Number borrowers | 342 |
Loan Amount (range) | GHS 100 - 30,000 |
Loan Term (range) | 6 - 12 |
Other Services (text summary) | Credit Educ, Group Mtgs, Credit Ins |
Annual Interest & Method | 60.00% annual, Flat |
Fees | 1.50% upfront |
Insurance | 1.00% upfront |
Tax | None |
Comp Dep | 5.00%-50.00% upfront |
Range of pricing | |
Interest Price Component | 97.5% - 105.2% |
Fee Component | 5.8% - 8.5% |
Insurance Component | 3.9% - 5.9% |
Tax Component Range | 0 |
Full APR (int fee ins tax dep) | 194.6% - 373.8% |
Transparency Index (min/max) | 16 - 31 |
Transparency Index (average) | 22 |
219,089 |
KES 10,000 - 45,000,000 |
6 - 60 |
Credit Educ, Group Mtgs, Tech Asst Visits, Business Training, Other Training, Health education, Women empowerment |
20.0%-21.6% annual, Flat |
1.00%-1.50% upfront upfront |
1.25% upfront |
None |
10.0%-20.0% upfront 50.00-0.00 ongoing |
34.5% - 38.0% |
1.4% - 7.7% |
1.2% - 4.6% |
0 |
47.8% - 60.2% |
20 - 43 |
35 |
Outstanding portfolio (GHS) | GHS 568,292 |
Portfolio (USD) | USD 288,473.10 |
Active Clients with Loans | 342 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 60% - 80% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | x |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
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 | |
Other (2) |
# Regions for this institution | 1 |
# Regions for this product | 1 |
Regions Active | Greater Accra Region |
Outstanding portfolio (KES) | KES 12,198,631,776 |
Portfolio (USD) | USD 147,326,470.70 |
Active Clients with Loans | 219,089 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 0% - 20% |
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other | Membership between 15-35 individuals |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | |
Workplace visits | x |
Business training | x |
Other training | x |
Other | Health education |
Other (2) | Women empowerment |
No other services |
Men | |
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) |
# Regions for this institution | 8 |
# Regions for this product | 8 |
Regions Active | Central, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western |
Currency | GHS |
Minimum loan size | GHS 100 |
Maximum loan size | 30,000 |
Loans less than GHS 1,000 | 0 |
GHS 1,000-5,000 | 70% |
GHS 5,000-7,500 | 0 |
GHS 7,500-10,000 | 0 |
GHS 10,000-13,000 | 15% |
Greater than GHS 13,000 | 15% |
Shortest loan term | 6.0 months |
Longest loan term | 12.0 months |
Approx average | 6.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 100% |
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 | 100% |
Average grace period | 1.0 month |
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 10,000 |
Maximum loan size | 45,000,000 |
Loans less than KES 50,000 | 10% |
KES 50,000-150,000 | 40% |
KES 150,000-250,000 | 20% |
KES 250,000-350,000 | 15% |
KES 350,000-450,000 | 5% |
Greater than KES 450,000 | 5% |
Shortest loan term | 6.0 months |
Longest loan term | 60.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 5% |
Between 7 and 9 months | 10% |
Between 10 and 12 months | 20% |
Between 13 and 18 months | 50% |
Longer than 18 months | 15% |
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 | 5.00% |
Highest quoted nominal interest | 5.00% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Processing Fee |
% of loan amount - min | 1.50% |
% of loan amount - max | 1.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | 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 | Some |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | Yes |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 5.00% - 50.00% |
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 | 6.00% |
Maximum interest rate paid | 6.00% |
Interest payment frequency | Annually |
Are taxes charged on this product? | No |
Lowest quoted nominal interest | 1.67% |
Highest quoted nominal interest | 1.80% |
Reason(s) why interest rate varies | Loan Size |
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 Processing Fee | Chattels Fee | |
% of loan amount - min | 1.00% | 0 | |
% of loan amount - max | 1.50% | 0 | |
OR, Fixed amount - min | 0 | 0 | |
Fixed amount - max | 0 | 1,500 | |
Reason for variation | Loans below 100,000 KES = 1.5% with 250 KES minimum. Loans 100,000 KES and above = 1% | Charged only on loans KES 100,000 and above. | |
Appears on Repayment Sched? | No | No |
Ins 1 | |
---|---|
Description | Risk Management Fee |
% of loan amount - min | 1.25% |
% of loan amount - max | 1.25% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Required for | All |
Criteria | Individual loans = 10% upfront & 1% ongoing. Group Loans < KES 100,000 = 10% upfront & > KES 100,000 = 20% upfront. Loans > KES 45,000 = KES 400 ongoing, < KES 45,000 loans = KES 50 ongoing. |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 10.00% - 20.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 - 1.00% |
or, Fixed-amount deposited | KES 50 - 0 |
Conditions on access to deposit | When Leaving |
Minimum interest rate paid | 2.00% |
Maximum interest rate paid | 6.00% |
Interest payment frequency | End Term |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
---|---|---|---|---|---|---|---|---|---|
Loan Amount | GHS 300 | GHS 600 | GHS 1,500 | GHS 3,000 | GHS 8,000 | ||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
Disbursement Date | 2013-02-20 | 2012-12-12 | 2013-01-11 | 2013-02-11 | 2012-11-28 | ||||
Loan Term (Months) | 5.8 months | 6.0 months | 5.8 months | 4.0 months | 5.9 months | ||||
Grace Period (Months) | 0.2 months | 0.5 months | 0.2 months | 0.3 months | 0.3 months | ||||
Total Cost of Credit | GHS 97.50 | GHS 195 | GHS 487.50 | GHS 675 | GHS 2,600 | ||||
True Price by Comp | |||||||||
Interest price component | 105.2% | 97.5% | 105.2% | 100.9% | 104.1% | ||||
Fee Component | 6.4% | 5.8% | 6.4% | 8.5% | 6.2% | ||||
Insurance Component | 4.2% | 3.9% | 4.2% | 5.9% | 4.2% | ||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Deposit Component | 159.4% | 150.5% | 258.0% | 127.9% | 80.1% | ||||
Full APR (int fee ins tax dep) | 275.2% | 257.7% | 373.8% | 243.2% | 194.6% | ||||
Transparency Index | 22 | 23 | 16 | 25 | 31 | ||||
Original Repayment Schedule | |||||||||
MFT Pricing Calculation |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | KES 10,000 | KES 20,000 | KES 45,000 | KES 100,000 | KES 300,000 | KES 500,000 | |||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
Disbursement Date | 2013-03-15 | 2013-06-20 | 2013-06-14 | 2013-03-21 | 2013-04-16 | 2013-04-25 | |||||
Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | 12.0 months | 12.0 months | 12.0 months | |||||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||||
Total Cost of Credit | KES 2,587.08 | KES 4,950.04 | KES 11,191.74 | KES 23,862.81 | KES 68,396.30 | KES 112,993.86 | |||||
True Price by Comp | |||||||||||
Interest price component | 37.8% | 37.8% | 38.0% | 34.6% | 34.6% | 34.6% | |||||
Fee Component | 5.0% | 2.9% | 2.9% | 4.9% | 2.9% | 2.5% | |||||
Insurance Component | 2.5% | 2.5% | 2.5% | 2.5% | 2.5% | 2.5% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 11.5% | 9.7% | 9.0% | 8.7% | 20.2% | 8.2% | |||||
Full APR (int fee ins tax dep) | 56.8% | 52.9% | 52.4% | 50.7% | 60.2% | 47.8% | |||||
Transparency Index | 32 | 34 | 34 | 40 | 33 | 42 | |||||
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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