2. CRAN
Please note that the information you are viewing is 139 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Family Bank
Please note that the information you are viewing is 172 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

CRAN Microfinance Head OfficeCape Coast, CentralP.O. Box UC 97
Data approved: 2013-02-18
Data version: 2
Age of data: 139 months
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Institution

Family Bank Ltd. NairobiKenyaP.O. Box 74145
Data approved: 2010-09-13
Data version: 1
Age of data: 172 months

Product

Individual Loan Product 2 of 2 « Prev | Next »

Product

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Product Summary

Number borrowers379
Loan Amount (range)GHS 200 - 10,000
Loan Term (range)6 - 12
Other Services (text summary)Credit Educ, Credit Ins, Savings promotion
Annual Interest & Method42.00% annual, Flat
Fees1.75% upfront
Insurance1.25% upfront
TaxNone
Comp Dep20.00% upfront
Range of pricing 
Interest Price Component64.5% - 68.6%
Fee Component3.7% - 8.8%
Insurance Component2.6% - 6.4%
Tax Component Range0
Full APR (int fee ins tax dep)106.1% - 112.0%
Transparency Index (min/max)37 - 40
Transparency Index (average)37

Product Summary

2,000
KES 300,000 - 20,000,000
6 - 48
Credit Educ, Credit Ins, Tech Asst Visits
10.6% annual, Flat
3 fees
None
None
N/A
 
N/A
23.8% - 27.7% (Int+Fee)
0
0
23.8% - 27.7%
23 - 77
41

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 438,233
Portfolio (USD)USD 222,453.30
Active Clients with Loans379
Approximate % Female Clients60% - 80%
Approximate % Urban Clients40% - 60%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
These loans are given to people who have the necessary collateral or gurantor, and do not want to be in a group.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurancex
Workplace visits
Business training
Other training
OtherSavings promotion
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution3
# Regions for this product3
Regions ActiveCentral Region, Western Region, Volta Region

Product Details

Key Statistics
Outstanding portfolio (KES)KES 1,100,000,000
Portfolio (USD)USD 13,285,024.15
Active Clients with Loans2,000
Approximate % Female Clients20% - 40%
Approximate % Urban Clients60% - 80%
Methodology
Individualx
Solidarity groupx
Village banking
Self help group
OtherLimited companies
Description
Credit product to indviduals and SMEs for purchase of motor vehicles
Loan Purpose
Any purpose
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
OtherOnly for purposes of buying assets(motor vehicles)
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurancex
Workplace visitsx
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institutionN/A
# Regions for this productN/A
Regions Active

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 200
Maximum loan size10,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,00050%
GHS 1,000-5,00040%
GHS 5,000-7,50010%
GHS 7,500-10,0000
GHS 10,000-13,0000
Greater than GHS 13,0000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term12.0 months
Approx average6.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months70%
Between 7 and 9 months30%
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weeklyx
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyKES
Minimum loan sizeKES 300,000
Maximum loan size20,000,000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term48.0 months
Approx average24.0 months
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest42.00%
Highest quoted nominal interest42.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min1.75%
% of loan amount - max1.75%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Fee
% of loan amount - min1.25%
% of loan amount - max1.25%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited20.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid0
Maximum interest rate paid0
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest10.60%
Highest quoted nominal interest10.60%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionProcessing FeeLegal fee
% of loan amount - min3.00%0
% of loan amount - max3.00%0
OR, Fixed amount - min02,000
Fixed amount - max02,000
Reason for variationN/AN/A
Appears on Repayment Sched?NoNo
Ongoing Fees
Fee 1
DescriptionLedger Fee
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min200
Fixed amount - max200
Reason for variationN/A
Appears on Repayment Sched?Yes
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No
Additional Comments
The loan amount forms 6% of the value of the asset/motor vehicle financed; hence the borrower contributes 4% of the value. Insurance fee is 0.3% of the loan amount multiplied by number of months in loan term.

Full Pricing Data

Individual Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountGHS 400GHS 800GHS 1,500GHS 3,000GHS 6,000GHS 10,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2012-12-122012-06-222013-01-232012-12-212013-01-302012-12-17
Loan Term (Months)6.0 months6.0 months6.0 months6.0 months12.0 months6.0 months
Grace Period (Months)0.1 months0.0 months0.1 months0.0 months0.0 months0.0 months
Total Cost of CreditGHS 96GHS 192GHS 360GHS 720GHS 2,700GHS 2,400
True Price by Comp           
Interest price component66.8%66.2%67.1%67.0%68.6%66.9%
Fee Component6.3%6.3%6.4%6.4%3.7%6.4%
Insurance Component4.6%4.6%4.6%4.6%2.6%4.6%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component33.7%33.7%33.8%34.0%31.2%33.8%
Full APR (int fee ins tax dep)111.4%110.8%111.9%112.0%106.1%111.7%
Transparency Index383838384038
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF

Full Pricing Data

Asset Finance Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountKES 280,000KES 315,000KES 390,000KES 392,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2009-12-242010-01-072010-02-042010-01-08
Loan Term (Months)24.0 months36.0 months24.0 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot Known
True Price by Comp       
Interest and Fee Component25.8%23.8%26.0%27.7%
Insurance Component0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)25.8%23.8%26.0%27.7%
Transparency Index41454138
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
Individual Loan Price Graphs


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Key Statistics
# Samples:
# Products
# Institutions
# Countries
# Borrowers
Loan Portfolio (USD)
% Products using declining balance
% Products with one or more fee
% Products with one or more insurances
% Products with compulsory deposits
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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