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141 months old and may not represent the prices currently charged.
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Institution
Data approved: 2013-09-23
Data version: 2
Age of data: 141 months
Key Statistics
| Outstanding portfolio (KES) | KES 250,477,647 |
| Portfolio (USD) | USD 3,025,092.36 |
| Active Clients with Loans | 900 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 40% - 60% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
To enable customers to acquire durable assets eg motor vehicles and machinery for business or personal use. Assets you buy can be used to meet collateral requirements.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | Loan specifically used for purchase of assets. |
| 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 | Equity customer for at least a month or other bank statement |
| Other (2) | Purchased asset is used as loan security |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 8 |
| # Regions for this product | 8 |
| Regions Active | Central, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western |
Loan Conditions
Loan Amount
| Currency | KES |
| Minimum loan size | KES 100,000 |
| Maximum loan size | 4,000,000,000 |
Distribution at Disbursement (Est.)
| Loans less than KES 50,000 | 0 |
| KES 50,000-150,000 | 0 |
| KES 150,000-250,000 | 0 |
| KES 250,000-350,000 | 0 |
| KES 350,000-450,000 | 70% |
| Greater than KES 450,000 | 70% |
Loan Term and Grace Period
| Shortest loan term | 1.0 month |
| Longest loan term | 48.0 months |
| Approx average | 48.0 months |
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 | 0 |
| Between 13 and 18 months | 10% |
| Longer than 18 months | 90% |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0 |
Repayment Frequency
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | x |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 8.50% |
| Highest quoted nominal interest | 10.00% |
| Reason(s) why interest rate varies | Client Risk |
| 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 | LACE (Loan Application & Credit Evaluation) Fee |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | 3% for 1st cycle, 2% for multiple cycle loans |
| Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Annual Insurance Fee |
| % of loan amount - min | 0.63% |
| % of loan amount - max | 0.63% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | 0.625% per annum. |
| 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? | No |
Additional Comments
Loan term and fees depend on asset type.
Full Pricing Data
Asset Finance Loan samples
| Sample 3 | | Sample 4 | | Sample 5 |
|---|
| Loan Amount | KES 300,000 | | KES 400,000 | | KES 510,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2013-05-09 | | 2013-05-16 | | 2013-05-24 |
| Loan Term (Months) | 24.0 months | | 24.0 months | | 37.0 months |
| Grace Period (Months) | 0.1 months | | 0.2 months | | 0.1 months |
| Total Cost of Credit | KES 70,875 | | KES 94,500 | | KES 174,037.50 |
| True Price by Comp | | | | | |
| Interest price component | 18.8% | | 18.6% | | 18.5% |
| Fee Component | 2.0% | | 2.1% | | 1.5% |
| Insurance Component | 0.7% | | 0.6% | | 0.4% |
| Tax Component | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 21.5% | | 21.3% | | 20.4% |
| Transparency Index | 40 | | 40 | | 42 |
| | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF |
Asset Finance Loan Price Graphs
