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Institution
Data approved: 2011-12-07
Data version: 1
Age of data: - months
Key Statistics
Outstanding portfolio (GHS) | GHS 156,256 |
Portfolio (USD) | USD 104,171 |
Active Clients with Loans | 165 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 60% - 80% |
Methodology
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other | |
Description
A LOAN BORROWED AGAINST A SUSU DEPOSIT. THIS PRODUCT IS SUITABLE FOR MICRO OPERATIONS BY CLIENTS WHO ARE COMFORTABLE WITH MAKING DAILY SAVINGS WITH THE OPTIONS OF HAVING MONEY COLLECTED FROM THEIR PREMISES OR MAKING PAYMENTS IN THE BRANCH.
Loan Purpose
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | x |
Other household finance | x |
Other | Trading |
Other (2) | Increase Working Capital |
Included Services
Credit education | x |
Group meetings | |
Credit insurance | |
Workplace visits | x |
Business training | x |
Other training | x |
Other | Book Keeping |
Other (2) | Sales Book |
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 | x |
Other | MUST CONTRIBUTE ON A DAILY BASIS, MUST HAVE A GUARANTOR |
Other (2) | MUST BE WORKING FOR THE PAST THREE OR TWO YEARS |
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 200 |
Maximum loan size | 1,500 |
Loan Term and Grace Period
Shortest loan term | 3.0 months |
Longest loan term | 8.0 months |
Approx average | 6.0 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 | 0 |
Average grace period | 0 |
Repayment Frequency
Daily | x |
Weekly | x |
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 | 5.00% |
Highest quoted nominal interest | 7.00% |
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 | | Fee 2 |
---|
Description | Processing Fee | | Commitment Fee |
% of loan amount - min | 3.00% | | 2.00% |
% of loan amount - max | 3.00% | | 2.00% |
OR, Fixed amount - min | 0 | | 0 |
Fixed amount - max | 0 | | 0 |
Reason for variation | | | |
Appears on Repayment Sched? | No | | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
---|
Description | Insurance Fee |
% of loan amount - min | 1.00% |
% of loan amount - max | 1.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | |
Appears on Repayment Sched? | No |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | |
Do borrowers control deposit in their group? | |
Deposit BEFORE or AT Disbursement
% loan amount deposited | 30.00% - N/A |
or, Fixed-amount deposited | 0 - N/A |
Deposits DURING period payments
% loan amount deposited | 0 - N/A |
or, Fixed-amount deposited | 0 - N/A |
Conditions on access to deposit | End Term |
Interest Paid on Deposit
Minimum interest rate paid | 2.00% |
Maximum interest rate paid | 8.00% |
Interest payment frequency | Annually |
Taxes
Are taxes charged on this product? | No |
Additional Comments
This interest is from Bank of Ghana and can range from 2% to 8% annually\r
Full Pricing Data
Susu Loan samples
| Sample 1 | | Sample 2 | | Sample 3 |
---|
Loan Amount | GHS 250 | | GHS 800 | | GHS 1,500 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
Disbursement Date | 2012-10-24 | | 2013-01-07 | | 2012-11-23 |
Loan Term (Months) | 3.0 months | | 4.0 months | | 4.0 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 | 157.0% | | 157.7% | | 138.9% |
Insurance Component | 7.5% | | 6.2% | | 6.0% |
Tax Component | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 118.2% | | 123.7% | | 111.6% |
Full APR (int fee ins tax dep) | 282.7% | | 287.6% | | 256.4% |
Transparency Index | 21 | | 21 | | 23 |
| | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF |