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Institution
Data approved: 2012-10-17
Data version: 2
Age of data: 144 months
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) | |
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 feesUpfront 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
