Number borrowers | 245 |
Loan Amount (range) | GHS 500 - 3,000 |
Loan Term (range) | 24 |
Other Services (text summary) | Credit Educ |
Annual Interest & Method | 24.0%-37.0% annual, Decl Bal |
Fees | 3.50% upfront |
Insurance | 1.00% upfront |
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) | 42.5% - 78.0% |
Transparency Index (min/max) | 31 - 88 |
Transparency Index (average) | 37 |
688,874 |
INR 6,000 - 50,000 |
12 - 24 |
Credit Educ, Group Mtgs, Credit Ins, Financial Literacy Training, Life Insurance |
24.0%-25.0% annual, Decl Bal |
1.00% upfront |
120.00-200.00 upfront |
12.36% fees |
N/A |
23.3% - 26.9% |
0 - 1.9% |
0 - 6.8% |
0 - 0.3% |
26.7% - 28.2% |
69 - 103 |
87 |
Outstanding portfolio (GHS) | GHS 336,888 |
Portfolio (USD) | USD 171,009.14 |
Active Clients with Loans | 245 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 80% - 100% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | x |
Other household finance | |
Other | |
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 | |
Other (2) |
# Regions for this institution | 6 |
# Regions for this product | 4 |
Regions Active | Greater Accra Region, Central Region, Western Region, Ashanti Region |
Outstanding portfolio (INR) | INR 6,336,899,594 |
Portfolio (USD) | USD 119,564,143.30 |
Active Clients with Loans | 688,874 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 80% - 100% |
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 | |
Other training | |
Other | Financial Literacy Training |
Other (2) | Life Insurance |
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 | |
Household income <120,000 INR | x |
Must live in rural area | |
Must lives in urban area | |
Other | Can be used for spouses/son's business |
Other (2) |
# Regions for this institution | 20 |
# Regions for this product | 20 |
Regions Active | Assam, Bihar, Goa, Gujarat, HaryanaJharkhand, Karnataka, Kerala, Maharashtra, Meghalaya, OrissaPunjab, Rajasthan, Tamil Nadu, Uttar Pradesh, Uttarakhand, West Bengal, Chandigarh, National Capital Territory of Delhi, Puducherry |
Currency | GHS |
Minimum loan size | GHS 500 |
Maximum loan size | 3,000 |
Loans less than GHS 1,000 | 60% |
GHS 1,000-5,000 | 40% |
GHS 5,000-7,500 | 0 |
GHS 7,500-10,000 | 0 |
GHS 10,000-13,000 | 0 |
Greater than GHS 13,000 | 0 |
Shortest loan term | 24.0 months |
Longest loan term | 24.0 months |
Approx average | 24.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 100% |
Grace period usage | 100% |
Average grace period | 12.0 months |
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 6,000 |
Maximum loan size | 50,000 |
Loans less than INR 5,000 | 0 |
INR 5,000-15,000 | 80% |
INR 15,000-25,000 | 20% |
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 | 15.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 80% |
Between 13 and 18 months | 20% |
Longer than 18 months | 0 |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | x |
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 | 24.00% |
Highest quoted nominal interest | 37.00% |
Reason(s) why interest rate varies | Lower interest rate for loans taken by students. Higher interest rate for loans taken by parents to pay for their child's education. |
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 | 3.50% |
% of loan amount - max | 3.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Loan Insurance |
% 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? | No |
Lowest quoted nominal interest | 24.00% |
Highest quoted nominal interest | 25.00% |
Reason(s) why interest rate varies | Time as Client |
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 | Credit Life Insurance |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 120 |
Fixed amount - max | 200 |
Reason for variation | Insurance cover customer & spouse for a year. |
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 | |||
---|---|---|---|---|---|
Loan Amount | GHS 610 | GHS 1,500 | GHS 2,915.16 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2013-01-21 | 2012-10-15 | 2012-11-13 | ||
Loan Term (Months) | 5.9 months | 12.0 months | 37.0 months | ||
Grace Period (Months) | -0.1 months | 0.0 months | 0.0 months | ||
Total Cost of Credit | GHS 138.39 | GHS 622.50 | GHS 2,222.42 | ||
True Price by Comp | |||||
Interest price component | 60.8% | 60.9% | 38.7% | ||
Fee Component | 13.3% | 7.2% | 2.9% | ||
Insurance Component | 3.9% | 2.2% | 0.9% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 0.0% | 0.0% | 0.0% | ||
Full APR (int fee ins tax dep) | 78.0% | 70.3% | 42.5% | ||
Transparency Index | 31 | 34 | 57 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
---|---|---|---|---|---|---|---|---|---|
Loan Amount | INR 9,000 | INR 18,000 | INR 30,000 | INR 40,000 | INR 50,000 | ||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
Disbursement Date | 2012-12-19 | 2012-12-19 | 2012-12-19 | 2013-04-18 | 2013-04-18 | ||||
Loan Term (Months) | 13.0 months | 25.0 months | 25.0 months | 25.0 months | 25.0 months | ||||
Grace Period (Months) | 0.6 months | 1.1 months | 0.8 months | 0.8 months | 0.8 months | ||||
Total Cost of Credit | INR 1,533.79 | INR 4,165 | INR 6,618.92 | INR 9,070.44 | INR 11,186.80 | ||||
True Price by Comp | |||||||||
Interest price component | 23.7% | 23.7% | 23.7% | 23.7% | 23.7% | ||||
Fee Component | 1.8% | 1.4% | 1.4% | 1.4% | 1.4% | ||||
Insurance Component | 2.4% | 2.4% | 1.5% | 2.1% | 1.7% | ||||
Tax Component | 0.3% | 0.2% | 0.1% | 0.2% | 0.2% | ||||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Full APR (int fee ins tax dep) | 28.2% | 27.7% | 26.7% | 27.4% | 27.0% | ||||
MFIN MFI Earning (Annualised) | 25.5% | 25.1% | 25.1% | 25.1% | 25.1% | ||||
MFIN Cost to Borrower (Annualised) | 28.2% | 27.7% | 26.7% | 27.4% | 27.0% | ||||
Transparency Index | 85 | 87 | 90 | 88 | 89 | ||||
MFIN Transparency Index | 100 | 100 | 100 | 100 | 100 | ||||
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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