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Institution
Data approved: 2013-05-31
Data version: 2
Age of data: 138 months
Key Statistics
Outstanding portfolio (KES) | KES 15,968,913.11 |
Portfolio (USD) | USD 192,861.27 |
Active Clients with Loans | 219 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 60% - 80% |
Methodology
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other | |
Description
Given to groups between 5 to 10 members. Customers are required to have a lease agreement, bank account statement and utility bills. Customers must have been in business for longer than 12 months.
Loan Purpose
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) | |
Included Services
Credit education | x |
Group meetings | x |
Credit insurance | x |
Workplace visits | |
Business training | |
Other training | x |
Other | Fire/Burglary Insurance |
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 | |
Must be specific age group | |
Other | Must have run a business for at least 24 months |
Other (2) | |
Portfolio Size by Product
Geographic Coverage
# Regions for this institution | 4 |
# Regions for this product | 4 |
Regions Active | Nairobi, Nyanza, Rift Valley, Western |
Loan Conditions
Loan Amount
Currency | KES |
Minimum loan size | KES 50,000 |
Maximum loan size | 500,000 |
Distribution at Disbursement (Est.)
Loans less than KES 50,000 | 15% |
KES 50,000-150,000 | 50% |
KES 150,000-250,000 | 20% |
KES 250,000-350,000 | 10% |
KES 350,000-450,000 | 5% |
Greater than KES 450,000 | 5% |
Loan Term and Grace Period
Shortest loan term | 6.0 months |
Longest loan term | 36.0 months |
Approx average | DK |
Distribution at Disbursement (Est.)
Loans 3 months or less | 0 |
Between 4 and 6 months | 15% |
Between 7 and 9 months | 5% |
Between 10 and 12 months | 70% |
Between 13 and 18 months | 10% |
Longer than 18 months | 0 |
Grace Period
Grace period usage | 10% |
Average grace period | DK |
Repayment Frequency
Daily | |
Weekly | x |
Every 2 weeks | x |
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 | 22.00% |
Highest quoted nominal interest | 22.00% |
Reason(s) why interest rate varies | Branch, 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 | | Fee 2 |
---|
Description | Loan Application Fee | | Chattels Fee |
% of loan amount - min | 0 | | 0 |
% of loan amount - max | 2.00% | | 0 |
OR, Fixed amount - min | 1,000 | | 1,300 |
Fixed amount - max | 0 | | 1,300 |
Reason for variation | 2% with KES 1000 minimum | | Charged on all loans |
Appears on Repayment Sched? | Yes | | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
---|
Description | Insurance Fee |
% of loan amount - min | 1.60% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | <12 month =1.6%, 13-24 months=1.75%, 25+ months=3%. Either upfront or continuing. |
Appears on Repayment Sched? | Yes |
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? | No |
Do borrowers control deposit in their group? | No |
Deposit BEFORE or AT Disbursement
% loan amount deposited | 25.00% |
or, Fixed-amount deposited | 0 |
Deposits DURING period payments
% loan amount deposited | 0 |
or, Fixed-amount deposited | KES 200 |
Conditions on access to deposit | Access During |
Interest Paid on Deposit
Minimum interest rate paid | 1.00% |
Maximum interest rate paid | 1.00% |
Interest payment frequency | Annually |
Taxes
Are taxes charged on this product? | No |
Additional Comments
Interest rate revised to 20% flat as of 17-June-2013.
Full Pricing Data
Nguzo Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 |
---|
Loan Amount | KES 50,000 | | KES 100,000 | | KES 185,000 | | KES 295,000 | | KES 400,000 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2013-05-27 | | 2013-05-15 | | 2013-05-29 | | 2013-05-03 | | 2013-04-30 |
Loan Term (Months) | 12.0 months | | 12.0 months | | 18.0 months | | 24.0 months | | 24.0 months |
Grace Period (Months) | 0.2 months | | 0.7 months | | 0.7 months | | 0.5 months | | 0.5 months |
Total Cost of Credit | KES 14,069.86 | | KES 28,759.73 | | KES 70,198 | | KES 141,364.38 | | KES 191,217.81 |
True Price by Comp | | | | | | | | | |
Interest price component | 39.5% | | 41.0% | | 38.4% | | 37.3% | | 37.3% |
Fee Component | 9.8% | | 6.7% | | 3.8% | | 2.7% | | 2.6% |
Insurance Component | 3.5% | | 3.3% | | 1.8% | | 1.8% | | 1.8% |
Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 59.7% | | 41.6% | | 32.0% | | 26.4% | | 25.8% |
Full APR (int fee ins tax dep) | 112.5% | | 92.6% | | 76.0% | | 68.2% | | 67.5% |
Transparency Index | 20 | | 24 | | 29 | | 32 | | 33 |
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Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF |