| Outstanding portfolio (MWK) | MWK 15,423,024.54 |
| Portfolio (USD) | USD 39,546.22 |
| Active Clients with Loans | 423 |
| Approximate % Female Clients | 0% - 20% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | x |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | x |
| Men | x |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | x |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | 5 |
| # Regions for this product | 5 |
| Regions Active | Lilongwe, Mchinji, Salima, Mzimba, Blantyre |
| Currency | MWK |
| Minimum loan size | MWK 5,000 |
| Maximum loan size | 1,500,000 |
| Loans less than MWK 50,000 | 30% |
| MWK 50,000-150,000 | 20% |
| MWK 150,000-250,000 | 10% |
| MWK 250,000-350,000 | 10% |
| MWK 350,000-450,000 | 10% |
| Greater than MWK 450,000 | 10% |
| Shortest loan term | 3.0 months |
| Longest loan term | 12.0 months |
| Approx average | 6.0 months |
| Loans 3 months or less | 10% |
| Between 4 and 6 months | 20% |
| Between 7 and 9 months | 20% |
| Between 10 and 12 months | 50% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 1.0 month |
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 42.00% |
| Highest quoted nominal interest | 42.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 3.00% |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Ins 1 | |
|---|---|
| Description | Insurance Premium |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 50.00% |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | MWK 9,000 | MWK 35,000 | MWK 50,000 | MWK 100,000 | MWK 260,000 | ||||
| Loan Cycle (1, 2, 3, etc) | 4 | 1 | 2 | 9 | 7 | ||||
| Disbursement Date | 2012-12-12 | 2012-09-18 | 2012-12-21 | 2012-09-06 | 2012-12-12 | ||||
| Loan Term (Months) | 5.0 months | 4.1 months | 6.0 months | 12.0 months | 12.0 months | ||||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | ||||
| Total Cost of Credit | MWK 2,025 | MWK 6,650 | MWK 13,000 | MWK 47,000 | MWK 122,200 | ||||
| True Price by Comp | |||||||||
| Interest price component | 65.9% | 63.8% | 67.1% | 68.5% | 68.4% | ||||
| Fee Component | 12.7% | 15.2% | 11.1% | 6.3% | 6.4% | ||||
| Insurance Component | 8.8% | 10.4% | 7.6% | 4.4% | 4.3% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 207.3% | 214.4% | 201.5% | 155.1% | 154.8% | ||||
| Full APR (int fee ins tax dep) | 294.7% | 303.8% | 287.3% | 234.3% | 233.9% | ||||
| Transparency Index | 14 | 14 | 15 | 18 | 18 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.sccimicrofinance.com/ |
| Year established | 1995 |
| Head of Institution | Mrs. R.Girija |
| Regions active | Andhra Pradesh, Karnataka, Maharashtra, Orissa, Tamil Nadu |
| # Branches | 83 |
| Total Portfolio (nat'l) | INR 892,862,262 |
| Total Portfolio (USD) | USD 16,846,457.77 |
| Active clients with loans | 121,066 |
| Approximate % female clients | 100% |
| Approximate % urban clients | 60% - 80% |
| Network affiliations | MFIN, SA-DHAN |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fortnightly Loan | INR 5,000 - 30,000 | 12 - 24 | 100% | 60% - 80% | Business, Education | Women, Have business, Low HH Inc, Med HH Inc, 3 Out of 5 members should have own house in a group, Age should be above 18 and upto 58 | Credit Educ, Group Mtgs, Credit Ins, Business Training | |||||||
| Weekly JLG | INR 5,000 - 30,000 | 12 - 24 | 100% | 80% - 100% | Business, Education | Women, Have business, Low HH Inc, Med HH Inc, 3 out of 5 members should have own house, Age should be above 18 and upto 58 | Credit Educ, Group Mtgs, Credit Ins, Business Training, Product Linkages |
| Product Name | APR (int) | MFIN MFI Earning (Annualised) | MFIN Cost to Borrower (Annualised) | COMPLIANCE WITH RBI GUIDELINES ON INTEREST METHOD | COMPLIANCE WITH RBI GUIDELINES ON PROCESSING FEES | COMPLIANCE WITH RBI GUIDELINES ON INSURANCE PREMIUM | MFIN Transparency Index | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fortnightly Loan | 26.8% - 27.3% | 29.1% - 29.6% | 30.9% - 31.5% | Yes | Yes | Yes | 93 | |||||||
| Weekly JLG | 25.8% - 26.6% | 28% - 28.8% | 29.8% - 30.6% | Yes | Yes | Yes | 96 |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fortnightly Loan | 25.0%-26.7% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 29.1% - 29.6% | 30.9% - 31.5% | 80 | ||||||||
| Weekly JLG | 25.0%-26.7% annual, Decl Bal | 1 Fee | 1 Ins | 12.36% fees | N/A | 28% - 28.8% | 29.8% - 30.6% | 83 |
| Key Statistics | |
|---|---|
| # Samples: | |
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| # Borrowers | |
| Loan Portfolio (USD) | |
| % Products using declining balance | |
| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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