Number borrowers | 925 |
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 & Method | 54.0%-66.0% annual, Flat |
Fees | 4.00%-7.00% upfront |
Insurance | 1.00%-3.50% upfront |
Tax | None |
Comp Dep | 15.0% upfront |
Range of pricing | |
Interest Price Component | N/A |
Fee Component | 104.8% - 135.3% (Int+Fee) |
Insurance Component | 2.0% - 4.9% |
Tax Component Range | 0 |
Full APR (int fee ins tax dep) | 139.5% - 181.0% |
Transparency Index (min/max) | 27 - 44 |
Transparency Index (average) | 34 |
2,306 |
MWK 50,000 - 1,000,000 |
3 - 12 |
Credit Educ, Credit Ins, Business Training, Other Training, Social Issues Training (HIV/AIDS, Gender, Vision Building),, Mthunzi (Shelter) Insurance |
42.00% annual, Flat |
2 fees |
938 upfront |
None |
15.00% upfront |
31.6% - 67.3% |
2.0% - 47.8% |
0 - 3.7% |
0 |
92.3% - 144.5% |
29 - 130 |
39 |
Outstanding portfolio (ZMK) | ZMK 10,955,500,000 |
Portfolio (USD) | USD 2,117,004.83 |
Active Clients with Loans | 925 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 60% - 80% |
Individual | x |
Solidarity group | |
Village banking | |
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 | x |
Workplace visits | x |
Business training | x |
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 | |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Outstanding portfolio (MWK) | MWK 650,679,509 |
Portfolio (USD) | USD 1,668,409 |
Active Clients with Loans | 2,306 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 40% - 60% |
Individual | x |
Solidarity group | |
Village banking | |
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 | |
Credit insurance | x |
Workplace visits | |
Business training | x |
Other training | x |
Other | Social Issues Training (HIV/AIDS, Gender, Vision Building), |
Other (2) | Mthunzi (Shelter) Insurance |
No other services |
Men | x |
Women | x |
Must run a business | x |
Must own a home or land | x |
Must be a salaried worker | |
Must be specific age group | |
Other | Must have assets as collateral |
Other (2) |
# Regions for this institution | 16 |
# Regions for this product | 19 |
Regions Active | Dedza, Dowa, Kasungu, Lilongwe, Mchinji, Nkhotakota, Salima, ChitipaKaronga, Mzimba, Nkhata Bay, Rumphi, Blantyre, ChikwawaMangochi, Mulanje, Nsanje, Thyolo, Zomba |
Currency | ZMK |
Minimum loan size | ZMK 1,000,000 |
Maximum loan size | 120,000,000 |
Shortest loan term | 6.0 months |
Longest loan term | 36.0 months |
Approx average | 13.0 months |
Grace period usage | 0 |
Average grace period | 0 |
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 |
Currency | MWK |
Minimum loan size | MWK 50,000 |
Maximum loan size | 1,000,000 |
Loans less than MWK 50,000 | 0 |
MWK 50,000-150,000 | 10% |
MWK 150,000-250,000 | 20% |
MWK 250,000-350,000 | 20% |
MWK 350,000-450,000 | 20% |
Greater than MWK 450,000 | 20% |
Shortest loan term | 3.0 months |
Longest loan term | 12.0 months |
Approx average | 8.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 20% |
Between 7 and 9 months | 40% |
Between 10 and 12 months | 40% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 30% |
Average grace period | 1.0 month |
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 |
Lowest quoted nominal interest | 4.50% |
Highest quoted nominal interest | 5.50% |
Reason(s) why interest rate varies | Time as Client, Repeat loan discount - Initial loan is 66% annual. Repeat loan is 54% interest. |
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 | 4.00% |
% of loan amount - max | 7.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | 7% for loans <12.5million, 5% for loans of 12.5-20million, 5% for loans 20million. |
Appears on Repayment Sched? | No |
Ins 1 | |
---|---|
Description | Credit Life Assurance |
% of loan amount - min | 1.00% |
% of loan amount - max | 3.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 15.00% |
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 | 3.00% |
Maximum interest rate paid | 9.00% |
Interest payment frequency | End Term |
Are taxes charged on this product? | No |
Lowest quoted nominal interest | 3.50% |
Highest quoted nominal interest | 3.50% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Processing Fee | Legal Fee | |
% of loan amount - min | 3.50% | 0 | |
% of loan amount - max | 3.50% | 0 | |
OR, Fixed amount - min | 0 | 250 | |
Fixed amount - max | 0 | 250 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | No | No |
Ins 1 | |
---|---|
Description | Mthunzi Insurance Cover |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 937.80 |
Fixed amount - max | 937.80 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 15.00% |
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 | 7.00% |
Maximum interest rate paid | 7.00% |
Interest payment frequency | Monthly |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | ZMK 1,500,000 | ZMK 2,500,000 | ZMK 3,000,000 | ZMK 3,000,000 | ZMK 4,000,000 | ZMK 4,500,000 | |||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
Disbursement Date | 2010-12-29 | 2011-04-15 | 2011-04-29 | 2011-10-18 | 2011-09-01 | 2011-03-22 | |||||
Loan Term (Months) | 9.0 months | 6.0 months | 9.0 months | 12.0 months | 12.0 months | 12.0 months | |||||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||||
Total Cost of Credit | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
True Price by Comp | |||||||||||
Interest and Fee Component | 126.5% | 135.3% | 126.6% | 104.8% | 105.1% | 122.5% | |||||
Insurance Component | 4.9% | 4.5% | 4.9% | 3.8% | 3.9% | 4.0% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 38.3% | 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 Index | 32 | 30 | 32 | 39 | 39 | 34 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | MWK 40,000 | MWK 100,000 | MWK 150,000 | MWK 200,000 | MWK 500,000 | MWK 600,000 | |||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
Disbursement Date | 2012-11-05 | 2012-10-29 | 2012-10-29 | 2012-10-30 | 2012-12-03 | 2012-10-11 | |||||
Loan Term (Months) | 5.2 months | 11.0 months | 11.0 months | 11.0 months | 12.0 months | 13.0 months | |||||
Grace Period (Months) | 0.2 months | 0.4 months | 0.4 months | 0.4 months | 0.3 months | 1.0 month | |||||
Total Cost of Credit | MWK 11,693.11 | MWK 41,091.52 | MWK 61,012.21 | MWK 86,513.83 | MWK 242,720.11 | MWK 307,233.86 | |||||
True Price by Comp | |||||||||||
Interest price component | 63.7% | 65.9% | 65.9% | 65.7% | 67.3% | 62.9% | |||||
Fee Component | 47.8% | 10.9% | 9.9% | 15.6% | 8.2% | 7.1% | |||||
Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | 3.7% | 3.2% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 33.0% | 21.5% | 21.2% | 23.0% | 22.4% | 19.1% | |||||
Full APR (int fee ins tax dep) | 144.5% | 98.3% | 97.0% | 104.3% | 101.6% | 92.3% | |||||
Transparency Index | 29 | 43 | 43 | 40 | 41 | 45 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
Key Statistics | |
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# 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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