| Number borrowers | 1,425 |
| Loan Amount (range) | MWK 18,000 - 80,000 |
| Loan Term (range) | 3 - 7 |
| Other Services (text summary) | Credit Educ, Group Mtgs, Tech Asst Visits, Business Training, Other Training, Group Dynamics |
| Annual Interest & Method | 57.00% annual, Flat |
| Fees | None |
| Insurance | None |
| Tax | None |
| Comp Dep | 10.00%-20.00% upfront |
| Range of pricing | |
| Interest Price Component | 36.2% - 108.4% |
| Fee Component | 0 |
| Insurance Component | 0 |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 45.9% - 83.7% |
| Transparency Index (min/max) | 36 - 124 |
| Transparency Index (average) | 83 |
| 466 |
| USD 500 - 25,000 |
| 6 - 48 |
| Credit Ins |
| 18.0%-36.0% annual, Decl Bal |
| None |
| 0.36%-2.88% ongoing |
| None |
| N/A |
| 19.1% - 36.0% |
| 0 |
| 0.6% - 0.9% |
| 0 |
| 19.8% - 26.7% |
| 52 - 95 |
| 77 |
| Outstanding portfolio (MWK) | MWK 45,578,634 |
| Portfolio (USD) | USD 116,868.29 |
| Active Clients with Loans | 1,425 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | |
| Solidarity group | |
| 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 | |
| Workplace visits | x |
| Business training | x |
| Other training | x |
| Other | Group Dynamics |
| 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 | 18 |
| # Regions for this product | 8 |
| Regions Active | Dowa, Nkhotakota, Ntcheu, Ntchisi, Salima, Mzimba, Nkhata Bay, Rumphi |
| Outstanding portfolio (USD) | USD 1,736,926.16 |
| Portfolio (USD) | USD 1,736,926.16 |
| Active Clients with Loans | 466 |
| Approximate % Female Clients | 20% - 40% |
| 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 | |
| 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 | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Debe estar afiliado a alguna asociacion, cooperativa y /o Sindicato de transporte. |
| Other (2) |
| # Regions for this institution | 2 |
| # Regions for this product | 1 |
| Regions Active | Santa Cruz |
| Currency | MWK |
| Minimum loan size | MWK 18,000 |
| Maximum loan size | 80,000 |
| Loans less than MWK 50,000 | 70% |
| MWK 50,000-150,000 | 30% |
| 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 | 3.0 months |
| Longest loan term | 7.0 months |
| Approx average | 4.0 months |
| Loans 3 months or less | 5% |
| Between 4 and 6 months | 15% |
| Between 7 and 9 months | 80% |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 2.0 months |
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | x |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Currency | USD |
| Minimum loan size | USD 500 |
| Maximum loan size | 25,000 |
| Loans less than USD 1,500 | 5% |
| USD 1,500-5,000 | 30% |
| USD 5,000-10,000 | 30% |
| USD 10,000-15,000 | 20% |
| USD 15,000-18,000 | 5% |
| Greater than USD 18,000 | 5% |
| Shortest loan term | 6.0 months |
| Longest loan term | 48.0 months |
| Approx average | 38.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 100% |
| 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 |
| Lowest quoted nominal interest | 4.75% |
| Highest quoted nominal interest | 4.75% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| 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 | 10.00% - 20.00% |
| 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 | 5.00% |
| Maximum interest rate paid | 7.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Lowest quoted nominal interest | 18.00% |
| Highest quoted nominal interest | 36.00% |
| Reason(s) why interest rate varies | Time as Client, Loan Size, Client Risk, Collateral |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Ins 1 | |
|---|---|
| Description | Pago del seguro de desgravamen |
| % of loan amount - min | 0.36% |
| % of loan amount - max | 2.88% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Se aplica 0.06% en cada cuota cargado en el saldo pendiente del principal |
| Appears on Repayment Sched? | Yes |
| 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 |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | MWK 20,000 | MWK 30,000 | MWK 45,000 | MWK 50,000 | |||
| Loan Cycle (1, 2, 3, etc) | 7 | 2 | 7 | 4 | |||
| Disbursement Date | 2012-11-07 | 2012-11-07 | 2012-11-07 | 2012-11-07 | |||
| Loan Term (Months) | 7.0 months | 7.0 months | 7.0 months | 7.0 months | |||
| Grace Period (Months) | 4.1 months | 2.1 months | 4.1 months | 4.1 months | |||
| Total Cost of Credit | MWK 5,600 | MWK 8,400 | MWK 12,600 | MWK 10,000 | |||
| True Price by Comp | |||||||
| Interest price component | 49.0% | 60.4% | 49.0% | 36.2% | |||
| Fee Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 33.7% | 23.3% | 12.7% | 9.7% | |||
| Full APR (int fee ins tax dep) | 82.7% | 83.7% | 61.7% | 45.9% | |||
| Transparency Index | 69 | 68 | 92 | 100 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | USD 1,501 | USD 3,500 | USD 15,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-12-27 | 2013-12-27 | 2013-12-27 | ||
| Loan Term (Months) | 20.0 months | 31.0 months | 19.0 months | ||
| Grace Period (Months) | 0.5 months | 0.5 months | 0.5 months | ||
| Total Cost of Credit | USD 384.85 | USD 1,299.01 | USD 2,646.21 | ||
| True Price by Comp | |||||
| Interest price component | 26.1% | 24.1% | 19.1% | ||
| Fee Component | 0.0% | 0.0% | 0.0% | ||
| Insurance Component | 0.6% | 0.7% | 0.7% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 26.7% | 24.8% | 19.8% | ||
| Transparency Index | 67 | 73 | 91 | ||
| 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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