EB ACCION Savings and Loans Ltd - SME - MFTransparency.org Truth In Lending Tables

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Institution

EB ACCION Savings and Loans Ltd No. 4 Nortei Ababio Street Roman RidgePMB CT 127, CantonmentsAccra, Greater Accra

Data approved: 2013-07-31

Data version: 1

Age of data: 139 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (GHS)	GHS 7,343,255.72
Portfolio (USD)	USD 3,727,540.98
Active Clients with Loans	398
Approximate % Female Clients	0% - 20%
Approximate % Urban Clients	80% - 100%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Access to continuous, reliable financial services for clients. Minimum 12 months experience in business and 12 months operating a business in the same location. 10% interest payback when case installments are on time.

Loan Purpose

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

Included Services

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

Eligibility

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)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	3
# Regions for this product	3
Regions Active	Greater Accra Region, Ashanti Region, Brong Ahafo Region

Loan Conditions

Loan Amount

Currency	GHS
Minimum loan size	GHS 30,000
Maximum loan size	50,000

Loan Term and Grace Period

Shortest loan term	3.0 months
Longest loan term	24.0 months
Approx average	DK

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	0
Between 7 and 9 months	0
Between 10 and 12 months	30%
Between 13 and 18 months	20%
Longer than 18 months	50%

Grace Period

Grace period usage	0
Average grace period	0

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	3.20%
Highest quoted nominal interest	3.50%
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

Upfront Fees

	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

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	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

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

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

Deposit BEFORE or AT Disbursement

% loan amount deposited	0 - 20.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	0
Conditions on access to deposit	End Term

Interest Paid on Deposit

Minimum interest rate paid	6.00%
Maximum interest rate paid	6.00%
Interest payment frequency	Annually

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

SME samples

	Sample 1	Sample 2	Sample 3
Loan Amount	GHS 30,000	GHS 30,000	GHS 30,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2013-06-25	2013-05-31	2013-07-24
Loan Term (Months)	25.0 months	24.0 months	18.0 months
Grace Period (Months)	0.5 months	0.5 months	0.1 months
Total Cost of Credit	GHS 23,812	GHS 23,812	GHS 18,297.52
True Price by Comp
Interest price component	57.8%	57.7%	61.5%
Fee Component	2.3%	2.2%	3.0%
Insurance Component	0.6%	0.7%	1.5%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	0.0%	6.3%	0.0%
Full APR (int fee ins tax dep)	60.7%	66.9%	66.0%
Transparency Index	63	57	58

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

SME Price Graphs

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
AgroCapital	21,900	16,894,000	11	172
ANED	5,400	6,579,000	3	130
Banco FIE	231,100	569,322,000	6	130
BancoSol	215,300	861,418,000	30	130
CIDRE	8,500	126,578,000	8	130
Coop Fatima	6,300	44,280,000	7	172
CRECER	166,900	134,626,000	13	130
Diaconia	67,000	85,734,000	2	130
Ecofuturo	59,200	226,839,000	5	130
EMPRENDER	8,700	2,380,000	3	172
Fassil FFP	57,600	325,081,000	5	130
FONCRESOL	3,900	9,573,000	3	130
FONDECO	14,200	24,274,000	3	130
Fortaleza	20,100	164,530,000	13	130
FUBODE	29,400	24,444,000	7	130
FUNBODEM	8,600	15,798,000	9	130
IDEPRO	10,400	40,479,000	2	130
IMPRO	2,400	2,885,000	4	130
ProCredit	84,300	257,487,000	8	172
PRODEM	44,900	62,529,000	4	130
ProMujer BOL	115,200	50,753,000	3	130
Sartawi	14,600	26,842,000	8	130

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

	X Axis
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Total Borrrowers of Samples


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