Number borrowers | 256 |
Loan Amount (range) | GHS 500 - 3,000 |
Loan Term (range) | 2 - 12 |
Other Services (text summary) | Credit Ins |
Annual Interest & Method | 60.00%-120.00% annual, Flat |
Fees | 2 fees |
Insurance | 1.20% upfront |
Tax | None |
Comp Dep | 30.00% upfront |
Range of pricing | |
Interest Price Component | 110.7% - 154.0% |
Fee Component | 9.8% - 26.0% |
Insurance Component | 5.1% - 6.4% |
Tax Component Range | 0 |
Full APR (int fee ins tax dep) | 230.8% - 268.3% |
Transparency Index (min/max) | 22 - 26 |
Transparency Index (average) | 23 |
161,167 |
INR 5,000 - 15,000 |
12 |
26.0% annual, Decl Bal |
1.00% upfront |
383.00 upfront |
12.36% fees |
N/A |
21.8% - 34.0% |
1.1% - 11.6% |
0 - 16.6% |
0.1% - 1.5% |
36.4% - 45.1% |
51 - 92 |
64 |
Outstanding portfolio (GHS) | GHS 125,000 |
Portfolio (USD) | USD 63,451.78 |
Active Clients with Loans | 256 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 60% - 80% |
Individual | x |
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 | |
Group meetings | |
Credit insurance | x |
Workplace visits | |
Business training | |
Other training | |
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 | Usually must have run a business for at least 3 years |
Other (2) |
# Regions for this institution | 1 |
# Regions for this product | 1 |
Regions Active | Greater Accra Region |
Outstanding portfolio (INR) | INR 1,003,042,000 |
Portfolio (USD) | USD 18,925,320.75 |
Active Clients with Loans | 161,167 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 0% - 20% |
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 | |
Group meetings | |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services | x |
Men | |
Women | x |
Must run a business | |
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 | |
Must live in rural area | |
Must lives in urban area | |
Other | |
Other (2) |
# Regions for this institution | 3 |
# Regions for this product | 3 |
Regions Active | Karnataka, Maharashtra, Tamil Nadu |
Currency | GHS |
Minimum loan size | GHS 500 |
Maximum loan size | 3,000 |
Loans less than GHS 1,000 | 50% |
GHS 1,000-5,000 | 50% |
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 | 2.0 months |
Longest loan term | 12.0 months |
Approx average | 6.0 months |
Loans 3 months or less | 40% |
Between 4 and 6 months | 60% |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | |
Every 2 weeks | x |
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 | 15,000 |
Loans less than INR 5,000 | 0 |
INR 5,000-15,000 | 100% |
INR 15,000-25,000 | 0 |
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 | 12.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 100% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 100% |
Average grace period | N/A |
Daily | |
Weekly | x |
Every 2 weeks | x |
Every 4 weeks | x |
Monthly | |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 5.00% |
Highest quoted nominal interest | 10.00% |
Reason(s) why interest rate varies | Client Risk, Loan Purpose |
Interest rate period | Monthly |
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 | Registration Fee | |
% of loan amount - min | 2.00% | 0 | |
% of loan amount - max | 2.00% | 0 | |
OR, Fixed amount - min | 0 | 10 | |
Fixed amount - max | 0 | 10 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | No | No |
Ins 1 | |
---|---|
Description | Insurance Fee |
% of loan amount - min | 1.20% |
% of loan amount - max | 1.20% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | Yes |
% loan amount deposited | 30.00% |
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 | 10.50% |
Maximum interest rate paid | 10.50% |
Interest payment frequency | Annually |
Are taxes charged on this product? | No |
Lowest quoted nominal interest | 26.00% |
Highest quoted nominal interest | 26.00% |
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 | |
---|---|
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 Fees |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 383 |
Fixed amount - max | 383 |
Reason for variation | Premium For Member (In case the member has no spouse or if spouse is not eligible for coverage, only member should be covered under the scheme)-Rs 128, Premium for member and spouse-Rs 383 |
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? | Yes |
Percentage of fees | 12.4% |
All or some fees taxed | Some |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | GHS 700 | GHS 1,500 | GHS 3,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2013-01-22 | 2012-11-25 | 2013-02-15 | ||
Loan Term (Months) | 5.8 months | 4.3 months | 5.8 months | ||
Grace Period (Months) | 0.2 months | 0.1 months | 0.2 months | ||
Total Cost of Credit | GHS 326.40 | GHS 433 | GHS 1,366 | ||
True Price by Comp | |||||
Interest price component | 136.9% | 110.7% | 136.9% | ||
Fee Component | 14.4% | 13.8% | 9.8% | ||
Insurance Component | 5.2% | 6.4% | 5.1% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 111.8% | 99.9% | 107.7% | ||
Full APR (int fee ins tax dep) | 268.3% | 230.8% | 259.5% | ||
Transparency Index | 22 | 26 | 23 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | INR 5,000 | INR 10,000 | INR 10,000 | INR 5,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2013-04-23 | 2013-04-09 | 2013-04-16 | 2013-04-16 | |||
Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | 12.0 months | |||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||
Total Cost of Credit | INR 1,139.18 | INR 1,895.36 | INR 1,895.36 | INR 1,139.18 | |||
True Price by Comp | |||||||
Interest price component | 26.1% | 26.0% | 26.0% | 26.1% | |||
Fee Component | 2.1% | 2.0% | 2.0% | 2.1% | |||
Insurance Component | 16.6% | 8.1% | 8.1% | 16.6% | |||
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) | 45.1% | 36.4% | 36.4% | 45.1% | |||
MFIN MFI Earning (Annualised) | 28.2% | 28.0% | 28.0% | 28.2% | |||
MFIN Cost to Borrower (Annualised) | 45.1% | 36.4% | 36.4% | 45.1% | |||
Transparency Index | 58 | 71 | 71 | 58 | |||
MFIN Transparency Index | 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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