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158 months old and may not represent the prices currently charged.
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Institution
Data approved: 2011-12-07
Data version: 1
Age of data: 158 months
Key Statistics
| Outstanding portfolio (GHS) | GHS 35,000 |
| Portfolio (USD) | USD 17,766.50 |
| Active Clients with Loans | 181 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 40% - 60% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
Loan provided to a group of people, mostly women.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | x |
| Consumer loan | x |
| Agriculture | |
| Education | x |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | |
| Business training | x |
| 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 | 1 |
| # Regions for this product | 1 |
| Regions Active | Western Region |
Loan Conditions
Loan Amount
| Currency | GHS |
| Minimum loan size | GHS 100 |
| Maximum loan size | 5,000 |
Loan Term and Grace Period
| Shortest loan term | 1.0 month |
| Longest loan term | 6.0 months |
| Approx average | 3.0 months |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0 |
Repayment Frequency
| Daily | |
| Weekly | x |
| Every 2 weeks | x |
| 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 | 6.00% |
| Highest quoted nominal interest | 7.35% |
| Reason(s) why interest rate varies | Time as Client, Client Risk, Loan Purpose |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Administration Fee |
| % of loan amount - min | 4.00% |
| % of loan amount - max | 4.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing 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? | No |
| Do borrowers control deposit in their group? | No |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 20.00% - N/A |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | |
Interest Paid on Deposit
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Our licence does not allow us to take savings. The money we ask group to save if to check how they organize themselves and if they are ready for the loan, it is more a collateral.
Full Pricing Data
Group Loan samples
| Sample 1 | | Sample 2 | | Sample 3 |
|---|
| Loan Amount | GHS 700 | | GHS 1,400 | | GHS 3,200 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | 3 |
| Disbursement Date | 2011-04-05 | | 2011-04-20 | | 2011-02-11 |
| Loan Term (Months) | 2.1 months | | 2.1 months | | 3.0 months |
| Grace Period (Months) | 1.0 month | | 1.0 month | | 0.0 months |
| Total Cost of Credit | Not Known | | Not Known | | Not Known |
| True Price by Comp | | | | | |
| Interest and Fee Component | 207.8% | | 168.1% | | 195.7% |
| Insurance Component | 0.0% | | 0.0% | | 0.0% |
| Tax Component | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 103.9% | | 74.1% | | 96.6% |
| Full APR (int fee ins tax dep) | 311.7% | | 242.2% | | 292.3% |
| Transparency Index | 23 | | 30 | | 25 |
| | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF |
