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Institution
Data approved: 2011-12-23
Data version: 1
Age of data: 158 months
Key Statistics
| Outstanding portfolio (ETB) | ETB 48,000,000 |
| Portfolio (USD) | USD 2,608,695.65 |
| Active Clients with Loans | 32,000 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 40% - 60% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
This product is offered to groups with 3 to 5 members who co-guarantee each other. It has a maximum repayment period of 30 months.
Loan Purpose
| Any purpose | x |
| Income generation | |
| 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 | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| Men | x |
| Women | x |
| Must run a business | |
| 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 | N/A |
| # Regions for this product | N/A |
| Regions Active | |
Loan Conditions
Loan Amount
| Currency | ETB |
| Minimum loan size | ETB 100 |
| Maximum loan size | 30,000 |
Loan Term and Grace Period
| Shortest loan term | 12.0 months |
| Longest loan term | 30.0 months |
| Approx average | 12.0 months |
Grace Period
| Grace period usage | 10% |
| Average grace period | 3.0 months |
Repayment Frequency
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | x |
| Every 6 months | |
| Every 12 months | |
| Single end payment | x |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 16.00% |
| Highest quoted nominal interest | 24.00% |
| Reason(s) why interest rate varies | Depends on the frequency of repayment - Monthly - 16%, Quarterly - 20%, Single End payment - 24% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
This product has no upfront feesOngoing 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 | 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 | 5.00% - 10.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | Access During |
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 |
Additional Comments
10% compulsory savings on loan size up to 5000 ETB, and 5% for above 5000 ETB. Interest on savings is paid every 6 months. Client can access any savings saved afer the first term of savings.
Full Pricing Data
Group Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
|---|
| Loan Amount | ETB 1,000 | | ETB 3,000 | | ETB 4,000 | | ETB 10,000 | | ETB 21,000 | | ETB 30,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2011-10-28 | | 2011-10-23 | | 2011-10-18 | | 2011-10-20 | | 2011-07-20 | | 2011-07-20 |
| Loan Term (Months) | 12.0 months | | 18.0 months | | 18.0 months | | 18.0 months | | 24.0 months | | 24.0 months |
| Grace Period (Months) | 0.0 months | | 0.0 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 | | Not Known | | Not Known |
| True Price by Comp | | | | | | | | | | | |
| Interest and Fee Component | 28.3% | | 28.3% | | 28.4% | | 28.4% | | 30.2% | | 30.2% |
| Insurance Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 4.9% | | 4.8% | | 4.8% | | 2.2% | | 5.0% | | 5.0% |
| Full APR (int fee ins tax dep) | 33.2% | | 33.2% | | 33.2% | | 30.6% | | 35.2% | | 35.2% |
| Transparency Index | 48 | | 48 | | 48 | | 52 | | 45 | | 45 |
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| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
