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Institution
Data approved: 2013-03-12
Data version: 2
Age of data: 138 months
Key Statistics
Outstanding portfolio (GHS) | GHS 9,320,505 |
Portfolio (USD) | USD 4,731,220.81 |
Active Clients with Loans | 595 |
Approximate % Female Clients | 0% - 20% |
Approximate % Urban Clients | 80% - 100% |
Methodology
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other | |
Description
ISME loan is a short to medium-term loan facility for private school owners. Loan amount start from Ghc 2,000.00 and the loan term can be extended to 24 months.
Loan Purpose
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | x |
Other household finance | |
Other | |
Other (2) | |
Included Services
Credit education | |
Group meetings | |
Credit insurance | |
Workplace visits | x |
Business training | x |
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 | Fully registered and licensed school |
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 10,000 |
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 | 0 |
GHS 7,500-10,000 | 0 |
GHS 10,000-13,000 | 30% |
Greater than GHS 13,000 | 30% |
Loan Term and Grace Period
Shortest loan term | 10.0 months |
Longest loan term | 37.0 months |
Approx average | 16.0 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 | 30% |
Between 13 and 18 months | 30% |
Longer than 18 months | 40% |
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% |
Reason(s) why interest rate varies | Time as Client, Loan Size, Client Risk, Collateral, Loan Purpose |
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 | 0 - 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
Loans below 10,000 GHS: 10% compulsory depsoit requirement. 10,000 GHS and above: no requirement. Interest paid on deposit rule - If amount deposited is less than 1,000 GHS, 0% interest. If amount depsoited is 1,000 GHS or more, 3% interest.
Full Pricing Data
ISME / Edufinance samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
---|
Loan Amount | GHS 12,000 | | GHS 12,553.63 | | GHS 15,000 | | GHS 15,680.25 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2012-11-27 | | 2012-12-05 | | 2012-11-23 | | 2012-11-06 |
Loan Term (Months) | 13.0 months | | 21.0 months | | 12.0 months | | 14.0 months |
Grace Period (Months) | 1.0 month | | 1.1 months | | 0.0 months | | 1.5 months |
Total Cost of Credit | GHS 3,489.15 | | GHS 5,255.91 | | GHS 3,868.32 | | GHS 4,754.79 |
True Price by Comp | | | | | | | |
Interest price component | 38.8% | | 38.4% | | 38.8% | | 38.3% |
Fee Component | 6.5% | | 4.6% | | 7.5% | | 6.2% |
Insurance Component | 1.5% | | 1.4% | | 1.7% | | 1.8% |
Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Full APR (int fee ins tax dep) | 46.8% | | 44.4% | | 48.0% | | 46.3% |
Transparency Index | 83 | | 88 | | 81 | | 84 |
| | | | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
ISME / Edufinance Price Graphs