Institution Type | RurBank |
Is this institution regulated? | Yes |
Website address | http://www.nrbank.org |
Year established | 1987 |
Head of Institution | Nuamah-Danquah Samuel |
Regions active | Ashanti Region |
# Branches | 7 |
Total Portfolio (nat'l) | GHS 4,463,063.91 |
Total Portfolio (USD) | USD 2,265,514.68 |
Active clients with loans | 4,099 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 20% - 40% |
Network affiliations | ARB Apex Bank, GHAMFIN |
Funders | SCIMP/IFAD, SPEED, ARB Apex Bank |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Lending | GHS 200 - 1,500 | 6 - 12 | 40% - 60% | 0% - 20% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Tech Asst Visits | |||||||
Micro Enterprise Loan | GHS 200 - 10,000 | 6 - 12 | 20% - 40% | 80% - 100% | Business | Women, Men, Have business | Credit Educ, Tech Asst Visits, Business Training | |||||||
Susu Loan | GHS 200 - 10,000 | 6 | 40% - 60% | 60% - 80% | Business, Other, Petty Traders | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Other Training, Personal hygiene & health education |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Lending | 28.1% annual, Flat | 1 Fee | 1 Ins | None | 20.0% upfront | 47.8% | 73.3% | 38 | ||||||||
Micro Enterprise Loan | 28.1% annual, Flat | 1 Fee | 1 Ins | None | 20.0% upfront | 52.2% - 54% | 82.1% - 85.9% | 33 | ||||||||
Susu Loan | 28.1% annual, Flat | 1 Fee | 1 Ins | None | 33.3% upfront | 53.1% - 54% | 121.1% - 123.6% | 23 |
Outstanding portfolio (KES) | KES 341,540,495 |
Portfolio (USD) | USD 4,124,885.21 |
Active Clients with Loans | 14,176 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 60% - 80% |
Individual | |
Solidarity group | x |
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 | x |
Group meetings | x |
Credit insurance | |
Workplace visits | |
Business training | x |
Other training | x |
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 | 5 |
# Regions for this product | 5 |
Regions Active | Central, Eastern, Nairobi, Nyanza, Rift Valley |
Currency | KES |
Minimum loan size | KES 5,000 |
Maximum loan size | 140,000 |
Loans less than KES 50,000 | 30% |
KES 50,000-150,000 | 70% |
KES 150,000-250,000 | 0 |
KES 250,000-350,000 | 0 |
KES 350,000-450,000 | 0 |
Greater than KES 450,000 | 0 |
Shortest loan term | 3.0 months |
Longest loan term | 12.0 months |
Approx average | 10.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 5% |
Between 7 and 9 months | 15% |
Between 10 and 12 months | 80% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | x |
Every 2 weeks | x |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 1.67% |
Highest quoted nominal interest | 1.67% |
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 | upfront fee |
% of loan amount - min | 3.00% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | 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 | 20.00% |
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 | 0 |
Maximum interest rate paid | 0 |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Loan Amount |
Type of Sample |
Disbursement Date |
Loan Term (Months) |
Grace Period (Months) |
Total Cost of Credit |
Full APR (int fee ins tax dep) |
True Price by Component |
Transparency Index |
Original Repayment Schedule |
MFT Pricing Calculation |
||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Interest price component |
Fee Component |
Insurance Component |
Tax Component |
Deposit Component |
||||||||||
KES 70,000 | Real | 2015-03-09 | 11.1 months | N/A | KES 15,023 | 63.8% | 35.7% | 6.6% | 0.0% | 0.0% | 21.5% | 31 | ||
KES 70,000 | Generated | 2015-03-01 | 11.5 months | N/A | KES 15,551.51 | 64.7% | 36.3% | 6.5% | 0.0% | 0.0% | 21.9% | 31 | - | |
KES 20,000 | Real | 2015-03-26 | 5.7 months | N/A | KES 2,631 | 67.4% | 34.9% | 11.2% | 0.0% | 0.0% | 21.3% | 30 | ||
KES 20,000 | Generated | 2015-03-01 | 5.5 months | N/A | KES 2,444.78 | 74.3% | 35.9% | 12.6% | 0.0% | 0.0% | 25.8% | 27 | - | |
KES 15,000 | Generated | 2015-03-01 | 5.5 months | N/A | KES 1,833.58 | 74.3% | 35.9% | 12.6% | 0.0% | 0.0% | 25.8% | 27 | - | |
KES 25,000 | Generated | 2015-03-01 | 5.5 months | N/A | KES 3,055.97 | 74.3% | 35.9% | 12.6% | 0.0% | 0.0% | 25.8% | 27 | - | |
KES 45,000 | Generated | 2015-03-01 | 11.5 months | N/A | KES 9,997.40 | 64.7% | 36.3% | 6.5% | 0.0% | 0.0% | 21.9% | 31 | - | |
KES 90,000 | Generated | 2015-03-01 | 12.0 months | N/A | KES 20,736 | 60.4% | 34.7% | 6.0% | 0.0% | 0.0% | 19.7% | 33 | - | |
KES 135,000 | Generated | 2015-03-01 | 12.0 months | N/A | KES 31,104 | 60.4% | 34.7% | 6.0% | 0.0% | 0.0% | 19.7% | 33 | - | |
KES 150,000 | Generated | 2015-03-01 | 11.5 months | N/A | KES 33,324.66 | 64.7% | 36.3% | 6.5% | 0.0% | 0.0% | 21.9% | 31 | - |
Key Statistics | |
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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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