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Institution
Data approved: 2011-12-07
Data version: 1
Age of data: 157 months
Key Statistics
| Outstanding portfolio (GHS) | GHS 642,800 |
| Portfolio (USD) | USD 326,294.42 |
| Active Clients with Loans | 1,236 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 80% - 100% |
Methodology
| Individual | x |
| Solidarity group | x |
| Village banking | x |
| Self help group | |
| Other | varies from 10 to 64 in a group |
Description
This loan product is the very first commercial loan product in this organization. It is mainly for women clients.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | Agricultural produce marketing |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | x |
| Business training | x |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| Men | |
| 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) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active | |
Loan Conditions
Loan Amount
| Currency | GHS |
| Minimum loan size | GHS 150 |
| Maximum loan size | GHS 500 |
Loan Term and Grace Period
| Shortest loan term | 6.0 months |
| Longest loan term | 6.0 months |
| Approx average | 6.0 months |
Grace Period
| Grace period usage | 100% |
| Average grace period | 1.0 month |
Repayment Frequency
| Daily | |
| Weekly | x |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 40.00% |
| Highest quoted nominal interest | 40.00% |
| 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 |
|---|
| Description | Affiliation Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 1 |
| Fixed amount - max | 6 |
| Reason for variation | |
| Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? | |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
Interest Paid on Deposit
| Minimum interest rate paid | 20.00% |
| Maximum interest rate paid | 20.00% |
| Interest payment frequency | Annually |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Interest paid on deposit is given only if there has been no withdrawal to pay any loan.\r
Full Pricing Data
Sika Rose Loan samples
| Sample 1 | | Sample 2 | | Sample 3 |
|---|
| Loan Amount | GHS 250 | | GHS 300 | | GHS 300 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2010-06-09 | | 2010-06-09 | | 2011-06-09 |
| Loan Term (Months) | 5.1 months | | 5.1 months | | 5.1 months |
| Grace Period (Months) | 0.0 months | | 0.0 months | | 0.0 months |
| Total Cost of Credit | Not Known | | Not Known | | Not Known |
| True Price by Comp | | | | | |
| Interest and Fee Component | 46.8% | | 59.5% | | 58.2% |
| Insurance Component | 0.0% | | 0.0% | | 0.0% |
| Tax Component | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 6.2% | | 7.6% | | 7.2% |
| Full APR (int fee ins tax dep) | 53.0% | | 67.1% | | 65.4% |
| Transparency Index | 75 | | 60 | | 61 |
| | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF |
Sika Rose Loan Price Graphs
