Institution

Bonzali Rural Bank KumbunguNorthern RegionPO Box 1197
Data approved: 2011-12-07
Data version: 1
Age of data: 97 months

Institution

Calvary Enterprise Development Foundation Head OfficeMamprobi, Accra, Greater AccraP.O. Box MP 2468
Data approved: 2013-03-18
Data version: 2
Age of data: 79 months

Product

Bonzali Microfinance Loan Product 2 of 4 « Prev | Next »

Product

Apprenticeship Start-up Credit Program Product 2 of 4 « Prev | Next »

Product Summary

Number borrowers8,500
Loan Amount (range)GHS 200 - 3,000
Loan Term (range)4 - 12
Other Services (text summary)Credit Educ, Group Mtgs, Business Training
Annual Interest & Method30.00% annual, Flat
Fees1.00-2.00 upfront
InsuranceNone
TaxNone
Comp Dep10.00% upfront
Range of pricing 
Interest Price ComponentN/A
Fee Component80.1% - 81.3% (Int+Fee)
Insurance Component0
Tax Component Range0
Full APR (int fee ins tax dep)96.5% - 100.8%
Transparency Index (min/max)14 - 51
Transparency Index (average)30

Product Summary

50
GHS 500 - 1,000
6 - 12
Credit Educ, Group Mtgs, Tech Asst Visits, Business Training
48.00%-54.00% annual, Decl Bal
None
None
None
N/A
 
23.8% - 49.8%
0
0
0
40.5% - 41.9%
72 - 126
100

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 2,104,100
Portfolio (USD)USD 1,068,071.07
Active Clients with Loans8,500
Approximate % Female Clients60% - 80%
Approximate % Urban Clients0% - 20%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
The Bonzali Microfinance loans have weekly, bi-weekly and monthly repayment loans. They are usually group loans using the group solidarity method.
Loan Purpose
Any purposex
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurance
Workplace visits
Business trainingx
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
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 institutionN/A
# Regions for this productN/A
Regions Active

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 15,000
Portfolio (USD)USD 7,614.21
Active Clients with Loans50
Approximate % Female Clients80% - 100%
Approximate % Urban Clients40% - 60%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
This is a youth program. The facility is for apprentices who have successfully conpleted training and want to start their own businesses.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
OtherStart-up businesses
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurance
Workplace visitsx
Business trainingx
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age groupx
OtherMust be in youth age group
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution3
# Regions for this product1
Regions ActiveGreater Accra Region

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 200
Maximum loan size3,000
Loan Term and Grace Period
Shortest loan term4.0 months
Longest loan term12.0 months
Approx average6.0 months
Grace Period
Grace period usage100%
Average grace period1.0 month
Repayment Frequency
Daily
Weeklyx
Every 2 weeksx
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 500
Maximum loan size1,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,000100%
GHS 1,000-5,0000
GHS 5,000-7,5000
GHS 7,500-10,0000
GHS 10,000-13,0000
Greater than GHS 13,0000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term12.0 months
Approx average6.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months60%
Between 7 and 9 months40%
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period1.0 month
Repayment Frequency
Daily
Weekly
Every 2 weeksx
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 interest30.00%
Highest quoted nominal interest30.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionMembership Fee
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min1
Fixed amount - max2
Reason for variationLoans above 500 GHS attract a fee of 2 cedis. Below it is 1 GHS
Appears on Repayment Sched?No
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 forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?
Do borrowers control deposit in their group?
Deposit BEFORE or AT Disbursement
% loan amount deposited10.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount depositedGHS 1 - N/A
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid6.00%
Maximum interest rate paid6.00%
Interest payment frequencyAnnually
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest48.00%
Highest quoted nominal interest54.00%
Reason(s) why interest rate variesBranch, Time as Client, Loan Size, Client Risk, Loan Purpose
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
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 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

Bonzali Microfinance Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountGHS 300GHS 800GHS 1,600GHS 2,200
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2011-03-182011-03-182011-03-182011-03-18
Loan Term (Months)3.7 months3.7 months3.7 months3.7 months
Grace Period (Months)1.0 month1.0 month1.0 month1.0 month
Total Cost of CreditNot KnownNot KnownNot KnownNot Known
True Price by Comp       
Interest and Fee Component80.6%81.3%80.6%80.1%
Insurance Component0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component20.2%17.7%16.7%16.4%
Full APR (int fee ins tax dep)100.8%99.0%97.3%96.5%
Transparency Index30303131
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF

Full Pricing Data

Apprenticeship Start-up Credit Program samples
Sample 1Sample 2Sample 3
Loan AmountGHS 700GHS 800GHS 900
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2012-12-152012-12-202012-12-15
Loan Term (Months)7.0 months7.0 months7.0 months
Grace Period (Months)0.8 months0.9 months1.1 months
Total Cost of CreditGHS 100.13GHS 113.42GHS 131.64
True Price by Comp     
Interest price component40.6%41.9%40.5%
Fee Component0.0%0.0%0.0%
Insurance Component0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%
Full APR (int fee ins tax dep)40.6%41.9%40.5%
Transparency Index100100100
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF
Bonzali Microfinance Loan Price Graphs


Apprenticeship Start-up Credit Program Price Graphs


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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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