Please note that the information you are viewing is
138 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2013-03-12
Data version: 2
Age of data: 138 months
Key Statistics
Outstanding portfolio (GHS) | GHS 5,704,136 |
Portfolio (USD) | USD 2,895,500.51 |
Active Clients with Loans | 3,257 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 20% - 40% |
Methodology
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other | |
Description
Individual loan is offered to individual clients for working capital and financing business expansion purposes.
Loan Purpose
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) | |
Included Services
Credit education | x |
Group meetings | |
Credit insurance | x |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
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 | |
Other | |
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 200 |
Maximum loan size | 12,000 |
Distribution at Disbursement (Est.)
Loans less than GHS 1,000 | 10% |
GHS 1,000-5,000 | 80% |
GHS 5,000-7,500 | 10% |
GHS 7,500-10,000 | 0 |
GHS 10,000-13,000 | 0 |
Greater than GHS 13,000 | 0 |
Loan Term and Grace Period
Shortest loan term | 2.0 months |
Longest loan term | 24.0 months |
Approx average | 9.0 months |
Distribution at Disbursement (Est.)
Loans 3 months or less | 10% |
Between 4 and 6 months | 20% |
Between 7 and 9 months | 30% |
Between 10 and 12 months | 30% |
Between 13 and 18 months | 10% |
Longer than 18 months | 0 |
Grace Period
Grace period usage | 0 |
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 | 42.00% |
Highest quoted nominal interest | 42.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
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 | 10.00% |
or, Fixed-amount deposited | 0 |
Deposits DURING period payments
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | End Term |
Interest Paid on Deposit
Minimum interest rate paid | 0 |
Maximum interest rate paid | 3.00% |
Interest payment frequency | End Term |
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
Individual Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
---|
Loan Amount | GHS 300 | | GHS 700 | | GHS 1,500 | | GHS 3,000 | | GHS 6,000 | | GHS 9,000 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2012-12-11 | | 2012-12-13 | | 2012-12-20 | | 2012-12-20 | | 2012-10-24 | | 2012-05-17 |
Loan Term (Months) | 5.5 months | | 7.0 months | | 11.0 months | | 11.0 months | | 8.0 months | | 25.0 months |
Grace Period (Months) | 0.5 months | | 0.4 months | | 0.4 months | | 0.5 months | | 0.4 months | | 0.5 months |
Total Cost of Credit | GHS 74.10 | | GHS 216.78 | | GHS 620.20 | | GHS 1,244.40 | | GHS 2,040.44 | | GHS 8,202.48 |
True Price by Comp | | | | | | | | | | | |
Interest price component | 62.4% | | 64.9% | | 66.3% | | 65.6% | | 65.0% | | 63.5% |
Fee Component | 16.6% | | 11.6% | | 8.4% | | 8.0% | | 9.4% | | 4.1% |
Insurance Component | 3.1% | | 2.3% | | 1.7% | | 1.6% | | 2.0% | | 0.6% |
Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 13.6% | | 13.4% | | 13.0% | | 12.7% | | 12.9% | | 10.2% |
Full APR (int fee ins tax dep) | 95.7% | | 92.2% | | 89.4% | | 87.9% | | 89.3% | | 78.4% |
Transparency Index | 44 | | 46 | | 47 | | 48 | | 47 | | 54 |
| | | | | | | | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
Individual Loan Price Graphs