Bonzali Rural Bank - Personal and Salary Loan - MFTransparency.org Truth In Lending Tables

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Institution

Bonzali Rural Bank KumbunguNorthern RegionPO Box 1197

Data approved: 2011-12-07

Data version: 1

Age of data: 158 months

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Product

Personal and Salary Loan Product 4 of 4 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (GHS)	GHS 307,054
Portfolio (USD)	USD 155,864.97
Active Clients with Loans	1,000
Approximate % Female Clients	40% - 60%
Approximate % Urban Clients	60% - 80%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

This loan is for individuals and salary workers. They are given an interest rate of 30% which must not exceed a 12 month term.

Loan Purpose

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

Included Services

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

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)

# 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	GHS
Minimum loan size	GHS 100
Maximum loan size	2,000

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	12.0 months
Approx average	12.0 months

Grace Period

Grace period usage	100%
Average grace period	dk

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	30.00%
Highest quoted nominal interest	30.00%
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	Commitment Fee
% of loan amount - min	5.00%
% of loan amount - max	5.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation
Appears on Repayment Sched?	Yes

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

This product has no upfront insurance fees

Ongoing 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

Are taxes charged on this product?

Full Pricing Data

Personal and Salary Loan samples

	Sample 1	Sample 2	Sample 3
Loan Amount	GHS 600	GHS 650	GHS 1,700
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2011-09-28	2011-07-08	2011-06-09
Loan Term (Months)	12.0 months	18.0 months	18.0 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	62.1%	59.1%	58.6%
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)	62.1%	59.1%	58.6%
Transparency Index	48	51	51

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

Personal and Salary 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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N (# of Samples)
Total Borrrowers of Samples


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