Ghana Loan Pre Agreement Statement and APR Calculator 30 10 15 - Final Dra..

PRE-AGREEMENT TRUTH IN LENDING DISCLOSURE STATEMENT
Lender's Name: Applicant Name: Date prepared:

Prepared by: Address: Application No:
KEY TERMS & CONDITIONS - Review Carefully Before Agreeing to Loan
Loan Amount All Interest and Other Fees Amount you will pay
GHS 10,000.00 + GHS 1,771.71 = GHS 11,771.71
LOAN SUMMARY FEES & COMMISSIONS REPAYMENT SCHEDULE
Amount of Loan Interest charges
The value of the loan you are GHS 980.98
GHS 1,071.71 Amount of each payment
signing for
Other charges and fees (see
GHS 10,000.00 below for details) GHS 700.00 Payment frequency Monthly
Amount Received Number of payments 12
The actual amount the lender
provides you at beginning of loan GHS 10,000.00 APR* 31.24%
*APR reflects the cost of the credit you are taking on a yearly basis. It is a
Required Compulsory Deposit useful tool to compare costs of similar loans and credits.
GHS 500.00 Loan Term ____ Months
DETAILED DESCRIPTION OF PENALTIES AND CHARGES AND ADDITIONAL REQUIREMENTS

PENALTY CHARGES OTHER CHARGES & FEES
Late Payment: If a payment is more than [ ] days late, you Prepayment: If you pay the loan off early you: Credit history consultation fee GHS -
will be charged ___% on the remaining balance of the loan. * Will have to pay a penalty of ____________ Commitment fee GHS -
* May be entitled to a refund of part of the interest fees and other Processing fees GHS 100.00
charges Other charges GHS -
Insurance fees GHS 100.00
PAYMENT SCHEDULE
Date First Payment Due 31/01/2016
Payment Due Date Payment Amount Interest Charges Principal Remaining Balance
31/01/2016 GHS 980.98 GHS 160.50 GHS 820.48 GHS 9,879.52
28/02/2016 GHS 980.98 GHS 148.19 GHS 832.78 GHS 9,046.74
31/03/2016 GHS 980.98 GHS 135.70 GHS 845.27 GHS 8,201.47
30/04/2016 GHS 980.98 GHS 123.02 GHS 857.95 GHS 7,343.51
31/05/2016 GHS 980.98 GHS 110.15 GHS 870.82 GHS 6,472.69
30/06/2016 GHS 980.98 GHS 97.09 GHS 883.89 GHS 5,588.80
31/07/2016 GHS 980.98 GHS 83.83 GHS 897.14 GHS 4,691.66
31/08/2016 GHS 980.98 GHS 70.37 GHS 910.60 GHS 3,781.06
30/09/2016 GHS 980.98 GHS 56.72 GHS 924.26 GHS 2,856.80
31/10/2016 GHS 980.98 GHS 42.85 GHS 938.12 GHS 1,918.67
30/11/2016 GHS 980.98 GHS 28.78 GHS 952.20 GHS 966.48
31/12/2016 GHS 980.98 GHS 14.50 GHS 966.48 GHS 0.00
TOTAL GHS 11,771.71 GHS 1,071.71 GHS 10,700.00 GHS 0.00
Cooling Off Period: You may, up to 10 days after signing the loan agreement, cancel the loan, and only pay any disbursements to date, as well as an administrative fee of _____% of the Amount of
Loan. To exercise such right, you shall give a written notice through this address :
For any questions or complaints, please contact the Telephone: Address: Email: Complaints Unit Manager:
customer service hotline:
Signature of Customer _________________________ Signature of Loan Officer _________________________

Date _________________________ Date _________________________
Institution Name
Product Name
Loan Amount GHS 10,000.00

Months of Loan 12
Annual Interest Rate 18.00%
Monthly Interest Rate 1.50%
Declining or Flat Balance
Interest Rate? (1=Declining,
2=Flat) 1
Mandatory Savings GHS 500.00
Fees and Insurance

