Urwego Opportunity Bank - Micro Individual/Business Loan - MFTransparency.org Truth In Lending Tables

Institution

Urwego Opportunity Bank Plot 1230 NyarugengeAvenue de la PaixKigaliPO Box 748

Data approved: 1900-01-00

Data version: 3

Age of data: - months

Download Data

Analyze Data

Product

Micro Individual/Business Loan Product 3 of 6 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (RWF)	RWF 3,170,097,119
Portfolio (USD)	USD 4,953,276.75
Active Clients with Loans	1,331
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	20% - 40%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

This product is for small entrepreneurs as well as graduated clients from Community Banking groups and Solidarity Groups; a client must have a business.

Loan Purpose

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

Included Services

Credit education
Group meetings
Credit insurance
Workplace visits
Business training	x
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
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	30
# Regions for this product	15
Regions Active	Bugesera, Gasabo, Gicumbi, Huye, Kicukiro, Kirehe, Muhanga, Musanze, Ngoma, Nyabihu, Nyanza, Nyarugenge, Rubavu, Ruhango, Rwamagana

Loan Conditions

Loan Amount

Currency	RWF
Minimum loan size	RWF 250,000
Maximum loan size	60,000,000

Distribution at Disbursement (Est.)

Loans less than RWF 500,000	5%
RWF 500,000-1,500,000	15%
RWF 1,500,000-2,500,000	10%
RWF 2,500,000-3,500,000	10%
RWF 3,500,000-4,500,000	5%
Greater than RWF 4,500,000	5%

Loan Term and Grace Period

Shortest loan term	8.0 months
Longest loan term	60.0 months
Approx average	13.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	0
Between 7 and 9 months	30%
Between 10 and 12 months	10%
Between 13 and 18 months	10%
Longer than 18 months	50%

Grace Period

Grace period usage	0
Average grace period	0

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	10.00%
Highest quoted nominal interest	20.00%
Reason(s) why interest rate varies	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
Description	Loan Processing Fee
% of loan amount - min	1.00%
% of loan amount - max	2.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	Excluding VAT
Appears on Repayment Sched?	Yes

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Life and Fire Insurance Fees
% of loan amount - min	1.00%
% of loan amount - max	1.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	Loans <10M pay 1%, loans >10M pay matrix fee
Appears on Repayment Sched?	No

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	Never
Criteria	N/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 deposited	N/A
or, Fixed-amount deposited	N/A

Deposits DURING period payments

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A
Conditions on access to deposit	N/A

Interest Paid on Deposit

Minimum interest rate paid	N/A
Maximum interest rate paid	N/A
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	Yes
Percentage of fees	18%
All or some fees taxed	All

Additional Comments

Life and Fire insurance fees are paid to Insurance Companies.

Full Pricing Data

Micro Individual/Business Loan samples

	Sample 1	Sample 2
Loan Amount	RWF 5,000,000	RWF 15,000,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known
Disbursement Date	2014-08-04	2014-08-28
Loan Term (Months)	24.0 months	37.0 months
Grace Period (Months)	0.0 months	0.0 months
Total Cost of Credit	RWF 1,343,277	RWF 5,535,081
True Price by Comp
Interest price component	20.8%	19.8%
Fee Component	2.1%	1.5%
Insurance Component	1.1%	0.4%
Tax Component	0.5%	0.4%
Deposit Component	0.0%	0.0%
Full APR (int fee ins tax dep)	24.5%	22.1%
Transparency Index	41	45

Original Repayment Schedule	PDF	PDF
MFT Pricing Calculation	PDF	PDF

Micro Individual/Business Loan Price Graphs

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
AGFS	200	47,000	2	150
Ahantaman RB	23,800	9,896,000	4	132
APED	13,700	1,876,000	2	132
ASA Initiative	4,400	577,000	4	132
ASA-Ghana	71,600	18,385,000	2	132
ASPI	800	88,000	6	132
Atwima Kwanwoma	3,800	1,788,000	2	132
Baobab	5,100	967,000	2	132
BestFUND	13,000	4,172,000	3	132
Bonzali Rural	10,400	1,691,000	4	150
CashPhase	83	135,000	2	132
CASUD	1,100	524,000	1	132
CEDEF	500	54,000	4	132
CFF	100	13,000	1	132
CRAN	3,600	1,019,000	2	132
DQF	1,700	63,000	2	132
EASL	9,200	11,409,000	6	132
East Mamprusi	12,500	2,268,000	4	132
ELDA	0	0	0	132
EMPRETEC Ghana	200	56,000	2	132
FASL	13,500	14,047,000	8	132
Grameen Ghana	9,500	507,000	3	132
ID-Ghana	5,600	953,000	3	132
Innovative Finance	2,700	354,000	3	132
Kraban Support	7,700	781,000	5	150
KRB	4,000	6,350,000	3	132
Lower Pra RB	34,000	6,316,000	3	150
Maata-N-Tudu	12,000	941,000	4	132
Mail Finance	300	288,000	1	132
Markaz	0	0	0	132
Markaz Al Bishara	100	17,000	1	132
MicrofinPlus Gh	1,100	251,000	2	132
Nwabiagya RB	4,000	2,265,000	3	132
OISL	62,000	27,232,000	9	132
Pro Credit	0	0	0	132
Rich Step	100	101,000	1	132
SAT	147,600	29,359,000	4	132
Sekam Trust	600	137,000	2	132
Simli Pong	8,900	463,000	3	150
SS Ghana	200	35,000	1	132
TCCU	100	32,000	3	132
The Bridge	400	32,000	3	150
Union RB	3,800	2,361,000	4	132

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

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
	Greater than:
	Less or equal to:
	From 0 to
	to
	to
	to ∞

Institution

Product

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Additional Comments

Full Pricing Data

Micro Individual/Business Loan samples

Micro Individual/Business Loan Price Graphs

Total Borrowers of Samples

Learn More

MFTransparency News

Explore Resources