Number borrowers | 285 |
Loan Amount (range) | GHS 100 - 3,000 |
Loan Term (range) | 6 - 12 |
Other Services (text summary) | Credit Educ, Group Mtgs, Tech Asst Visits, Business Training |
Annual Interest & Method | 36.00%-54.00% annual, Decl Bal |
Fees | None |
Insurance | None |
Tax | None |
Comp Dep | N/A |
Range of pricing | |
Interest Price Component | 23.8% - 49.8% |
Fee Component | 0 |
Insurance Component | 0 |
Tax Component Range | 0 |
Full APR (int fee ins tax dep) | 40.8% - 41.5% |
Transparency Index (min/max) | 72 - 126 |
Transparency Index (average) | 87 |
8,350 |
KES 10,000 - 500,000 |
6 - 36 |
Credit Educ, Group Mtgs, Credit Ins, Other Training, Fire/Burglary Insurance |
22.0% annual, Flat |
500.00-0.00 upfront upfront |
1.60%-3.00% upfront |
None |
20.0% upfront 100.00 ongoing |
29.8% - 41.0% |
2.6% - 20.5% |
1.8% - 6.9% |
0 |
64.2% - 135.0% |
16 - 36 |
26 |
Outstanding portfolio (GHS) | GHS 32,900 |
Portfolio (USD) | USD 16,700.51 |
Active Clients with Loans | 285 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 40% - 60% |
Individual | x |
Solidarity group | x |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
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 | x |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | 3 |
# Regions for this product | 3 |
Regions Active | Greater Accra Region, Central Region, Eastern Region |
Outstanding portfolio (KES) | KES 354,023,376 |
Portfolio (USD) | USD 4,275,644.64 |
Active Clients with Loans | 8,350 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 60% - 80% |
Individual | |
Solidarity group | x |
Village banking | x |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | x |
Workplace visits | |
Business training | |
Other training | x |
Other | Fire/Burglary Insurance |
Other (2) | |
No other services |
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 | Must have run a business for at least 12 months |
Other (2) |
# Regions for this institution | 4 |
# Regions for this product | 4 |
Regions Active | Nairobi, Nyanza, Rift Valley, Western |
Currency | GHS |
Minimum loan size | GHS 100 |
Maximum loan size | 3,000 |
Loans less than GHS 1,000 | 60% |
GHS 1,000-5,000 | 40% |
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 | 80% |
Between 7 and 9 months | 20% |
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 |
Currency | KES |
Minimum loan size | KES 10,000 |
Maximum loan size | 500,000 |
Loans less than KES 50,000 | 30% |
KES 50,000-150,000 | 40% |
KES 150,000-250,000 | 20% |
KES 250,000-350,000 | 5% |
KES 350,000-450,000 | 5% |
Greater than KES 450,000 | 5% |
Shortest loan term | 6.0 months |
Longest loan term | 36.0 months |
Approx average | DK |
Loans 3 months or less | 0 |
Between 4 and 6 months | 20% |
Between 7 and 9 months | 15% |
Between 10 and 12 months | 50% |
Between 13 and 18 months | 15% |
Longer than 18 months | 0 |
Grace period usage | 10% |
Average grace period | DK |
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 |
Lowest quoted nominal interest | 3.00% |
Highest quoted nominal interest | 4.50% |
Reason(s) why interest rate varies | Branch, Time as Client, Loan Size, Client Risk, Loan Purpose, The variable terms of bank loans received by CEDEF. |
Interest rate period | Monthly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | No |
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 |
Lowest quoted nominal interest | 22.00% |
Highest quoted nominal interest | 22.00% |
Reason(s) why interest rate varies | Branch, Time as Client |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Loan Application Fee | Chattels Fee | |
% of loan amount - min | 0 | 0 | |
% of loan amount - max | 2.00% | 0 | |
OR, Fixed amount - min | 500 | 0 | |
Fixed amount - max | 0 | 1,300 | |
Reason for variation | 2% with KES 500 minimum | Only on loans over KES 100,000 | |
Appears on Repayment Sched? | Yes | Yes |
Ins 1 | |
---|---|
Description | Insurance Fee |
% of loan amount - min | 1.60% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | <12 month =1.6%, 13-24 months=1.75%, 25+ months=3%. Either upfront or continuing. |
Appears on Repayment Sched? | Yes |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 20.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | KES 100 |
Conditions on access to deposit | Access During |
Minimum interest rate paid | 1.00% |
Maximum interest rate paid | 1.00% |
Interest payment frequency | Annually |
Are taxes charged on this product? | No |
Sample 1 | Sample 3 | Sample 4 | |||
---|---|---|---|---|---|
Loan Amount | GHS 300 | GHS 1,500 | GHS 3,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2012-12-10 | 2012-12-10 | 2012-12-15 | ||
Loan Term (Months) | 7.0 months | 7.0 months | 7.0 months | ||
Grace Period (Months) | 0.9 months | 0.9 months | 1.0 month | ||
Total Cost of Credit | GHS 43.89 | GHS 219.39 | GHS 438.78 | ||
True Price by Comp | |||||
Interest price component | 41.5% | 41.5% | 40.8% | ||
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) | 41.5% | 41.5% | 40.8% | ||
Transparency Index | 87 | 87 | 88 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
---|---|---|---|---|---|---|---|---|---|
Loan Amount | KES 10,000 | KES 20,000 | KES 47,000 | KES 100,000 | KES 300,000 | ||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
Disbursement Date | 2013-05-30 | 2013-05-30 | 2013-05-29 | 2013-05-02 | 2013-05-08 | ||||
Loan Term (Months) | 5.8 months | 6.0 months | 12.0 months | 12.0 months | 18.0 months | ||||
Grace Period (Months) | 0.2 months | 0.2 months | 0.7 months | 0.5 months | 0.7 months | ||||
Total Cost of Credit | KES 1,714.79 | KES 3,013.97 | KES 12,168.66 | KES 25,539.73 | KES 113,006.52 | ||||
True Price by Comp | |||||||||
Interest price component | 39.3% | 39.3% | 38.5% | 38.7% | 38.4% | ||||
Fee Component | 20.5% | 9.8% | 4.0% | 4.1% | 3.4% | ||||
Insurance Component | 6.9% | 6.4% | 2.6% | 3.3% | 1.8% | ||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Deposit Component | 68.3% | 42.2% | 27.5% | 25.9% | 20.6% | ||||
Full APR (int fee ins tax dep) | 135.0% | 97.7% | 72.6% | 72.0% | 64.2% | ||||
Transparency Index | 16 | 23 | 30 | 31 | 34 | ||||
Original Repayment Schedule | |||||||||
MFT Pricing Calculation |
Key Statistics | |
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# 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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