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Institution
Data approved: 2013-06-25
Data version: 2
Age of data: 142 months
Key Statistics
| Outstanding portfolio (KES) | KES 8,468,382 |
| Portfolio (USD) | USD 102,275.14 |
| Active Clients with Loans | 165 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 40% - 60% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
Loan to finance school fees for children.
Loan Purpose
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | x |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | |
| 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 | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 7 |
| # Regions for this product | 7 |
| Regions Active | Central, Coast, Eastern, Nairobi, Nyanza, Rift Valley, Western |
Loan Conditions
Loan Amount
| Currency | KES |
| Minimum loan size | KES 5,000 |
| Maximum loan size | 150,000 |
Distribution at Disbursement (Est.)
| Loans less than KES 50,000 | 60% |
| KES 50,000-150,000 | 40% |
| KES 150,000-250,000 | 0 |
| KES 250,000-350,000 | 0 |
| KES 350,000-450,000 | 0 |
| Greater than KES 450,000 | 0 |
Loan Term and Grace Period
| Shortest loan term | 3.0 months |
| Longest loan term | 12.0 months |
| Approx average | 6.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 40% |
| Between 7 and 9 months | 20% |
| Between 10 and 12 months | 40% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
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 | 18.00% |
| Highest quoted nominal interest | 22.00% |
| Reason(s) why interest rate varies | Time as Client |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Loan Application Fee |
| % of loan amount - min | 3.00% |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Annual Loan Protection Fee |
| % of loan amount - min | 1.20% |
| % of loan amount - max | 1.20% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
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? | No |
Additional Comments
No upfront or continuing compulsory deposit, however this loan product is a rider loan,only accessible to clients who already have another active KADET loan with compulsory upfront and continuing savings.
Full Pricing Data
School Fees Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | KES 10,000 | | KES 30,000 | | KES 55,000 | | KES 90,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2013-05-14 | | 2013-04-22 | | 2013-04-19 | | 2013-05-09 |
| Loan Term (Months) | 6.0 months | | 6.0 months | | 12.0 months | | 12.0 months |
| Grace Period (Months) | 0.2 months | | 0.0 months | | -0.1 months | | 0.1 months |
| Total Cost of Credit | KES 1,520 | | KES 4,560 | | KES 14,410 | | KES 23,580 |
| True Price by Comp | | | | | | | |
| Interest price component | 34.2% | | 36.0% | | 38.9% | | 37.4% |
| Fee Component | 10.1% | | 10.7% | | 6.2% | | 5.9% |
| Insurance Component | 4.1% | | 4.4% | | 2.6% | | 2.5% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 48.4% | | 51.1% | | 47.7% | | 45.8% |
| Transparency Index | 37 | | 35 | | 38 | | 39 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
School Fees Loan Price Graphs
