2. FMFB
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  2. Urwego

Institution

The First MicroFinanceBank Ltd. 16th, 17th Floor, Habib Bank Ltd. Tower, Near China ChowkBlue AreaIslamabad, Federal44000
Data approved: 2013-07-25
Data version: 1
Age of data: 131 months

Institution

Urwego Opportunity Bank Plot 1230 NyarugengeAvenue de la PaixKigaliPO Box 748
Data approved: 2012-09-27
Data version: 2
Age of data: -   months 
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Product

Low Salary Employees Loan Product 7 of 9 « Prev | Next »

Product

New Solidarity Group Product 4 of 4 « Prev | Next »

Product Summary

Number borrowers2,939
Loan Amount (range)PKR 20,000 - 150,000
Loan Term (range)6 - 36
Other Services (text summary)Credit Ins
Annual Interest & Method30.0%-32.0% annual, Decl Bal
Fees400.00-1,276.00 upfront
InsuranceNone
Tax16.00% fees
Comp DepN/A
Range of pricing 
Interest Price Component4.0% - 41.0%
Fee Component0.4% - 8.6%
Insurance Component0
Tax Component Range0 - 0.9%
Full APR (int fee ins tax dep)32.2% - 33.6%
Transparency Index (min/max)0 - N/A
Transparency Index (average)N/A

Product Summary

489
RWF 250,000 - 6,000,000
4 - 24
Credit Educ, Group Mtgs, Credit Ins, Business Training
24.0% annual, Flat
1.50% upfront
0.80% upfront
18.00% fees
15.0% upfront 15.00% ongoing
 
19.8% - 51.7%
2.0% - 5.7%
0.3% - 4.5%
0.4% - 1.9%
69.5% - 74.5%
32 - 80
33

Product Details

Key Statistics
Outstanding portfolio (PKR)PKR 179,275,918
Portfolio (USD)USD 1,829,346.10
Active Clients with Loans2,939
Approximate % Female Clients0% - 20%
Approximate % Urban Clients40% - 60%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
For general purpose needs and economic activity needs of low income employees.
Loan Purpose
Any purposex
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetings
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried workerx
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution6
# Regions for this product6
Regions ActiveAzad Kashmir, Balochistan, Gilgit-Baltistan, Khyber Pakhtunkwa, Punjab, Sindh

Product Details

Key Statistics
Outstanding portfolio (RWF)RWF 484,070,000
Portfolio (USD)USD 756,359.38
Active Clients with Loans489
Approximate % Female Clients60% - 80%
Approximate % Urban Clients80% - 100%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Graduation product from Community Banking (CB) group; a client must have spent at least 5 cycles in CB; target: client with needs above CB loan amount.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loanx
Agriculture
Education
Other household financex
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visits
Business trainingx
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
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 institution22
# Regions for this productN/A
Regions Active

Loan Conditions

Loan Amount
CurrencyPKR
Minimum loan sizePKR 20,000
Maximum loan size150,000
Distribution at Disbursement (Est.)
Loans less than PKR 10,0000
PKR 10,000-25,0005%
PKR 25,000-50,00015%
PKR 50,000-75,00020%
PKR 75,000-150,00060%
Greater than PKR 150,00060%
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term36.0 months
Approx average24.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months5%
Between 7 and 9 months5%
Between 10 and 12 months20%
Between 13 and 18 months20%
Longer than 18 months50%
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyRWF
Minimum loan sizeRWF 250,000
Maximum loan size6,000,000
Distribution at Disbursement (Est.)
Loans less than RWF 500,00010%
RWF 500,000-1,500,00010%
RWF 1,500,000-2,500,00010%
RWF 2,500,000-3,500,00010%
RWF 3,500,000-4,500,00010%
Greater than RWF 4,500,00010%
Loan Term and Grace Period
Shortest loan term4.0 months
Longest loan term24.0 months
Approx averageDK
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months30%
Between 7 and 9 months0
Between 10 and 12 months50%
Between 13 and 18 months20%
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period0.2 months
Repayment Frequency
Daily
Weekly
Every 2 weeksx
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest30.00%
Highest quoted nominal interest32.00%
Reason(s) why interest rate variesLoan tenor
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
Descriptionloan processing fee
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min400
Fixed amount - max1,276
Reason for variationFee applies on different loan slabs. Insurance fee is part of processing fee
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?Yes
Percentage of fees16%
All or some fees taxedSome

Pricing Information

Interest
Lowest quoted nominal interest2.00%
Highest quoted nominal interest2.00%
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionLoan Processing Fee
% of loan amount - min1.50%
% of loan amount - max1.50%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationExcluding VAT
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionCredit Life Insurance Premium
% of loan amount - min0.80%
% of loan amount - max0.80%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationExcluding VAT
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?Yes
Do borrowers control deposit in their group?Yes
Deposit BEFORE or AT Disbursement
% loan amount deposited15.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited15.00%
or, Fixed-amount deposited0
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid5.00%
Maximum interest rate paid5.00%
Interest payment frequencyMonthly
Taxes
Are taxes charged on this product?Yes
Percentage of fees18%
All or some fees taxedAll

Full Pricing Data

Low Salary Employees Loan samples
Sample 1Sample 2Sample 3
Loan AmountPKR 30,000PKR 50,000PKR 90,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2013-08-052013-02-202013-06-11
Loan Term (Months)37.0 months24.0 months37.0 months
Grace Period (Months)0.0 months-0.1 months0.0 months
Total Cost of CreditPKR 17,515PKR 19,400PKR 51,946
True Price by Comp     
Interest price component31.7%32.8%31.7%
Fee Component1.0%0.8%0.5%
Insurance Component0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%
Full APR (int fee ins tax dep)32.7%33.6%32.2%
Transparency IndexN/AN/AN/A
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF

Full Pricing Data

New Solidarity Group samples
Sample 1Sample 2Sample 3Sample 4Sample 5
Loan AmountRWF 250,000RWF 500,000RWF 950,000RWF 1,900,000RWF 3,000,000
Loan Cycle (1, 2, 3, etc)12455
Disbursement Date2012-09-192012-09-192012-08-302012-09-062012-07-18
Loan Term (Months)6.0 months6.0 months12.0 months12.0 months6.0 months
Grace Period (Months)0.9 months0.9 months1.0 month1.0 month0.9 months
Total Cost of CreditRWF 36,660RWF 73,308RWF 253,567RWF 507,171RWF 439,534
True Price by Comp         
Interest price component39.7%39.7%40.9%41.1%39.7%
Fee Component5.4%5.4%3.0%3.0%5.4%
Insurance Component3.0%3.0%1.6%1.6%2.9%
Tax Component1.5%1.5%0.9%0.8%1.5%
Deposit Component24.9%24.9%23.1%23.4%24.9%
Full APR (int fee ins tax dep)74.5%74.5%69.5%69.9%74.4%
Transparency Index3232353432
          
Original Repayment SchedulePDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDF
Low Salary Employees Loan Price Graphs


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New Solidarity Group 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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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X Axis
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