| Number borrowers | 265 |
| Loan Amount (range) | GHS 15,000 - 30,000 |
| Loan Term (range) | 3 - 24 |
| Other Services (text summary) | Credit Ins |
| Annual Interest & Method | 42.0%-45.0% annual, Flat |
| Fees | 1.50%-2.00% upfront |
| Insurance | 0.55%-1.00% upfront |
| Tax | None |
| Comp Dep | |
| Range of pricing | |
| Interest Price Component | 57.7% - 86.0% |
| Fee Component | 2.2% - 9.1% |
| Insurance Component | 0.6% - 4.5% |
| Tax Component Range | 0 - 0.6% |
| Full APR (int fee ins tax dep) | 75.2% - 78.2% |
| Transparency Index (min/max) | 27 - 66 |
| Transparency Index (average) | 54 |
| 1,612 |
| INR 3,000 - 12,000 |
| 12 - 24 |
| Credit Educ, Group Mtgs, Tech Asst Visits |
| 22.0% annual, Decl Bal |
| 1.00% upfront |
| None |
| 12.36% fees |
| N/A |
| 21.5% - 27.9% |
| 1.2% - 2.3% |
| 0 |
| 0.1% - 0.3% |
| 24.1% - 25.8% |
| 85 - 94 |
| 89 |
| Outstanding portfolio (GHS) | GHS 2,771,347.57 |
| Portfolio (USD) | USD 1,406,775.42 |
| Active Clients with Loans | 265 |
| Approximate % Female Clients | 40% - 60% |
| 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 | |
| Other (2) |
| Credit education | |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | |
| 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 | x |
| Must be a salaried worker | |
| Must be specific age group | x |
| Other | |
| Other (2) |
| # Regions for this institution | 3 |
| # Regions for this product | 3 |
| Regions Active | Greater Accra Region, Ashanti Region, Brong Ahafo Region |
| Outstanding portfolio (INR) | INR 5,797,160.55 |
| Portfolio (USD) | USD 109,380.39 |
| Active Clients with Loans | 1,612 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | For installing water connection |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | x |
| Business training | |
| 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 | |
| Household income <60,000 INR | x |
| Household income <120,000 INR | |
| Must live in rural area | |
| Must lives in urban area | |
| Other | |
| Other (2) |
| # Regions for this institution | 5 |
| # Regions for this product | 3 |
| Regions Active | Chhattisgarh, Madhya Pradesh, Maharashtra |
| Currency | GHS |
| Minimum loan size | GHS 15,000 |
| Maximum loan size | 30,000 |
| Shortest loan term | 3.0 months |
| Longest loan term | 24.0 months |
| Approx average | DK |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 5% |
| Between 7 and 9 months | 10% |
| Between 10 and 12 months | 70% |
| Between 13 and 18 months | 15% |
| Longer than 18 months | 0 |
| 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 |
| Currency | INR |
| Minimum loan size | INR 3,000 |
| Maximum loan size | 12,000 |
| Loans less than INR 5,000 | 90% |
| INR 5,000-15,000 | 10% |
| INR 15,000-25,000 | 0 |
| INR 25,000-35,000 | 0 |
| INR 35,000-45,000 | 0 |
| Greater than INR 45,000 | 0 |
| Shortest loan term | 12.0 months |
| Longest loan term | 24.0 months |
| Approx average | 12.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 100% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 0.3 months |
| 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 | 3.50% |
| Highest quoted nominal interest | 3.75% |
| Reason(s) why interest rate varies | Time as Client, Loan Size, Client Risk |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 1.50% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Fee increased from 1.5% to 2.0% in March 2013. |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Insurance Fee |
| % of loan amount - min | 0.55% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Fee increased from 0.55% to 1.0% in July 2013. |
| Appears on Repayment Sched? | Yes |
| Required for | Some |
| Criteria | Required only if physical collateral provided is not sufficient. |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 0 - 20.00% |
| 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 | 6.00% |
| Maximum interest rate paid | 6.00% |
| Interest payment frequency | Annually |
| 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 | Loan Purpose |
| 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 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | 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? | Yes |
| Percentage of fees | 12.4% |
| All or some fees taxed | All |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | GHS 15,000 | GHS 15,000 | GHS 15,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-07-11 | 2012-11-09 | 2013-06-10 | ||
| Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | ||
| Grace Period (Months) | 0.1 months | 0.2 months | 0.0 months | ||
| Total Cost of Credit | GHS 7,207 | GHS 7,064.50 | GHS 7,139.50 | ||
| True Price by Comp | |||||
| Interest price component | 71.8% | 70.9% | 72.4% | ||
| Fee Component | 4.2% | 3.1% | 4.2% | ||
| Insurance Component | 2.1% | 1.1% | 1.1% | ||
| Tax Component | 0.1% | 0.1% | 0.1% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 78.2% | 75.2% | 77.8% | ||
| Transparency Index | 54 | 56 | 54 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 5,000 | INR 5,000 | INR 6,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-03-19 | 2013-03-19 | 2013-02-26 | ||
| Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | ||
| Grace Period (Months) | -0.1 months | -0.1 months | 0.6 months | ||
| Total Cost of Credit | INR 556.18 | INR 556.18 | INR 856.42 | ||
| True Price by Comp | |||||
| Interest price component | 21.5% | 21.5% | 23.6% | ||
| Fee Component | 2.3% | 2.3% | 1.9% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 0.3% | 0.3% | 0.3% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 24.1% | 24.1% | 25.8% | ||
| MFIN MFI Earning (Annualised) | 23.8% | 23.8% | 25.5% | ||
| MFIN Cost to Borrower (Annualised) | 24.1% | 24.1% | 25.8% | ||
| Transparency Index | 91 | 91 | 85 | ||
| MFIN Transparency Index | 100 | 100 | 93 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
|---|---|---|---|---|---|---|---|
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