Institution Type | RurBank |
Is this institution regulated? | Yes |
Website address | N/A |
Year established | 1997 |
Head of Institution | Mr James Acquaye |
Regions active | Northern Region |
# Branches | 3 |
Total Portfolio (nat'l) | GHS 4,468,812 |
Total Portfolio (USD) | USD 2,268,432.49 |
Active clients with loans | 13,801 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 0% - 20% |
Network affiliations | UNDP, TRIAS GHANA, SPEED GHANA, Oxfam |
Funders | TRAIS, UNDP, SPEED, NORTHFIN |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Credit With Education (CWE) Loan | GHS 200 - 1,000 | 6 - 8 | 80% - 100% | 0% - 20% | Business | Women, Have business, Specific age group, Must be 18 years of age., Must have residence in the community near relevant branch. | Credit Ins | |||||||
Salary Loan | GHS 500 - 15,000 | 6 - 36 | 40% - 60% | 0% - 20% | Consumer, Education | Women, Men, Salaried worker | Credit Ins, Overdraft |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Credit With Education (CWE) Loan | 20.00% annual, Flat | 0 Fees | 0 Ins | None | 20.00% upfront | 67% | 97.5% | 20 | ||||||||
Salary Loan | 30.00% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 46.7% - 48.4% | 46.7% - 48.4% | 62 |
Outstanding portfolio (UGX) | UGX 3,118,674,664 |
Portfolio (USD) | USD 1,247,470 |
Active Clients with Loans | 610 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 60% - 80% |
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 | |
Other (2) |
Credit education | |
Group meetings | |
Credit insurance | |
Workplace visits | x |
Business training | |
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 | 1 |
Regions Active | Central |
Currency | UGX |
Minimum loan size | UGX 1,000,000 |
Maximum loan size | 30,000,000 |
Loans less than UGX 1,000,000 | 0 |
UGX 1,000,000-5,000,000 | 15% |
UGX 5,000,000-7,500,000 | 15% |
UGX 7,500,000-10,000,000 | 15% |
UGX 10,000,000-13,000,000 | 15% |
Greater than UGX 13,000,000 | 15% |
Shortest loan term | 6.0 months |
Longest loan term | 24.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 15% |
Between 7 and 9 months | 5% |
Between 10 and 12 months | 60% |
Between 13 and 18 months | 5% |
Longer than 18 months | 15% |
Grace period usage | 0 |
Average grace period | 0 |
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 |
Lowest quoted nominal interest | 25.00% |
Highest quoted nominal interest | 36.00% |
Reason(s) why interest rate varies | Loan Size, Depends on the investor who is funding the client. |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | Yes |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Loan Commission | Loan Application Fee & Registration Fee | |
% of loan amount - min | 4.00% | 0 | |
% of loan amount - max | 6.00% | 0 | |
OR, Fixed amount - min | 0 | 15,000 | |
Fixed amount - max | 0 | 35,000 | |
Reason for variation | 6% for loans 500,000 to 5M, 4% for loans above 5M | 5000 stamp duty, 10000 for existing client, 30000 for new clients | |
Appears on Repayment Sched? | Yes | Yes |
Ins 1 | |
---|---|
Description | Loan Insurance |
% of loan amount - min | 1.00% |
% of loan amount - max | 1.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | 1% for loans < 12 months, 1.5% for loans > 12 months |
Appears on Repayment Sched? | No |
Required for | Some |
Criteria | Required for clients without registerd securities e.g. car log books & land titles |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 10.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | End Term |
Minimum interest rate paid | 0 |
Maximum interest rate paid | 0 |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
---|---|---|---|---|---|---|---|---|---|
Loan Amount | UGX 1,418,397.12 | UGX 3,141,242.50 | UGX 6,023,052 | UGX 9,576,215 | UGX 10,799,556 | ||||
Loan Cycle (1, 2, 3, etc) | 1 | 2 | 3 | 2 | 2 | ||||
Disbursement Date | 2012-05-28 | 2012-05-31 | 2012-03-07 | 2012-05-31 | 2012-02-21 | ||||
Loan Term (Months) | 10.0 months | 12.0 months | 12.0 months | 12.0 months | 18.0 months | ||||
Grace Period (Months) | 0.2 months | 0.1 months | 0.2 months | 0.1 months | 0.1 months | ||||
Total Cost of Credit | UGX 364,502.13 | UGX 880,553.76 | UGX 1,593,608.94 | UGX 2,850,957.85 | UGX 3,812,096.20 | ||||
True Price by Comp | |||||||||
Interest price component | 32.5% | 34.6% | 32.4% | 37.8% | 31.7% | ||||
Fee Component | 19.8% | 12.9% | 12.4% | 12.3% | 8.6% | ||||
Insurance Component | 2.5% | 2.1% | 2.1% | 2.1% | 2.2% | ||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Deposit Component | 11.0% | 9.8% | 9.3% | 10.2% | 8.4% | ||||
Full APR (int fee ins tax dep) | 65.8% | 59.4% | 56.2% | 62.4% | 50.9% | ||||
Transparency Index | 38 | 42 | 44 | 40 | 49 | ||||
Original Repayment Schedule | |||||||||
MFT Pricing Calculation |
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