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Institution
Data approved: 2011-12-07
Data version: 1
Age of data: - months
Key Statistics
| Outstanding portfolio (GHS) | GHS 60,183 |
| Portfolio (USD) | USD 40,122 |
| Active Clients with Loans | 59 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 0% - 20% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
Simple repayment schedule\rNo collateral for some loans\rSalary loan\r
Loan Purpose
| Any purpose | x |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| Men | x |
| Women | x |
| Must run a business | x |
| 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 | N/A |
| # Regions for this product | N/A |
| Regions Active | |
Loan Conditions
Loan Amount
| Currency | GHS |
| Minimum loan size | GHS 200 |
| Maximum loan size | 7,808 |
Loan Term and Grace Period
| Shortest loan term | 6.0 months |
| Longest loan term | 24.0 months |
| Approx average | 14.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | N/A |
| Between 4 and 6 months | N/A |
| Between 7 and 9 months | N/A |
| Between 10 and 12 months | N/A |
| Between 13 and 18 months | N/A |
| Longer than 18 months | N/A |
Grace Period
| Grace period usage | 100% |
| Average grace period | 1.0 month |
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 | 0 |
| Highest quoted nominal interest | 42.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | N/A |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 | | Fee 2 |
|---|
| Description | Processing fee | | Application fee |
| % of loan amount - min | 3.00% | | 0 |
| % of loan amount - max | 3.00% | | 0 |
| OR, Fixed amount - min | 0 | | 3 |
| Fixed amount - max | 0 | | 3 |
| Reason for variation | | | |
| Appears on Repayment Sched? | No | | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Insurance fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? | No |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? | |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 10.00% - N/A |
| or, Fixed-amount deposited | 0 - N/A |
Deposits DURING period payments
| % loan amount deposited | 0 - N/A |
| or, Fixed-amount deposited | 0 - N/A |
| Conditions on access to deposit | End Term |
Interest Paid on Deposit
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 3.00% |
| Interest payment frequency | End Term |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Compulsory savings of up to 1Ghana Cedis, earn an interest rate of 3% at the end of the term\r
Full Pricing Data
Salary Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 |
|---|
| Loan Amount | GHS 250 | | GHS 768.67 | | GHS 1,530.14 | | GHS 3,600 | | GHS 7,807.74 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2012-11-16 | | 2012-10-10 | | 2012-09-28 | | 2012-06-14 | | 2012-09-27 |
| Loan Term (Months) | 16.0 months | | 12.0 months | | 12.0 months | | 24.0 months | | 12.0 months |
| Grace Period (Months) | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months |
| Total Cost of Credit | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| True Price by Comp | | | | | | | | | |
| Interest and Fee Component | 48.9% | | 49.1% | | 48.7% | | 45.5% | | 48.4% |
| Insurance Component | 1.7% | | 2.2% | | 2.2% | | 1.2% | | 2.2% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 9.9% | | 10.2% | | 10.1% | | 8.3% | | 10.0% |
| Full APR (int fee ins tax dep) | 60.5% | | 61.5% | | 61.0% | | 54.9% | | 60.6% |
| Transparency Index | 0 | | 0 | | 0 | | 0 | | 0 |
| | | | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF |
