| Number borrowers | 187 |
| Loan Amount (range) | RWF 100,000 - 10,000,000 |
| Loan Term (range) | 4 - 36 |
| Other Services (text summary) | |
| Annual Interest & Method | 15.00%-60.00% annual, Flat |
| Fees | 2 fees |
| Insurance | 0.12%-10.45% upfront |
| Tax | 18.00% fees |
| Comp Dep | 20.00% upfront |
| Range of pricing | |
| Interest Price Component | 22.9% - 57.1% |
| Fee Component | 2.1% - 24.7% |
| Insurance Component | 0 - 0.8% |
| Tax Component Range | 0.5% - 4.7% |
| Full APR (int fee ins tax dep) | 43.3% - 96.6% |
| Transparency Index (min/max) | 16 - 53 |
| Transparency Index (average) | 24 |
| 717 |
| PHP 1,000 - 60,000 |
| 1 - 12 |
| Credit Educ, Credit Ins, Tech Asst Visits, Business Training, Other Training, Social Services, Spiritual formation (Bible study), Environmental projects - maintenance of forest park, tree planting, waste management, skills trainin |
| 24.0%-36.0% annual, Flat |
| 1.70%-2.00% upfront 1.70%-2.00% upfront |
| 100.00 upfront 0.50%-1.00% upfront |
| None |
| 2.0% upfront 100.00 ongoing |
| N/A |
| 48.1% - 95.4% (Int+Fee) |
| 9.1% - 103.0% |
| 0 |
| 88.9% - 175.8% |
| 14 - 27 |
| 21 |
| Outstanding portfolio (RWF) | RWF 212,882,269 |
| Portfolio (USD) | USD 337,908 |
| Active Clients with Loans | 187 |
| Approximate % Female Clients | 0% - 20% |
| Approximate % Urban Clients | 80% - 100% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | x |
| Men | x |
| Women | |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | 2 |
| # Regions for this product | 5 |
| Regions Active | Bugesera, Kicukiro, Nyarugenge, Rubavu, Rusizi |
| Outstanding portfolio (PHP) | PHP 7,000,000 |
| Portfolio (USD) | USD 167,464.11 |
| Active Clients with Loans | 717 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | x |
| Solidarity group | x |
| Village banking | |
| 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 | x |
| Workplace visits | x |
| Business training | x |
| Other training | x |
| Other | Social Services, Spiritual formation (Bible study) |
| Other (2) | Environmental projects - maintenance of forest park, tree planting, waste management, skills trainin |
| 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 | Has no history of loan delinquency |
| Other (2) |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | RWF |
| Minimum loan size | RWF 100,000 |
| Maximum loan size | 10,000,000 |
| Loans less than RWF 500,000 | 10% |
| RWF 500,000-1,500,000 | 10% |
| RWF 1,500,000-2,500,000 | 10% |
| RWF 2,500,000-3,500,000 | 10% |
| RWF 3,500,000-4,500,000 | 10% |
| Greater than RWF 4,500,000 | 10% |
| Shortest loan term | 4.0 months |
| Longest loan term | 36.0 months |
| Approx average | 18.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 5% |
| Between 7 and 9 months | 5% |
| Between 10 and 12 months | 50% |
| Between 13 and 18 months | 30% |
| 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 | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | x |
| Irregular payments |
| Currency | PHP |
| Minimum loan size | PHP 1,000 |
| Maximum loan size | 60,000 |
| Shortest loan term | 1.0 month |
| Longest loan term | 12.0 months |
| Approx average | 3.0 months |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | x |
| Weekly | x |
| 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 | 15.00% |
| Highest quoted nominal interest | 60.00% |
| Reason(s) why interest rate varies | 15% flat for LT (> 4months). 54% flat for monthly ST (< 3 months). 60% flat for single-end ST (< 3months). |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| 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 | VAT Excluded | LA=10,000RWF, CV=5,000RWF | |
| Appears on Repayment Sched? | No | No |
| Ins 1 | |
|---|---|
| Description | Commission on Insurance |
| % of loan amount - min | 0.12% |
| % of loan amount - max | 10.45% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Varies according to client age & loan duration |
| Appears on Repayment Sched? | No |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 20.00% |
| 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? | Yes |
| Percentage of fees | 18% |
| All or some fees taxed | All |
| Lowest quoted nominal interest | 2.00% |
| Highest quoted nominal interest | 3.00% |
| Reason(s) why interest rate varies | Loan Size, Client Risk, Collateral, Loan Purpose, < 2000 - 2% 200001 - 350000 - 2.5% 35001 - 60,000 - 3% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Service Charge | Organizational Devt. Fund (ODF) | |
| % of loan amount - min | 1.70% | 1.70% | |
| % of loan amount - max | 2.00% | 2.00% | |
| 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 | Ins 2 | ||
|---|---|---|---|
| Description | Pension Plan (per month) | Loan Insurance | |
| % of loan amount - min | 0 | 0.50% | |
| % of loan amount - max | 0 | 1.00% | |
| OR, Fixed amount - min | 100 | 0 | |
| Fixed amount - max | 100 | 0 | |
| Reason for variation | N/A | N/A | |
| Appears on Repayment Sched? | No | No |
| Required for | Some |
| Criteria | If loan is payable within 1 month, no retention fund detection |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? |
| % loan amount deposited | 2.00% - N/A |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | PHP 100 - N/A |
| Conditions on access to deposit | When Leaving |
| Minimum interest rate paid | 6.00% |
| Maximum interest rate paid | 6.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | RWF 300,000 | RWF 500,000 | RWF 500,000 | RWF 1,000,000 | RWF 2,000,000 | RWF 3,000,000 | |||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
| Disbursement Date | 2012-06-20 | 2012-10-11 | 2012-05-31 | 2012-04-30 | 2012-03-30 | 2012-06-13 | |||||
| Loan Term (Months) | 12.0 months | 3.1 months | 7.0 months | 12.0 months | 18.0 months | 24.0 months | |||||
| Grace Period (Months) | 1.0 month | 3.1 months | 1.0 month | 1.0 month | 1.0 month | 0.0 months | |||||
| Total Cost of Credit | RWF 69,008.99 | RWF 102,548.87 | RWF 71,798.60 | RWF 188,729.96 | RWF 504,749.64 | RWF 990,868.26 | |||||
| True Price by Comp | |||||||||||
| Interest price component | 26.3% | 55.5% | 25.1% | 26.2% | 26.3% | 26.3% | |||||
| Fee Component | 13.1% | 18.3% | 14.1% | 5.9% | 2.4% | 2.1% | |||||
| Insurance Component | 0.5% | 0.7% | 0.8% | 0.6% | 0.8% | 0.6% | |||||
| Tax Component | 2.6% | 3.5% | 2.8% | 1.1% | 0.6% | 0.5% | |||||
| Deposit Component | 21.9% | 18.6% | 21.4% | 17.2% | 14.6% | 13.8% | |||||
| Full APR (int fee ins tax dep) | 64.4% | 96.6% | 64.2% | 51.0% | 44.7% | 43.3% | |||||
| Transparency Index | 23 | 16 | 23 | 29 | 34 | 35 | |||||
| Original Repayment Schedule | |||||||||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | PHP 3,000 | PHP 8,000 | PHP 15,000 | PHP 30,000 | PHP 60,000 | ||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
| Disbursement Date | 2011-08-16 | 2011-07-18 | 2011-07-08 | 2011-07-28 | 2011-07-08 | ||||
| Loan Term (Months) | 3.0 months | 8.0 months | 3.3 months | 3.3 months | 3.3 months | ||||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | ||||
| Total Cost of Credit | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
| True Price by Comp | |||||||||
| Interest and Fee Component | 57.9% | 48.1% | 66.6% | 95.4% | 76.1% | ||||
| Insurance Component | 103.0% | 52.9% | 24.2% | 15.7% | 9.1% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 14.9% | 13.4% | 4.9% | 5.4% | 3.7% | ||||
| Full APR (int fee ins tax dep) | 175.8% | 114.4% | 95.7% | 116.6% | 88.9% | ||||
| Transparency Index | 14 | 21 | 25 | 21 | 27 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
|---|---|---|---|---|---|---|---|
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