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Institution

Malawi Rural Development Fund Head OfficeLilongwePO Box 779
Data approved: 2012-11-25
Data version: 2
Age of data: 106 months

Product

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Product Details

Key Statistics
Outstanding portfolio (MWK)MWK 994,727,000
Portfolio (USD)USD 2,550,582.05
Active Clients with Loans166,575
Approximate % Female Clients40% - 60%
Approximate % Urban Clients0% - 20%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
These group loans are given to both rural and urban folks. It is required that women are included in each group.
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 trainingx
OtherGroup Dynamics
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 institution24
# Regions for this product28
Regions ActiveDedza, Dowa, Kasungu, Lilongwe, Mchinji, Nkhotakota, Ntcheu, Ntchisi, Salima, ChitipaKaronga, Likoma, Mzimba, Nkhata Bay, Rumphi, Balaka, Blantyre, Chikwawa, Chiradzulu, MachingaMangochi, Mulanje, Mwanza, Nsanje, Thyolo, Phalombe, Zomba, Neno

Loan Conditions

Loan Amount
CurrencyMWK
Minimum loan sizeMWK 150,000
Maximum loan size500,000
Distribution at Disbursement (Est.)
Loans less than MWK 50,0000
MWK 50,000-150,0000
MWK 150,000-250,00020%
MWK 250,000-350,00030%
MWK 350,000-450,00030%
Greater than MWK 450,00030%
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term18.0 months
Approx average12.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months50%
Between 13 and 18 months50%
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period1.0 month
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

Pricing Information

Interest
Lowest quoted nominal interest28.00%
Highest quoted nominal interest28.00%
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termNo
Upfront Fees
Fee 1
DescriptionLoan Processing Fee
% of loan amount - min2.40%
% of loan amount - max2.40%
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
Ins 1
DescriptionLife Insurance
% of loan amount - min0.50%
% of loan amount - max0.50%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
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

Full Pricing Data

Group Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountMWK 144,110MWK 300,000MWK 112,700MWK 500,000
Loan Cycle (1, 2, 3, etc)11Not KnownNot Known
Disbursement Date2012-05-302012-02-292012-08-232012-07-03
Loan Term (Months)24.0 months15.0 months24.0 months16.0 months
Grace Period (Months)0.0 months2.9 months-0.7 months4.0 months
Total Cost of CreditMWK 48,075.19MWK 65,076MWK 36,556.30MWK 115,540
True Price by Comp       
Interest price component26.6%22.4%27.7%21.4%
Fee Component2.5%3.2%2.8%2.9%
Insurance Component0.6%0.6%0.6%0.6%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)29.7%26.2%31.1%24.9%
Transparency Index9410090100
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
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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