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Institution
Data approved: 2013-02-19
Data version: 2
Age of data: 137 months
Key Statistics
Outstanding portfolio (GHS) | GHS 1,796,008 |
Portfolio (USD) | USD 911,679.19 |
Active Clients with Loans | 5,274 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 80% - 100% |
Methodology
Individual | |
Solidarity group | |
Village banking | x |
Self help group | x |
Other | EDM Group Methodology |
Description
Loan product given directly to individuals in a group of 15-30 members. Group members are required to meet weekly for training, loan repayment, and savings depositing.
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 | x |
Other | Life skill training, counciling, and referral services. |
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) | |
Portfolio Size by Product
Geographic Coverage
# Regions for this institution | 1 |
# Regions for this product | 1 |
Regions Active | Greater Accra Region |
Loan Conditions
Loan Amount
Currency | GHS |
Minimum loan size | GHS 100 |
Maximum loan size | 5,000 |
Distribution at Disbursement (Est.)
Loans less than GHS 1,000 | 30% |
GHS 1,000-5,000 | 70% |
GHS 5,000-7,500 | 0 |
GHS 7,500-10,000 | 0 |
GHS 10,000-13,000 | 0 |
Greater than GHS 13,000 | 0 |
Loan Term and Grace Period
Shortest loan term | 3.0 months |
Longest loan term | 9.0 months |
Approx average | 8.0 months |
Distribution at Disbursement (Est.)
Loans 3 months or less | 0 |
Between 4 and 6 months | 80% |
Between 7 and 9 months | 20% |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace Period
Grace period usage | 100% |
Average grace period | 0.5 months |
Repayment Frequency
Daily | |
Weekly | x |
Every 2 weeks | |
Every 4 weeks | |
Monthly | |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments | |
Pricing Information
Interest
Lowest quoted nominal interest | 3.00% |
Highest quoted nominal interest | 3.00% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | Yes |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
---|
Description | Loan 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? | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required for | Never |
Criteria | N/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 deposited | N/A |
or, Fixed-amount deposited | N/A |
Deposits DURING period payments
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Interest Paid on Deposit
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Taxes
Are taxes charged on this product? | No |
Additional Comments
This is a group methodology with individual responsibility. The group is not held responsible when a member defaults . Training are delivered to them as a group.
Full Pricing Data
Onipa Nua (Each other's keepers) samples
| Sample 1 | | Sample 2 | | Sample 3 |
---|
Loan Amount | GHS 300 | | GHS 700 | | GHS 1,400 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
Disbursement Date | 2013-02-01 | | 2013-02-01 | | 2013-02-01 |
Loan Term (Months) | 4.9 months | | 4.9 months | | 4.8 months |
Grace Period (Months) | 0.2 months | | 0.2 months | | 0.2 months |
Total Cost of Credit | GHS 47.54 | | GHS 110.92 | | GHS 221.85 |
True Price by Comp | | | | | |
Interest price component | 60.6% | | 60.6% | | 61.4% |
Fee Component | 9.7% | | 9.7% | | 9.8% |
Insurance Component | 0.0% | | 0.0% | | 0.0% |
Tax Component | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 0.0% | | 0.0% | | 0.0% |
Full APR (int fee ins tax dep) | 70.3% | | 70.3% | | 71.2% |
Transparency Index | 51 | | 51 | | 51 |
| | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF |
Onipa Nua (Each other's keepers) Price Graphs