2. OIBM
Please note that the information you are viewing is 137 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Finamerica
Please note that the information you are viewing is 161 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Opportunity Bank of Malawi Private Bag A71Lilongwe, Central
Data approved: 2012-11-29
Data version: 2
Age of data: 137 months
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Institution

Finamerica Calle 16 # 6-66 piso 4Bogotá, Cundinamarca
Data approved: 2011-03-15
Data version: 1
Age of data: 161 months

Product

Payroll Loan Product 4 of 4 « Prev | Next »

Product

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Product Summary

Number borrowers3,548
Loan Amount (range)MWK 15,000 - 4,000,000
Loan Term (range)3 - 48
Other Services (text summary)Credit Ins
Annual Interest & Method45.00% annual, Decl Bal
Fees3.00% upfront
InsuranceNone
TaxNone
Comp DepN/A
Range of pricing 
Interest Price Component31.6% - 67.3%
Fee Component2.0% - 47.8%
Insurance Component0 - 3.7%
Tax Component Range0
Full APR (int fee ins tax dep)34.7% - 45.7%
Transparency Index (min/max)29 - 130
Transparency Index (average)100

Product Summary

5,198
COP 400,000 - 2,400,000
6 - 12
Credit Ins, Other Training, programa de Fidelizacion clientes Club Finamigos
22.4%-29.9% annual, Decl Bal
upfront
0.34% upfront
None
N/A
 
N/A
50.6% - 52.9% (Int+Fee)
0.6% - 0.8%
0
51.3% - 53.7%
18 - 143
43

Product Details

Key Statistics
Outstanding portfolio (MWK)MWK 513,157,530
Portfolio (USD)USD 1,315,788.54
Active Clients with Loans3,548
Approximate % Female Clients20% - 40%
Approximate % Urban Clients40% - 60%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Given to employees of various organisations who would like to borrow and repay through their salary.
Loan Purpose
Any purposex
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetings
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried workerx
Must be specific age group
OtherAge must be above 18 years
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution16
# Regions for this product19
Regions ActiveDedza, Dowa, Kasungu, Lilongwe, Mchinji, Nkhotakota, Salima, ChitipaKaronga, Mzimba, Nkhata Bay, Rumphi, Blantyre, ChikwawaMangochi, Mulanje, Nsanje, Thyolo, Zomba

Product Details

Key Statistics
Outstanding portfolio (COP)COP 5,676,635,711
Portfolio (USD)USD 3,119,030.61
Active Clients with Loans5,198
Approximate % Female Clients40% - 60%
Approximate % Urban Clients80% - 100%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Crédito para microempresarios sin experiencia crediticia, con aprobación en 24 horas, flexibilidad en garantías y mínimos requisitos.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
OtherCapital de Trabajo
Other (2)
Included Services
Credit education
Group meetings
Credit insurancex
Workplace visits
Business training
Other trainingx
Otherprograma de Fidelizacion clientes Club Finamigos
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried worker
Must be specific age group
OtherPersonas sin experiencia crediticia
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institutionN/A
# Regions for this productN/A
Regions Active

Loan Conditions

Loan Amount
CurrencyMWK
Minimum loan sizeMWK 15,000
Maximum loan size4,000,000
Distribution at Disbursement (Est.)
Loans less than MWK 50,00010%
MWK 50,000-150,00020%
MWK 150,000-250,00020%
MWK 250,000-350,00020%
MWK 350,000-450,00010%
Greater than MWK 450,00010%
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term48.0 months
Approx average12.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months10%
Between 7 and 9 months10%
Between 10 and 12 months20%
Between 13 and 18 months20%
Longer than 18 months40%
Grace Period
Grace period usage30%
Average grace period1.0 month
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyCOP
Minimum loan sizeCOP 400,000
Maximum loan size2,400,000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term12.0 months
Approx average0
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weeklyx
Every 2 weeksx
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest45.00%
Highest quoted nominal interest45.00%
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min3.00%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
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 forNever
CriteriaN/A
Is deposit indicated on the repayment schedule?N/A
Do borrowers control deposit in their group?N/A
Deposit BEFORE or AT Disbursement
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest22.39%
Highest quoted nominal interest29.93%
Reason(s) why interest rate variesTime as Client, Client Risk, Loan Purpose
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?
Is rate fixed for entire loan termNo
Upfront Fees
Fee 1
DescriptionComision ley Mipyme que se paga por los gasto de originaciòn , seguimiento y cobranza del crÚdito. (cobrado anualmente) (para algunos prestamos de este producto)
% of loan amount - min0
% of loan amount - max7.50%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionSeguro de Vida monto desembolsado (cobrado anualmente)
% of loan amount - min0.34%
% of loan amount - max0.34%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/A
Is deposit indicated on the repayment schedule?N/A
Do borrowers control deposit in their group?N/A
Deposit BEFORE or AT Disbursement
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No
Additional Comments
Se debe aclarar que la comision de seguro de vida es del 3.422 por cada $1. pesos prestados

Full Pricing Data

Payroll Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountMWK 20,000MWK 50,000MWK 100,000MWK 200,000MWK 400,000MWK 950,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2012-08-092012-10-232012-10-262012-09-252012-10-232012-12-05
Loan Term (Months)7.0 months12.0 months25.0 months24.0 months25.0 months48.0 months
Grace Period (Months)0.9 months0.4 months0.3 months1.9 months0.4 months-1.0 months
Total Cost of CreditMWK 3,471.47MWK 13,075.70MWK 48,626.69MWK 92,912.55MWK 196,246.98MWK 951,640.99
True Price by Comp           
Interest price component37.1%37.3%37.3%31.9%37.4%39.9%
Fee Component8.6%5.7%3.2%2.8%3.2%2.1%
Insurance Component0.0%0.0%0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)45.7%43.0%40.5%34.7%40.6%42.0%
Transparency Index99100100100100100
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF

Full Pricing Data

Mi credito YA samples
Sample 1Sample 2Sample 3
Loan AmountCOP 484,000COP 1,100,000COP 1,500,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2011-04-162011-04-282011-04-14
Loan Term (Months)8.0 months12.0 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot Known
True Price by Comp     
Interest and Fee Component50.6%51.4%52.9%
Insurance Component0.7%0.8%0.8%
Tax Component0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%
Full APR (int fee ins tax dep)51.3%52.2%53.7%
Transparency Index444342
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF
Payroll Loan Price Graphs


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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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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X Axis
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