| Number borrowers | 140 |
| Loan Amount (range) | GHS 200 - 25,000 |
| Loan Term (range) | 1 - 12 |
| Other Services (text summary) | Credit Educ, Business Training |
| 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) | 127.1% - 130.5% |
| Transparency Index (min/max) | 37 - 56 |
| Transparency Index (average) | 37 |
| 42,080 |
| INR 12,000 - 15,000 |
| 15 - 18 |
| Credit Educ, Group Mtgs, Credit Ins |
| 26.0%-28.5% annual, Decl Bal |
| 1.00% upfront |
| 198.00-234.00 upfront |
| 12.36% fees |
| N/A |
| 24.9% - 27.9% |
| 1.0% - 1.6% |
| 2.1% - 2.7% |
| 0.1% - 0.2% |
| 29.4% - 30.7% |
| 82 - 90 |
| 87 |
| Outstanding portfolio (GHS) | GHS 189,042.91 |
| Portfolio (USD) | USD 95,960.87 |
| Active Clients with Loans | 140 |
| 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 |
| Outstanding portfolio (INR) | INR 383,625,000 |
| Portfolio (USD) | USD 7,238,207.55 |
| Active Clients with Loans | 42,080 |
| Approximate % Female Clients | 100% |
| Approximate % Urban Clients | 0% - 20% |
| 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 | |
| Other (2) | |
| No other services |
| Men | |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | x |
| Household income <60,000 INR | x |
| Household income <120,000 INR | x |
| Must live in rural area | x |
| Must lives in urban area | x |
| Other | Must be economically active |
| Other (2) |
| # Regions for this institution | 1 |
| # Regions for this product | 1 |
| Regions Active | Gujarat |
| 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 |
| Currency | INR |
| Minimum loan size | INR 12,000 |
| 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 | 15.0 months |
| Longest loan term | 18.0 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 | 0 |
| Between 13 and 18 months | 100% |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 1.0 month |
| 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 |
| Lowest quoted nominal interest | 48.00% |
| Highest quoted nominal interest | 48.00% |
| 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 | 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 | 2.00% |
| 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 | 26.00% |
| Highest quoted nominal interest | 28.50% |
| Reason(s) why interest rate varies | To comply with extant RBI guidelines on pricing |
| 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 | Service tax extra |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Life Insurance (Credit Shield) Premium |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 198 |
| Fixed amount - max | 234 |
| Reason for variation | The premium is based on period of insurance coverage which can be either 18 or 19 months, depending upon the loan tenor |
| 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 800 | GHS 1,000 | GHS 2,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2012-12-19 | 2012-12-17 | 2012-12-20 | ||
| Loan Term (Months) | 5.9 months | 6.0 months | 5.9 months | ||
| Grace Period (Months) | 0.3 months | 0.4 months | 0.3 months | ||
| Total Cost of Credit | GHS 237 | GHS 295 | GHS 585 | ||
| True Price by Comp | |||||
| Interest price component | 83.8% | 82.4% | 85.2% | ||
| Fee Component | 23.4% | 22.5% | 22.2% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 22.9% | 22.2% | 23.1% | ||
| Full APR (int fee ins tax dep) | 130.1% | 127.1% | 130.5% | ||
| Transparency Index | 37 | 38 | 37 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 15,000 | INR 12,000 | INR 15,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-03-01 | 2012-10-02 | 2012-11-08 | ||
| Loan Term (Months) | 19.0 months | 16.0 months | 15.0 months | ||
| Grace Period (Months) | 0.3 months | 0.2 months | 0.2 months | ||
| Total Cost of Credit | INR 3,985.54 | INR 2,427.83 | INR 3,088.54 | ||
| True Price by Comp | |||||
| Interest price component | 27.1% | 24.9% | 25.5% | ||
| Fee Component | 1.3% | 1.6% | 1.6% | ||
| Insurance Component | 2.1% | 2.7% | 2.1% | ||
| Tax Component | 0.2% | 0.2% | 0.2% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 30.7% | 29.4% | 29.4% | ||
| MFIN MFI Earning (Annualised) | 28.4% | 26.5% | 27.1% | ||
| MFIN Cost to Borrower (Annualised) | 30.7% | 29.4% | 29.4% | ||
| Transparency Index | 85 | 88 | 88 | ||
| MFIN Transparency Index | 96 | 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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