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Institution
Data approved: 2013-02-19
Data version: 2
Age of data: 139 months
Key Statistics
| Outstanding portfolio (GHS) | GHS 1,796,008 |
| Portfolio (USD) | USD 911,679.19 |
| Active Clients with Loans | 5,274 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 80% - 100% |
Methodology
| Individual | |
| Solidarity group | |
| Village banking | x |
| Self help group | x |
| Other | EDM Group Methodology |
Description
Loan product given directly to individuals in a group of 15-30 members. Group members are required to meet weekly for training, loan repayment, and savings depositing.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | |
| Business training | x |
| Other training | x |
| Other | Life skill training, counciling, and referral services. |
| Other (2) | |
| No other services | |
Eligibility
| 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) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 1 |
| # Regions for this product | 1 |
| Regions Active | Greater Accra Region |
Loan Conditions
Loan Amount
| Currency | GHS |
| Minimum loan size | GHS 100 |
| Maximum loan size | 5,000 |
Distribution at Disbursement (Est.)
| Loans less than GHS 1,000 | 30% |
| GHS 1,000-5,000 | 70% |
| GHS 5,000-7,500 | 0 |
| GHS 7,500-10,000 | 0 |
| GHS 10,000-13,000 | 0 |
| Greater than GHS 13,000 | 0 |
Loan Term and Grace Period
| Shortest loan term | 3.0 months |
| Longest loan term | 9.0 months |
| Approx average | 8.0 months |
Distribution at Disbursement (Est.)
| 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
| Grace period usage | 100% |
| Average grace period | 0.5 months |
Repayment Frequency
| Daily | |
| Weekly | x |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 3.00% |
| Highest quoted nominal interest | 3.00% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | Yes |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Loan Processing Fee |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
Deposits DURING period payments
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
Interest Paid on Deposit
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
This is a group methodology with individual responsibility. The group is not held responsible when a member defaults . Training are delivered to them as a group.
Full Pricing Data
Onipa Nua (Each other's keepers) samples
| Sample 1 | | Sample 2 | | Sample 3 |
|---|
| Loan Amount | GHS 300 | | GHS 700 | | GHS 1,400 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2013-02-01 | | 2013-02-01 | | 2013-02-01 |
| Loan Term (Months) | 4.9 months | | 4.9 months | | 4.8 months |
| Grace Period (Months) | 0.2 months | | 0.2 months | | 0.2 months |
| Total Cost of Credit | GHS 47.54 | | GHS 110.92 | | GHS 221.85 |
| True Price by Comp | | | | | |
| Interest price component | 60.6% | | 60.6% | | 61.4% |
| Fee Component | 9.7% | | 9.7% | | 9.8% |
| 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) | 70.3% | | 70.3% | | 71.2% |
| Transparency Index | 51 | | 51 | | 51 |
| | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF |
Onipa Nua (Each other's keepers) Price Graphs
