| Outstanding portfolio (INR) | INR 3,861,993,634 |
| Portfolio (USD) | USD 72,867,804.42 |
| Active Clients with Loans | 355,974 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | Joint liability group of 5 members |
| 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 | Credit Education, Financial Literacy Training. |
| Other (2) | Group Meeting |
| No other services |
| Men | |
| Women | x |
| Must run a business | x |
| 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 | |
| Must live in rural area | x |
| Must lives in urban area | |
| Other | |
| Other (2) |
| # Regions for this institution | 8 |
| # Regions for this product | 5 |
| Regions Active | Bihar, Madhya Pradesh, Uttar Pradesh, Uttarakhand, National Capital Territory of Delhi |
| Currency | INR |
| Minimum loan size | INR 8,000 |
| Maximum loan size | 25,000 |
| Loans less than INR 5,000 | 0 |
| INR 5,000-15,000 | 70% |
| INR 15,000-25,000 | 30% |
| 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 | 26.0 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 | 70% |
| Longer than 18 months | 30% |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | |
| Every 2 weeks | x |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 24.00% |
| Highest quoted nominal interest | 26.00% |
| Reason(s) why interest rate varies | Client Risk |
| 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? | No |
| Ins 1 | |
|---|---|
| Description | Loan Protection Fund |
| % of loan amount - min | 1.10% |
| % of loan amount - max | 2.20% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Depends on loan amount, tenor and loan cycle |
| Appears on Repayment Sched? | No |
| 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 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | INR 8,000 | INR 12,000 | INR 18,000 | INR 20,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2013-02-25 | 2013-02-06 | 2013-02-21 | 2013-02-26 | |||
| Loan Term (Months) | 14.0 months | 14.0 months | 24.0 months | 24.0 months | |||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||
| Total Cost of Credit | INR 1,509.90 | INR 2,395.83 | INR 5,820.25 | INR 6,468.72 | |||
| True Price by Comp | |||||||
| Interest price component | 25.8% | 27.9% | 25.9% | 25.9% | |||
| Fee Component | 1.8% | 1.7% | 1.0% | 1.0% | |||
| Insurance Component | 2.3% | 2.5% | 2.5% | 2.6% | |||
| Tax Component | 0.3% | 0.2% | 0.2% | 0.1% | |||
| Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Full APR (int fee ins tax dep) | 30.2% | 32.3% | 29.6% | 29.6% | |||
| MFIN MFI Earning (Annualised) | 27.6% | 29.6% | 26.9% | 26.9% | |||
| MFIN Cost to Borrower (Annualised) | 30.2% | 32.3% | 29.6% | 29.6% | |||
| Transparency Index | 80 | 74 | 81 | 81 | |||
| MFIN Transparency Index | 100 | 100 | 100 | 100 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Institution Type | RurBank |
| Is this institution regulated? | Yes |
| Website address | N/A |
| Year established | 1997 |
| Head of Institution | Mr James Acquaye |
| Regions active | Northern Region |
| # Branches | 3 |
| Total Portfolio (nat'l) | GHS 4,468,812 |
| Total Portfolio (USD) | USD 2,268,432.49 |
| Active clients with loans | 13,801 |
| Approximate % female clients | 80% - 100% |
| Approximate % urban clients | 0% - 20% |
| Network affiliations | UNDP, TRIAS GHANA, SPEED GHANA, Oxfam |
| Funders | TRAIS, UNDP, SPEED, NORTHFIN |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Credit With Education (CWE) Loan | GHS 200 - 1,000 | 6 - 8 | 80% - 100% | 0% - 20% | Business | Women, Have business, Specific age group, Must be 18 years of age., Must have residence in the community near relevant branch. | Credit Ins | |||||||
| Salary Loan | GHS 500 - 15,000 | 6 - 36 | 40% - 60% | 0% - 20% | Consumer, Education | Women, Men, Salaried worker | Credit Ins, Overdraft |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Credit With Education (CWE) Loan | 20.00% annual, Flat | 0 Fees | 0 Ins | None | 20.00% upfront | 67% | 97.5% | 20 | ||||||||
| Salary Loan | 30.00% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 46.7% - 48.4% | 46.7% - 48.4% | 62 |
| 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 |
|---|---|---|---|---|---|---|---|
| X Axis | ||||||
|---|---|---|---|---|---|---|
| Greater than: | ||||||
| Less or equal to: | ||||||
| N (# of Samples) | ||||||
| Total Borrrowers of Samples | ||||||
| Avg | ||||||
| Min | ||||||
| Max | ||||||
| Std Dev | ||||||
| By Inst Type | ||||||
| By Country | ||||||
| X Axis | ||||||
|---|---|---|---|---|---|---|
| Greater than: | ||||||
| Less or equal to: | ||||||
| From 0 to | ||||||
| to | ||||||
| to | ||||||
| to ∞ | ||||||
