Number borrowers | 407 |
Loan Amount (range) | GHS 600 - 3,000 |
Loan Term (range) | 3 - 12 |
Other Services (text summary) | Credit Ins |
Annual Interest & Method | 48.0% annual, Flat |
Fees | 1.50%-2.00% upfront |
Insurance | 0.55%-1.00% upfront |
Tax | None |
Comp Dep | 2.50-10.00 ongoing |
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) | 111.6% - 118.8% |
Transparency Index (min/max) | 27 - 66 |
Transparency Index (average) | 41 |
57 |
KES 12,745 - 12,745 |
3 - 12 |
Credit Educ, Group Mtgs, Business Training, Other Training, Leadership Training |
18.5% annual, Flat |
400.00-0.00 upfront |
1.50% upfront |
None |
10.0%-15.0% upfront 100.00 ongoing |
33.6% - 40.3% |
0 - 10.6% |
0 - 4.1% |
0 |
68.6% |
24 - 56 |
31 |
Outstanding portfolio (GHS) | GHS 148,203.62 |
Portfolio (USD) | USD 75,230.26 |
Active Clients with Loans | 407 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 0% - 20% |
Individual | |
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 | |
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 | |
Must be a salaried worker | |
Must be specific age group | x |
Other | |
Other (2) |
# Regions for this institution | 3 |
# Regions for this product | 2 |
Regions Active | Greater Accra Region, Eastern Region |
Outstanding portfolio (KES) | KES 276,315.17 |
Portfolio (USD) | USD 3,337.14 |
Active Clients with Loans | 57 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 40% - 60% |
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | x |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | |
Workplace visits | |
Business training | x |
Other training | x |
Other | Leadership Training |
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 | |
Other (2) |
# Regions for this institution | 1 |
# Regions for this product | 1 |
Regions Active | Coast |
Currency | GHS |
Minimum loan size | GHS 600 |
Maximum loan size | 3,000 |
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 | 3.0 months |
Longest loan term | 12.0 months |
Approx average | DK |
Loans 3 months or less | 0 |
Between 4 and 6 months | 100% |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 70% |
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 |
Currency | KES |
Minimum loan size | KES 12,745 |
Maximum loan size | 12,745 |
Loans less than KES 50,000 | 100% |
KES 50,000-150,000 | 0 |
KES 150,000-250,000 | 0 |
KES 250,000-350,000 | 0 |
KES 350,000-450,000 | 0 |
Greater than KES 450,000 | 0 |
Shortest loan term | 3.0 months |
Longest loan term | 12.0 months |
Approx average | 6.0 months |
Loans 3 months or less | 5% |
Between 4 and 6 months | 15% |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 80% |
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 | |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 4.00% |
Highest quoted nominal interest | 4.00% |
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 if physical collateral provided is not sufficient. Ongoing is 2.5 GHS pw for weekly loans, 10 GHS for monthly loans |
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 | GHS 2.50 - GHS 10 |
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 | 18.50% |
Highest quoted nominal interest | 18.50% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Application Fee |
% of loan amount - min | 0 |
% of loan amount - max | 1.00% |
OR, Fixed amount - min | 400 |
Fixed amount - max | 0 |
Reason for variation | KES 400 Minimum |
Appears on Repayment Sched? | No |
Ins 1 | |
---|---|
Description | Emergency Fund |
% of loan amount - min | 1.50% |
% of loan amount - max | 1.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Required for | All |
Criteria | Rural loans <30,000 KES =15%. Loans >30,000 KES = 10%. Urban loans <100,000 KES = 15%. Loans >100,000 KES = 10% |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | Yes |
% loan amount deposited | 10.00% - 15.00% |
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 | 2.00% |
Maximum interest rate paid | 4.00% |
Interest payment frequency | Annually |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | GHS 500 | GHS 800 | GHS 1,800 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2013-06-12 | 2013-02-28 | 2013-02-28 | ||
Loan Term (Months) | 6.0 months | 6.0 months | 6.0 months | ||
Grace Period (Months) | 0.5 months | 0.1 months | 0.1 months | ||
Total Cost of Credit | GHS 133.11 | GHS 198.90 | GHS 447.60 | ||
True Price by Comp | |||||
Interest price component | 67.6% | 69.9% | 69.9% | ||
Fee Component | 6.5% | 7.2% | 7.2% | ||
Insurance Component | 1.8% | 2.0% | 2.0% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 35.7% | 39.7% | 36.0% | ||
Full APR (int fee ins tax dep) | 111.6% | 118.8% | 115.1% | ||
Transparency Index | 43 | 40 | 42 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | KES 12,745 | KES 12,745 | KES 12,745 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2013-08-28 | 2013-07-04 | 2013-08-28 | ||
Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | ||
Grace Period (Months) | 0.5 months | 0.5 months | 0.5 months | ||
Total Cost of Credit | KES 2,948.94 | KES 2,948.94 | KES 2,948.94 | ||
True Price by Comp | |||||
Interest price component | 33.6% | 33.6% | 33.6% | ||
Fee Component | 6.4% | 6.4% | 6.4% | ||
Insurance Component | 3.2% | 3.2% | 3.2% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 25.4% | 25.4% | 25.4% | ||
Full APR (int fee ins tax dep) | 68.6% | 68.6% | 68.6% | ||
Transparency Index | 31 | 31 | 31 | ||
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 |
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