2. Urwego
  2. FINCA Zambia
Please note that the information you are viewing is 123 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Urwego Opportunity Bank Plot 1230 NyarugengeAvenue de la PaixKigaliPO Box 748
Data approved: 1900-01-00
Data version: 3
Age of data: -   months 
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Institution

Foundation for International Community Assistance (FINCA) Stand No. 4513 Madzimoyo Road, NorthmeadLusaka, Lusaka Province
Data approved: 2014-10-20
Data version: 2
Age of data: 123 months
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  • No previous version for this product.

Product

Micro Consumer Loans Product 6 of 6 « Prev | Next »

Product

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Product Summary

Number borrowers255
Loan Amount (range)RWF 50,000 - 5,000,000
Loan Term (range)3 - 36
Other Services (text summary)
Annual Interest & Method18.0%-20.0% annual, Decl Bal
Feesupfront
InsuranceNone
TaxNone
Comp DepN/A
Range of pricing 
Interest Price Component18.3% - 49.1%
Fee Component1.5% - 8.1%
Insurance Component0 - 1.1%
Tax Component Range0 - 1.6%
Full APR (int fee ins tax dep)22.1% - 25.9%
Transparency Index (min/max)30 - 81
Transparency Index (average)75

Product Summary

12,425
ZMW 1,200 - 15,000
6 - 12
Group Mtgs, Credit Ins
52.0% annual, Decl Bal
7.96%-8.00% upfront 25.00 upfront
1.00% upfront
None
N/A
 
50.6% - 50.9%
15.8% - 40.3%
1.7% - 4.2%
0
72.6% - 95.2%
54 - 75
63

Product Details

Key Statistics
Outstanding portfolio (RWF)RWF 87,601,095
Portfolio (USD)USD 136,876.71
Active Clients with Loans255
Approximate % Female Clients20% - 40%
Approximate % Urban Clients20% - 40%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
These loans are offered to salaried workers, college students and household finance.
Loan Purpose
Any purpose
Income generation
Mortgage/housing
Consumer loanx
Agriculture
Educationx
Other household financex
Other
Other (2)
Included Services
Credit education
Group meetings
Credit insurance
Workplace visits
Business training
Other training
Other
Other (2)
No other servicesx
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried workerx
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution30
# Regions for this product4
Regions ActiveGasabo, Kicukiro, Musanze, Nyarugenge

Product Details

Key Statistics
Outstanding portfolio (ZMW)ZMW 22,650,672
Portfolio (USD)USD 3,537,581.12
Active Clients with Loans12,425
Approximate % Female Clients60% - 80%
Approximate % Urban Clients60% - 80%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Small group loans is a loan product smaller than Village Banking. It comprises of 5 to 10 members. The group is formed by 5 to 10 enterpreneurs who know and trust each other.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetingsx
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)Must be a member of a self selected solidarity group
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution5
# Regions for this product5
Regions ActiveCentral Province, Copperbelt Province, Eastern Province, Northern Province, Southern Province

Loan Conditions

Loan Amount
CurrencyRWF
Minimum loan sizeRWF 50,000
Maximum loan size5,000,000
Distribution at Disbursement (Est.)
Loans less than RWF 500,00080%
RWF 500,000-1,500,00010%
RWF 1,500,000-2,500,0000
RWF 2,500,000-3,500,0005%
RWF 3,500,000-4,500,0000
Greater than RWF 4,500,0000
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term36.0 months
Approx averageDK
Distribution at Disbursement (Est.)
Loans 3 months or less10%
Between 4 and 6 months5%
Between 7 and 9 months0
Between 10 and 12 months30%
Between 13 and 18 months5%
Longer than 18 months50%
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyZMW
Minimum loan sizeZMW 1,200
Maximum loan size15,000
Distribution at Disbursement (Est.)
Loans less than ZMW 5000
ZMW 500-2,00040%
ZMW 2,000-3,25020%
ZMW 3,250-4,50015%
ZMW 4,500-6,00010%
Greater than ZMW 6,00010%
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term12.0 months
Approx average9.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months50%
Between 7 and 9 months40%
Between 10 and 12 months10%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest18.00%
Highest quoted nominal interest20.00%
Reason(s) why interest rate variesLoan Purpose
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionLoan processing fees
% of loan amount - min0
% of loan amount - max2.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationExcluding VAT
Appears on Repayment Sched?Yes
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 forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest4.33%
Highest quoted nominal interest4.33%
Interest rate periodMonthly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionArrangement and Deposit FeeAsset Inspection Fee
% of loan amount - min7.96%0
% of loan amount - max8.00%0
OR, Fixed amount - min025
Fixed amount - max025
Reason for variation1.96% to 2% paid for Arrangement fee and 6% for Deposit fee. Arrangement fee varies depending on the number of group members.N/A
Appears on Repayment Sched?YesYes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionCredit Life Insurance
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Full Pricing Data

Micro Consumer Loans samples
Sample 1Sample 2
Loan AmountRWF 420,000RWF 100,000
Loan Cycle (1, 2, 3, etc)Not KnownNot Known
Disbursement Date2014-08-042014-08-26
Loan Term (Months)12.0 months7.0 months
Grace Period (Months)0.0 months0.0 months
Total Cost of CreditRWF 51,468RWF 8,777
True Price by Comp   
Interest price component18.3%19.8%
Fee Component3.8%6.1%
Insurance Component0.0%0.0%
Tax Component0.0%0.0%
Deposit Component0.0%0.0%
Full APR (int fee ins tax dep)22.1%25.9%
Transparency Index8169
    
Original Repayment SchedulePDFPDF
MFT Pricing CalculationPDFPDF

Full Pricing Data

Small Group Loan samples
Loan Amount
Type of Sample
Disbursement Date
Loan Term (Months)
Grace Period (Months)
Total Cost of Credit
Full APR (int fee ins tax dep)
True Price by Component
Transparency Index
Original Repayment Schedule
MFT Pricing Calculation
Interest price component
Fee Component
Insurance Component
Tax Component
Deposit Component
ZMW 1,020 Generated 2014-11-01 6.0 months 0.0 months ZMW 275.80 95.2% 50.9% 40.1% 4.2% 0.0% 0.0% 55 - PDF
ZMW 1,800 Generated 2014-11-01 9.1 months 0.0 months ZMW 596.35 79.5% 50.9% 25.6% 3.0% 0.0% 0.0% 65 - PDF
ZMW 2,400 Generated 2014-11-01 12.2 months 0.0 months ZMW 965.91 72.6% 50.9% 19.4% 2.3% 0.0% 0.0% 72 - PDF
ZMW 3,500 Generated 2014-11-01 6.0 months 0.0 months ZMW 885.57 88.0% 50.9% 33.0% 4.1% 0.0% 0.0% 59 - PDF
ZMW 4,000 Generated 2014-11-01 9.1 months 0.0 months ZMW 1,294.67 77.2% 50.9% 23.4% 2.9% 0.0% 0.0% 67 - PDF
ZMW 5,100 Generated 2014-11-01 6.0 months 0.0 months ZMW 1,278.98 87.1% 50.9% 32.1% 4.1% 0.0% 0.0% 60 - PDF
ZMW 6,000 Generated 2014-11-01 9.1 months 0.0 months ZMW 1,929.51 76.6% 50.9% 22.8% 2.9% 0.0% 0.0% 68 - PDF
ZMW 7,000 Generated 2014-11-01 6.0 months 0.0 months ZMW 1,746.15 86.5% 50.9% 31.6% 4.0% 0.0% 0.0% 60 - PDF
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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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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