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Institution

First Allied Savings and Loans Limited Box 5308OTB 662 Asomfo Road, AdumKumasi, Ashanti
Data approved: 2013-07-15
Data version: 1
Age of data: 132 months

Product

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Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 4,395,023.82
Portfolio (USD)USD 2,230,976.56
Active Clients with Loans6,833
Approximate % Female Clients40% - 60%
Approximate % Urban Clients20% - 40%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Individual members of a group make minimum daily savings for eight weeks after which they are given loans individually. Group members make joint guarantees, with at least five members in each group.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculturex
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetingsx
Credit insurance
Workplace visits
Business trainingx
Other trainingx
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)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution6
# Regions for this product6
Regions ActiveGreater Accra Region, Central Region, Western Region, Eastern Region, Ashanti Region, Brong Ahafo Region

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 1,500
Maximum loan size10,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,0000
GHS 1,000-5,00030%
GHS 5,000-7,50050%
GHS 7,500-10,00020%
GHS 10,000-13,0000
Greater than GHS 13,0000
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term12.0 months
Approx average6.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less10%
Between 4 and 6 months30%
Between 7 and 9 months20%
Between 10 and 12 months40%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Dailyx
Weeklyx
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 interest36.00%
Highest quoted nominal interest36.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionCommitment Fee
% of loan amount - min3.00%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
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 forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited10.00% - 25.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid5.00%
Maximum interest rate paid5.00%
Interest payment frequencyQuarterly
Taxes
Are taxes charged on this product?No

Full Pricing Data

Distance Banking samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountGHS 1,800GHS 3,000GHS 5,700GHS 9,500
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-05-242013-05-232013-06-282013-07-03
Loan Term (Months)8.0 months7.0 months6.0 months6.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditGHS 486GHS 716.01GHS 1,197GHS 1,993.02
True Price by Comp       
Interest price component58.7%57.9%57.8%57.3%
Fee Component8.6%9.6%10.9%10.8%
Insurance Component0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component42.1%42.3%42.9%42.6%
Full APR (int fee ins tax dep)109.4%109.8%111.6%110.7%
Transparency Index33333233
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
Distance Banking Price Graphs


Institution # Borrowers Portfolio (US$) Products Age of Data
KBL468,300120,082,00016106
KF233,60041,416,0004105
NRSP399,90070,157,0003106
ASA230,40029,637,0003106
TMFB221,20085,449,0007106
FMFB163,54438,481,3239124
TRDP100,00013,817,0003106
PRSP75,6569,907,1763124
BRAC^P57,30011,869,0003106
SRSO51,1007,775,0003106
SSF46,0004,776,0003106
FINCA82,00043,559,0009106
JWS36,0006,545,0002106
RCDS35,5524,856,1224124
DAMEN35,1857,150,8641124
FFO22,4003,335,0003106
OLP21,4003,510,0003106
CSC17,6003,147,0001106
AMRDO13,8001,206,0005106
WMBL13,8006,105,0003106
Mojaz13,4002,415,0002106
SDF11,5001,041,0004106
POMFB8,5002,795,0004106
OPD7,500918,0002106
AGAHE7,300797,0002106
NRDP6,1841,521,9723124
GBTI6,100669,0003124
WASIL4,3001,135,0002106
Micro Options4,000768,0005106
VDO3,900489,0003124
SVDP3,900811,00013124
SRDO3,500766,0004106
OSDI2,000923,0003106
APMBL1,8001,401,0003106
BEDF1,400209,0003124
KCDO80094,0001124
Caps / Zoom options
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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