| Number borrowers | 1,240 |
| Loan Amount (range) | MWK 5,000 - 500,000 |
| Loan Term (range) | 6 |
| Other Services (text summary) | Credit Educ, Group Mtgs, Credit Ins, Business Training, Other Training |
| Annual Interest & Method | 45.00% annual, Flat |
| Fees | 3.00% upfront |
| Insurance | 2.00% upfront |
| Tax | None |
| Comp Dep | 33.33% upfront |
| Range of pricing | |
| Interest Price Component | 54.5% - 72.2% |
| Fee Component | 5.6% - 18.8% |
| Insurance Component | 3.9% - 12.9% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 177.0% - 177.8% |
| Transparency Index (min/max) | 11 - 26 |
| Transparency Index (average) | 25 |
| Outstanding portfolio (MWK) | MWK 12,733,636.55 |
| Portfolio (USD) | USD 32,650.35 |
| Active Clients with Loans | 1,240 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 60% - 80% |
| 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 | x |
| Workplace visits | |
| Business training | x |
| Other training | x |
| Other | |
| 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 | |
| Other | |
| Other (2) |
| # Regions for this institution | 5 |
| # Regions for this product | 5 |
| Regions Active | Lilongwe, Mchinji, Salima, Mzimba, Blantyre |
| Outstanding portfolio (USD) | USD 80,727 |
| Portfolio (USD) | USD 80,727 |
| Active Clients with Loans | 15 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 0% - 20% |
| Any purpose | |
| Income generation | |
| Mortgage/housing | x |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Men | x |
| Women | x |
| Must run a business | |
| Must own a home or land | x |
| Must be a salaried worker | x |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | MWK |
| Minimum loan size | MWK 5,000 |
| Maximum loan size | 500,000 |
| 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 | 6.0 months |
| Longest loan term | 6.0 months |
| Approx average | 6.0 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 | DK |
| 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 | 45.00% |
| Highest quoted nominal interest | 45.00% |
| Interest rate period | Yearly |
| 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? | No |
| Ins 1 | |
|---|---|
| Description | Insurance Premium |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 2.00% |
| 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? | Yes |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 33.33% |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | MWK 12,000 | MWK 25,000 | MWK 48,000 | MWK 130,500 | MWK 294,000 | MWK 271,000 | |||||
| Loan Cycle (1, 2, 3, etc) | 3 | 3 | 3 | 3 | 3 | 3 | |||||
| Disbursement Date | 2012-07-31 | 2012-07-31 | 2012-09-30 | 2012-09-30 | 2012-09-30 | 2012-09-30 | |||||
| Loan Term (Months) | 6.0 months | 6.0 months | 6.0 months | 6.0 months | 6.0 months | 6.0 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 | MWK 3,300 | MWK 6,875 | MWK 13,200 | MWK 35,888 | MWK 80,850 | MWK 74,525 | |||||
| True Price by Comp | |||||||||||
| Interest price component | 71.1% | 71.1% | 71.7% | 71.7% | 71.7% | 71.7% | |||||
| Fee Component | 11.0% | 11.0% | 11.1% | 11.1% | 11.1% | 11.1% | |||||
| Insurance Component | 7.5% | 7.5% | 7.7% | 7.7% | 7.7% | 7.7% | |||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
| Deposit Component | 87.4% | 87.4% | 87.3% | 87.3% | 87.3% | 87.3% | |||||
| Full APR (int fee ins tax dep) | 177.0% | 177.0% | 177.8% | 177.8% | 177.8% | 177.8% | |||||
| Transparency Index | 25 | 25 | 25 | 25 | 25 | 25 | |||||
| Original Repayment Schedule | |||||||||||
| MFT Pricing Calculation |
| Key Statistics | |
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| % 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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