| Outstanding portfolio (ETB) | ETB 827,821 |
| Portfolio (USD) | USD 44,990.27 |
| Active Clients with Loans | 243 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | x |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| 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) |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | ETB |
| Minimum loan size | ETB 3,000 |
| Maximum loan size | 5,000 |
| Shortest loan term | 6.0 months |
| Longest loan term | 12.0 months |
| Approx average | 9.0 months |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | x |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 17.50% |
| Highest quoted nominal interest | 17.50% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Service Charge |
| % of loan amount - min | 2.50% |
| % of loan amount - max | 2.50% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? | No |
| Ins 1 | |
|---|---|
| Description | Credit Life Insurance |
| % 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? | No |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? |
| % loan amount deposited | 10.00% - N/A |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | ETB 10 - N/A |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | 5.00% |
| Maximum interest rate paid | 5.00% |
| Interest payment frequency | Monthly |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | ETB 3,000 | ETB 3,000 | ETB 3,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2011-03-13 | 2011-03-13 | 2011-03-13 | ||
| Loan Term (Months) | 6.0 months | 6.0 months | 6.0 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 | 38.7% | 38.7% | 38.7% | ||
| Insurance Component | 7.6% | 7.6% | 7.6% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 9.3% | 9.3% | 9.3% | ||
| Full APR (int fee ins tax dep) | 55.6% | 55.6% | 55.6% | ||
| Transparency Index | 31 | 31 | 31 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Institution Type | Credit Union / Cooperative |
| Is this institution regulated? | Yes |
| Website address | http://www.zigamacss.com/ |
| Year established | 1998 |
| Head of Institution | Geoffrey Byegeka |
| Regions active | Bugesera, Gasabo, Gicumbi, Huye, Karongi, Kicukiro, Muhanga, Musanze, Ngoma, Nyagatare, Nyarugenge |
| # Branches | 16 |
| Total Portfolio (nat'l) | RWF 38,189,281,936 |
| Total Portfolio (USD) | USD 59,670,753.03 |
| Active clients with loans | 53,806 |
| Approximate % female clients | 0% - 20% |
| Approximate % urban clients | 0% - 20% |
| Network affiliations | Rwanda Banking Association |
| Funders |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Medium Term Loan | RWF 1,000,000 - 50,000,000 | 36 - 60 | 0% - 20% | 0% - 20% | Any Purpose | Women, Men, Only members - soldiers, police officers, veterans, Spouses and widows of these groups | Credit Educ | |||||||
| Short Term Loan | RWF 100,000 - 5,000,000 | 3 - 36 | 0% - 20% | 0% - 20% | Business, Consumer, Education, Other, Medicals bills, Insurance, Marriage | Women, Men, Only members - soldiers, police officers, veterans, Spouses and widows of these groups | Credit Educ |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Medium Term Loan | 13.00%-13.50% annual, Decl Bal | 2 Fees | 0 Ins | None | 10.00% upfront | 13.1% - 14.4% | 15.6% - 17.3% | 78 | ||||||||
| Short Term Loan | 15.00% annual, Decl Bal | 2 Fees | 0 Ins | None | 30.00% upfront | 14.2% - 39.9% | 24.7% - 57.5% | 41 |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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