Number borrowers | 157 |
Loan Amount (range) | KES 5,000 - 150,000 |
Loan Term (range) | 6 - 18 |
Other Services (text summary) | Credit Educ, Group Mtgs, Business Training, Other Training, Leadership Training |
Annual Interest & Method | 21.0% 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) | 51.3% - 81.5% |
Transparency Index (min/max) | 24 - 56 |
Transparency Index (average) | 35 |
245 |
GHS 500 - 3,000 |
24 |
Credit Educ |
24.0%-37.0% annual, Decl Bal |
3.50% upfront |
1.00% upfront |
None |
N/A |
33.9% - 69.6% |
2.9% - 24.0% |
0.5% - 4.4% |
0 |
42.5% - 78.0% |
31 - 88 |
37 |
Outstanding portfolio (KES) | KES 3,382,653.16 |
Portfolio (USD) | USD 40,853.30 |
Active Clients with Loans | 157 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 20% - 40% |
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | |
Mortgage/housing | x |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
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 336,888 |
Portfolio (USD) | USD 171,009.14 |
Active Clients with Loans | 245 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 80% - 100% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | x |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | |
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 | 6 |
# Regions for this product | 4 |
Regions Active | Greater Accra Region, Central Region, Western Region, Ashanti Region |
Currency | KES |
Minimum loan size | KES 5,000 |
Maximum loan size | 150,000 |
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 | 6.0 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 | 10% |
Between 10 and 12 months | 10% |
Between 13 and 18 months | 80% |
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 500 |
Maximum loan size | 3,000 |
Loans less than GHS 1,000 | 60% |
GHS 1,000-5,000 | 40% |
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 | 24.0 months |
Longest loan term | 24.0 months |
Approx average | 24.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 100% |
Grace period usage | 100% |
Average grace period | 12.0 months |
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 | 21.00% |
Highest quoted nominal interest | 21.00% |
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 | 24.00% |
Highest quoted nominal interest | 37.00% |
Reason(s) why interest rate varies | Lower interest rate for loans taken by students. Higher interest rate for loans taken by parents to pay for their child's education. |
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 | 3.50% |
% of loan amount - max | 3.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Loan Insurance |
% 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? | 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? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | KES 10,000 | KES 30,000 | KES 50,000 | KES 100,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2013-06-03 | 2013-04-11 | 2013-04-10 | 2013-04-23 | |||
Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | 17.0 months | |||
Grace Period (Months) | 0.5 months | 0.5 months | 0.5 months | 0.5 months | |||
Total Cost of Credit | KES 2,650 | KES 7,150 | KES 11,750 | KES 34,000 | |||
True Price by Comp | |||||||
Interest price component | 37.8% | 37.8% | 37.8% | 38.2% | |||
Fee Component | 8.4% | 2.7% | 2.1% | 1.4% | |||
Insurance Component | 3.2% | 3.2% | 3.1% | 2.3% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 32.1% | 18.3% | 10.4% | 9.4% | |||
Full APR (int fee ins tax dep) | 81.5% | 62.0% | 53.4% | 51.3% | |||
Transparency Index | 26 | 34 | 39 | 41 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | GHS 610 | GHS 1,500 | GHS 2,915.16 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2013-01-21 | 2012-10-15 | 2012-11-13 | ||
Loan Term (Months) | 5.9 months | 12.0 months | 37.0 months | ||
Grace Period (Months) | -0.1 months | 0.0 months | 0.0 months | ||
Total Cost of Credit | GHS 138.39 | GHS 622.50 | GHS 2,222.42 | ||
True Price by Comp | |||||
Interest price component | 60.8% | 60.9% | 38.7% | ||
Fee Component | 13.3% | 7.2% | 2.9% | ||
Insurance Component | 3.9% | 2.2% | 0.9% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 0.0% | 0.0% | 0.0% | ||
Full APR (int fee ins tax dep) | 78.0% | 70.3% | 42.5% | ||
Transparency Index | 31 | 34 | 57 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Key Statistics | |
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# 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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