| Number borrowers | 20,988 |
| Loan Amount (range) | MWK 18,000 - 80,000 |
| Loan Term (range) | 4 |
| Other Services (text summary) | Credit Educ, Group Mtgs, Tech Asst Visits, Business Training, Other Training, Group Dyanamics |
| Annual Interest & Method | 60.00% annual, Flat |
| Fees | None |
| Insurance | None |
| Tax | None |
| Comp Dep | 10.00%-20.00% upfront |
| Range of pricing | |
| Interest Price Component | 36.2% - 108.4% |
| Fee Component | 0 |
| Insurance Component | 0 |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 147.6% - 166.7% |
| Transparency Index (min/max) | 36 - 124 |
| Transparency Index (average) | 37 |
| 9,642 |
| GHS 2,000 - 10,000 |
| 5 - 8 |
| Group Mtgs, Tech Asst Visits |
| 36.0%-96.0% annual, Flat |
| 3.00% upfront |
| None |
| None |
| 10.0% upfront |
| 49.7% - 53.3% |
| 9.3% - 18.4% |
| 0 |
| 0 |
| 68.1% - 81.6% |
| 44 - 53 |
| N/A |
| Outstanding portfolio (MWK) | MWK 522,836,400 |
| Portfolio (USD) | USD 1,340,606.15 |
| Active Clients with Loans | 20,988 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | |
| Solidarity group | x |
| Village banking | x |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | x |
| Business training | x |
| Other training | x |
| Other | Group Dyanamics |
| Other (2) | |
| No other services |
| Men | |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | x |
| Other | |
| Other (2) |
| # Regions for this institution | 18 |
| # Regions for this product | 20 |
| Regions Active | Dowa, Kasungu, Lilongwe, Mchinji, Nkhotakota, Ntcheu, Ntchisi, SalimaKaronga, Mzimba, Nkhata Bay, Rumphi, Balaka, Blantyre, Chikwawa, MachingaMangochi, Mulanje, Phalombe, Zomba |
| Outstanding portfolio (GHS) | GHS 4,995,261 |
| Portfolio (USD) | USD 2,535,665.48 |
| Active Clients with Loans | 9,642 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | x |
| Other household finance | |
| Other | Land |
| Other (2) |
| Credit education | |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | x |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| 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 | 2 |
| # Regions for this product | 2 |
| Regions Active | Greater Accra Region, Ashanti Region |
| Currency | MWK |
| Minimum loan size | MWK 18,000 |
| Maximum loan size | 80,000 |
| Loans less than MWK 50,000 | 90% |
| MWK 50,000-150,000 | 10% |
| MWK 150,000-250,000 | 0 |
| MWK 250,000-350,000 | 0 |
| MWK 350,000-450,000 | 0 |
| Greater than MWK 450,000 | 0 |
| Shortest loan term | 4.0 months |
| Longest loan term | 4.0 months |
| Approx average | 4.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 100% |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | |
| Every 2 weeks | x |
| Every 4 weeks | x |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Currency | GHS |
| Minimum loan size | GHS 2,000 |
| Maximum loan size | 10,000 |
| Loans less than GHS 1,000 | 0 |
| GHS 1,000-5,000 | 0 |
| GHS 5,000-7,500 | 20% |
| GHS 7,500-10,000 | 80% |
| GHS 10,000-13,000 | 0 |
| Greater than GHS 13,000 | 0 |
| Shortest loan term | 5.0 months |
| Longest loan term | 8.0 months |
| Approx average | dk |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 80% |
| Between 7 and 9 months | 20% |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 1.0 month |
| Daily | |
| Weekly | x |
| 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 | 5.00% |
| Highest quoted nominal interest | 5.00% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | 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 | 10.00% - 20.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | 5.00% |
| Maximum interest rate paid | 7.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Lowest quoted nominal interest | 3.00% |
| Highest quoted nominal interest | 8.00% |
| Reason(s) why interest rate varies | Client Risk |
| Interest rate period | Monthly |
| 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? | Yes |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | Final Pmt |
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | MWK 20,000 | MWK 30,000 | MWK 45,000 | MWK 60,000 | |||
| Loan Cycle (1, 2, 3, etc) | 10 | 12 | 11 | 9 | |||
| Disbursement Date | 2012-10-18 | 2012-10-22 | 2012-09-13 | 2012-09-13 | |||
| Loan Term (Months) | 4.0 months | 3.8 months | 3.7 months | 3.7 months | |||
| Grace Period (Months) | 0.2 months | 0.0 months | 0.0 months | 0.0 months | |||
| Total Cost of Credit | MWK 4,000 | MWK 6,000 | MWK 9,000 | MWK 12,000 | |||
| True Price by Comp | |||||||
| Interest price component | 97.1% | 106.6% | 108.4% | 108.4% | |||
| Fee Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 50.5% | 60.1% | 53.4% | 53.4% | |||
| Full APR (int fee ins tax dep) | 147.6% | 166.7% | 161.8% | 161.8% | |||
| Transparency Index | 41 | 36 | 37 | 37 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | GHS 3,200 | GHS 6,500 | GHS 9,500 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-01-10 | 2013-02-02 | 2013-01-14 | ||
| Loan Term (Months) | 6.0 months | 5.0 months | 3.0 months | ||
| Grace Period (Months) | 1.9 months | 1.5 months | 0.9 months | ||
| Total Cost of Credit | GHS 672 | GHS 1,170 | GHS 1,140 | ||
| True Price by Comp | |||||
| Interest price component | 49.7% | 51.4% | 51.8% | ||
| Fee Component | 9.3% | 11.3% | 18.4% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 9.1% | 9.9% | 11.4% | ||
| Full APR (int fee ins tax dep) | 68.1% | 72.6% | 81.6% | ||
| Transparency Index | 53 | 50 | 44 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
|---|---|---|---|---|---|---|---|
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