Institution Type | Bank |
Is this institution regulated? | Yes |
Website address | http://www.waseelabank.com |
Year established | 2012 |
Head of Institution | Mr. Ghazanfar Azzam |
Regions active | Islambad Capital Territory, Khyber Pakhtunkwa, Punjab, Sindh |
# Branches | 41 |
Total Portfolio (nat'l) | PKR 621,746,515 |
Total Portfolio (USD) | USD 6,105,550.78 |
Active clients with loans | 13,855 |
Approximate % female clients | 0% - 20% |
Approximate % urban clients | 0% - 20% |
Network affiliations | |
Funders | Global Telecom Holding S.A.E |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Waseela Fori Cash Loan | PKR 25,000 - 150,000 | 3 - 12 | 0% - 20% | 20% - 40% | Business, Agriculture, Livestock, Trading & Manufacturing | Women, Men, Have business | ||||||||
Waseela Khushhal Kisan Loan | PKR 20,000 - 60,000 | 3 - 12 | 0% - 20% | 0% - 20% | Business, Agriculture, Livetsock | Women, Men, Have business |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Waseela Fori Cash Loan | 27.0%-30.0% annual, Flat | 1 Fee | 0 Ins | 16.00% fees | N/A | 28% - 35.3% | 28.2% - 36.6% | 90 | ||||||||
Waseela Khushhal Kisan Loan | 29.0% annual, Flat | 1 Fee | 0 Ins | 16.00% fees | N/A | 26.9% - 32.7% | 27.1% - 33.6% | 98 |
Outstanding portfolio (RWF) | RWF 191,511,326 |
Portfolio (USD) | USD 303,986 |
Active Clients with Loans | 175 |
Approximate % Female Clients | 0% - 20% |
Approximate % Urban Clients | 60% - 80% |
Individual | x |
Solidarity group | x |
Village banking | x |
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 | |
Credit insurance | |
Workplace visits | |
Business training | x |
Other training | |
Other | |
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 | other cooperative |
Other (2) | SME's |
# Regions for this institution | 3 |
# Regions for this product | 3 |
Regions Active | Gasabo, Kicukiro, Nyarugenge |
Currency | RWF |
Minimum loan size | RWF 300,000 |
Maximum loan size | 5,000,000 |
Loans less than RWF 500,000 | 15% |
RWF 500,000-1,500,000 | 20% |
RWF 1,500,000-2,500,000 | 20% |
RWF 2,500,000-3,500,000 | 15% |
RWF 3,500,000-4,500,000 | 15% |
Greater than RWF 4,500,000 | 15% |
Shortest loan term | 1.0 month |
Longest loan term | 24.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 15% |
Between 4 and 6 months | 15% |
Between 7 and 9 months | 30% |
Between 10 and 12 months | 15% |
Between 13 and 18 months | 15% |
Longer than 18 months | 10% |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | x |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 18.00% |
Highest quoted nominal interest | 36.00% |
Reason(s) why interest rate varies | Loan Purpose |
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 | Fee 2 | ||
---|---|---|---|
Description | Commission Fee | Processing Fee | |
% of loan amount - min | 1.00% | 1.50% | |
% of loan amount - max | 1.00% | 1.50% | |
OR, Fixed amount - min | 0 | 0 | |
Fixed amount - max | 0 | 0 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | No | No |
Ins 1 | |
---|---|
Description | Insurance Fee |
% of loan amount - min | 0.02% |
% of loan amount - max | 7.94% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Depends on age of client, loan size and term. |
Appears on Repayment Sched? | No |
Required for | Some |
Criteria | If absence of other reliable guarantee |
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 | 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 | Sample 4 | Sample 5 | |||||
---|---|---|---|---|---|---|---|---|---|
Loan Amount | RWF 500,000 | RWF 1,000,000 | RWF 2,000,000 | RWF 3,000,000 | RWF 4,000,000 | ||||
Loan Cycle (1, 2, 3, etc) | 1 | 2 | 1 | 2 | 3 | ||||
Disbursement Date | 2012-09-25 | 2012-06-22 | 2012-07-24 | 2012-07-12 | 2012-09-07 | ||||
Loan Term (Months) | 12.0 months | 6.0 months | 24.0 months | 24.0 months | 24.0 months | ||||
Grace Period (Months) | 0.0 months | 0.3 months | 0.0 months | 0.0 months | 0.0 months | ||||
Total Cost of Credit | RWF 88,855 | RWF 101,360 | RWF 598,288 | RWF 897,972 | RWF 1,197,296 | ||||
True Price by Comp | |||||||||
Interest price component | 26.4% | 23.2% | 23.7% | 23.7% | 23.8% | ||||
Fee Component | 4.9% | 8.2% | 2.7% | 2.7% | 2.6% | ||||
Insurance Component | 0.5% | 0.4% | 0.5% | 0.5% | 0.6% | ||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Deposit Component | 22.7% | 20.9% | 17.9% | 18.0% | 18.1% | ||||
Full APR (int fee ins tax dep) | 54.5% | 52.7% | 44.8% | 44.9% | 45.1% | ||||
Transparency Index | 33 | 34 | 40 | 40 | 40 | ||||
Original Repayment Schedule | |||||||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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