Institution Type | Non-Governmental Organization |
Is this institution regulated? | No |
Website address | http://www.microfinplusghana.org/ |
Year established | 2007 |
Head of Institution | Ishmael.k.otchere |
Regions active | Central Region |
# Branches | 2 |
Total Portfolio (nat'l) | GHS 495,574.03 |
Total Portfolio (USD) | USD 259,462.84 |
Active clients with loans | 1,110 |
Approximate % female clients | 60% - 80% |
Approximate % urban clients | 0% - 20% |
Network affiliations | GHAMFIN |
Funders | Plan Ghana, Barclays |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
M-Hope | GHS 50 - 2,000 | 3 - 6 | 80% - 100% | 0% - 20% | Business, Consumer | Women, Men, Maximum amount of men permitted in group - 20%. | Credit Educ, Other Training, Malaria prevention training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
M-Hope | 45.00% annual, Flat | 2 Fees | 1 Ins | None | 15.00% upfront | 86.4% - 91.3% | 124.3% - 133.3% | 35 |
Outstanding portfolio (INR) | INR 6,030,318 |
Portfolio (USD) | USD 113,779.58 |
Active Clients with Loans | 151 |
Approximate % Female Clients | 0% - 20% |
Approximate % Urban Clients | 100% |
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 | |
Workplace visits | |
Business training | x |
Other training | |
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 | |
Household income <60,000 INR | |
Household income <120,000 INR | |
Must live in rural area | |
Must lives in urban area | |
Other | Must have atleast 3 years of experience in existing business. |
Other (2) |
# Regions for this institution | 2 |
# Regions for this product | 1 |
Regions Active | Uttar Pradesh |
Currency | INR |
Minimum loan size | INR 25,000 |
Maximum loan size | 300,000 |
Loans less than INR 5,000 | 0 |
INR 5,000-15,000 | 0 |
INR 15,000-25,000 | 0 |
INR 25,000-35,000 | 10% |
INR 35,000-45,000 | 20% |
Greater than INR 45,000 | 20% |
Shortest loan term | 6.0 months |
Longest loan term | 36.0 months |
Approx average | 6.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 30% |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 70% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
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 | 29.00% |
Highest quoted nominal interest | 29.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Processing Fee |
% of loan amount - min | 0.88% |
% of loan amount - max | 0.88% |
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? | Yes |
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? | Yes |
Percentage of fees | 12.4% |
All or some fees taxed | Some |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | INR 30,000 | INR 50,000 | INR 60,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2013-01-19 | 2013-01-19 | 2013-01-19 | ||
Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | ||
Grace Period (Months) | 0.2 months | 0.2 months | 0.2 months | ||
Total Cost of Credit | INR 5,662.08 | INR 9,436.80 | INR 11,323.16 | ||
True Price by Comp | |||||
Interest price component | 28.8% | 28.8% | 28.8% | ||
Fee Component | 1.6% | 1.6% | 1.6% | ||
Insurance Component | 2.0% | 2.0% | 2.0% | ||
Tax Component | 0.2% | 0.2% | 0.2% | ||
Deposit Component | 0.0% | 0.0% | 0.0% | ||
Full APR (int fee ins tax dep) | 32.6% | 32.6% | 32.6% | ||
MFIN MFI Earning (Annualised) | 30.4% | 30.4% | 30.4% | ||
MFIN Cost to Borrower (Annualised) | 32.6% | 32.6% | 32.6% | ||
Transparency Index | 89 | 89 | 89 | ||
MFIN Transparency Index | 100 | 100 | 100 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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