Kumanwuman Rural Bank Limited - Salary Loan - MFTransparency.org Truth In Lending Tables

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Institution

Kumanwuman Rural Bank Limited P.O.Box 33Kumawu-AshantiKumasi, Ashanti233

Data approved: 2011-12-07

Data version: 1

Age of data: - months

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Product

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Product Details

Key Statistics

Outstanding portfolio (GHS)	GHS 1,816,000
Portfolio (USD)	USD 1,210,667
Active Clients with Loans	1,233
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	60% - 80%

Methodology

Individual
Solidarity group
Village banking
Self help group	x
Other

Description

These loans are given to workers who take their monthly salry from this bank.Employers have to endorse approval with assurance that salry will pass through the bank monthly\r

Loan Purpose

Any purpose	x
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education	x
Group meetings	x
Credit insurance	x
Workplace visits
Business training
Other training	x
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	x
Must be specific age group
Other
Other (2)

# Borrowers by Product

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	6,000

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	18.0 months
Approx average	12.0 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	6.0 months

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	x
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	30.00%
Highest quoted nominal interest	30.00%
Interest rate period	Yearly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	N/A
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Commitment Fee
% of loan amount - min	3.00%
% of loan amount - max	3.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

This product has no upfront insurance fees

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?	Yes

Deposit BEFORE or AT Disbursement

% loan amount deposited	10.00% - 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	5.00%
Maximum interest rate paid	5.00%
Interest payment frequency	Annually

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Salary Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5
Loan Amount	GHS 400	GHS 900	GHS 1,500	GHS 3,500	GHS 6,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2013-03-21	2013-03-12	2013-03-11	2013-04-12	2013-04-12
Loan Term (Months)	6.0 months	12.0 months	12.0 months	16.0 months	16.0 months
Grace Period (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
True Price by Comp
Interest and Fee Component	56.6%	53.6%	53.7%	38.8%	40.7%
Insurance Component	0.0%	0.0%	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	10.0%	9.5%	9.5%	6.9%	7.6%
Full APR (int fee ins tax dep)	66.6%	63.2%	63.3%	45.6%	48.3%
Transparency Index	45	48	47	66	62

Original Repayment Schedule	PDF	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF	PDF

Salary Loan Price Graphs

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
KBL	468,300	120,082,000	16	108
KF	233,600	41,416,000	4	107
NRSP	399,900	70,157,000	3	108
ASA	230,400	29,637,000	3	108
TMFB	221,200	85,449,000	7	108
FMFB	163,544	38,481,323	9	126
TRDP	100,000	13,817,000	3	108
PRSP	75,656	9,907,176	3	126
BRAC^P	57,300	11,869,000	3	108
SRSO	51,100	7,775,000	3	108
SSF	46,000	4,776,000	3	108
FINCA	82,000	43,559,000	9	108
JWS	36,000	6,545,000	2	108
RCDS	35,552	4,856,122	4	126
DAMEN	35,185	7,150,864	1	126
FFO	22,400	3,335,000	3	108
OLP	21,400	3,510,000	3	108
CSC	17,600	3,147,000	1	108
AMRDO	13,800	1,206,000	5	108
WMBL	13,800	6,105,000	3	108
Mojaz	13,400	2,415,000	2	108
SDF	11,500	1,041,000	4	108
POMFB	8,500	2,795,000	4	108
OPD	7,500	918,000	2	108
AGAHE	7,300	797,000	2	108
NRDP	6,184	1,521,972	3	126
GBTI	6,100	669,000	3	126
WASIL	4,300	1,135,000	2	108
Micro Options	4,000	768,000	5	108
VDO	3,900	489,000	3	126
SVDP	3,900	811,000	13	126
SRDO	3,500	766,000	4	108
OSDI	2,000	923,000	3	108
APMBL	1,800	1,401,000	3	108
BEDF	1,400	209,000	3	126
KCDO	800	94,000	1	126

Key Statistics
# Samples:
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# 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

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