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Institution
Data approved: 2011-09-16
Data version: 1
Age of data: 161 months
Key Statistics
| Outstanding portfolio (RWF) | RWF 28,000,000,000 |
| Portfolio (USD) | USD 43,750,000 |
| Active Clients with Loans | 38,500 |
| Approximate % Female Clients | 0% - 20% |
| Approximate % Urban Clients | 0% - 20% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
Loan term is between 1 and 36 months, priced at 15% interest rate per annum, easy access - loan obtained in 10-15 minutes, purpose is usually consumption, school fees, medical bills, marriage, etc.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | x |
| Agriculture | |
| Education | x |
| Other household finance | x |
| Other | Medicals bills, Insurance |
| Other (2) | Marriage |
Included Services
| Credit education | x |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| 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 | Only members - soldiers, police officers, veterans |
| Other (2) | Spouses and widows of these groups |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 11 |
| # Regions for this product | 13 |
| Regions Active | Bugesera, Gasabo, Gicumbi, Huye, Karongi, Kicukiro, Muhanga, Musanze, Ngoma, Nyagatare, Nyarugenge, Rubavu, Rwamagana |
Loan Conditions
Loan Amount
| Currency | RWF |
| Minimum loan size | RWF 100,000 |
| Maximum loan size | 5,000,000 |
Distribution at Disbursement (Est.)
| Loans less than RWF 500,000 | 20% |
| RWF 500,000-1,500,000 | 20% |
| RWF 1,500,000-2,500,000 | 20% |
| RWF 2,500,000-3,500,000 | 20% |
| RWF 3,500,000-4,500,000 | 10% |
| Greater than RWF 4,500,000 | 10% |
Loan Term and Grace Period
| Shortest loan term | 3.0 months |
| Longest loan term | 36.0 months |
| Approx average | 24.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 15% |
| Between 7 and 9 months | 15% |
| Between 10 and 12 months | 15% |
| Between 13 and 18 months | 15% |
| 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 | 15.00% |
| Highest quoted nominal interest | 15.00% |
| 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
| Fee 1 | | Fee 2 |
|---|
| Description | Commission | | Loan Analysis |
| % of loan amount - min | 1.00% | | 0 |
| % of loan amount - max | 1.00% | | 0 |
| OR, Fixed amount - min | 0 | | 2,000 |
| Fixed amount - max | 0 | | 2,000 |
| Reason for variation | N/A | | N/A |
| Appears on Repayment Sched? | No | | 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 | Some |
| Criteria | Security deposit required is a factor of other collateral available & earning capacity over time. At least 30% of loan amount required as savings if no other collateral. |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 30.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | When Leaving |
Interest Paid on Deposit
| Minimum interest rate paid | 6.00% |
| Maximum interest rate paid | 6.00% |
| Interest payment frequency | Annually |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Savings during the loan term is 7% of monthly salary amount, regardless of whether member has a loan or not. All first payments made the last day of the month, between then and disbursement date borrower pays interest.
Full Pricing Data
Short Term Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
|---|
| Loan Amount | RWF 100,000 | | RWF 300,000 | | RWF 600,000 | | RWF 1,200,000 | | RWF 2,000,000 | | RWF 3,065,549 |
| Loan Cycle (1, 2, 3, etc) | 0 | | 0 | | 0 | | 0 | | 0 | | 0 |
| Disbursement Date | 2011-03-22 | | 2011-03-22 | | 2011-03-22 | | 2011-03-22 | | 2011-03-22 | | 2011-03-02 |
| Loan Term (Months) | 25.0 months | | 2.0 months | | 31.0 months | | 61.0 months | | 25.0 months | | 85.0 months |
| Grace Period (Months) | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months |
| Total Cost of Credit | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| True Price by Comp | | | | | | | | | | | |
| Interest and Fee Component | 19.0% | | 39.9% | | 16.9% | | 15.9% | | 17.0% | | 14.2% |
| Insurance Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 19.2% | | 17.6% | | 16.3% | | 12.8% | | 17.0% | | 10.5% |
| Full APR (int fee ins tax dep) | 38.1% | | 57.5% | | 33.2% | | 28.8% | | 34.0% | | 24.7% |
| Transparency Index | 39 | | 26 | | 45 | | 52 | | 44 | | 61 |
| | | | | | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
Short Term Loan Price Graphs
