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Institution

Empowerment Micro Finance institution ltd 72, Sikoongo RoadSiavonga, Zambia, Souther ProvinceP.O.BOX 183
Data approved: 2011-12-12
Data version: 1
Age of data: 123 months

Product

Salary Backed Loan Product 3 of 5 « Prev | Next »

Product Details

Key Statistics
Outstanding portfolio (ZMK)ZMK 93,225,090
Portfolio (USD)USD 18,014.51
Active Clients with Loans51
Approximate % Female Clients20% - 40%
Approximate % Urban Clients60% - 80%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
This loan is paid by installment due by the client through a deduction from his/her payslip. The interest rate for this product is lower than the one foreseen for Individual loans. Collateral are still required.
Loan Purpose
Any purposex
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetings
Credit insurance
Workplace visits
Business training
Other training
Other
Other (2)
No other servicesx
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried workerx
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institutionN/A
# Regions for this productN/A
Regions Active

Loan Conditions

Loan Amount
CurrencyZMK
Minimum loan sizeZMK 500,000
Maximum loan size7,000,000
Loan Term and Grace Period
Shortest loan term2.0 months
Longest loan term10.0 months
Approx average6.0 months
Grace Period
Grace period usage10%
Average grace period0.5 months
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 interest30.00%
Highest quoted nominal interest42.00%
Reason(s) why interest rate variesThe interest rate can vary between 30% and 42% depending on the number of employees within the company that can access the loan. The past performances of the employer in term of creditwortiness are also considered
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionApplication Fee
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min10,000
Fixed amount - max10,000
Reason for variationN/A
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 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

Salary Backed Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountZMK 1,200,000ZMK 3,000,000ZMK 3,000,000ZMK 4,000,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2010-11-182010-11-182010-11-182010-11-24
Loan Term (Months)7.0 months12.0 months12.0 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot Known
True Price by Comp       
Interest and Fee Component50.6%50.3%50.3%48.9%
Insurance Component0.0%0.0%0.0%0.0%
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)50.6%50.3%50.3%48.9%
Transparency Index59606061
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
Salary Backed Loan Price Graphs


Institution # Borrowers Portfolio (US$) Products Age of Data
AGFS20047,0002117
Ahantaman RB23,8009,896,000499
APED13,7001,876,000299
ASA Initiative4,400577,000499
ASA-Ghana71,60018,385,000299
ASPI80088,000699
Atwima Kwanwoma3,8001,788,000299
Baobab5,100967,000299
BestFUND13,0004,172,000399
Bonzali Rural10,4001,691,0004117
CashPhase83135,000299
CASUD1,100524,000199
CEDEF50054,000499
CFF10013,000199
CRAN3,6001,019,000299
DQF1,70063,000299
EASL9,20011,409,000699
East Mamprusi12,5002,268,000499
ELDA00099
EMPRETEC Ghana20056,000299
FASL13,50014,047,000899
Grameen Ghana9,500507,000399
ID-Ghana5,600953,000399
Innovative Finance2,700354,000399
Kraban Support7,700781,0005117
KRB4,0006,350,000399
Lower Pra RB34,0006,316,0003117
Maata-N-Tudu12,000941,000499
Mail Finance300288,000199
Markaz00099
Markaz Al Bishara10017,000199
MicrofinPlus Gh1,100251,000299
Nwabiagya RB4,0002,265,000399
OISL62,00027,232,000999
Pro Credit00099
Rich Step100101,000199
SAT147,60029,359,000499
Sekam Trust600137,000299
Simli Pong8,900463,0003117
SS Ghana20035,000199
TCCU10032,000399
The Bridge40032,0003117
Union RB3,8002,361,000499
Caps / Zoom options
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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