Institution Type | RurBank |
Is this institution regulated? | Yes |
Website address | http://www.lowerpraruralbank.com/ |
Year established | 1983 |
Head of Institution | Isaac Kwamina Afful |
Regions active | |
# Branches | 14 |
Total Portfolio (nat'l) | GHS 12,443,472 |
Total Portfolio (USD) | USD 6,316,483.25 |
Active clients with loans | 34,056 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 80% - 100% |
Network affiliations | GHAMFIN, ARB APEX |
Funders |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Micro Loan | GHS 1,000 - 30,000 | 1 - 12 | 20% - 40% | 20% - 40% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins | |||||||
Salary Loan | GHS 500 - 11,000 | 1 - 60 | 40% - 60% | 80% - 100% | Business | Women, Men | Credit Ins | |||||||
Susu Loan | GHS 200 - 3,500 | 1 - 12 | 40% - 60% | 80% - 100% | Business | Women, Men, Have business | Credit Ins, Tech Asst Visits, Market trends |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Micro Loan | 30.00% annual, Flat | 2 Fees | 0 Ins | None | 25.00%- upfront | 66.3% - 87.9% | 104.2% - 146.4% | 24 | ||||||||
Salary Loan | 28.00% annual, Flat | 2 Fees | 0 Ins | None | N/A | 47.4% - 63% | 47.4% - 63% | 48 | ||||||||
Susu Loan | 30.00% annual, Flat | 2 Fees | 0 Ins | None | 25.00%- upfront | 69.6% - 91.6% | 115.7% - 154.1% | 22 |
Outstanding portfolio (UGX) | UGX 3,160,115,608 |
Portfolio (USD) | USD 1,264,046 |
Active Clients with Loans | 2,929 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 20% - 40% |
Individual | x |
Solidarity group | |
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 | |
Other | Business must least 3 months old |
Other (2) | Must have security. |
# Regions for this institution | 2 |
# Regions for this product | 2 |
Regions Active | Central, Western |
Currency | UGX |
Minimum loan size | UGX 100,000 |
Maximum loan size | 5,000,000 |
Loans less than UGX 1,000,000 | 10% |
UGX 1,000,000-5,000,000 | 90% |
UGX 5,000,000-7,500,000 | 0 |
UGX 7,500,000-10,000,000 | 0 |
UGX 10,000,000-13,000,000 | 0 |
Greater than UGX 13,000,000 | 0 |
Shortest loan term | 3.0 months |
Longest loan term | 24.0 months |
Approx average | 8.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 5% |
Between 7 and 9 months | 30% |
Between 10 and 12 months | 40% |
Between 13 and 18 months | 15% |
Longer than 18 months | 10% |
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 | 3.00% |
Highest quoted nominal interest | 3.00% |
Reason(s) why interest rate varies | Time as Client, Interest reduces to 2.5% on 4th cycle for clients with excellent repayment history |
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 | Loan Application Fee & Stamp Duty | Loan Comission | |
% of loan amount - min | 0 | 0.85% | |
% of loan amount - max | 0 | 0.85% | |
OR, Fixed amount - min | 10,000 | 0 | |
Fixed amount - max | 15,000 | 0 | |
Reason for variation | Ap Fee = 10,000. Stamp Duty = 5,000 for loans > 2M | N/A | |
Appears on Repayment Sched? | No | No |
Ins 1 | |
---|---|
Description | Loan Insurance Premium |
% of loan amount - min | 0.85% |
% of loan amount - max | 0.85% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Required for | Never |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | N/A |
Do borrowers control deposit in their group? | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
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 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | UGX 400,000 | UGX 700,000 | UGX 1,500,000 | UGX 3,000,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2012-10-20 | 2012-10-19 | 2012-10-19 | 2012-11-12 | |||
Loan Term (Months) | 6.0 months | 8.0 months | 10.0 months | 8.0 months | |||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||
Total Cost of Credit | UGX 88,800 | UGX 189,900 | UGX 485,500 | UGX 786,000 | |||
True Price by Comp | |||||||
Interest price component | 57.7% | 59.0% | 59.5% | 59.4% | |||
Fee Component | 12.2% | 6.6% | 3.6% | 3.9% | |||
Insurance Component | 3.2% | 2.5% | 2.1% | 2.5% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Full APR (int fee ins tax dep) | 73.1% | 68.1% | 65.2% | 65.8% | |||
Transparency Index | 49 | 53 | 55 | 55 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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% Products using declining balance | |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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