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Institution
Data approved: 2013-03-12
Data version: 2
Age of data: 138 months
Key Statistics
Outstanding portfolio (GHS) | GHS 476,439 |
Portfolio (USD) | USD 241,847.21 |
Active Clients with Loans | 53 |
Approximate % Female Clients | 0 |
Approximate % Urban Clients | 60% - 80% |
Methodology
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other | Institutional loan |
Description
Church loan is designed for Chuches for their development activities. Collateral is not required.
Loan Purpose
Any purpose | |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | Financing church building |
Other (2) | |
Included Services
Credit education | x |
Group meetings | |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | |
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 | |
Must be specific age group | |
Other | Fully registered functioning church |
Other (2) | |
Portfolio Size by Product
Geographic Coverage
# Regions for this institution | 6 |
# Regions for this product | 6 |
Regions Active | Greater Accra Region, Central Region, Western Region, Eastern Region, Ashanti Region, Brong Ahafo Region |
Loan Conditions
Loan Amount
Currency | GHS |
Minimum loan size | GHS 5,000 |
Maximum loan size | 100,000 |
Distribution at Disbursement (Est.)
Loans less than GHS 1,000 | 0 |
GHS 1,000-5,000 | 0 |
GHS 5,000-7,500 | 20% |
GHS 7,500-10,000 | 20% |
GHS 10,000-13,000 | 20% |
Greater than GHS 13,000 | 20% |
Loan Term and Grace Period
Shortest loan term | 3.0 months |
Longest loan term | 37.0 months |
Approx average | 20.0 months |
Distribution at Disbursement (Est.)
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 70% |
Between 13 and 18 months | 0 |
Longer than 18 months | 30% |
Grace Period
Grace period usage | 100% |
Average grace period | 1.0 month |
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 | |
Irregular payments | |
Pricing Information
Interest
Lowest quoted nominal interest | 39.00% |
Highest quoted nominal interest | 39.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 | | Fee 2 |
---|
Description | Processing Fee | | Application Fee |
% of loan amount - min | 3.50% | | 0 |
% of loan amount - max | 3.50% | | 0 |
OR, Fixed amount - min | 0 | | 3 |
Fixed amount - max | 0 | | 3 |
Reason for variation | N/A | | N/A |
Appears on Repayment Sched? | No | | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing 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 | 1% of total loan amount, divided and charged equally throughout loan term. |
Appears on Repayment Sched? | Yes |
Compulsory Deposit
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
Deposit BEFORE or AT Disbursement
% loan amount deposited | 15.00% |
or, Fixed-amount deposited | 0 |
Deposits DURING period payments
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | Final Pmt |
Interest Paid on Deposit
Minimum interest rate paid | 0 |
Maximum interest rate paid | 3.00% |
Interest payment frequency | Monthly |
Taxes
Are taxes charged on this product? | No |
Additional Comments
Interest paid on deposit rule - If amount deposited is less than 1,000 GHS, 0% interest. If amount deposited is 1,000 GHS or more, 3% interest.
Full Pricing Data
Church Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
---|
Loan Amount | GHS 6,000 | | GHS 9,000 | | GHS 12,000 | | GHS 15,000 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2012-07-17 | | 2012-06-29 | | 2012-11-23 | | 2012-03-23 |
Loan Term (Months) | 25.0 months | | 13.0 months | | 18.0 months | | 37.0 months |
Grace Period (Months) | 0.4 months | | 1.0 month | | 0.0 months | | 0.0 months |
Total Cost of Credit | GHS 2,810.68 | | GHS 2,625.71 | | GHS 4,276.98 | | GHS 9,803.87 |
True Price by Comp | | | | | | | |
Interest price component | 38.7% | | 38.8% | | 38.8% | | 38.8% |
Fee Component | 4.3% | | 6.5% | | 5.4% | | 3.3% |
Insurance Component | 0.8% | | 1.5% | | 1.2% | | 0.5% |
Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 14.0% | | 14.5% | | 15.2% | | 13.0% |
Full APR (int fee ins tax dep) | 57.8% | | 61.3% | | 60.6% | | 55.6% |
Transparency Index | 67 | | 64 | | 64 | | 70 |
| | | | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |