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Institution
Data approved: 2012-09-28
Data version: 2
Age of data: 136 months
Key Statistics
| Outstanding portfolio (RWF) | RWF 147,562,778 |
| Portfolio (USD) | USD 234,227 |
| Active Clients with Loans | 266 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 80% - 100% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
Credit octroye aux membres de la COOPEDU dont le salaire est verse mensuellement sur leur compte e la COOPEDU. Le salaire constitu la garantie
Loan Purpose
| Any purpose | x |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | x |
Eligibility
| Men | x |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | x |
| Must be specific age group | |
| Other | |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 2 |
| # Regions for this product | 3 |
| Regions Active | Gasabo, Kicukiro, Nyarugenge |
Loan Conditions
Loan Amount
| Currency | RWF |
| Minimum loan size | RWF 150,000 |
| Maximum loan size | 3,500,000 |
Distribution at Disbursement (Est.)
| Loans less than RWF 500,000 | 20% |
| RWF 500,000-1,500,000 | 20% |
| RWF 1,500,000-2,500,000 | 30% |
| RWF 2,500,000-3,500,000 | 30% |
| RWF 3,500,000-4,500,000 | 0 |
| Greater than RWF 4,500,000 | 0 |
Loan Term and Grace Period
| Shortest loan term | 6.0 months |
| Longest loan term | 24.0 months |
| Approx average | DK |
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 | 20% |
| Between 13 and 18 months | 50% |
| Longer than 18 months | 30% |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0.3 months |
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 | 1.70% |
| Highest quoted nominal interest | 1.70% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Commission sur credit |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Assurance sur credit |
| % of loan amount - min | 0.09% |
| % of loan amount - max | 6.02% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Depends on age, loan amount, loan term |
| 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
APR calculations have used insurance rates applicable to a 30 year old client
Full Pricing Data
Avance Sur Salaire samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | RWF 261,600 | | RWF 487,200 | | RWF 1,044,000 | | RWF 2,000,000 |
| Loan Cycle (1, 2, 3, etc) | 1 | | 1 | | 1 | | 1 |
| Disbursement Date | 2012-03-27 | | 2012-02-22 | | 2012-01-26 | | 2011-11-24 |
| Loan Term (Months) | 12.0 months | | 18.0 months | | 25.0 months | | 18.0 months |
| Grace Period (Months) | 1.0 month | | 1.0 month | | 1.3 months | | 1.0 month |
| Total Cost of Credit | RWF 32,988.68 | | RWF 88,448.61 | | RWF 253,623.48 | | RWF 363,100 |
| True Price by Comp | | | | | | | |
| Interest price component | 19.7% | | 19.9% | | 19.7% | | 19.8% |
| Fee Component | 1.9% | | 1.3% | | 1.1% | | 1.4% |
| Insurance Component | 0.5% | | 0.5% | | 0.4% | | 0.4% |
| Tax Component | 0.4% | | 0.3% | | 0.3% | | 0.3% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 22.5% | | 22.0% | | 21.5% | | 21.9% |
| Transparency Index | 91 | | 93 | | 95 | | 93 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
Avance Sur Salaire Price Graphs
