| 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 (TZS) | TZS 387,620,453 |
| Portfolio (USD) | USD 243,786.45 |
| Active Clients with Loans | 271 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 0% - 20% |
| 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 | x |
| Other training | |
| Other | |
| 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 | |
| Other (2) |
| # Regions for this institution | 1 |
| # Regions for this product | 1 |
| Regions Active | Kilimanjaro |
| Currency | TZS |
| Minimum loan size | TZS 500,000 |
| Maximum loan size | 5,000,000 |
| Loans less than TZS 350,000 | 0 |
| TZS 350,000-1,250,000 | 20% |
| TZS 1,250,000-2,000,000 | 20% |
| TZS 2,000,000-3,000,000 | 20% |
| TZS 3,000,000-4,000,000 | 20% |
| Greater than TZS 4,000,000 | 20% |
| Shortest loan term | 12.0 months |
| Longest loan term | 12.0 months |
| Approx average | 12.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 100% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 3.0 months |
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | x |
| Every 6 months | x |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 2.50% |
| Highest quoted nominal interest | 2.50% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Loan Facility / Set Up 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 |
| Ins 1 | |
|---|---|
| Description | Credit Life Assurance |
| % of loan amount - min | 0.65% |
| % of loan amount - max | 0.65% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Required for | Some |
| Criteria | For those withought frequent deposits |
| 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 | End Term |
| Minimum interest rate paid | 5.00% |
| Maximum interest rate paid | 5.00% |
| Interest payment frequency | Monthly |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 4 | |||
|---|---|---|---|---|---|
| Loan Amount | TZS 700,000 | TZS 1,000,000 | TZS 3,000,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-01-11 | 2013-01-22 | 2013-01-15 | ||
| Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | ||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | TZS 186,550 | TZS 266,500 | TZS 799,500 | ||
| True Price by Comp | |||||
| Interest price component | 29.1% | 29.1% | 29.1% | ||
| Fee Component | 2.8% | 2.8% | 2.8% | ||
| Insurance Component | 0.9% | 0.9% | 0.9% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 7.3% | 7.3% | 7.3% | ||
| Full APR (int fee ins tax dep) | 40.1% | 40.1% | 40.1% | ||
| Transparency Index | 75 | 75 | 75 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
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| 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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