(1=Financed, 2=Deducted from
Principle) 1.00
Insurance Charge 100.00
Credit History Consultation 0.00
Commitment Fee 0.00
Processing Fee 100.00
Mandatory Savings Cost 500.00

Other Fees
0.00
Fees and Insurance Expressed

in % or GHS (1=%, 2=GHS) 2
Total Other Charges & Fees GHS 700.00
Interest Charges GHS 1,071.71
Amount to Finance GHS 10,700.00
Amount Received GHS 10,000.00

Payment Frequency Monthly
Monthly Payments GHS 980.98
Total Payments GHS 11,771.71
Number of Payments 12
APR 31.24%
Payment Period Capital Interest Charges Principal Balance Monthly Payment
0 GHS 10,000.00 - - -
1 GHS 10,700.00 GHS 160.50 GHS 820.48 GHS 9,879.52 GHS 980.98
11 GHS 1,918.67 GHS 28.78 GHS 952.20 GHS 966.48 GHS 980.98
12 GHS 966.48 GHS 14.50 GHS 966.48 GHS - GHS 980.98
13 GHS - GHS - GHS - GHS - GHS -
TOTAL GHS 1,071.71 GHS 10,700.00 GHS 11,771.71

Institution Name
Product Name
Loan Amount GHS 10,000.00

Months of Loan 12
Annual Interest Rate 18.00%
Monthly Interest Rate 1.50%
Declining or Flat Balance
Interest Rate? (1=Declining,
2=Flat) 2
Mandatory Savings GHS 500.00
185 Day Treasury Bill Rate 10%
Fees and Insurance

(1=Financed, 2=Deducted from
Principle) 1.00
Insurance Charge 100.00
Credit History Consultation 0.00
Commitment Fee 0.00
Processing Fee 100.00
Mandatory Savings Cost 50.00

Other Charges
0.00
Fees and Insurance Expressed

in % or $ (1=%, 2=$) 2
Total Other Charges & Fees GHS 250.00
Interest Charges GHS 1,845.00
Amount to Finance GHS 10,250.00
Amount Received GHS 10,000.00

Payment Frequency Monthly
Monthly Payments GHS 1,007.92
Total Payments GHS 12,095.00
Number of Payments 12
APR 36.66%
Payment Period Capital Interest Charges Principal Balance Monthly Payment
0 GHS 10,000.00 - - -
1 GHS 10,250.00 GHS 153.75 GHS 854.17 GHS 9,395.83 GHS 1,007.92
11 GHS 1,708.33 GHS 153.75 GHS 854.17 GHS 854.17 GHS 1,007.92
12 GHS 854.17 GHS 153.75 GHS 854.17 GHS - GHS 1,007.92
TOTAL GHS 1,845.00 GHS 10,250.00 GHS 12,095.00

PRE-AGREEMENT TRUTH IN LENDING DISCLOSURE STATEMENT
Lender's Name: Applicant Name: Date prepared:
Prepared by: Address: Application No:
KEY TERMS & CONDITIONS - Review Carefully Before Agreeing to Loan
Loan Amount All Interest and Other Fees Amount you will pay
GHS 10,000.00 + GHS 2,095.00 = GHS 12,095.00
LOAN SUMMARY FEES & COMMISSIONS REPAYMENT SCHEDULE
Amount of Loan Interest charges
The value of the loan you are GHS 1,007.92
GHS 1,845.00 Amount of each payment
signing for
Other charges and fees (see
GHS 10,000.00 below for details) GHS 250.00 Payment frequency Monthly
Amount Received Number of payments 12
The actual amount the lender
provides you at beginning of loan GHS 10,000.00 APR* 36.66%
*APR reflects the cost of the credit you are taking on a yearly basis. It is a
Required Compulsory Deposit useful tool to compare costs of similar loans and credits.
GHS 500.00 Loan Term ____ Months
DETAILED DESCRIPTION OF PENALTIES AND CHARGES AND ADDITIONAL REQUIREMENTS

