Outstanding portfolio (MWK) | MWK 738,988,641 |
Portfolio (USD) | USD 1,894,842.67 |
Active Clients with Loans | 10,659 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 0% - 20% |
Individual | x |
Solidarity group | x |
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 | |
Business training | x |
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 | Running a farming enterprise |
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 | MWK |
Minimum loan size | MWK 200,000 |
Maximum loan size | 50,000,000 |
Loans less than MWK 50,000 | 0 |
MWK 50,000-150,000 | 0 |
MWK 150,000-250,000 | 20% |
MWK 250,000-350,000 | 30% |
MWK 350,000-450,000 | 20% |
Greater than MWK 450,000 | 20% |
Shortest loan term | 3.0 months |
Longest loan term | 48.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 10% |
Between 7 and 9 months | 10% |
Between 10 and 12 months | 20% |
Between 13 and 18 months | 20% |
Longer than 18 months | 40% |
Grace period usage | 70% |
Average grace period | 6.0 months |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | x |
Irregular payments |
Lowest quoted nominal interest | 37.00% |
Highest quoted nominal interest | 40.00% |
Reason(s) why interest rate varies | Time as Client, Client Risk |
Interest rate period | Yearly |
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 | 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? | 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 4 | |||
---|---|---|---|---|---|
Loan Amount | MWK 200,000 | MWK 300,000 | MWK 500,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2012-10-04 | 2012-10-04 | 2012-10-04 | ||
Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | ||
Grace Period (Months) | 11.0 months | 11.0 months | 11.0 months | ||
Total Cost of Credit | MWK 78,000 | MWK 116,000 | MWK 195,000 | ||
True Price by Comp | |||||
Interest price component | 31.8% | 31.6% | 31.8% | ||
Fee Component | 2.1% | 2.0% | 2.1% | ||
Insurance Component | 0.0% | 0.0% | 0.0% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 5.1% | 5.1% | 5.1% | ||
Full APR (int fee ins tax dep) | 39.0% | 38.7% | 39.0% | ||
Transparency Index | 95 | 96 | 95 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Institution Type | Non-Governmental Organization |
Is this institution regulated? | Yes |
Website address | N/A |
Year established | 2004 |
Head of Institution | Ana Maria da C. Salvador |
Regions active | Maputo Capital, Maputo Province, Inhambane, Gaza |
# Branches | 3 |
Total Portfolio (nat'l) | MZN 7,213 |
Total Portfolio (USD) | USD 237.27 |
Active clients with loans | 30,483,957 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 0% - 20% |
Network affiliations | MIX Market, AMOMIF, AFRACA |
Funders | FARE-Fundo de Apoio a Rehabilitacao Economica, UNCDF, Caixa Catalunya, BIM |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Credito Agricultura | MZN 640 - 100,000 | 2 - 6 | 80% - 100% | 0% - 20% | Agriculture | Women, Men, Have business, Tem de ser agricultor/avicultor desde min 6 meses | Group Mtgs, Tech Asst Visits | |||||||
Credito Geral | MZN 640 - 350,000 | 2 - 6 | 80% - 100% | 0% - 20% | Business, Consumer | Women, Have business, Salaried worker, tem de ser empresrio pelo menos 6 meses ou ser salariado | Group Mtgs, Credit Ins, Tech Asst Visits | |||||||
Credito Jovem | MZN 3,000 - 20,000 | 2 - 6 | 80% - 100% | 0% - 20% | Any Purpose | Women, Men, Specific age group, Idade 18-30 anos | Credit Educ, Group Mtgs | |||||||
Credito ao Consumo | MZN 3,000 - 350,000 | 2 - 18 | 80% - 100% | 0% - 20% | Any Purpose | Women, Men | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Credito Agricultura | 36.0% annual, Flat | 1 Fee | 1 Ins | None | 10.00% ongoing | 35.4% - 37.5% | 39.4% - 42.8% | 87 | ||||||||
Credito Geral | 60.0%-66.0% annual, Flat | 1 Fee | 1 Ins | None | 10.00% ongoing | 71% - 91% | 79.8% - 102.1% | 63 | ||||||||
Credito Jovem | 42.0% annual, Flat | 1 Fee | 1 Ins | None | 10.00% ongoing | 61.7% - 65.4% | 71% - 75.1% | 57 | ||||||||
Credito ao Consumo | 60.0%-66.0% annual, Flat | 1 Fee | 1 Ins | None | 10.00% ongoing | 72.4% - 78.8% | 79.6% - 88.4% | 70 |
Key Statistics | |
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Loan Portfolio (USD) | |
% Products using declining balance | |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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