| Number borrowers | 1,367 |
| Loan Amount (range) | GHS 500 - 3,000 |
| Loan Term (range) | 4 - 6 |
| Other Services (text summary) | Credit Educ, Group Mtgs |
| Annual Interest & Method | 48.00% annual, Flat |
| Fees | 2 fees |
| Insurance | None |
| Tax | None |
| Comp Dep | 10.00% upfront |
| Range of pricing | |
| Interest Price Component | 51.3% - 85.2% |
| Fee Component | 6.0% - 24.9% |
| Insurance Component | 0 |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 123.7% - 127.3% |
| Transparency Index (min/max) | 37 - 56 |
| Transparency Index (average) | 38 |
| 356 |
| INR 1,000 - 25,000 |
| 24.19 - 48.37 |
| Credit Educ, Group Mtgs, Credit Ins, Jagruthi- Client Education Series, Socio-Economic Development Workshop |
| 22.0% annual, Decl Bal |
| 1.00% upfront |
| 5.17-22.56 upfront |
| 12.36% fees |
| N/A |
| 21.8% - 34.0% |
| 1.1% - 11.6% |
| 0 - 16.6% |
| 0.1% - 1.5% |
| 24.0% - 24.3% |
| 51 - 92 |
| 91 |
| Outstanding portfolio (GHS) | GHS 370,227 |
| Portfolio (USD) | USD 187,932.49 |
| Active Clients with Loans | 1,367 |
| 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 | |
| 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 | |
| Other (2) |
| # Regions for this institution | 2 |
| # Regions for this product | 2 |
| Regions Active | Greater Accra Region, Central Region |
| Outstanding portfolio (INR) | INR 8,350,520 |
| Portfolio (USD) | USD 157,556.98 |
| Active Clients with Loans | 356 |
| Approximate % Female Clients | 100% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | |
| Mortgage/housing | x |
| 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 | Jagruthi- Client Education Series |
| Other (2) | Socio-Economic Development Workshop |
| No other services |
| Men | |
| Women | x |
| Must run a business | |
| Must own a home or land | x |
| 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 | All active members applying for this loan should have successfully completed 2 loan cycles of IGL Pragati/Pragati Plus loan. |
| Other (2) |
| # Regions for this institution | 3 |
| # Regions for this product | 1 |
| Regions Active | Karnataka |
| Currency | GHS |
| Minimum loan size | GHS 500 |
| Maximum loan size | 3,000 |
| Loans less than GHS 1,000 | 20% |
| GHS 1,000-5,000 | 80% |
| 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 | 4.0 months |
| Longest loan term | 6.0 months |
| Approx average | 6.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 100% |
| 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 | 100% |
| Average grace period | 0.8 months |
| Daily | |
| Weekly | x |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Currency | INR |
| Minimum loan size | INR 1,000 |
| Maximum loan size | 25,000 |
| Loans less than INR 5,000 | 0 |
| INR 5,000-15,000 | 0 |
| INR 15,000-25,000 | 100% |
| INR 25,000-35,000 | 0 |
| INR 35,000-45,000 | 0 |
| Greater than INR 45,000 | 0 |
| Shortest loan term | 24.2 months |
| Longest loan term | 48.4 months |
| Approx average | 25.6 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 | 0.2 months |
| 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 | 48.00% |
| Highest quoted nominal interest | 48.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Commitment Fee | Loan Form and Pass Book Fee | |
| % of loan amount - min | 5.00% | 0 | |
| % of loan amount - max | 5.00% | 0 | |
| OR, Fixed amount - min | 0 | 7 | |
| Fixed amount - max | 0 | 7 | |
| Reason for variation | N/A | N/A | |
| Appears on Repayment Sched? | Yes | No |
| 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 | 10.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 1.00% |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | Access During |
| Minimum interest rate paid | 2.00% |
| Maximum interest rate paid | 7.50% |
| Interest payment frequency | Monthly |
| Are taxes charged on this product? | No |
| Lowest quoted nominal interest | 22.00% |
| Highest quoted nominal interest | 22.00% |
| 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 | 5.17 |
| Fixed amount - max | 22.56 |
| Reason for variation | 104 week loan = Rs 5.17 per Rs 1000 (fee for Spouse Rs 5.17 per Rs 1000). 156 week loan = Rs 8.02 per Rs 1000 (fee for Spouse Rs 8.02 per Rs 1000). 208 week loan = Rs 11.28 per Rs 1000 (fee for Spouse Rs 11.28 per Rs 1000) |
| 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 600 | GHS 1,500 | GHS 1,200 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-02-13 | 2013-02-13 | 2013-02-13 | ||
| Loan Term (Months) | 6.0 months | 6.0 months | 6.0 months | ||
| Grace Period (Months) | 0.4 months | 0.4 months | 0.4 months | ||
| Total Cost of Credit | GHS 181 | GHS 442 | GHS 355 | ||
| True Price by Comp | |||||
| Interest price component | 81.1% | 81.1% | 81.1% | ||
| Fee Component | 24.9% | 22.0% | 22.5% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 21.3% | 20.6% | 20.7% | ||
| Full APR (int fee ins tax dep) | 127.3% | 123.7% | 124.3% | ||
| Transparency Index | 38 | 39 | 39 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 20,000 | INR 20,000 | INR 20,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-04-03 | 2013-04-25 | 2013-03-28 | ||
| Loan Term (Months) | 24.0 months | 24.0 months | 24.0 months | ||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | INR 5,445.72 | INR 5,216.72 | INR 5,495.72 | ||
| True Price by Comp | |||||
| Interest price component | 21.8% | 22.0% | 21.8% | ||
| Fee Component | 1.1% | 1.1% | 1.1% | ||
| Insurance Component | 1.0% | 1.1% | 1.3% | ||
| Tax Component | 0.1% | 0.1% | 0.1% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 24.0% | 24.3% | 24.3% | ||
| MFIN MFI Earning (Annualised) | 22.9% | 23.1% | 22.9% | ||
| MFIN Cost to Borrower (Annualised) | 24.0% | 24.3% | 24.3% | ||
| Transparency Index | 92 | 91 | 91 | ||
| MFIN Transparency Index | 100 | 100 | 100 | ||
| 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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