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 135 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Pulse Financial Services Limited Cnr Freedom Way/Katunjila RoadLusakaP.O. Box RW 51269
Data approved: 2012-01-25
Data version: 1
Age of data: 156 months

Institution

Opportunity Bank of Malawi Private Bag A71Lilongwe, Central
Data approved: 2012-11-29
Data version: 2
Age of data: 135 months

Product

MSME Loan Product 2 of 3 « Prev | Next »

Product

Masiko (Group) Loan Product 2 of 4 « Prev | Next »

Product Summary

Number borrowers925
Loan Amount (range)ZMK 1,000,000 - 120,000,000
Loan Term (range)6 - 36
Other Services (text summary)Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training
Annual Interest & Method54.0%-66.0% annual, Flat
Fees4.00%-7.00% upfront
Insurance1.00%-3.50% upfront
TaxNone
Comp Dep15.0% upfront
Range of pricing 
Interest Price ComponentN/A
Fee Component104.8% - 135.3% (Int+Fee)
Insurance Component2.0% - 4.9%
Tax Component Range0
Full APR (int fee ins tax dep)139.5% - 181.0%
Transparency Index (min/max)27 - 44
Transparency Index (average)34

Product Summary

34,795
MWK 140,000 - 2,800,000
4 - 9
Credit Educ, Group Mtgs, Credit Ins, Business Training
48.75% annual, Flat
3.50% upfront
None
None
15.00% upfront
 
31.6% - 67.3%
2.0% - 47.8%
0 - 3.7%
0
90.5% - 94.1%
29 - 130
52

Product Details

Key Statistics
Outstanding portfolio (ZMK)ZMK 10,955,500,000
Portfolio (USD)USD 2,117,004.83
Active Clients with Loans925
Approximate % Female Clients40% - 60%
Approximate % Urban Clients60% - 80%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
MSME loan product
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visitsx
Business trainingx
Other training
Other
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
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 (MWK)MWK 635,069,330
Portfolio (USD)USD 1,628,382.90
Active Clients with Loans34,795
Approximate % Female Clients40% - 60%
Approximate % Urban Clients20% - 40%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Group loans are given to individuals running small businesses. Group members self-select and come from the same area. The loan is secured by the group's mutual guarantee. Members get transformation lessons as a benefit.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visits
Business trainingx
Other training
Other
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
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution16
# Regions for this product18
Regions ActiveDedza, Dowa, Kasungu, Lilongwe, Mchinji, Nkhotakota, Salima, ChitipaKaronga, Mzimba, Nkhata Bay, Rumphi, Blantyre, ChikwawaMangochi, Nsanje, Thyolo, Zomba

Loan Conditions

Loan Amount
CurrencyZMK
Minimum loan sizeZMK 1,000,000
Maximum loan size120,000,000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term36.0 months
Approx average13.0 months
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
CurrencyMWK
Minimum loan sizeMWK 140,000
Maximum loan size2,800,000
Distribution at Disbursement (Est.)
Loans less than MWK 50,0000
MWK 50,000-150,0005%
MWK 150,000-250,00030%
MWK 250,000-350,00030%
MWK 350,000-450,00015%
Greater than MWK 450,00015%
Loan Term and Grace Period
Shortest loan term4.0 months
Longest loan term9.0 months
Approx average6.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months50%
Between 7 and 9 months50%
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage30%
Average grace period1.0 month
Repayment Frequency
Daily
Weekly
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 interest4.50%
Highest quoted nominal interest5.50%
Reason(s) why interest rate variesTime as Client, Repeat loan discount - Initial loan is 66% annual. Repeat loan is 54% interest.
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min4.00%
% of loan amount - max7.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation7% for loans <12.5million, 5% for loans of 12.5-20million, 5% for loans 20million.
Appears on Repayment Sched?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionCredit Life Assurance
% of loan amount - min1.00%
% of loan amount - max3.50%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited15.00%
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 paid3.00%
Maximum interest rate paid9.00%
Interest payment frequencyEnd Term
Taxes
Are taxes charged on this product?No
Additional Comments
Client is entitled to client share ownership program and has a minimum of 1% interest rebate paid if the loan was paid on time. The client has four options of investment. The repeat borrowers have a lower interest rate.

Pricing Information

Interest
Lowest quoted nominal interest3.75%
Highest quoted nominal interest3.75%
Interest rate period4 Weeks
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min3.50%
% of loan amount - max3.50%
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 forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited15.00%
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 paid7.00%
Maximum interest rate paid7.00%
Interest payment frequencyMonthly
Taxes
Are taxes charged on this product?No

Full Pricing Data

MSME Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountZMK 1,500,000ZMK 2,500,000ZMK 3,000,000ZMK 3,000,000ZMK 4,000,000ZMK 4,500,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2010-12-292011-04-152011-04-292011-10-182011-09-012011-03-22
Loan Term (Months)9.0 months6.0 months9.0 months12.0 months12.0 months12.0 months
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 Component126.5%135.3%126.6%104.8%105.1%122.5%
Insurance Component4.9%4.5%4.9%3.8%3.9%4.0%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component38.3%41.2%37.2%30.8%31.0%34.6%
Full APR (int fee ins tax dep)169.7%181.0%168.8%139.5%140.0%161.1%
Transparency Index323032393934
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF

Full Pricing Data

Masiko (Group) Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountMWK 170,000MWK 230,000MWK 390,000MWK 830,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2012-11-142012-10-162012-10-182012-10-11
Loan Term (Months)5.9 months7.0 months9.0 months6.0 months
Grace Period (Months)0.9 months0.9 months0.8 months1.0 month
Total Cost of CreditMWK 43,019.75MWK 66,687.60MWK 140,969.58MWK 214,035.80
True Price by Comp       
Interest price component62.4%64.4%65.9%61.4%
Fee Component11.5%10.3%8.5%11.1%
Insurance Component0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component18.7%19.4%19.5%18.0%
Full APR (int fee ins tax dep)92.6%94.1%93.9%90.5%
Transparency Index53525254
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
MSME Loan Price Graphs


Masiko (Group) 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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