Union of Savings and Credit Cooperatives (UCU) - Ordinary Loan - MFTransparency.org Truth In Lending Tables

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Institution

Union of Savings and Credit Cooperatives (UCU) NyarugengeNyamiramboKigaliPO Box 2998

Data approved: 2012-10-29

Data version: 2

Age of data: 148 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (RWF)	RWF 259,525,562
Portfolio (USD)	USD 432,543
Active Clients with Loans	2,738
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	0% - 20%

Methodology

Individual	x
Solidarity group	x
Village banking	x
Self help group
Other

Description

These are loans to finance either business, agriculture, etc.

Loan Purpose

Any purpose	x
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education	x
Group meetings
Credit insurance	x
Workplace visits
Business training	x
Other training
Other
Other (2)
No other services

Eligibility

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)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	10
# Regions for this product	10
Regions Active	Gakenke, Gasabo, Kicukiro, Musanze, Ngororero, Nyabihu, Nyamagabe, Nyanza, Nyarugenge, Ruhango

Loan Conditions

Loan Amount

Currency	RWF
Minimum loan size	RWF 2,000,000
Maximum loan size	5,000,000

Loan Term and Grace Period

Shortest loan term	12.0 months
Longest loan term	18.0 months
Approx average	14.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	0
Between 7 and 9 months	0
Between 10 and 12 months	0
Between 13 and 18 months	60%
Longer than 18 months	40%

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	22.80%
Highest quoted nominal interest	22.80%
Interest rate period	Yearly
Interest Rate Calculation Method	Decl Bal
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

This product has no upfront fees

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

This product has no upfront insurance fees

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	All
Criteria	N/A
Is deposit indicated on the repayment schedule?	Yes
Do borrowers control deposit in their group?	No

Deposit BEFORE or AT Disbursement

% loan amount deposited	10.00% - 15.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	0
Conditions on access to deposit	Final Pmt

Interest Paid on Deposit

Minimum interest rate paid	6.00%
Maximum interest rate paid	10.00%
Interest payment frequency	Monthly

Taxes

Are taxes charged on this product?	Yes
Percentage of fees	18%
All or some fees taxed

Additional Comments

1st cycle is 15%, remaining cycles is 10%. APR calculations have used insurance rates applicable to a 30 year old client

Full Pricing Data

Ordinary Loan samples

	Sample 1	Sample 2	Sample 3
Loan Amount	RWF 2,000,000	RWF 3,000,000	RWF 4,000,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date
Loan Term (Months)	24.0 months	24.0 months	24.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months
Total Cost of Credit	RWF 535,114	RWF 819,226.60	RWF 1,092,305.80
True Price by Comp
Interest price component	22.6%	22.7%	22.6%
Fee Component	1.0%	1.0%	1.0%
Insurance Component	0.1%	0.6%	0.6%
Tax Component	0.2%	0.3%	0.3%
Deposit Component	7.8%	4.9%	4.9%
Full APR (int fee ins tax dep)	31.7%	29.6%	29.5%
Transparency Index	0	0	0

Original Repayment Schedule	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF

Ordinary Loan Price Graphs

Loan Size/

Loan Term/

Custom

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
ABT	25,400	37,378,000	2	127
AKIBA	26,900	36,852,000	4	140
BELITA	5,800	492,000	1	140
BRAC Tanzania	102,300	19,663,000	2	140
F & K Finance	0	38,000	1	162
FINCA Tanzania	78,400	31,517,000	3	123
FMFC	1,500	392,000	6	140
K-Finance Ltd	1,000	264,000	2	140
Mbinga	1,000	2,986,000	3	140
MCBL	3,600	2,837,000	6	140
MDF Tanzania	600	148,000	1	140
NMB	45,100	74,528,000	1	140
Opportunity	8,600	3,018,000	3	140
PRIDE Tanzania	104,400	33,321,000	3	140
PTF		-	N/A	140
Selfina	8,000	3,773,000	2	162
Tujijenge Tanzania	10,000	2,060,000	4	140
VF^Tanzania	34,390	7,613,000	4	134
Victoria	100	377,000	3	162
YOSEFO	17,100	2,211,000	3	162

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

	X Axis
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	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

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