| Number borrowers | 2,221 |
| Loan Amount (range) | MWK 50,000 - 4,500,000 |
| Loan Term (range) | 6 - 12 |
| Other Services (text summary) | Credit Ins |
| Annual Interest & Method | 60.00%-67.20% annual, Decl Bal |
| Fees | 1.50% upfront |
| Insurance | None |
| Tax | None |
| Comp Dep | N/A |
| Range of pricing | |
| Interest Price Component | 57.7% - 96.1% |
| Fee Component | 0 - 5.5% |
| Insurance Component | 0 - 3.0% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 62.8% - 71.1% |
| Transparency Index (min/max) | 71 - 106 |
| Transparency Index (average) | 89 |
| 54 |
| MWK 5,000 - 2,000,000 |
| 4 - 12 |
| Credit Educ, Group Mtgs |
| 42.00% annual, Flat |
| 2 fees |
| None |
| None |
| 10.00% upfront |
| 43.6% - 69.1% |
| 5.6% - 36.4% |
| 0 |
| 0 |
| 91.0% - 93.2% |
| 34 - 86 |
| 45 |
| Outstanding portfolio (MWK) | MWK 307,541,000 |
| Portfolio (USD) | USD 788,566.67 |
| Active Clients with Loans | 2,221 |
| Approximate % Female Clients | 20% - 40% |
| 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 | |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| 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 | 22 |
| # Regions for this product | 25 |
| Regions Active | Dedza, Dowa, Kasungu, Lilongwe, Mchinji, Nkhotakota, Ntcheu, Ntchisi, SalimaKaronga, Mzimba, Nkhata Bay, Rumphi, Balaka, Blantyre, Chikwawa, Chiradzulu, MachingaMangochi, Mulanje, Mwanza, Nsanje, Thyolo, Phalombe, Zomba |
| Outstanding portfolio (MWK) | MWK 12,059,498.45 |
| Portfolio (USD) | USD 30,921.79 |
| Active Clients with Loans | 54 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 80% - 100% |
| 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 | Not unacceptable businesses e.g beer brewing, tobacco, charcoal. |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| 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 | 10 |
| # Regions for this product | 2 |
| Regions Active | Lilongwe, Blantyre |
| Currency | MWK |
| Minimum loan size | MWK 50,000 |
| Maximum loan size | 4,500,000 |
| Loans less than MWK 50,000 | 0 |
| MWK 50,000-150,000 | 30% |
| MWK 150,000-250,000 | 20% |
| MWK 250,000-350,000 | 20% |
| MWK 350,000-450,000 | 10% |
| Greater than MWK 450,000 | 10% |
| Shortest loan term | 6.0 months |
| Longest loan term | 12.0 months |
| Approx average | 6.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 50% |
| Between 7 and 9 months | 30% |
| Between 10 and 12 months | 20% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 30% |
| Average grace period | 3.0 months |
| 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 5,000 |
| Maximum loan size | 2,000,000 |
| Loans less than MWK 50,000 | 0 |
| MWK 50,000-150,000 | 5% |
| MWK 150,000-250,000 | 15% |
| MWK 250,000-350,000 | 40% |
| MWK 350,000-450,000 | 40% |
| Greater than MWK 450,000 | 40% |
| Shortest loan term | 4.0 months |
| Longest loan term | 12.0 months |
| Approx average | 6.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 70% |
| Between 7 and 9 months | 20% |
| Between 10 and 12 months | 10% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 10 days |
| 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 | 5.00% |
| Highest quoted nominal interest | 5.60% |
| Reason(s) why interest rate varies | Loan Size, K50,000-250,000=5.6%pm, K250,000-300,000=5.2%pm & >K300,000=5%pm |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 1.50% |
| % of loan amount - max | 1.50% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
| 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 | Application Fee | Registration Fee | |
| % of loan amount - min | 3.50% | 0 | |
| % of loan amount - max | 3.50% | 0 | |
| OR, Fixed amount - min | 0 | 500 | |
| Fixed amount - max | 0 | 500 | |
| Reason for variation | N/A | Only for 1st-cycle loans | |
| Appears on Repayment Sched? | No | 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 | 10.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | 3.00% |
| Maximum interest rate paid | 3.00% |
| Interest payment frequency | Quarterly |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | MWK 50,000 | MWK 100,000 | MWK 200,000 | MWK 300,000 | MWK 400,000 | MWK 500,000 | |||||
| Loan Cycle (1, 2, 3, etc) | 5 | 2 | 1 | 11 | 8 | 4 | |||||
| Disbursement Date | 2012-11-10 | 2012-10-31 | 2012-10-16 | 2012-11-27 | 2012-11-21 | 2012-10-19 | |||||
| Loan Term (Months) | 6.0 months | 6.0 months | 6.0 months | 6.0 months | 6.0 months | 12.0 months | |||||
| Grace Period (Months) | 0.0 months | 0.1 months | 0.0 months | 0.2 months | 0.1 months | 0.0 months | |||||
| Total Cost of Credit | MWK 10,994.20 | MWK 21,988.34 | MWK 43,976.68 | MWK 61,402.86 | MWK 81,870.50 | MWK 192,109.72 | |||||
| True Price by Comp | |||||||||||
| Interest price component | 65.6% | 64.9% | 64.8% | 57.7% | 60.4% | 60.7% | |||||
| Fee Component | 5.5% | 5.4% | 5.4% | 5.1% | 5.4% | 3.1% | |||||
| Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
| Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
| Full APR (int fee ins tax dep) | 71.1% | 70.3% | 70.2% | 62.8% | 65.8% | 63.8% | |||||
| Transparency Index | 84 | 85 | 86 | 95 | 91 | 94 | |||||
| Original Repayment Schedule | |||||||||||
| MFT Pricing Calculation |
| Sample 4 | Sample 5 | Sample 6 | |||
|---|---|---|---|---|---|
| Loan Amount | MWK 100,000 | MWK 300,000 | MWK 500,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2012-11-23 | 2012-07-30 | 2013-01-25 | ||
| Loan Term (Months) | 6.0 months | 6.0 months | 8.0 months | ||
| Grace Period (Months) | 0.4 months | 0.4 months | 0.3 months | ||
| Total Cost of Credit | MWK 25,000 | MWK 74,000 | MWK 158,000 | ||
| True Price by Comp | |||||
| Interest price component | 61.1% | 60.6% | 64.0% | ||
| Fee Component | 13.4% | 12.2% | 9.9% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 18.7% | 18.2% | 19.0% | ||
| Full APR (int fee ins tax dep) | 93.2% | 91.0% | 92.9% | ||
| Transparency Index | 45 | 46 | 45 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
|---|---|---|---|---|---|---|---|
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