Please note that the information you are viewing is 156 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
Please note that the information you are viewing is 150 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Meanwood Finance Corporation Limited Design HouseCairo RoadLusakaPO Box 31334
Data approved: 2011-12-12
Data version: 1
Age of data: 156 months

Institution

Specialised Financial and Promotional Institution Bole Sub CityAddis AbabaPO Box 10689
Data approved: 2011-12-23
Data version: 1
Age of data: 150 months

Product

Salary Advance Product 4 of 5 « Prev | Next »

Product

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Product Summary

Number borrowers374
Loan Amount (range)ZMK 100,000 - 5,000,000
Loan Term (range)1
Other Services (text summary)Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Other Training
Annual Interest & Method276.0% annual, Flat
FeesNone
InsuranceNone
TaxNone
Comp DepN/A
Range of pricing 
Interest Price ComponentN/A
Fee Component270.3% - 280.2% (Int+Fee)
Insurance Component0
Tax Component Range0
Full APR (int fee ins tax dep)270.3% - 280.2%
Transparency Index (min/max)41 - 102
Transparency Index (average)100

Product Summary

1,500
ETB 10,000 - 120,000
12 - 30
Credit Educ, Business Training
16.0%-20.0% annual, Flat
None
None
None
5.0%-10.0% upfront
 
N/A
29.4% - 30.9% (Int+Fee)
0
0
34.4% - 36.0%
44 - 52
45

Product Details

Key Statistics
Outstanding portfolio (ZMK)ZMK 326,000,000
Portfolio (USD)USD 62,995.17
Active Clients with Loans374
Approximate % Female Clients40% - 60%
Approximate % Urban Clients80% - 100%
Methodology
Individual
Solidarity group
Village banking
Self help groupx
Other
Description
Loan product for salaried workers specifically for one month repayment period.
Loan Purpose
Any purpose
Income generation
Mortgage/housing
Consumer loan
Agriculture
Educationx
Other household financex
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visitsx
Business training
Other trainingx
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
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institutionN/A
# Regions for this productN/A
Regions Active

Product Details

Key Statistics
Outstanding portfolio (ETB)ETB 2,400,000
Portfolio (USD)USD 130,434.78
Active Clients with Loans1,500
Approximate % Female Clients40% - 60%
Approximate % Urban Clients80% - 100%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
This product targets urban clients and is offered on individual basis. The loan is backed by personal guarantee (e.g. salary or property)
Loan Purpose
Any purposex
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurance
Workplace visits
Business trainingx
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 worker
Must be specific age group
Other
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
CurrencyZMK
Minimum loan sizeZMK 100,000
Maximum loan size5,000,000
Loan Term and Grace Period
Shortest loan term1.0 month
Longest loan term1.0 month
Approx average1.0 month
Grace Period
Grace period usage0
Average grace period0
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
CurrencyETB
Minimum loan sizeETB 10,000
Maximum loan size120,000
Loan Term and Grace Period
Shortest loan term12.0 months
Longest loan term30.0 months
Approx average18.0 months
Grace Period
Grace period usage10%
Average grace period3.0 months
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterlyx
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest23.00%
Highest quoted nominal interest23.00%
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
This product has no upfront fees
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 interest16.00%
Highest quoted nominal interest20.00%
Reason(s) why interest rate variesDepends on repayment frequency
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?
Is rate fixed for entire loan termYes
Upfront Fees
This product has no upfront fees
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 forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?
Do borrowers control deposit in their group?
Deposit BEFORE or AT Disbursement
% loan amount deposited5.00% - 10.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid5.00%
Maximum interest rate paid5.00%
Interest payment frequencyAnnually
Taxes
Are taxes charged on this product?No
Additional Comments
10% compulsory savings on loan size up to 5000 ETB, and 5% for above 5000 ETB. Interest on savings is paid every 6 months. Client can access any savings saved afer the first term of savings.

Full Pricing Data

Salary Advance samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountZMK 500,000ZMK 600,000ZMK 800,000ZMK 850,000ZMK 1,000,000ZMK 1,500,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2011-05-272011-06-012011-06-032011-06-212011-06-172011-06-21
Loan Term (Months)1.0 month1.0 month1.0 month1.0 month1.0 month1.0 month
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot KnownNot KnownNot Known
True Price by Comp           
Interest and Fee Component270.3%280.2%270.3%280.2%270.3%280.2%
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)270.3%280.2%270.3%280.2%270.3%280.2%
Transparency Index100981009810098
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF

Full Pricing Data

Individual Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountETB 10,000ETB 10,000ETB 15,000ETB 40,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2011-10-182011-10-282011-10-072011-10-18
Loan Term (Months)18.0 months18.0 months18.0 months30.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot Known
True Price by Comp       
Interest and Fee Component29.4%29.4%29.4%30.9%
Insurance Component0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component5.0%5.0%5.0%5.0%
Full APR (int fee ins tax dep)34.4%34.4%34.4%36.0%
Transparency Index46464644
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
Salary Advance Price Graphs


Individual 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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