| Institution Type | Non-Governmental Organization |
| Is this institution regulated? | Yes |
| Website address | http://www.safesaveghana.org |
| Year established | 2011 |
| Head of Institution | Evans Forson |
| Regions active | Greater Accra Region |
| # Branches | 1 |
| Total Portfolio (nat'l) | GHS 70,000 |
| Total Portfolio (USD) | USD 35,532.99 |
| Active clients with loans | 200 |
| Approximate % female clients | 80% - 100% |
| Approximate % urban clients | 80% - 100% |
| Network affiliations | |
| Funders |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group Loan | GHS 350 - 500 | 5 - 12 | 80% - 100% | 60% - 80% | Business, Education | Women, Specific age group, Must be 18+ years old | Credit Educ, Group Mtgs, Business Training, Other Training, HIV/AIDS Awareness Training |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group Loan | 36.00% annual, Flat | 2 Fees | 0 | None | 50.00 upfront | 92.3% - 105% | 125.3% - 144.2% | 26 |
| Outstanding portfolio (KES) | KES 4,978,829.61 |
| Portfolio (USD) | USD 60,130.79 |
| Active Clients with Loans | 363 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | This loan is for the purchase of water tanks only |
| Other (2) |
| Credit education | x |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | x |
| 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 | 5 |
| # Regions for this product | 5 |
| Regions Active | Central, Coast, Eastern, Nairobi, Rift Valley |
| Currency | KES |
| Minimum loan size | KES 6,192 |
| Maximum loan size | 63,184 |
| Loans less than KES 50,000 | 30% |
| KES 50,000-150,000 | 70% |
| KES 150,000-250,000 | 0 |
| KES 250,000-350,000 | 0 |
| KES 350,000-450,000 | 0 |
| Greater than KES 450,000 | 0 |
| Shortest loan term | 3.0 months |
| Longest loan term | 12.0 months |
| Approx average | 9.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 5% |
| Between 7 and 9 months | 15% |
| Between 10 and 12 months | 80% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 0 |
| Average grace period | 0 |
| 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 |
| Lowest quoted nominal interest | 1.83% |
| Highest quoted nominal interest | 1.83% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Ins 1 | |
|---|---|
| Description | Insurance Fee |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Required for | All |
| Criteria | 10% upfront deposit requirement on individual loans, 20% upfront deposit requirement on group loans. |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 10.00% - 20.00% |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | End Term |
| 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 | KES 8,048 | KES 26,912 | KES 53,824 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-07-31 | 2013-06-04 | 2013-04-04 | ||
| Loan Term (Months) | 12.0 months | 9.0 months | 12.0 months | ||
| Grace Period (Months) | 0.1 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | KES 1,960.55 | KES 5,097.66 | KES 13,111.86 | ||
| True Price by Comp | |||||
| Interest price component | 37.9% | 38.4% | 38.5% | ||
| Fee Component | 0.0% | 0.0% | 0.0% | ||
| Insurance Component | 3.9% | 5.1% | 3.9% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 8.0% | 8.5% | 8.3% | ||
| Full APR (int fee ins tax dep) | 49.8% | 52.0% | 50.7% | ||
| Transparency Index | 44 | 42 | 43 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
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| % Products with one or more insurances | |
| % Products with compulsory deposits |
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