PENALTY CHARGES OTHER CHARGES & FEES
Late Payment: If a payment is more than [ ] days late, you Prepayment: If you pay the loan off early you: Credit history consultation fee GHS -
will be charged ___% on the remaining balance of the loan. * Will have to pay a penalty of ____________ Commitment fee GHS -
* May be entitled to a refund of part of the interest fees and other Processing fees GHS 100.00
charges Other charges GHS -
Insurance fees GHS 100.00
PAYMENT SCHEDULE
Date First Payment Due 31/01/2016
Payment Due Date Payment Amount Interest Charges Principal Remaining Balance
31/01/2016 GHS 1,007.92 GHS 153.75 GHS 854.17 GHS 9,395.83
28/02/2016 GHS 1,007.92 GHS 153.75 GHS 854.17 GHS 8,541.67
31/03/2016 GHS 1,007.92 GHS 153.75 GHS 854.17 GHS 7,687.50
30/04/2016 GHS 1,007.92 GHS 153.75 GHS 854.17 GHS 6,833.33
31/05/2016 GHS 1,007.92 GHS 153.75 GHS 854.17 GHS 5,979.17
30/06/2016 GHS 1,007.92 GHS 153.75 GHS 854.17 GHS 5,125.00
31/07/2016 GHS 1,007.92 GHS 153.75 GHS 854.17 GHS 4,270.83
31/08/2016 GHS 1,007.92 GHS 153.75 GHS 854.17 GHS 3,416.67
30/09/2016 GHS 1,007.92 GHS 153.75 GHS 854.17 GHS 2,562.50
31/10/2016 GHS 1,007.92 GHS 153.75 GHS 854.17 GHS 1,708.33
30/11/2016 GHS 1,007.92 GHS 153.75 GHS 854.17 GHS 854.17
31/12/2016 GHS 1,007.92 GHS 153.75 GHS 854.17 GHS -
TOTAL GHS 12,095.00 $1,845.00 $10,250.00 GHS -
Cooling Off Period: You may, up to 10 days after signing the loan agreement, cancel the loan, and only pay any disbursements to date, as well as an administrative fee of _____% of the Amount of
Loan. To exercise such right, you shall give a written notice through this address :
For any questions or complaints, please contact the Telephone: Address: Email: Complaints Unit Manager:
customer service hotline:
Signature of Customer _________________________ Signature of Loan Officer _________________________

Date _________________________ Date _________________________

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PRE-AGREEMENT TRUTH IN LENDING DISCLOSURE STATEMENT

Lender's Name: Applicant Name: Date prepared:

KEY TERMS & CONDITIONS - Review Carefully Before Agreeing to Loan

DETAILED DESCRIPTION OF PENALTIES AND CHARGES AND ADDITIONAL REQUIREMENTS

Signature of Customer _________________________ Signature of Loan Officer _________________________

Loan Amount GHS 10,000.00

Fees and Insurance

Insurance Charge 100.00

Credit History Consultation 0.00

Commitment Fee 0.00

Processing Fee 100.00

Mandatory Savings Cost 500.00

Fees and Insurance Expressed

Amount Received GHS 10,000.00

TOTAL GHS 1,071.71 GHS 10,700.00 GHS 11,771.71

Loan Amount GHS 10,000.00

Fees and Insurance

Insurance Charge 100.00

Credit History Consultation 0.00

Commitment Fee 0.00

Processing Fee 100.00

Mandatory Savings Cost 50.00

Fees and Insurance Expressed

Amount Received GHS 10,000.00

TOTAL GHS 1,845.00 GHS 10,250.00 GHS 12,095.00

KEY TERMS & CONDITIONS - Review Carefully Before Agreeing to Loan

DETAILED DESCRIPTION OF PENALTIES AND CHARGES AND ADDITIONAL REQUIREMENTS

Signature of Customer _________________________ Signature of Loan Officer _________________________

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