| Institution Type | RurBank |
| Is this institution regulated? | Yes |
| Website address | http://[email protected] |
| Year established | 1982 |
| Head of Institution | C.K Ablerdu |
| Regions active | Ashanti Region |
| # Branches | 9 |
| Total Portfolio (nat'l) | GHS 12,511,356 |
| Total Portfolio (USD) | USD 6,350,942.13 |
| Active clients with loans | 4,013 |
| Approximate % female clients | 60% - 80% |
| Approximate % urban clients | 40% - 60% |
| Network affiliations | ARB Apex, GHAMFIN |
| Funders | SPEED Ghana, MiDA, MASLOC |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Commercial Loan | GHS 500 - 90,000 | 6 - 18 | 20% - 40% | 60% - 80% | Business | Women, Men, Have business | Group Mtgs, Credit Ins, Other Training | |||||||
| Salary Loan | GHS 200 - 6,000 | 6 - 18 | 20% - 40% | 60% - 80% | Any Purpose | Women, Men, Salaried worker | Credit Educ, Group Mtgs, Credit Ins, Other Training | |||||||
| Susu Loan | GHS 50 - 20,000 | 3 - 12 | 60% - 80% | 40% - 60% | Business, Housing, Consumer, Education, Other | Women, Men, Have business, Must have conttributed savings depsoit for at least 3 months. | Credit Educ, Group Mtgs, Credit Ins, Other Training |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Commercial Loan | 28.00% annual, Flat | 1 Fee | 0 Ins | None | 30.00% upfront | 53% - 56.8% | 97.1% - 106.4% | 27 | ||||||||
| Salary Loan | 30.00% annual, Flat | 1 Fee | 0 Ins | None | N/A | 54.2% - 77.7% | 54.2% - 77.7% | 48 | ||||||||
| Susu Loan | 28.00% annual, Flat | 1 Fee | 0 Ins | None | 50.00% upfront | 51.9% - 56.3% | 179.5% - 210.9% | 14 |
| Outstanding portfolio (MWK) | MWK 1,585,625 |
| Portfolio (USD) | USD 4,065.71 |
| Active Clients with Loans | 334 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 80% - 100% |
| Individual | |
| Solidarity group | |
| Village banking | x |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | |
| Mortgage/housing | x |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | x |
| Men | x |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Must be a member of the Malawi Homeless People's Federation |
| Other (2) |
| # Regions for this institution | 17 |
| # Regions for this product | 3 |
| Regions Active | Lilongwe, Blantyre, Chikwawa |
| Currency | MWK |
| Minimum loan size | MWK 20,000 |
| Maximum loan size | 20,000 |
| Loans less than MWK 50,000 | 100% |
| MWK 50,000-150,000 | 0 |
| MWK 150,000-250,000 | 0 |
| MWK 250,000-350,000 | 0 |
| MWK 350,000-450,000 | 0 |
| Greater than MWK 450,000 | 0 |
| Shortest loan term | 24.0 months |
| Longest loan term | 24.0 months |
| Approx average | 24.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 100% |
| 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 |
| Lowest quoted nominal interest | 1.00% |
| Highest quoted nominal interest | 1.00% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | Access During |
| 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 | MWK 20,000 | MWK 20,000 | MWK 20,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2012-03-01 | 2012-03-01 | 2012-03-01 | ||
| Loan Term (Months) | 24.0 months | 24.0 months | 24.0 months | ||
| Grace Period (Months) | -1.0 months | -1.0 months | -1.0 months | ||
| Total Cost of Credit | MWK 2,134.40 | MWK 2,134.40 | MWK 2,134.40 | ||
| True Price by Comp | |||||
| Interest price component | 10.9% | 10.9% | 10.9% | ||
| Fee Component | 0.0% | 0.0% | 0.0% | ||
| 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) | 10.9% | 10.9% | 10.9% | ||
| Transparency Index | 100 | 100 | 100 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Key Statistics | |
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| 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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