Opportunity International Bank of Malawi - Masiko (Group) Loan - MFTransparency.org Truth In Lending Tables

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Institution

Opportunity International Bank of Malawi Private Bag A71Lilongwe, Central Region

Data approved: 2011-01-06

Data version: 1

Age of data: - months

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Product

Masiko (Group) Loan Product 2 of 4 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (MWK)	MWK 505,435,000
Portfolio (USD)	USD 3,369,567
Active Clients with Loans	29,921
Approximate % Female Clients	40% - 60%
Approximate % Urban Clients	20% - 40%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

This is a group loan given to individuals running small businesses. Group members self select and come from the same area. The loan is secured by the group's mutual guarantee. Members get transformation lessons as a benefit.\r

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education	x
Group meetings	x
Credit insurance
Workplace visits
Business training	x
Other training
Other	Help clients to save during loan repayment
Other (2)
No other services

Eligibility

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)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	N/A
# Regions for this product	N/A
Regions Active

Loan Conditions

Loan Amount

Currency	MWK
Minimum loan size	MWK 35,000
Maximum loan size	2,000,000

Loan Term and Grace Period

Shortest loan term	4.0 months
Longest loan term	9.0 months
Approx average	6.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	N/A
Between 4 and 6 months	N/A
Between 7 and 9 months	N/A
Between 10 and 12 months	N/A
Between 13 and 18 months	N/A
Longer than 18 months	N/A

Grace Period

Grace period usage	30%
Average grace period	1.0 month

Repayment Frequency

Daily
Weekly
Every 2 weeks	x
Every 4 weeks
Monthly	x
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	2.75%
Highest quoted nominal interest	2.75%
Interest rate period	4 Weeks
Interest Rate Calculation Method	Flat
Subsidized by funder request?	N/A
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Processing Fees
% of loan amount - min	2.50%
% of loan amount - max	2.50%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

This product has no upfront insurance fees

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	All
Criteria	N/A
Is deposit indicated on the repayment schedule?
Do borrowers control deposit in their group?

Deposit BEFORE or AT Disbursement

% loan amount deposited	15.00% - N/A
or, Fixed-amount deposited	0 - N/A

Deposits DURING period payments

% loan amount deposited	0 - N/A
or, Fixed-amount deposited	0 - N/A
Conditions on access to deposit	Final Pmt

Interest Paid on Deposit

Minimum interest rate paid	6.00%
Maximum interest rate paid	6.00%
Interest payment frequency	Monthly

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Masiko (Group) Loan samples

	Sample 1	Sample 1	Sample 1	Sample 1	Sample 1
Loan Amount	MWK 60,000	MWK 120,000	MWK 230,000	MWK 360,000	MWK 490,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2012-11-14	2012-11-14	2012-11-14	2012-11-14	2012-11-14
Loan Term (Months)	5.0 months	5.0 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
Total Cost of Credit	Not Known	Not Known	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	61.0%	59.9%	63.0%	62.7%	0.0%
Insurance Component	0.0%	0.0%	0.0%	0.0%	63.0%
Tax Component	0.0%	0.0%	0.0%	0.0%	-63.0%
Deposit Component	16.6%	15.9%	18.0%	17.8%	81.0%
Full APR (int fee ins tax dep)	77.6%	75.9%	81.0%	80.5%	81.0%
Transparency Index	46	47	44	44	44

Original Repayment Schedule	PDF	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF	PDF

Masiko (Group) Loan Price Graphs

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
ACAWE	100	16,000	2	149
AfricaWorks	6,500	1,843,000	8	111
AZADER	200	3,000	2	150
BOM	18,900	6,422,000	3	119
CCOM	9,100	2,995,000	6	134
FDM	7,200	1,002,000	4	134
Hluvuku-ADSEMA	5,300	2,959,000	3	134
IRAM	0	0	0	134
ProCredit	0	0	0	134
Tchuma	0	0	0	134
SOCREMO		-	N/A	162

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

	X Axis
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N (# of Samples)
Total Borrrowers of Samples


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By Country

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