Number borrowers | 275 |
Loan Amount (range) | GHS 200 - 1,500 |
Loan Term (range) | 3 - 8 |
Other Services (text summary) | Credit Educ, Tech Asst Visits, Business Training, Other Training |
Annual Interest & Method | 60.00%-84.00% annual, Flat |
Fees | 2 fees |
Insurance | 1.00% upfront |
Tax | None |
Comp Dep | 30.00% upfront |
Range of pricing | |
Interest Price Component | 84.9% - 110.4% |
Fee Component | 11.3% - 31.6% |
Insurance Component | 0 - 6.6% |
Tax Component Range | 0 |
Full APR (int fee ins tax dep) | 166.9% - 235.4% |
Transparency Index (min/max) | 25 - 36 |
Transparency Index (average) | 28 |
1,985 |
KES 50,000 - 3,000,000 |
3 - 24 |
Credit Educ, Credit Ins, Tech Asst Visits, Business Training, Other Training |
22.0% annual, Flat |
3.00% upfront 100.00-1,000.00 upfront |
2.00% upfront |
None |
25.3% - 51.1% |
0 - 10.2% |
0 - 9.6% |
0 |
44.3% - 64.0% |
25 - 163 |
44 |
Outstanding portfolio (GHS) | GHS 55,000 |
Portfolio (USD) | USD 27,918.78 |
Active Clients with Loans | 275 |
Approximate % Female Clients | 60% - 80% |
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 | x |
Other household finance | x |
Other | |
Other (2) |
Credit education | x |
Group meetings | |
Credit insurance | |
Workplace visits | x |
Business training | x |
Other training | x |
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 | Must contribute daily savings prior to receiving loan. Must have guarantor. |
Other (2) | Must have been working for the past 2-3 years |
# Regions for this institution | 2 |
# Regions for this product | 2 |
Regions Active | Greater Accra Region, Northern Region |
Outstanding portfolio (KES) | KES 267,734,546 |
Portfolio (USD) | USD 3,233,509.01 |
Active Clients with Loans | 1,985 |
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 | x |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | x |
Other | |
Other (2) |
Credit education | x |
Group meetings | |
Credit insurance | x |
Workplace visits | x |
Business training | x |
Other training | x |
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 | |
Other | |
Other (2) |
# Regions for this institution | 5 |
# Regions for this product | 5 |
Regions Active | Central, Coast, Eastern, Nairobi, Rift Valley |
Currency | GHS |
Minimum loan size | GHS 200 |
Maximum loan size | 1,500 |
Loans less than GHS 1,000 | 90% |
GHS 1,000-5,000 | 10% |
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 | 8.0 months |
Approx average | 6.0 months |
Loans 3 months or less | 20% |
Between 4 and 6 months | 80% |
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 | 0 |
Average grace period | 0 |
Daily | x |
Weekly | x |
Every 2 weeks | |
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 50,000 |
Maximum loan size | 3,000,000 |
Loans less than KES 50,000 | 15% |
KES 50,000-150,000 | 15% |
KES 150,000-250,000 | 15% |
KES 250,000-350,000 | 15% |
KES 350,000-450,000 | 10% |
Greater than KES 450,000 | 10% |
Shortest loan term | 3.0 months |
Longest loan term | 24.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 5% |
Between 7 and 9 months | 20% |
Between 10 and 12 months | 50% |
Between 13 and 18 months | 15% |
Longer than 18 months | 10% |
Grace period usage | 100% |
Average grace period | 0.5 months |
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 | 5.00% |
Highest quoted nominal interest | 7.00% |
Reason(s) why interest rate varies | Branch, Time as Client, Loan Size, Client Risk, Collateral, Loan Purpose |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Processing Fee | Commitment Fee | |
% of loan amount - min | 3.00% | 2.00% | |
% of loan amount - max | 3.00% | 2.00% | |
OR, Fixed amount - min | 0 | 0 | |
Fixed amount - max | 0 | 0 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | No | No |
Ins 1 | |
---|---|
Description | Insurance 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? | No |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | Yes |
% loan amount deposited | 30.00% |
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 | 2.00% |
Maximum interest rate paid | 8.00% |
Interest payment frequency | Annually |
Are taxes charged on this product? | No |
Lowest quoted nominal interest | 1.83% |
Highest quoted nominal interest | 1.83% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Administration Fee | Disbursement Fee | |
% of loan amount - min | 3.00% | 0 | |
% of loan amount - max | 3.00% | 0 | |
OR, Fixed amount - min | 0 | 100 | |
Fixed amount - max | 0 | 1,000 | |
Reason for variation | N/A | Varies based on the method of disbursement. | |
Appears on Repayment Sched? | No | No |
Ins 1 | |
---|---|
Description | Insurance 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? | No |
Required for | Some |
Criteria | Upfront compulsory deposit required only on loans below 300,000 KES which also do not have sufficient collateral. No continuing deposit requirement. |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 0 - 10.00% |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | End Term |
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | GHS 200 | GHS 1,000 | GHS 1,500 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2012-10-24 | 2013-01-07 | 2012-11-23 | ||
Loan Term (Months) | 3.1 months | 7.0 months | 6.0 months | ||
Grace Period (Months) | 0.0 months | 1.0 month | 0.0 months | ||
Total Cost of Credit | GHS 48.10 | GHS 420.20 | GHS 630 | ||
True Price by Comp | |||||
Interest price component | 100.3% | 84.9% | 110.4% | ||
Fee Component | 31.6% | 14.6% | 19.3% | ||
Insurance Component | 6.6% | 3.1% | 4.0% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 96.9% | 64.3% | 96.6% | ||
Full APR (int fee ins tax dep) | 235.4% | 166.9% | 230.3% | ||
Transparency Index | 25 | 36 | 26 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | KES 50,000 | KES 100,000 | KES 200,000 | KES 350,000 | KES 400,000 | KES 500,000 | |||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
Disbursement Date | 2013-07-08 | 2013-08-27 | 2013-08-30 | 2013-08-30 | 2013-06-28 | 2013-07-22 | |||||
Loan Term (Months) | 7.0 months | 13.0 months | 13.0 months | 13.0 months | 19.0 months | 13.0 months | |||||
Grace Period (Months) | 0.4 months | 0.5 months | 0.4 months | 0.4 months | 0.5 months | 0.5 months | |||||
Total Cost of Credit | KES 9,028.03 | KES 28,563.74 | KES 56,390.19 | KES 98,532.80 | KES 158,201.27 | KES 143,038.90 | |||||
True Price by Comp | |||||||||||
Interest price component | 37.3% | 37.4% | 37.4% | 37.4% | 37.4% | 37.4% | |||||
Fee Component | 10.2% | 5.7% | 5.8% | 5.8% | 4.1% | 5.6% | |||||
Insurance Component | 6.6% | 3.9% | 4.0% | 3.9% | 2.8% | 3.8% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 9.9% | 8.8% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Full APR (int fee ins tax dep) | 64.0% | 55.8% | 47.2% | 47.1% | 44.3% | 46.8% | |||||
Transparency Index | 34 | 39 | 47 | 47 | 50 | 47 | |||||
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 |
Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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