| Number borrowers | 57 |
| Loan Amount (range) | KES 12,745 - 12,745 |
| Loan Term (range) | 3 - 12 |
| Other Services (text summary) | Credit Educ, Group Mtgs, Business Training, Other Training, Leadership Training |
| Annual Interest & Method | 18.5% annual, Flat |
| Fees | 400.00-0.00 upfront |
| Insurance | 1.50% upfront |
| Tax | None |
| Comp Dep | 10.0%-15.0% upfront 100.00 ongoing |
| Range of pricing | |
| Interest Price Component | 33.6% - 40.3% |
| Fee Component | 0 - 10.6% |
| Insurance Component | 0 - 4.1% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 68.6% |
| Transparency Index (min/max) | 24 - 56 |
| Transparency Index (average) | 31 |
| 3,045 |
| GHS 300 - 7,000 |
| 6 - 8 |
| Group Mtgs, Credit Ins, Business Training, Other Training, Extention Services |
| 39.00%-52.00% annual, Flat |
| 2 fees |
| 0.50% upfront |
| None |
| 15.00%-20.00% upfront |
| 36.2% - 87.6% |
| 6.9% - 20.2% |
| 1.1% - 4.7% |
| 0 |
| 55.1% - 68.0% |
| 21 - 71 |
| 65 |
| Outstanding portfolio (KES) | KES 276,315.17 |
| Portfolio (USD) | USD 3,337.14 |
| Active Clients with Loans | 57 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 40% - 60% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | x |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | |
| Business training | x |
| Other training | x |
| Other | Leadership Training |
| 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 | x |
| Other | |
| Other (2) |
| # Regions for this institution | 1 |
| # Regions for this product | 1 |
| Regions Active | Coast |
| Outstanding portfolio (GHS) | GHS 654,472.04 |
| Portfolio (USD) | USD 332,219.31 |
| Active Clients with Loans | 3,045 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| Solidarity group | x |
| Village banking | x |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | x |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | x |
| Other training | x |
| Other | Extention Services |
| 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 | x |
| Other | Must be resident in community near branch for at least on year |
| Other (2) |
| # Regions for this institution | 10 |
| # Regions for this product | 10 |
| Regions Active | Greater Accra Region, Central Region, Western Region, Eastern Region, Volta Region, Ashanti Region, Brong Ahafo Region, Northern Region, Upper East Region, Upper West Region |
| Currency | KES |
| Minimum loan size | KES 12,745 |
| Maximum loan size | 12,745 |
| Loans less than KES 50,000 | 100% |
| KES 50,000-150,000 | 0 |
| 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 | 6.0 months |
| Loans 3 months or less | 5% |
| Between 4 and 6 months | 15% |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 80% |
| Between 13 and 18 months | 0 |
| 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 | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Currency | GHS |
| Minimum loan size | GHS 300 |
| Maximum loan size | 7,000 |
| Loans less than GHS 1,000 | 90% |
| GHS 1,000-5,000 | 10% |
| GHS 5,000-7,500 | 0 |
| GHS 7,500-10,000 | 0 |
| GHS 10,000-13,000 | 0 |
| Greater than GHS 13,000 | 0 |
| Shortest loan term | 6.0 months |
| Longest loan term | 8.0 months |
| Approx average | 7.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 80% |
| Between 7 and 9 months | 20% |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 5.0 months |
| 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 | 18.50% |
| Highest quoted nominal interest | 18.50% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Application Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 400 |
| Fixed amount - max | 0 |
| Reason for variation | KES 400 Minimum |
| Appears on Repayment Sched? | No |
| Ins 1 | |
|---|---|
| Description | Emergency Fund |
| % of loan amount - min | 1.50% |
| % of loan amount - max | 1.50% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Required for | All |
| Criteria | Rural loans <30,000 KES =15%. Loans >30,000 KES = 10%. Urban loans <100,000 KES = 15%. Loans >100,000 KES = 10% |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 10.00% - 15.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | KES 100 |
| Conditions on access to deposit | Access During |
| Minimum interest rate paid | 2.00% |
| Maximum interest rate paid | 4.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Lowest quoted nominal interest | 3.00% |
| Highest quoted nominal interest | 4.00% |
| Reason(s) why interest rate varies | Branch |
| Interest rate period | 4 Weeks |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Processing Fee | Application and Pass Book Fee | |
| % of loan amount - min | 3.00% | 0 | |
| % of loan amount - max | 3.00% | 0 | |
| OR, Fixed amount - min | 0 | 2 | |
| Fixed amount - max | 0 | 4 | |
| Reason for variation | N/A | Fee varies based on geographic location of client. | |
| Appears on Repayment Sched? | No | No |
| Ins 1 | |
|---|---|
| Description | Insurance Fee |
| % of loan amount - min | 0.50% |
| % of loan amount - max | 0.50% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Includes life cover only. Do not cover clients above age 64. |
| Appears on Repayment Sched? | No |
| Required for | All |
| Criteria | GHC 1000 or less loans deposit 15% and loans > GHS 1000 deposit 20%. |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 15.00% - 20.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | KES 12,745 | KES 12,745 | KES 12,745 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-08-28 | 2013-07-04 | 2013-08-28 | ||
| Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | ||
| Grace Period (Months) | 0.5 months | 0.5 months | 0.5 months | ||
| Total Cost of Credit | KES 2,948.94 | KES 2,948.94 | KES 2,948.94 | ||
| True Price by Comp | |||||
| Interest price component | 33.6% | 33.6% | 33.6% | ||
| Fee Component | 6.4% | 6.4% | 6.4% | ||
| Insurance Component | 3.2% | 3.2% | 3.2% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 25.4% | 25.4% | 25.4% | ||
| Full APR (int fee ins tax dep) | 68.6% | 68.6% | 68.6% | ||
| Transparency Index | 31 | 31 | 31 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | GHS 300 | GHS 700 | GHS 1,350 | GHS 2,700 | GHS 6,200 | ||||
| Loan Cycle (1, 2, 3, etc) | 4 | 4 | 3 | 4 | 2 | ||||
| Disbursement Date | 2012-09-28 | 2012-08-27 | 2012-06-08 | 2012-09-28 | 2012-10-31 | ||||
| Loan Term (Months) | 6.0 months | 5.8 months | 5.6 months | 6.0 months | 5.9 months | ||||
| Grace Period (Months) | 4.1 months | 3.9 months | 3.7 months | 4.1 months | 4.0 months | ||||
| Total Cost of Credit | GHS 67.50 | GHS 153.50 | GHS 293.25 | GHS 583.50 | GHS 1,522 | ||||
| True Price by Comp | |||||||||
| Interest price component | 36.2% | 37.6% | 41.2% | 36.2% | 44.7% | ||||
| Fee Component | 9.0% | 7.9% | 8.1% | 6.9% | 7.2% | ||||
| Insurance Component | 1.1% | 1.2% | 1.3% | 1.2% | 1.3% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 8.8% | 8.8% | 14.6% | 11.7% | 14.8% | ||||
| Full APR (int fee ins tax dep) | 55.1% | 55.5% | 65.2% | 56.0% | 68.0% | ||||
| Transparency Index | 71 | 70 | 60 | 70 | 57 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
| 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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