Number borrowers | 334 |
Loan Amount (range) | USD 10,000 - 140,000 |
Loan Term (range) | 120 - 180 |
Other Services (text summary) | Credit Educ, Credit Ins, Tech Asst Visits |
Annual Interest & Method | 10.0%-13.0% annual, Decl Bal |
Fees | 1.00% upfront 6.00% ongoing |
Insurance | None |
Tax | 3.00 fixed |
Comp Dep | N/A |
Range of pricing | |
Interest Price Component | N/A |
Fee Component | 13.2% - 13.9% (Int+Fee) |
Insurance Component | 0 - 0.8% |
Tax Component Range | 0.3% - 6.6% |
Full APR (int fee ins tax dep) | 14.2% - 14.4% |
Transparency Index (min/max) | 58 - 92 |
Transparency Index (average) | 70 |
4,150 |
GHS 100 - 5,000 |
6 - 12 |
Credit Educ, Group Mtgs, Business Training |
20.00%-40.00% annual, Flat |
2 fees |
1.00%-4.00% ongoing |
None |
10.00% upfront |
46.3% - 64.7% |
6.8% - 18.2% |
2.2% - 3.1% |
0 |
78.7% - 91.5% |
22 - 52 |
22 |
Outstanding portfolio (USD) | USD 4,302,502 |
Portfolio (USD) | USD 4,302,502 |
Active Clients with Loans | 334 |
Approximate % Female Clients | 0% - 20% |
Approximate % Urban Clients | 80% - 100% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | x |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | |
Credit insurance | x |
Workplace visits | x |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services |
Men | x |
Women | x |
Must run a business | x |
Must own a home or land | x |
Must be a salaried worker | x |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Outstanding portfolio (GHS) | GHS 2,124,145 |
Portfolio (USD) | USD 1,078,246.19 |
Active Clients with Loans | 4,150 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 60% - 80% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | x |
Consumer loan | |
Agriculture | |
Education | x |
Other household finance | |
Other | Micro School |
Other (2) | Special Agric Loan |
Credit education | x |
Group meetings | x |
Credit insurance | |
Workplace visits | |
Business training | x |
Other training | |
Other | |
Other (2) | |
No other services |
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) |
# Regions for this institution | 10 |
# Regions for this product | 10 |
Regions Active | Greater Accra Region, Central Region, Western Region, Eastern Region, Volta Region, Ashanti Region, Brong Ahafo Region, Northern Region, Upper East Region, Upper West Region |
Currency | USD |
Minimum loan size | USD 10,000 |
Maximum loan size | 140,000 |
Shortest loan term | 120.0 months |
Longest loan term | 180.0 months |
Approx average | 0 |
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 |
Currency | GHS |
Minimum loan size | GHS 100 |
Maximum loan size | 5,000 |
Loans less than GHS 1,000 | 80% |
GHS 1,000-5,000 | 20% |
GHS 5,000-7,500 | 0 |
GHS 7,500-10,000 | 0 |
GHS 10,000-13,000 | 0 |
Greater than GHS 13,000 | 0 |
Shortest loan term | 6.0 months |
Longest loan term | 12.0 months |
Approx average | 8.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 15% |
Between 7 and 9 months | 70% |
Between 10 and 12 months | 15% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 100% |
Average grace period | 1.0 month |
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 | 10.00% |
Highest quoted nominal interest | 13.00% |
Reason(s) why interest rate varies | Loan Size |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Seguro Contra Incendio |
% of loan amount - min | 1.00% |
% of loan amount - max | 1.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | |
Appears on Repayment Sched? | No |
Fee 1 | |
---|---|
Description | Seguro de Vida |
% of loan amount - min | 6.00% |
% of loan amount - max | 6.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
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? | Yes |
Percentage of fees | 0 |
All or some fees taxed | N/A |
Lowest quoted nominal interest | 20.00% |
Highest quoted nominal interest | 40.00% |
Reason(s) why interest rate varies | Time as Client, Loan Size, Loan Purpose |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Processing Fee | Training Fee | |
% of loan amount - min | 3.50% | 0 | |
% of loan amount - max | 3.50% | 0 | |
OR, Fixed amount - min | 0 | 3 | |
Fixed amount - max | 0 | 3 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | Yes | No |
Ins 1 | |
---|---|
Description | Client Welfare Fee |
% of loan amount - min | 1.00% |
% of loan amount - max | 4.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Varies depending on loan term - 6 to 24 months. Fee is 2% p.a |
Appears on Repayment Sched? | No |
Required for | All |
Criteria | Most loans do not have compulsory savings for old clients |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 10.00% |
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 | 8.00% |
Maximum interest rate paid | 8.00% |
Interest payment frequency | Monthly |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | USD 11,200 | USD 15,000 | USD 16,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2010-09-21 | 2010-09-21 | 2010-09-22 | ||
Loan Term (Months) | 120.0 months | 120.0 months | 120.0 months | ||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
Total Cost of Credit | Not Known | Not Known | Not Known | ||
True Price by Comp | |||||
Interest and Fee Component | 13.2% | 13.9% | 13.2% | ||
Insurance Component | 0.7% | 0.0% | 0.7% | ||
Tax Component | 0.4% | 0.3% | 0.3% | ||
Deposit Component | 0.0% | 0.0% | 0.0% | ||
Full APR (int fee ins tax dep) | 14.4% | 14.2% | 14.2% | ||
Transparency Index | 70 | 70 | 70 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | GHS 400 | GHS 600 | GHS 1,500 | GHS 3,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2013-02-18 | 2013-03-12 | 2013-02-04 | 2013-03-12 | |||
Loan Term (Months) | 4.5 months | 4.5 months | 7.0 months | 9.0 months | |||
Grace Period (Months) | 0.5 months | 0.4 months | 0.4 months | 0.5 months | |||
Total Cost of Credit | GHS 80 | GHS 118.52 | GHS 342.54 | GHS 993.52 | |||
True Price by Comp | |||||||
Interest price component | 57.6% | 58.3% | 52.3% | 61.7% | |||
Fee Component | 18.2% | 17.3% | 12.0% | 9.5% | |||
Insurance Component | 2.7% | 2.7% | 2.5% | 2.8% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 13.0% | 13.0% | 11.9% | 13.1% | |||
Full APR (int fee ins tax dep) | 91.5% | 91.3% | 78.7% | 87.1% | |||
Transparency Index | 22 | 22 | 25 | 23 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
Key Statistics | |
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# 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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