2. Eclof Zambia
Please note that the information you are viewing is 156 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Union RB
Please note that the information you are viewing is 132 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Eclof International Zambia 7th Floor Kulima Tower BuildingKatunjila RoadLusaka10101
Data approved: 2011-12-12
Data version: 1
Age of data: 156 months

Institution

Union Rural Bank Limited Head OfficeSenya Bereku, Central RegionP.O. Box 5
Data approved: 2013-02-26
Data version: 2
Age of data: 132 months
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Product

Salary Guaranteed Loan Product 2 of 4 « Prev | Next »

Product

Group Loan Product 1 of 5 « Prev | Next »

Product Summary

Number borrowers28
Loan Amount (range)ZMK 1,500,000 - 10,000,000
Loan Term (range)1 - 12
Other Services (text summary)Group Mtgs, Other Training
Annual Interest & Method96.0% annual, Flat
Fees5.00% upfront
Insurance1.50% upfront
TaxNone
Comp DepN/A
Range of pricing 
Interest Price ComponentN/A
Fee Component170.9% - 177.7% (Int+Fee)
Insurance Component4.8% - 23.6%
Tax Component Range0
Full APR (int fee ins tax dep)176.0% - 187.3%
Transparency Index (min/max)15 - 55
Transparency Index (average)53

Product Summary

1,367
GHS 500 - 3,000
4 - 6
Credit Educ, Group Mtgs
48.00% annual, Flat
2 fees
None
None
10.00% upfront
 
51.3% - 85.2%
6.0% - 24.9%
0
0
123.7% - 127.3%
37 - 56
38

Product Details

Key Statistics
Outstanding portfolio (ZMK)ZMK 103,000,000
Portfolio (USD)USD 19,903.38
Active Clients with Loans28
Approximate % Female Clients40% - 60%
Approximate % Urban Clients80% - 100%
Methodology
Individual
Solidarity groupx
Village banking
Self help groupx
Other
Description
This type of loan is designed for clients in formal employment for not less than 3 months. The advantage of this product is that a clients can obtain any amount up to K10,000,000 depending on their net pay.
Loan Purpose
Any purposex
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
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 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

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 370,227
Portfolio (USD)USD 187,932.49
Active Clients with Loans1,367
Approximate % Female Clients80% - 100%
Approximate % Urban Clients80% - 100%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Designed for groups of individuals.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurance
Workplace visits
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 worker
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, Central Region

Loan Conditions

Loan Amount
CurrencyZMK
Minimum loan sizeZMK 1,500,000
Maximum loan size10,000,000
Loan Term and Grace Period
Shortest loan term1.0 month
Longest loan term12.0 months
Approx average6.0 months
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
CurrencyGHS
Minimum loan sizeGHS 500
Maximum loan size3,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,00020%
GHS 1,000-5,00080%
GHS 5,000-7,5000
GHS 7,500-10,0000
GHS 10,000-13,0000
Greater than GHS 13,0000
Loan Term and Grace Period
Shortest loan term4.0 months
Longest loan term6.0 months
Approx average6.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months100%
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period0.8 months
Repayment Frequency
Daily
Weeklyx
Every 2 weeks
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest8.00%
Highest quoted nominal interest8.00%
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 - min5.00%
% of loan amount - max5.00%
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
Ins 1
DescriptionCredit life
% of loan amount - min1.50%
% of loan amount - max1.50%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
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 interest48.00%
Highest quoted nominal interest48.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionCommitment FeeLoan Form and Pass Book Fee
% of loan amount - min5.00%0
% of loan amount - max5.00%0
OR, Fixed amount - min07
Fixed amount - max07
Reason for variationN/AN/A
Appears on Repayment Sched?YesNo
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?No
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 deposited1.00%
or, Fixed-amount deposited0
Conditions on access to depositAccess During
Interest Paid on Deposit
Minimum interest rate paid2.00%
Maximum interest rate paid7.50%
Interest payment frequencyMonthly
Taxes
Are taxes charged on this product?No

Full Pricing Data

Salary Guaranteed Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountZMK 1,500,000ZMK 2,500,000ZMK 3,500,000ZMK 5,000,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2011-02-012011-02-012011-03-232011-04-29
Loan Term (Months)10.0 months10.0 months4.0 months6.0 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 Component170.9%170.9%177.7%174.8%
Insurance Component5.1%5.1%9.6%7.2%
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)176.0%176.0%187.3%182.0%
Transparency Index55555153
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF

Full Pricing Data

Group Loan samples
Sample 1Sample 2Sample 3
Loan AmountGHS 600GHS 1,500GHS 1,200
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2013-02-132013-02-132013-02-13
Loan Term (Months)6.0 months6.0 months6.0 months
Grace Period (Months)0.4 months0.4 months0.4 months
Total Cost of CreditGHS 181GHS 442GHS 355
True Price by Comp     
Interest price component81.1%81.1%81.1%
Fee Component24.9%22.0%22.5%
Insurance Component0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%
Deposit Component21.3%20.6%20.7%
Full APR (int fee ins tax dep)127.3%123.7%124.3%
Transparency Index383939
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF
Salary Guaranteed 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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