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Designing Savings and Loan Products

Author: Graham A.N. Wright
Published: February 01, 2010


In “Portfolios of the Poor – How the World’s Poor Live on $2 a Day”, Collins et al. note that poor people face what they call the “triple whammy”: not only are their incomes low, but they are also unpredictable. Furthermore, because they are financially excluded, poor people lack the financial instruments to help them manage what little, irregular income they have. This paper examines this in detail by looking at a typical year in the life of Pon, Melodia and their two children, using MicroSave’s seasonality analysis, which traces households’ income, expenditure, loans and savings over time. The paper provides examples of organisations that have implemented such systems with great success and highlights Grameen Bank’s Grameen II system in particular. It concludes with an overview of a systematic product development process – essential to develop, test and roll out new products in a low risk, highly effective manner … and to ensure their success.

Tags: Microfinance , Product development , ROSCAs , Savings , Credit , South Asia , Grameen bank

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