Outstanding portfolio (GHS) | GHS 591,337.42 |
Portfolio (USD) | USD 300,171.28 |
Active Clients with Loans | 435 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 60% - 80% |
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 | |
Workplace visits | |
Business training | x |
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 |
Currency | GHS |
Minimum loan size | GHS 200 |
Maximum loan size | 25,000 |
Loans less than GHS 1,000 | 0 |
GHS 1,000-5,000 | 0 |
GHS 5,000-7,500 | 10% |
GHS 7,500-10,000 | 10% |
GHS 10,000-13,000 | 15% |
Greater than GHS 13,000 | 15% |
Shortest loan term | 1.0 month |
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 | 1.0 month |
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 | 35.00% |
Highest quoted nominal interest | 35.00% |
Reason(s) why interest rate varies | Client Risk |
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 | Loan Form Fee | Commitment Fee | |
% of loan amount - min | 0 | 5.00% | |
% of loan amount - max | 0 | 5.00% | |
OR, Fixed amount - min | 5 | 0 | |
Fixed amount - max | 5 | 0 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | No | 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 |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | GHS 8,000 | GHS 15,000 | GHS 20,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2013-03-13 | 2013-01-09 | 2013-01-21 | ||
Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | ||
Grace Period (Months) | 0.0 months | 0.0 months | 0.1 months | ||
Total Cost of Credit | GHS 3,204.96 | GHS 6,005 | GHS 8,013 | ||
True Price by Comp | |||||
Interest price component | 57.6% | 58.1% | 57.9% | ||
Fee Component | 10.6% | 10.6% | 10.6% | ||
Insurance Component | 0.0% | 0.0% | 0.0% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 0.0% | 0.0% | 0.0% | ||
Full APR (int fee ins tax dep) | 68.2% | 68.7% | 68.5% | ||
Transparency Index | 51 | 51 | 51 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Institution Type | Credit Union / Cooperative |
Is this institution regulated? | Yes |
Website address | http://www.zigamacss.com/ |
Year established | 1998 |
Head of Institution | Geoffrey Byegeka |
Regions active | Bugesera, Gasabo, Gicumbi, Huye, Karongi, Kicukiro, Muhanga, Musanze, Ngoma, Nyagatare, Nyarugenge |
# Branches | 16 |
Total Portfolio (nat'l) | RWF 38,189,281,936 |
Total Portfolio (USD) | USD 59,670,753.03 |
Active clients with loans | 53,806 |
Approximate % female clients | 0% - 20% |
Approximate % urban clients | 0% - 20% |
Network affiliations | Rwanda Banking Association |
Funders |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Medium Term Loan | RWF 1,000,000 - 50,000,000 | 36 - 60 | 0% - 20% | 0% - 20% | Any Purpose | Women, Men, Only members - soldiers, police officers, veterans, Spouses and widows of these groups | Credit Educ | |||||||
Short Term Loan | RWF 100,000 - 5,000,000 | 3 - 36 | 0% - 20% | 0% - 20% | Business, Consumer, Education, Other, Medicals bills, Insurance, Marriage | Women, Men, Only members - soldiers, police officers, veterans, Spouses and widows of these groups | Credit Educ |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Medium Term Loan | 13.00%-13.50% annual, Decl Bal | 2 Fees | 0 Ins | None | 10.00% upfront | 13.1% - 14.4% | 15.6% - 17.3% | 78 | ||||||||
Short Term Loan | 15.00% annual, Decl Bal | 2 Fees | 0 Ins | None | 30.00% upfront | 14.2% - 39.9% | 24.7% - 57.5% | 41 |
Key Statistics | |
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Loan Portfolio (USD) | |
% Products using declining balance | |
% Products with one or more fee | |
% Products with one or more insurances | |
% Products with compulsory deposits |
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