Number borrowers | 1,443 |
Loan Amount (range) | GHS 100 - 10,000 |
Loan Term (range) | 3 - 12 |
Other Services (text summary) | Credit Educ, Credit Ins, Tech Asst Visits, Business Training |
Annual Interest & Method | 39.0% annual, Flat |
Fees | 3.00% upfront 3.00 upfront |
Insurance | 1.00% ongoing |
Tax | None |
Comp Dep | N/A |
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) | 69.8% - 77.3% |
Transparency Index (min/max) | 31 - 88 |
Transparency Index (average) | 53 |
21,038 |
INR 5,000 - 30,000 |
12 - 24 |
Credit Educ, Group Mtgs, Credit Ins, Business Training |
25.0%-26.7% annual, Decl Bal |
1.00% upfront |
0.70% upfront |
12.36% fees |
N/A |
25.8% - 27.3% |
2.1% - 2.3% |
1.5% - 1.6% |
0.3% |
30.9% - 31.5% |
79 - 84 |
80 |
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% |
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 | x |
Group meetings | |
Credit insurance | x |
Workplace visits | x |
Business training | x |
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 | |
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 (INR) | INR 162,845,583 |
Portfolio (USD) | USD 3,072,558.17 |
Active Clients with Loans | 21,038 |
Approximate % Female Clients | 100% |
Approximate % Urban Clients | 60% - 80% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | x |
Other | Joint Liability Group |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | x |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | x |
Workplace visits | |
Business training | x |
Other training | |
Other | |
Other (2) | |
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 | |
Household income <60,000 INR | x |
Household income <120,000 INR | x |
Must live in rural area | |
Must lives in urban area | |
Other | 3 Out of 5 members should have own house in a group |
Other (2) | Age should be above 18 and upto 58 |
# Regions for this institution | 5 |
# Regions for this product | 3 |
Regions Active | Andhra Pradesh, Orissa, Tamil Nadu |
Currency | GHS |
Minimum loan size | GHS 100 |
Maximum loan size | 10,000 |
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 |
Shortest loan term | 3.0 months |
Longest loan term | 12.0 months |
Approx average | 7.0 months |
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 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 | INR |
Minimum loan size | INR 5,000 |
Maximum loan size | 30,000 |
Loans less than INR 5,000 | 5% |
INR 5,000-15,000 | 90% |
INR 15,000-25,000 | 5% |
INR 25,000-35,000 | 0 |
INR 35,000-45,000 | 0 |
Greater than INR 45,000 | 0 |
Shortest loan term | 12.0 months |
Longest loan term | 24.0 months |
Approx average | DK |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 60% |
Between 13 and 18 months | 40% |
Longer than 18 months | 0 |
Grace period usage | 0 |
Average grace period | 0 |
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% |
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 |
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 |
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 | 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? | No |
Lowest quoted nominal interest | 25.00% |
Highest quoted nominal interest | 26.72% |
Reason(s) why interest rate varies | Loan Size, Changes in Interest rates are due to competition, company performance and regulation |
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 | 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 |
Ins 1 | |
---|---|
Description | Insurance |
% of loan amount - min | 0.70% |
% of loan amount - max | 0.70% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
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 | 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 | |||||||||||
MFT Pricing Calculation |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | INR 10,000 | INR 15,000 | INR 12,000 | INR 12,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2012-09-06 | 2012-09-25 | 2012-09-06 | 2012-09-06 | |||
Loan Term (Months) | 11.0 months | 11.0 months | 11.0 months | 11.0 months | |||
Grace Period (Months) | -0.3 months | -0.3 months | -0.3 months | -0.3 months | |||
Total Cost of Credit | INR 1,507.36 | INR 2,298.54 | INR 1,818.83 | INR 1,818.83 | |||
True Price by Comp | |||||||
Interest price component | 27.3% | 27.2% | 26.8% | 26.8% | |||
Fee Component | 2.3% | 2.2% | 2.3% | 2.3% | |||
Insurance Component | 1.6% | 1.5% | 1.5% | 1.5% | |||
Tax Component | 0.3% | 0.3% | 0.3% | 0.3% | |||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Full APR (int fee ins tax dep) | 31.5% | 31.2% | 30.9% | 30.9% | |||
MFIN MFI Earning (Annualised) | 29.6% | 29.4% | 29.1% | 29.1% | |||
MFIN Cost to Borrower (Annualised) | 31.5% | 31.2% | 30.9% | 30.9% | |||
Transparency Index | 79 | 80 | 81 | 81 | |||
MFIN Transparency Index | 92 | 92 | 93 | 93 | |||
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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