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Institution
Data approved: 2011-12-07
Data version: 1
Age of data: - months
Key Statistics
Outstanding portfolio (GHS) | GHS 816,079 |
Portfolio (USD) | USD 544,053 |
Active Clients with Loans | 4,258 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 80% - 100% |
Methodology
Individual | |
Solidarity group | |
Village banking | |
Self help group | x |
Other | EDM group methodology |
Description
This is a loan given to individuals who form a group of 15 to 30 members. The loan is given to the individuals in the group and not the group for the individuals. The group members meet weekly for training, loan repayment and savings deposit.
Loan Purpose
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) | |
Included Services
Credit education | x |
Group meetings | x |
Credit insurance | |
Workplace visits | |
Business training | x |
Other training | x |
Other | Social training, counciling and referral services. |
Other (2) | |
No other services | |
Eligibility
Men | x |
Women | x |
Must run a business | x |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | |
Other (2) | |
Portfolio Size by Product
Geographic Coverage
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active | |
Loan Conditions
Loan Amount
Currency | GHS |
Minimum loan size | GHS 100 |
Maximum loan size | 2,500 |
Loan Term and Grace Period
Shortest loan term | 3.0 months |
Longest loan term | 9.0 months |
Approx average | 8.0 months |
Distribution at Disbursement (Est.)
Loans 3 months or less | N/A |
Between 4 and 6 months | N/A |
Between 7 and 9 months | N/A |
Between 10 and 12 months | N/A |
Between 13 and 18 months | N/A |
Longer than 18 months | N/A |
Grace Period
Grace period usage | 100% |
Average grace period | 0.5 months |
Repayment Frequency
Daily | |
Weekly | x |
Every 2 weeks | |
Every 4 weeks | |
Monthly | |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments | |
Pricing Information
Interest
Lowest quoted nominal interest | 3.00% |
Highest quoted nominal interest | 3.00% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | N/A |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
---|
Description | Loan processing 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 | |
Appears on Repayment Sched? | 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 | Never |
Criteria | N/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 deposited | N/A |
or, Fixed-amount deposited | N/A |
Deposits DURING period payments
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Interest Paid on Deposit
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Taxes
Are taxes charged on this product? | No |
Additional Comments
This is a group methodology with individual responsibility. The group is not held responsible when a member defaults . Training are delivered to them as a group.
Full Pricing Data
Onipa Nua (Each other's keepers) samples
| Sample 1 | | Sample 2 | | Sample 3 |
---|
Loan Amount | GHS 250 | | GHS 750 | | GHS 1,300 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
Disbursement Date | 2013-02-01 | | 2013-02-01 | | 2013-02-01 |
Loan Term (Months) | 5.6 months | | 5.6 months | | 7.5 months |
Grace Period (Months) | 0.0 months | | 0.0 months | | 0.0 months |
Total Cost of Credit | Not Known | | Not Known | | Not Known |
True Price by Comp | | | | | |
Interest and Fee Component | 66.3% | | 65.6% | | 65.9% |
Insurance Component | 0.0% | | 0.0% | | 0.0% |
Tax Component | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 0.0% | | 0.0% | | 0.0% |
Full APR (int fee ins tax dep) | 66.3% | | 65.6% | | 65.9% |
Transparency Index | 54 | | 55 | | 55 |
| | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF |
Onipa Nua (Each other's keepers) Price Graphs