2. TCCU
Please note that the information you are viewing is 134 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. BestFUND
Please note that the information you are viewing is 134 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Tamale Community Credit Union P.O.BoxTamale, Northern Region233
Data approved: 2011-12-07
Data version: 1
Age of data: -   months 
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Institution

BestFUND Head OfficeCantomentsAccra, Greater AccraP.O. Box CT 5217
Data approved: 2013-03-04
Data version: 2
Age of data: 134 months
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Product

Provident Loan Product 3 of 3 « Prev | Next »

Product

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Product Summary

Number borrowers84
Loan Amount (range)GHS 500 - 6,000
Loan Term (range)1 - 18
Other Services (text summary)
Annual Interest & Method36.00%-0.00% annual, Decl Bal
Fees
Insurance
Tax
Comp DepN/A
Range of pricing 
Interest Price ComponentN/A
Fee Component36.4% - 36.7% (Int+Fee)
Insurance Component0 - 11.5%
Tax Component Range0
Full APR (int fee ins tax dep)43.0% - 47.0%
Transparency Index (min/max)50 - 96
Transparency Index (average)81

Product Summary

1,211
GHS 3,000 - 8,000
6 - 10
Credit Ins, Tech Asst Visits
36.0%-96.0% annual, Flat
3.00% upfront
None
None
10.0% upfront
 
49.7% - 53.3%
9.3% - 18.4%
0
0
74.9% - 78.8%
44 - 53
47

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 40,802
Portfolio (USD)USD 27,201
Active Clients with Loans84
Approximate % Female Clients40% - 60%
Approximate % Urban Clients0% - 20%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
These loans may be taken to include loans for education, transport, building, weddings, funerals, etc. And it is for men, women and for groups.\r
Loan Purpose
Any purpose
Income generation
Mortgage/housingx
Consumer loan
Agriculture
Educationx
Other household financex
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurance
Workplace visits
Business training
Other trainingx
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institutionN/A
# Regions for this productN/A
Regions Active

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 2,110,130
Portfolio (USD)USD 1,071,131.98
Active Clients with Loans1,211
Approximate % Female Clients60% - 80%
Approximate % Urban Clients0% - 20%
Methodology
Individualx
Solidarity group
Village bankingx
Self help group
Other
Description
Designed for individuals with businessness requesting a larger loan size than Individual Loan.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Educationx
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetings
Credit insurancex
Workplace visitsx
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried workerx
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution2
# Regions for this product2
Regions ActiveGreater Accra Region, Ashanti Region

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 500
Maximum loan size6,000
Loan Term and Grace Period
Shortest loan term1.0 month
Longest loan term18.0 months
Approx average10.0 months
Distribution at Disbursement (Est.)
Loans 3 months or lessN/A
Between 4 and 6 monthsN/A
Between 7 and 9 monthsN/A
Between 10 and 12 monthsN/A
Between 13 and 18 monthsN/A
Longer than 18 monthsN/A
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weeklyx
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular paymentsx

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 3,000
Maximum loan size8,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,0000
GHS 1,000-5,00030%
GHS 5,000-7,50060%
GHS 7,500-10,00010%
GHS 10,000-13,0000
Greater than GHS 13,0000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term10.0 months
Approx averagedk
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months30%
Between 7 and 9 months70%
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period1.0 month
Repayment Frequency
Daily
Weeklyx
Every 2 weeksx
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest3.00%
Highest quoted nominal interest3.00%
Interest rate periodMonthly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?N/A
Is rate fixed for entire loan termYes
Upfront Fees
This product has no upfront fees
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance coverage is given by CUA and depends on the amount take and the duration of the loan. The minimum, for a month, is 3% and the maximum, for a year, is 19.5% on a reducing balance method of payment. Interest is declining balance, but calculation is flat payment for easy payment
% of loan amount - min3.00%
% of loan amount - max19.50%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation
Appears on Repayment Sched?No
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/A
Is deposit indicated on the repayment schedule?N/A
Do borrowers control deposit in their group?N/A
Deposit BEFORE or AT Disbursement
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest3.00%
Highest quoted nominal interest8.00%
Reason(s) why interest rate variesClient Risk
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min3.00%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
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 forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?Yes
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited10.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositFinal Pmt
Interest Paid on Deposit
Minimum interest rate paid4.00%
Maximum interest rate paid4.00%
Interest payment frequencyEnd Term
Taxes
Are taxes charged on this product?No

Full Pricing Data

Provident Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountGHS 500GHS 1,200GHS 2,000GHS 6,000
Loan Cycle (1, 2, 3, etc)
Disbursement Date
Loan Term (Months)7.0 months12.0 months12.0 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot Known
True Price by Comp       
Interest and Fee Component36.7%36.4%36.5%36.6%
Insurance Component10.3%6.6%6.6%6.6%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)47.0%43.0%43.1%43.2%
Transparency Index77848383
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF

Full Pricing Data

Capacity Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountGHS 3,000GHS 3,200GHS 6,500GHS 6,600
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-01-032013-01-152013-01-072013-03-04
Loan Term (Months)4.0 months4.0 months3.0 months4.0 months
Grace Period (Months)1.2 months1.2 months0.9 months1.0 month
Total Cost of CreditGHS 450GHS 480GHS 780GHS 990
True Price by Comp       
Interest price component51.0%51.0%50.1%50.7%
Fee Component13.9%13.9%17.9%13.8%
Insurance Component0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component10.4%10.4%10.8%10.4%
Full APR (int fee ins tax dep)75.3%75.3%78.8%74.9%
Transparency Index48484648
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
Provident Loan Price Graphs


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Key Statistics
# Samples:
# Products
# 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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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