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Institution
Data approved: 2013-03-12
Data version: 2
Age of data: 139 months
Key Statistics
| Outstanding portfolio (GHS) | GHS 1,799,523 |
| Portfolio (USD) | USD 913,463.45 |
| Active Clients with Loans | 1,443 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 40% - 60% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
Susu loan is offered to Susu depositors after three months contributions. No collateral is required under this loan and repayment is small amount on a daily basis.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | x |
| Business training | x |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| 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 | |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # 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 |
Loan Conditions
Loan Amount
| Currency | GHS |
| Minimum loan size | GHS 100 |
| Maximum loan size | 10,000 |
Distribution at Disbursement (Est.)
| Loans less than GHS 1,000 | 30% |
| GHS 1,000-5,000 | 60% |
| GHS 5,000-7,500 | 10% |
| GHS 7,500-10,000 | 0 |
| GHS 10,000-13,000 | 0 |
| Greater than GHS 13,000 | 0 |
Loan Term and Grace Period
| Shortest loan term | 3.0 months |
| Longest loan term | 12.0 months |
| Approx average | 7.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 10% |
| Between 4 and 6 months | 40% |
| Between 7 and 9 months | 50% |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
Grace Period
| Grace period usage | 100% |
| Average grace period | 1.0 month |
Repayment Frequency
| 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 | |
Pricing Information
Interest
| Lowest quoted nominal interest | 39.00% |
| Highest quoted nominal interest | 39.00% |
| Reason(s) why interest rate varies | Time as Client, Loan Size, Client Risk, Loan Purpose |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 | | Fee 2 |
|---|
| Description | Processing Fee | | Application Fee |
| % of loan amount - min | 3.00% | | 0 |
| % of loan amount - max | 3.00% | | 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 |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
| 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 |
Compulsory Deposit
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
Deposits DURING period payments
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
Interest Paid on Deposit
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Interest paid on deposit rule - If amount deposited is less than 1,000 GHS, 0% interest. If amount deposited is 1,000 GHS or more, 3% interest.
Full Pricing Data
Susu Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
|---|
| Loan Amount | GHS 300 | | GHS 700 | | GHS 1,400 | | GHS 3,000 | | GHS 6,000 | | GHS 8,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2012-12-18 | | 2012-10-17 | | 2012-12-14 | | 2012-12-17 | | 2012-05-09 | | 2012-06-25 |
| Loan Term (Months) | 6.0 months | | 7.0 months | | 10.0 months | | 6.0 months | | 12.0 months | | 12.0 months |
| Grace Period (Months) | 0.5 months | | 0.5 months | | 0.4 months | | 0.3 months | | 0.4 months | | 0.4 months |
| Total Cost of Credit | GHS 78.84 | | GHS 182.28 | | GHS 540.80 | | GHS 755.10 | | GHS 2,524.70 | | GHS 3,575.40 |
| True Price by Comp | | | | | | | | | | | |
| Interest price component | 59.7% | | 59.6% | | 62.4% | | 60.9% | | 61.8% | | 61.5% |
| Fee Component | 14.9% | | 12.8% | | 8.5% | | 12.2% | | 7.4% | | 6.9% |
| Insurance Component | 2.7% | | 2.6% | | 1.6% | | 2.8% | | 1.5% | | 1.4% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 77.3% | | 75.0% | | 72.5% | | 75.9% | | 70.7% | | 69.8% |
| Transparency Index | 50 | | 52 | | 54 | | 51 | | 55 | | 56 |
| | | | | | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
