Malawi Rural Finance Company Limited - Business Loans - MFTransparency.org Truth In Lending Tables

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Institution

Malawi Rural Finance Company Limited Off Paul Kagame RoadPrivate Bag 39Lilongwe

Data approved: 2011-01-06

Data version: 1

Age of data: - months

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Product

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Product Details

Key Statistics

Outstanding portfolio (MWK)	MWK 606,095,353
Portfolio (USD)	USD 1,638,096
Active Clients with Loans	23,706
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	0% - 20%

Methodology

Individual	x
Solidarity group	x
Village banking	x
Self help group
Other

Description

These are loans granted to micro, small and medium sized entreprenuers to enable them engage in various income generating activities.

Loan Purpose

Any purpose	x
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education	x
Group meetings	x
Credit insurance	x
Workplace visits
Business training	x
Other training
Other
Other (2)
No other services

Eligibility

Men	x
Women	x
Must run a business	x
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	1
# Regions for this product	N/A
Regions Active

Loan Conditions

Loan Amount

Currency	MWK
Minimum loan size	MWK 10,000
Maximum loan size	300,000

Distribution at Disbursement (Est.)

Loans less than MWK 50,000	10%
MWK 50,000-150,000	20%
MWK 150,000-250,000	30%
MWK 250,000-350,000	40%
MWK 350,000-450,000	0
Greater than MWK 450,000	0

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	24.0 months
Approx average	12.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	20%
Between 4 and 6 months	20%
Between 7 and 9 months	20%
Between 10 and 12 months	20%
Between 13 and 18 months	10%
Longer than 18 months	10%

Grace Period

Grace period usage	100%
Average grace period	1.0 month

Repayment Frequency

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

Pricing Information

Interest

Lowest quoted nominal interest	30.00%
Highest quoted nominal interest	33.00%
Reason(s) why interest rate varies	Time as Client
Interest rate period	Yearly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1	Fee 2
Description	Processing Fee	Credit and Funeral Expense
% of loan amount - min	1.00%	0.78%
% of loan amount - max	1.50%	0.78%
OR, Fixed amount - min	0	0
Fixed amount - max	0	0
Reason for variation	N/A	N/A
Appears on Repayment Sched?	No	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

This product has no upfront insurance fees

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	All
Criteria	N/A
Is deposit indicated on the repayment schedule?	No
Do borrowers control deposit in their group?	No

Deposit BEFORE or AT Disbursement

% loan amount deposited	20.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	0
Conditions on access to deposit	Final Pmt

Interest Paid on Deposit

Minimum interest rate paid	6.00%
Maximum interest rate paid	6.00%
Interest payment frequency	Annually

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Business Loans samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5
Loan Amount	MWK 13,750	MWK 30,000	MWK 60,000	MWK 120,000	MWK 250,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2010-09-30	2010-09-07	2010-09-07	2010-09-15	2010-09-07
Loan Term (Months)	12.0 months	11.0 months	11.0 months	11.0 months	11.0 months
Grace Period (Months)	1.0 month	1.0 month	1.0 month	0.0 months	1.0 month
Total Cost of Credit	Not Known	Not Known	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	52.5%	53.5%	51.7%	53.1%	49.1%
Insurance Component	3.1%	2.3%	1.9%	1.8%	1.6%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	21.0%	21.1%	20.4%	20.9%	19.2%
Full APR (int fee ins tax dep)	76.6%	76.9%	74.0%	75.8%	69.9%
Transparency Index	39	39	41	40	43

Original Repayment Schedule	PDF	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF	PDF

Business Loans Price Graphs

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
Adhikar	35,300	2,674,000	1	133
AMPL	0	0	0	133
Arman	41,500	529,107,000	1	133
Arohan	43,500	8,091,000	2	133
ASA INDIA	164,000	15,380,000	1	133
Asirvad	113,500	19,328,000	1	133
Asmitha	1,114,800	217,867,000	1	133
Bandhan	4,048,600	674,564,000	5	133
Belstar	123,000	23,945,000	2	112
BSFL	275,200	31,590,000	3	133
Chaitanya	20,700	3,748,000	3	133
Disha Microfin	69,000	14,332,000	2	133
Equitas	1,220,000	186,415,000	4	133
ESAF	354,200	43,500,000	5	133
FFSL	150,600	35,719,000	2	133
Fusion	66,800	9,820,000	2	133
Grama Vidiyal	738,200	102,101,000	1	133
Grameen Koota	586,600	83,555,000	15	135
Janalakshmi	506,000	119,077,000	2	133
L & T Finance	399,800	37,199,000	1	133
MFL	331,800	49,083,000	1	133
MMFL	175,000	23,752,000	2	133
Mpower	13,600	2,263,000	2	133
Sahayata	0	0	0	133
Saija	24,700	4,682,000	2	133
Samasta	45,500	4,809,000	2	133
Satin	405,600	90,174,000	2	133
SCCI	115,600	15,910,000	2	133
Share	2,195,400	376,727,000	1	133
SKS	3,409,000	355,029,000	2	133
SMILE	360,200	56,927,000	1	133
SNFL	9,400	1,779,000	1	133
Sonata Finance	158,200	22,724,000	3	135
Spandana	533,400	147,240,000	2	133
Suryoday	78,600	14,713,000	3	133
SVCL	118,200	18,886,000	1	133
Swadhaar	92,800	17,166,000	3	133
Trident	68,700	8,852,000	1	133
Ujjivan	913,300	160,848,000	5	133
Utkarsh	168,600	25,915,000	3	133
VFS	175,400	19,264,000	2	133
Asomi	50,300	4,743,000	2	166
AES India	3,600	286,000	1	166
Arth	2,900	611,000	2	166
Asomi	50,300	4,743,000	2	166
Barasat GS	1,100	99,508.02	1	166
BJS	6,000	468,000	1	166
Cashpor	417,000	50,452,000	1	165
Credible	10,000	1,669,540.36	2	166
DIBAKAR	1,800	145,000	1	165
GOF	65,200	5,388,000	4	165
Hope	62,600	4,407,000	1	163
Jaago	2,700	237,000	1	164
LOK	4,900	573,000	1	165
Nano	25,600	3,660,000	2	166
NBSAAVS	28,100	2,821,000	1	163
Nirantara	8,200	917,000	2	165
Parama	7,100	482,000	1	165
Pragathi	26,200	4,579,000	6	165
PWMACS	36,500	5,946,000	1	165
Saadhana	90,900	12,046,000	2	165
Sambhav	1,500	183,000	3	165
Seba Rahara	6,700	468,000	1	165
SU	61,100	5,498,000	1	165
Swayanshree	7,900	918,000	2	165
Vikas Samiti	1,600	168,000	1	165
Vistaar	4,300	1,157,000	2	163
We The People	1,100	244,000	2	165
WEMCS	1,100	85,000	1	165
Yukti	1,100	99,000	2	165

Key Statistics
# Samples:
# Products
# Institutions
# Countries
# Borrowers
Loan Portfolio (USD)
% Products using declining balance
% Products with one or more fee
% Products with one or more insurances
% Products with compulsory deposits

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
	Greater than:
	Less or equal to:
	From 0 to
	to
	to
	to ∞

Institution

Product

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Full Pricing Data

Business Loans samples

Business Loans Price Graphs

Total Borrowers of Samples

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