| Outstanding portfolio (KES) | KES 15,968,913.11 |
| Portfolio (USD) | USD 192,861.27 |
| Active Clients with Loans | 219 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 60% - 80% |
| 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 | x |
| Other | Fire/Burglary Insurance |
| 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 | Must have run a business for at least 24 months |
| Other (2) |
| # Regions for this institution | 4 |
| # Regions for this product | 4 |
| Regions Active | Nairobi, Nyanza, Rift Valley, Western |
| Currency | KES |
| Minimum loan size | KES 50,000 |
| Maximum loan size | 500,000 |
| Loans less than KES 50,000 | 15% |
| KES 50,000-150,000 | 50% |
| KES 150,000-250,000 | 20% |
| KES 250,000-350,000 | 10% |
| KES 350,000-450,000 | 5% |
| Greater than KES 450,000 | 5% |
| Shortest loan term | 6.0 months |
| Longest loan term | 36.0 months |
| Approx average | DK |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 15% |
| Between 7 and 9 months | 5% |
| Between 10 and 12 months | 70% |
| Between 13 and 18 months | 10% |
| Longer than 18 months | 0 |
| Grace period usage | 10% |
| Average grace period | DK |
| Daily | |
| Weekly | x |
| 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 | 22.00% |
| Highest quoted nominal interest | 22.00% |
| Reason(s) why interest rate varies | Branch, Time as Client |
| 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 Application Fee | Chattels Fee | |
| % of loan amount - min | 0 | 0 | |
| % of loan amount - max | 2.00% | 0 | |
| OR, Fixed amount - min | 1,000 | 1,300 | |
| Fixed amount - max | 0 | 1,300 | |
| Reason for variation | 2% with KES 1000 minimum | Charged on all loans | |
| Appears on Repayment Sched? | Yes | Yes |
| Ins 1 | |
|---|---|
| Description | Insurance Fee |
| % of loan amount - min | 1.60% |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | <12 month =1.6%, 13-24 months=1.75%, 25+ months=3%. Either upfront or continuing. |
| Appears on Repayment Sched? | 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 | 25.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | KES 200 |
| Conditions on access to deposit | Access During |
| Minimum interest rate paid | 1.00% |
| Maximum interest rate paid | 1.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | KES 50,000 | KES 100,000 | KES 185,000 | KES 295,000 | KES 400,000 | ||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
| Disbursement Date | 2013-05-27 | 2013-05-15 | 2013-05-29 | 2013-05-03 | 2013-04-30 | ||||
| Loan Term (Months) | 12.0 months | 12.0 months | 18.0 months | 24.0 months | 24.0 months | ||||
| Grace Period (Months) | 0.2 months | 0.7 months | 0.7 months | 0.5 months | 0.5 months | ||||
| Total Cost of Credit | KES 14,069.86 | KES 28,759.73 | KES 70,198 | KES 141,364.38 | KES 191,217.81 | ||||
| True Price by Comp | |||||||||
| Interest price component | 39.5% | 41.0% | 38.4% | 37.3% | 37.3% | ||||
| Fee Component | 9.8% | 6.7% | 3.8% | 2.7% | 2.6% | ||||
| Insurance Component | 3.5% | 3.3% | 1.8% | 1.8% | 1.8% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 59.7% | 41.6% | 32.0% | 26.4% | 25.8% | ||||
| Full APR (int fee ins tax dep) | 112.5% | 92.6% | 76.0% | 68.2% | 67.5% | ||||
| Transparency Index | 20 | 24 | 29 | 32 | 33 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
| Institution Type | RurBank |
| Is this institution regulated? | Yes |
| Website address | http://[email protected] |
| Year established | 1982 |
| Head of Institution | C.K Ablerdu |
| Regions active | Ashanti Region |
| # Branches | 9 |
| Total Portfolio (nat'l) | GHS 12,511,356 |
| Total Portfolio (USD) | USD 6,350,942.13 |
| Active clients with loans | 4,013 |
| Approximate % female clients | 60% - 80% |
| Approximate % urban clients | 40% - 60% |
| Network affiliations | ARB Apex, GHAMFIN |
| Funders | SPEED Ghana, MiDA, MASLOC |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Commercial Loan | GHS 500 - 90,000 | 6 - 18 | 20% - 40% | 60% - 80% | Business | Women, Men, Have business | Group Mtgs, Credit Ins, Other Training | |||||||
| Salary Loan | GHS 200 - 6,000 | 6 - 18 | 20% - 40% | 60% - 80% | Any Purpose | Women, Men, Salaried worker | Credit Educ, Group Mtgs, Credit Ins, Other Training | |||||||
| Susu Loan | GHS 50 - 20,000 | 3 - 12 | 60% - 80% | 40% - 60% | Business, Housing, Consumer, Education, Other | Women, Men, Have business, Must have conttributed savings depsoit for at least 3 months. | Credit Educ, Group Mtgs, Credit Ins, Other Training |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Commercial Loan | 28.00% annual, Flat | 1 Fee | 0 Ins | None | 30.00% upfront | 53% - 56.8% | 97.1% - 106.4% | 27 | ||||||||
| Salary Loan | 30.00% annual, Flat | 1 Fee | 0 Ins | None | N/A | 54.2% - 77.7% | 54.2% - 77.7% | 48 | ||||||||
| Susu Loan | 28.00% annual, Flat | 1 Fee | 0 Ins | None | 50.00% upfront | 51.9% - 56.3% | 179.5% - 210.9% | 14 |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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