Institution Type | Credit Union / Cooperative |
Is this institution regulated? | Yes |
Website address | http://[email protected] |
Year established | 2002 |
Head of Institution | Pascal Simbizi Manzi |
Regions active | Kicukiro |
# Branches | 0 |
Total Portfolio (nat'l) | RWF 78,400,272 |
Total Portfolio (USD) | USD 124,444.88 |
Active clients with loans | 253 |
Approximate % female clients | 60% - 80% |
Approximate % urban clients | 80% - 100% |
Network affiliations | |
Funders |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Loan | RWF 100,000 - 600,000 | 6 - 12 | 40% - 60% | 60% - 80% | Business, Housing, Consumer, Education | Women, Men | Credit Educ, Group Mtgs, Tech Asst Visits | |||||||
Individual Loan | RWF 100,000 - 1,600,000 | 1 - 24 | 40% - 60% | 80% - 100% | Business, Housing, Consumer, Education | Women, Men, Have business, Must own a guarantee | Credit Educ, Credit Ins, Tech Asst Visits, Business Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Loan | 24.00% annual, Flat | 2 Fees | 0 Ins | None | 10.00% upfront | 46.9% - 49% | 55.9% - 58.5% | 42 | ||||||||
Individual Loan | 24.00% annual, Flat | 2 Fees | 0 Ins | None | 10.00% upfront | 46.8% - 49.9% | 55.8% - 59.5% | 42 |
Outstanding portfolio (GHS) | GHS 441,908.06 |
Portfolio (USD) | USD 231,365 |
Active Clients with Loans | 1,068 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 0% - 20% |
Individual | |
Solidarity group | |
Village banking | x |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | x |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | x |
Other | Malaria prevention training |
Other (2) | |
No other services |
Men | x |
Women | x |
Must run a business | |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | Maximum amount of men permitted in group - 20%. |
Other (2) |
# Regions for this institution | 1 |
# Regions for this product | 1 |
Regions Active | Central Region |
Currency | GHS |
Minimum loan size | GHS 50 |
Maximum loan size | 2,000 |
Loans less than GHS 1,000 | 70% |
GHS 1,000-5,000 | 30% |
GHS 5,000-7,500 | 0 |
GHS 7,500-10,000 | 0 |
GHS 10,000-13,000 | 0 |
Greater than GHS 13,000 | 0 |
Shortest loan term | 3.0 months |
Longest loan term | 6.0 months |
Approx average | 4.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 100% |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 100% |
Average grace period | 0.2 months |
Daily | |
Weekly | x |
Every 2 weeks | x |
Every 4 weeks | |
Monthly | |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 45.00% |
Highest quoted nominal interest | 45.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Commitment Fee |
% of loan amount - min | 0.75% |
% of loan amount - max | 1.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Fee is 3% per annum. Varies depending on loan term. |
Appears on Repayment Sched? | No |
Fee 1 | |
---|---|
Description | Group Fee |
% of loan amount - min | 0.75% |
% of loan amount - max | 1.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Fee is 3% per annum. Varies depending on loan term. |
Appears on Repayment Sched? | No |
Ins 1 | |
---|---|
Description | Insurance Fee |
% of loan amount - min | 2.00% |
% of loan amount - max | 2.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
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 | 15.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | Access During |
Minimum interest rate paid | 3.00% |
Maximum interest rate paid | 3.00% |
Interest payment frequency | Quarterly |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | GHS 300 | GHS 600 | GHS 1,600 | ||
Loan Cycle (1, 2, 3, etc) | 6 | 6 | 6 | ||
Disbursement Date | 2012-11-08 | 2012-11-08 | 2012-12-18 | ||
Loan Term (Months) | 4.0 months | 4.0 months | 4.0 months | ||
Grace Period (Months) | 0.2 months | 0.2 months | 0.2 months | ||
Total Cost of Credit | GHS 57.90 | GHS 115.80 | GHS 308.80 | ||
True Price by Comp | |||||
Interest price component | 76.2% | 76.2% | 80.5% | ||
Fee Component | 10.2% | 10.2% | 10.8% | ||
Insurance Component | 9.4% | 9.4% | 9.9% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 28.5% | 28.5% | 32.1% | ||
Full APR (int fee ins tax dep) | 124.3% | 124.3% | 133.3% | ||
Transparency Index | 36 | 36 | 34 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
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Loan Portfolio (USD) | |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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