| Number borrowers | 53 |
| Loan Amount (range) | GHS 5,000 - 100,000 |
| Loan Term (range) | 3 - 37 |
| Other Services (text summary) | Credit Educ |
| Annual Interest & Method | 39.0% annual, Decl Bal |
| Fees | 3.50% upfront 3.00 upfront |
| Insurance | 1.00% ongoing |
| Tax | None |
| Comp Dep | 15.0% upfront |
| Range of pricing | |
| Interest Price Component | 33.9% - 69.6% |
| Fee Component | 2.9% - 24.0% |
| Insurance Component | 0.5% - 4.4% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 55.6% - 61.3% |
| Transparency Index (min/max) | 31 - 88 |
| Transparency Index (average) | 66 |
| 11,255 |
| KES 5,000 - 1,000,000 |
| 3 - 36 |
| Credit Educ, Group Mtgs, Credit Ins, Business Training, Other Training, Leadership Training |
| 21.0% annual, Flat |
| 400.00-0.00 upfront |
| 1.50% upfront |
| None |
| 10.0%-15.0% upfront 100.00 ongoing |
| 33.6% - 40.3% |
| 0 - 10.6% |
| 0 - 4.1% |
| 0 |
| 50.4% - 62.0% |
| 24 - 56 |
| 39 |
| Outstanding portfolio (GHS) | GHS 476,439 |
| Portfolio (USD) | USD 241,847.21 |
| Active Clients with Loans | 53 |
| Approximate % Female Clients | 0 |
| Approximate % Urban Clients | 60% - 80% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | Institutional loan |
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | Financing church building |
| Other (2) |
| Credit education | x |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Fully registered functioning church |
| Other (2) |
| # Regions for this institution | 6 |
| # Regions for this product | 6 |
| Regions Active | Greater Accra Region, Central Region, Western Region, Eastern Region, Ashanti Region, Brong Ahafo Region |
| Outstanding portfolio (KES) | KES 209,811,535.90 |
| Portfolio (USD) | USD 2,533,955.75 |
| Active Clients with Loans | 11,255 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 40% - 60% |
| 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 | x |
| Workplace visits | |
| Business training | x |
| Other training | x |
| Other | Leadership Training |
| 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 | x |
| Other | |
| Other (2) |
| # Regions for this institution | 1 |
| # Regions for this product | 1 |
| Regions Active | Coast |
| Currency | GHS |
| Minimum loan size | GHS 5,000 |
| Maximum loan size | 100,000 |
| Loans less than GHS 1,000 | 0 |
| GHS 1,000-5,000 | 0 |
| GHS 5,000-7,500 | 20% |
| GHS 7,500-10,000 | 20% |
| GHS 10,000-13,000 | 20% |
| Greater than GHS 13,000 | 20% |
| Shortest loan term | 3.0 months |
| Longest loan term | 37.0 months |
| Approx average | 20.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 70% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 30% |
| Grace period usage | 100% |
| Average grace period | 1.0 month |
| 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 |
| Currency | KES |
| Minimum loan size | KES 5,000 |
| Maximum loan size | 1,000,000 |
| Loans less than KES 50,000 | 40% |
| KES 50,000-150,000 | 30% |
| KES 150,000-250,000 | 15% |
| KES 250,000-350,000 | 15% |
| KES 350,000-450,000 | 0 |
| Greater than KES 450,000 | 0 |
| Shortest loan term | 3.0 months |
| Longest loan term | 36.0 months |
| Approx average | 12.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 10% |
| Between 7 and 9 months | 10% |
| Between 10 and 12 months | 40% |
| Between 13 and 18 months | 40% |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 1.0 month |
| Daily | |
| Weekly | |
| Every 2 weeks | x |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 39.00% |
| Highest quoted nominal interest | 39.00% |
| 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 | Fee 2 | ||
|---|---|---|---|
| Description | Processing Fee | Application Fee | |
| % of loan amount - min | 3.50% | 0 | |
| % of loan amount - max | 3.50% | 0 | |
| OR, Fixed amount - min | 0 | 3 | |
| Fixed amount - max | 0 | 3 | |
| Reason for variation | N/A | N/A | |
| Appears on Repayment Sched? | No | 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 | 1% of total loan amount, divided and charged equally throughout loan term. |
| Appears on Repayment Sched? | Yes |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 15.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | Final Pmt |
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 3.00% |
| Interest payment frequency | Monthly |
| Are taxes charged on this product? | No |
| Lowest quoted nominal interest | 21.00% |
| Highest quoted nominal interest | 21.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Application Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 400 |
| Fixed amount - max | 0 |
| Reason for variation | KES 400 Minimum |
| Appears on Repayment Sched? | No |
| Ins 1 | |
|---|---|
| Description | Emergency Fund |
| % 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 |
| Required for | All |
| Criteria | Rural loans <30,000 KES =15%. Loans >30,000 KES = 10%. Urban loans <100,000 KES = 15%. Loans >100,000 KES = 10% |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 10.00% - 15.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | KES 100 |
| Conditions on access to deposit | Access During |
| Minimum interest rate paid | 2.00% |
| Maximum interest rate paid | 4.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | GHS 6,000 | GHS 9,000 | GHS 12,000 | GHS 15,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2012-07-17 | 2012-06-29 | 2012-11-23 | 2012-03-23 | |||
| Loan Term (Months) | 25.0 months | 13.0 months | 18.0 months | 37.0 months | |||
| Grace Period (Months) | 0.4 months | 1.0 month | 0.0 months | 0.0 months | |||
| Total Cost of Credit | GHS 2,810.68 | GHS 2,625.71 | GHS 4,276.98 | GHS 9,803.87 | |||
| True Price by Comp | |||||||
| Interest price component | 38.7% | 38.8% | 38.8% | 38.8% | |||
| Fee Component | 4.3% | 6.5% | 5.4% | 3.3% | |||
| Insurance Component | 0.8% | 1.5% | 1.2% | 0.5% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 14.0% | 14.5% | 15.2% | 13.0% | |||
| Full APR (int fee ins tax dep) | 57.8% | 61.3% | 60.6% | 55.6% | |||
| Transparency Index | 67 | 64 | 64 | 70 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | KES 30,000 | KES 50,000 | KES 100,000 | KES 200,000 | KES 250,000 | ||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
| Disbursement Date | 2013-06-10 | 2013-04-25 | 2013-04-08 | 2013-05-09 | 2013-07-30 | ||||
| Loan Term (Months) | 12.0 months | 12.0 months | 17.0 months | 17.0 months | 17.0 months | ||||
| Grace Period (Months) | 0.5 months | 0.5 months | 0.5 months | 0.5 months | 0.5 months | ||||
| Total Cost of Credit | KES 7,150 | KES 11,750 | KES 34,000 | KES 68,000 | KES 85,000 | ||||
| True Price by Comp | |||||||||
| Interest price component | 37.8% | 37.8% | 38.2% | 38.2% | 38.2% | ||||
| Fee Component | 2.7% | 2.1% | 1.4% | 1.4% | 1.4% | ||||
| Insurance Component | 3.2% | 3.1% | 2.3% | 2.3% | 2.3% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 18.3% | 10.4% | 9.4% | 8.6% | 8.5% | ||||
| Full APR (int fee ins tax dep) | 62.0% | 53.4% | 51.3% | 50.5% | 50.4% | ||||
| Transparency Index | 34 | 39 | 41 | 42 | 42 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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