Outstanding portfolio (GHS) | GHS 15,000 |
Portfolio (USD) | USD 7,614.21 |
Active Clients with Loans | 50 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 40% - 60% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | Start-up businesses |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | |
Workplace visits | x |
Business training | x |
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 | x |
Other | Must be in youth age group |
Other (2) |
# Regions for this institution | 3 |
# Regions for this product | 1 |
Regions Active | Greater Accra Region |
Currency | GHS |
Minimum loan size | GHS 500 |
Maximum loan size | 1,000 |
Loans less than GHS 1,000 | 100% |
GHS 1,000-5,000 | 0 |
GHS 5,000-7,500 | 0 |
GHS 7,500-10,000 | 0 |
GHS 10,000-13,000 | 0 |
Greater than GHS 13,000 | 0 |
Shortest loan term | 6.0 months |
Longest loan term | 12.0 months |
Approx average | 6.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 60% |
Between 7 and 9 months | 40% |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 100% |
Average grace period | 1.0 month |
Daily | |
Weekly | |
Every 2 weeks | x |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 48.00% |
Highest quoted nominal interest | 54.00% |
Reason(s) why interest rate varies | Branch, Time as Client, Loan Size, Client Risk, Loan Purpose |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Required for | Never |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | N/A |
Do borrowers control deposit in their group? | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | GHS 700 | GHS 800 | GHS 900 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2012-12-15 | 2012-12-20 | 2012-12-15 | ||
Loan Term (Months) | 7.0 months | 7.0 months | 7.0 months | ||
Grace Period (Months) | 0.8 months | 0.9 months | 1.1 months | ||
Total Cost of Credit | GHS 100.13 | GHS 113.42 | GHS 131.64 | ||
True Price by Comp | |||||
Interest price component | 40.6% | 41.9% | 40.5% | ||
Fee Component | 0.0% | 0.0% | 0.0% | ||
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) | 40.6% | 41.9% | 40.5% | ||
Transparency Index | 100 | 100 | 100 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Institution Type | Non-Governmental Organization |
Is this institution regulated? | No |
Website address | http://www.rafode.org/ |
Year established | 2005 |
Head of Institution | Antony Mayodi |
Regions active | Nyanza, Rift Valley, Western |
# Branches | 2 |
Total Portfolio (nat'l) | KES 31,000,000 |
Total Portfolio (USD) | USD 374,396.14 |
Active clients with loans | 3,120 |
Approximate % female clients | 60% - 80% |
Approximate % urban clients | 60% - 80% |
Network affiliations | |
Funders |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Business Loan | KES 3,000 - 78,000 | 6 - 18 | 60% - 80% | 60% - 80% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training, Home-based care training, HIV/AIDS counseling |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Business Loan | 18.0%-36.0% annual, Flat | 1 Fee | 1 Ins | None | 20.0% upfront 200.00 ongoing | 38.7% - 125% | 110% - 232.9% | 11 |
Key Statistics | |
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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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