FINCA Microfinance Bank Ltd - Maal Maweshi Karza - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 113 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Please note that the information you are viewing is 143 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

FINCA Microfinance Bank Ltd 387-E, Johar TownLahore, Punjab

Data approved: 2015-04-17

Data version: 2

Age of data: 113 months

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Institution

Amasezerano Community Bank Head OfficeKigaliPO Box 4691

Data approved: 2012-10-17

Data version: 2

Age of data: 143 months

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Product

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Product Summary

1,067
RWF 10,000 - 5,000,000
1 - 36

15.00% annual, Flat
2 fees
0.06%-10.45% upfront
18.00% fees
N/A

22.9% - 57.1%
2.1% - 24.7%
0 - 0.8%
0.5% - 4.7%
29.5% - 45.1%
16 - 53
44

Product Details

This product either has less than 50 active borrowers or less than 10 loan disbursements over the past 9 months. MFTransparency presents basic data rather than full data for low volume products

Key Statistics

Outstanding portfolio (PKR)	PKR 11,218,851
Portfolio (USD)	USD 110,169.12
Active Clients with Loans	300
Approximate % Female Clients	0
Approximate % Urban Clients	0

Description

Term Loan with repayment model of monthly equal installment

Loan Purpose

Any purpose
Income generation
Mortgage/housing
Consumer loan
Agriculture	x
Education
Other household finance
Other
Other (2)

Eligibility

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
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	3
# Regions for this product	N/A
Regions Active

Product Details

Key Statistics

Outstanding portfolio (RWF)	RWF 87,318,036
Portfolio (USD)	USD 138,600
Active Clients with Loans	1,067
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	60% - 80%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

This product is reserved for salaried people mostly of the of the private sector. The term of the loan varyies between 1 & 36 months and the maximum amount is 10 times their salary.

Loan Purpose

Any purpose	x
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education
Group meetings
Credit insurance
Workplace visits
Business training
Other training
Other
Other (2)
No other services	x

Eligibility

Men	x
Women	x
Must run a business
Must own a home or land
Must be a salaried worker	x
Must be specific age group
Other
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	2
# Regions for this product	5
Regions Active	Bugesera, Kicukiro, Nyarugenge, Rubavu, Rusizi

Loan Conditions

Loan Amount

Currency	RWF
Minimum loan size	RWF 10,000
Maximum loan size	5,000,000

Distribution at Disbursement (Est.)

Loans less than RWF 500,000	0
RWF 500,000-1,500,000	5%
RWF 1,500,000-2,500,000	15%
RWF 2,500,000-3,500,000	30%
RWF 3,500,000-4,500,000	10%
Greater than RWF 4,500,000	10%

Loan Term and Grace Period

Shortest loan term	1.0 month
Longest loan term	36.0 months
Approx average	19.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	50%
Between 4 and 6 months	10%
Between 7 and 9 months	0
Between 10 and 12 months	10%
Between 13 and 18 months	10%
Longer than 18 months	20%

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

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

Pricing Information

Interest

Lowest quoted nominal interest	15.00%
Highest quoted nominal interest	15.00%
Interest rate period	Yearly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1	Fee 2
Description	Commission Fee	Loan Application & Collateral Visit Fee
% of loan amount - min	1.50%	0
% of loan amount - max	1.50%	0
OR, Fixed amount - min	0	15,000
Fixed amount - max	0	15,000
Reason for variation	N/A	N/A
Appears on Repayment Sched?	No	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Commission on Insurance
% of loan amount - min	0.06%
% of loan amount - max	10.45%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	No

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	Never
Criteria	N/A
Is deposit indicated on the repayment schedule?	N/A
Do borrowers control deposit in their group?	N/A

Deposit BEFORE or AT Disbursement

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A

Deposits DURING period payments

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A
Conditions on access to deposit	N/A

Interest Paid on Deposit

Minimum interest rate paid	N/A
Maximum interest rate paid	N/A
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	Yes
Percentage of fees	18%
All or some fees taxed	All

Additional Comments

APR calculations have used insurance rates applicable to a 30 year old client.

Full Pricing Data

Hembwa Wage MT & LT samples

	Sample 2	Sample 3	Sample 4	Sample 5	Sample 6
Loan Amount	RWF 250,000	RWF 500,000	RWF 1,000,000	RWF 1,500,000	RWF 3,064,540
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2012-04-16	2012-05-11	2012-04-25	2012-08-22	2012-05-02
Loan Term (Months)	12.0 months	24.0 months	23.0 months	28.0 months	13.0 months
Grace Period (Months)	1.0 month	1.0 month	1.3 months	1.0 month	1.0 month
Total Cost of Credit	RWF 60,457.49	RWF 179,894.70	RWF 321,256.42	RWF 579,284.13	RWF 580,135.15
True Price by Comp
Interest price component	26.3%	26.2%	26.0%	26.1%	26.3%
Fee Component	15.1%	4.9%	3.4%	2.3%	3.6%
Insurance Component	0.6%	0.6%	0.7%	0.6%	0.5%
Tax Component	3.1%	1.0%	0.7%	0.5%	0.8%
Deposit Component	0.0%	0.0%	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	45.1%	32.7%	30.8%	29.5%	31.2%
Transparency Index	33	46	49	51	48

Original Repayment Schedule	PDF	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF	PDF

Hembwa Wage MT & LT Price Graphs

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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

	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 ∞

Institution

Institution

Product

Product

Product Summary

Product Details

Key Statistics

Description

Loan Purpose

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Additional Comments

Full Pricing Data

Hembwa Wage MT & LT samples

Hembwa Wage MT & LT Price Graphs

Total Borrowers of Samples

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