Sidama MFI - Housing Loan - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 158 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Sidama MFI Head OfficeHawassaPO Box 565

Data approved: 2011-12-23

Data version: 1

Age of data: 158 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (ETB)	ETB 555,000
Portfolio (USD)	USD 30,163.04
Active Clients with Loans	8,465
Approximate % Female Clients	0% - 20%
Approximate % Urban Clients	80% - 100%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

This loan is for those who want to build and maintain their houses. This is for individuals.

Loan Purpose

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

Included Services

Credit education
Group meetings
Credit insurance	x
Workplace visits
Business training
Other training
Other
Other (2)
No other services

Eligibility

Men	x
Women	x
Must run a business
Must own a home or land	x
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	ETB
Minimum loan size	ETB 10,000
Maximum loan size	100,000

Loan Term and Grace Period

Shortest loan term	12.0 months
Longest loan term	24.0 months
Approx average	24.0 months

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

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

Pricing Information

Interest

Lowest quoted nominal interest	15.00%
Highest quoted nominal interest	18.00%
Reason(s) why interest rate varies	18% for loans that are 12 months, 15% for loans that are 24 months
Interest rate period	Yearly
Interest Rate Calculation Method	Flat
Subsidized by funder request?
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Service Charge
% of loan amount - min	2.00%
% of loan amount - max	2.00%
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

	Ins 1
Description	Loan Insurance
% of loan amount - min	0
% of loan amount - max	2.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	The MFI provides insurance for loans <30,000 ETB. Loans >30,000 birr are insured by external provider
Appears on Repayment Sched?	No

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?	Yes
Do borrowers control deposit in their group?

Deposit BEFORE or AT Disbursement

% loan amount deposited	6.00% - N/A
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	ETB 20 - N/A
Conditions on access to deposit	End Term

Interest Paid on Deposit

Minimum interest rate paid	5.00%
Maximum interest rate paid	5.00%
Interest payment frequency	Annually

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Additional Comments

Interest on saving is compounded on quarterly basis.

Full Pricing Data

Housing Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	ETB 12,000	ETB 12,000	ETB 16,000	ETB 20,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2011-08-11	2011-08-10	2011-08-10	2011-08-05
Loan Term (Months)	24.0 months	24.0 months	24.0 months	12.0 months
Grace Period (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
True Price by Comp
Interest and Fee Component	28.7%	28.7%	28.7%	35.6%
Insurance Component	2.2%	2.2%	2.2%	4.1%
Tax Component	0.0%	0.0%	0.0%	0.0%
Deposit Component	3.7%	3.7%	3.5%	4.4%
Full APR (int fee ins tax dep)	34.6%	34.6%	34.5%	44.2%
Transparency Index	43	43	44	34

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

Housing Loan Price Graphs

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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

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Total Borrrowers of Samples


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