Lower Pra Rural Bank Limited - Micro Loan - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 158 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Lower Pra Rural Bank Limited ShamaWestern RegionPO Box SH 18

Data approved: 2011-12-07

Data version: 1

Age of data: 158 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (GHS)	GHS 4,124,077
Portfolio (USD)	USD 2,093,440.10
Active Clients with Loans	13,529
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	20% - 40%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

This loan is like the susu loan. Savings here is compulsory, 1/4 th of amount in your account; Salary gurantors are taken as well. Given to petty traders, carpenters; depending on amount taken, sometimes landed property taken in case of default

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	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
Must be a salaried worker
Must be specific age group
Other
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	N/A
# Regions for this product	N/A
Regions Active

Loan Conditions

Loan Amount

Currency	GHS
Minimum loan size	GHS 1,000
Maximum loan size	30,000

Loan Term and Grace Period

Shortest loan term	1.0 month
Longest loan term	12.0 months
Approx average	10.0 months

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	x
Every 6 months
Every 12 months
Single end payment
Irregular payments	x

Pricing Information

Interest

Lowest quoted nominal interest	30.00%
Highest quoted nominal interest	30.00%
Interest rate period	Yearly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	Yes
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1	Fee 2
Description	Loan Processing Fee	Risk Fund(3%) & Commitment fee (5%)
% of loan amount - min	0	8.00%
% of loan amount - max	0	8.00%
OR, Fixed amount - min	3	0
Fixed amount - max	3	0
Reason for variation		N/A
Appears on Repayment Sched?	Yes	Yes

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

This product has no upfront insurance fees

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	All
Criteria	N/A
Is deposit indicated on the repayment schedule?
Do borrowers control deposit in their group?

Deposit BEFORE or AT Disbursement

% loan amount deposited	25.00% - N/A
or, Fixed-amount deposited	0

Deposits DURING period payments

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

Interest Paid on Deposit

Minimum interest rate paid	0
Maximum interest rate paid	0
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Micro Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5
Loan Amount	GHS 1,000	GHS 3,500	GHS 10,000	GHS 15,000	GHS 30,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2011-06-17	2011-07-22	2011-05-30	2010-10-24	2011-04-07
Loan Term (Months)	6.0 months	12.0 months	12.0 months	12.0 months	24.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	87.9%	66.3%	77.2%	77.5%	67.4%
Insurance Component	0.0%	0.0%	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	58.5%	42.6%	49.2%	49.7%	36.8%
Full APR (int fee ins tax dep)	146.4%	108.8%	126.4%	127.2%	104.2%
Transparency Index	20	28	24	24	29

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

Micro Loan Price Graphs

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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

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Total Borrrowers of Samples


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