2. Zigama CSS
Please note that the information you are viewing is 154 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Meanwood
Please note that the information you are viewing is 157 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Zigama Credit and Savings Society Head OfficeKigali, GasaboPO Box BP4772
Data approved: 2011-09-16
Data version: 1
Age of data: 154 months

Institution

Meanwood Finance Corporation Limited Design HouseCairo RoadLusakaPO Box 31334
Data approved: 2011-12-12
Data version: 1
Age of data: 157 months

Product

Short Term Loan Product 2 of 2 « Prev | Next »

Product

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Product Summary

Number borrowers38,500
Loan Amount (range)RWF 100,000 - 5,000,000
Loan Term (range)3 - 36
Other Services (text summary)Credit Educ
Annual Interest & Method15.00% annual, Decl Bal
Fees2 fees
InsuranceNone
TaxNone
Comp Dep30.00% upfront
Range of pricing 
Interest Price ComponentN/A
Fee Component14.2% - 39.9% (Int+Fee)
Insurance Component0
Tax Component Range0
Full APR (int fee ins tax dep)24.7% - 57.5%
Transparency Index (min/max)26 - 83
Transparency Index (average)41

Product Summary

374
ZMK 100,000 - 5,000,000
1
Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Other Training
276.0% annual, Flat
None
None
None
N/A
 
N/A
270.3% - 280.2% (Int+Fee)
0
0
270.3% - 280.2%
41 - 102
100

Product Details

Key Statistics
Outstanding portfolio (RWF)RWF 28,000,000,000
Portfolio (USD)USD 43,750,000
Active Clients with Loans38,500
Approximate % Female Clients0% - 20%
Approximate % Urban Clients0% - 20%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Loan term is between 1 and 36 months, priced at 15% interest rate per annum, easy access - loan obtained in 10-15 minutes, purpose is usually consumption, school fees, medical bills, marriage, etc.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loanx
Agriculture
Educationx
Other household financex
OtherMedicals bills, Insurance
Other (2)Marriage
Included Services
Credit educationx
Group meetings
Credit insurance
Workplace visits
Business training
Other training
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
OtherOnly members - soldiers, police officers, veterans
Other (2)Spouses and widows of these groups
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution11
# Regions for this product13
Regions ActiveBugesera, Gasabo, Gicumbi, Huye, Karongi, Kicukiro, Muhanga, Musanze, Ngoma, Nyagatare, Nyarugenge, Rubavu, Rwamagana

Product Details

Key Statistics
Outstanding portfolio (ZMK)ZMK 326,000,000
Portfolio (USD)USD 62,995.17
Active Clients with Loans374
Approximate % Female Clients40% - 60%
Approximate % Urban Clients80% - 100%
Methodology
Individual
Solidarity group
Village banking
Self help groupx
Other
Description
Loan product for salaried workers specifically for one month repayment period.
Loan Purpose
Any purpose
Income generation
Mortgage/housing
Consumer loan
Agriculture
Educationx
Other household financex
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visitsx
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 workerx
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

Loan Conditions

Loan Amount
CurrencyRWF
Minimum loan sizeRWF 100,000
Maximum loan size5,000,000
Distribution at Disbursement (Est.)
Loans less than RWF 500,00020%
RWF 500,000-1,500,00020%
RWF 1,500,000-2,500,00020%
RWF 2,500,000-3,500,00020%
RWF 3,500,000-4,500,00010%
Greater than RWF 4,500,00010%
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term36.0 months
Approx average24.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months15%
Between 7 and 9 months15%
Between 10 and 12 months15%
Between 13 and 18 months15%
Longer than 18 months40%
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyZMK
Minimum loan sizeZMK 100,000
Maximum loan size5,000,000
Loan Term and Grace Period
Shortest loan term1.0 month
Longest loan term1.0 month
Approx average1.0 month
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
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 interest15.00%
Highest quoted nominal interest15.00%
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionCommissionLoan Analysis
% of loan amount - min1.00%0
% of loan amount - max1.00%0
OR, Fixed amount - min02,000
Fixed amount - max02,000
Reason for variationN/AN/A
Appears on Repayment Sched?NoNo
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 forSome
CriteriaSecurity deposit required is a factor of other collateral available & earning capacity over time. At least 30% of loan amount required as savings if no other collateral.
Is deposit indicated on the repayment schedule?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited30.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositWhen Leaving
Interest Paid on Deposit
Minimum interest rate paid6.00%
Maximum interest rate paid6.00%
Interest payment frequencyAnnually
Taxes
Are taxes charged on this product?No
Additional Comments
Savings during the loan term is 7% of monthly salary amount, regardless of whether member has a loan or not. All first payments made the last day of the month, between then and disbursement date borrower pays interest.

Pricing Information

Interest
Lowest quoted nominal interest23.00%
Highest quoted nominal interest23.00%
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
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
This product has no upfront insurance fees
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

Full Pricing Data

Short Term Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountRWF 100,000RWF 300,000RWF 600,000RWF 1,200,000RWF 2,000,000RWF 3,065,549
Loan Cycle (1, 2, 3, etc)000000
Disbursement Date2011-03-222011-03-222011-03-222011-03-222011-03-222011-03-02
Loan Term (Months)25.0 months2.0 months31.0 months61.0 months25.0 months85.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot KnownNot KnownNot Known
True Price by Comp           
Interest and Fee Component19.0%39.9%16.9%15.9%17.0%14.2%
Insurance Component0.0%0.0%0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component19.2%17.6%16.3%12.8%17.0%10.5%
Full APR (int fee ins tax dep)38.1%57.5%33.2%28.8%34.0%24.7%
Transparency Index392645524461
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF

Full Pricing Data

Salary Advance samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountZMK 500,000ZMK 600,000ZMK 800,000ZMK 850,000ZMK 1,000,000ZMK 1,500,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2011-05-272011-06-012011-06-032011-06-212011-06-172011-06-21
Loan Term (Months)1.0 month1.0 month1.0 month1.0 month1.0 month1.0 month
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot KnownNot KnownNot Known
True Price by Comp           
Interest and Fee Component270.3%280.2%270.3%280.2%270.3%280.2%
Insurance Component0.0%0.0%0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)270.3%280.2%270.3%280.2%270.3%280.2%
Transparency Index100981009810098
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF
Short Term Loan Price Graphs


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Salary Advance 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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X Axis
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