2. FASL
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. KADET
Please note that the information you are viewing is 141 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

First Allied Savings and Loans Limited Box 5308OTB 662 Asomfo Road, AdumKumasi, Ashanti
Data approved: 2013-07-15
Data version: 1
Age of data: 139 months

Institution

Kenya Agency for Development & Enterprise Technology P.O. Box 1676Nairobi
Data approved: 2013-06-25
Data version: 2
Age of data: 141 months
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Product

Distance Banking Product 8 of 9 « Prev | Next »

Product

School Fees Loan Product 3 of 4 « Prev | Next »

Product Summary

Number borrowers6,833
Loan Amount (range)GHS 1,500 - 10,000
Loan Term (range)3 - 12
Other Services (text summary)Group Mtgs, Business Training, Other Training
Annual Interest & Method36.0% annual, Flat
Fees3.00% upfront
InsuranceNone
TaxNone
Comp Dep10.0%-25.0% upfront
Range of pricing 
Interest Price Component31.3% - 66.8%
Fee Component1.5% - 10.9%
Insurance Component0
Tax Component Range0
Full APR (int fee ins tax dep)109.4% - 111.6%
Transparency Index (min/max)27 - 76
Transparency Index (average)32

Product Summary

165
KES 5,000 - 150,000
3 - 12
Credit Ins
18.0%-22.0% annual, Flat
3.00% upfront
1.20% upfront
None
N/A
 
19.3% - 39.1%
3.3% - 11.5%
1.4% - 4.7%
0
45.8% - 51.1%
17 - 51
37

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 4,395,023.82
Portfolio (USD)USD 2,230,976.56
Active Clients with Loans6,833
Approximate % Female Clients40% - 60%
Approximate % Urban Clients20% - 40%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Individual members of a group make minimum daily savings for eight weeks after which they are given loans individually. Group members make joint guarantees, with at least five members in each group.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculturex
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetingsx
Credit insurance
Workplace visits
Business trainingx
Other trainingx
Other
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 institution6
# Regions for this product6
Regions ActiveGreater Accra Region, Central Region, Western Region, Eastern Region, Ashanti Region, Brong Ahafo Region

Product Details

Key Statistics
Outstanding portfolio (KES)KES 8,468,382
Portfolio (USD)USD 102,275.14
Active Clients with Loans165
Approximate % Female Clients60% - 80%
Approximate % Urban Clients40% - 60%
Methodology
Individualx
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
Educationx
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetings
Credit insurancex
Workplace visits
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 institution7
# Regions for this product7
Regions ActiveCentral, Coast, Eastern, Nairobi, Nyanza, Rift Valley, Western

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 1,500
Maximum loan size10,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,0000
GHS 1,000-5,00030%
GHS 5,000-7,50050%
GHS 7,500-10,00020%
GHS 10,000-13,0000
Greater than GHS 13,0000
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term12.0 months
Approx average6.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less10%
Between 4 and 6 months30%
Between 7 and 9 months20%
Between 10 and 12 months40%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Dailyx
Weeklyx
Every 2 weeksx
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 5,000
Maximum loan size150,000
Distribution at Disbursement (Est.)
Loans less than KES 50,00060%
KES 50,000-150,00040%
KES 150,000-250,0000
KES 250,000-350,0000
KES 350,000-450,0000
Greater than KES 450,0000
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term12.0 months
Approx average6.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months40%
Between 7 and 9 months20%
Between 10 and 12 months40%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period1.0 month
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 interest36.00%
Highest quoted nominal interest36.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionCommitment Fee
% of loan amount - min3.00%
% of loan amount - max3.00%
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
This product has no upfront insurance fees
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 deposited10.00% - 25.00%
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 paid5.00%
Maximum interest rate paid5.00%
Interest payment frequencyQuarterly
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest18.00%
Highest quoted nominal interest22.00%
Reason(s) why interest rate variesTime as Client
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionLoan Application Fee
% of loan amount - min3.00%
% of loan amount - max3.00%
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
DescriptionAnnual Loan Protection Fee
% of loan amount - min1.20%
% of loan amount - max1.20%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
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
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

Distance Banking samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountGHS 1,800GHS 3,000GHS 5,700GHS 9,500
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-05-242013-05-232013-06-282013-07-03
Loan Term (Months)8.0 months7.0 months6.0 months6.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditGHS 486GHS 716.01GHS 1,197GHS 1,993.02
True Price by Comp       
Interest price component58.7%57.9%57.8%57.3%
Fee Component8.6%9.6%10.9%10.8%
Insurance Component0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component42.1%42.3%42.9%42.6%
Full APR (int fee ins tax dep)109.4%109.8%111.6%110.7%
Transparency Index33333233
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF

Full Pricing Data

School Fees Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountKES 10,000KES 30,000KES 55,000KES 90,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-05-142013-04-222013-04-192013-05-09
Loan Term (Months)6.0 months6.0 months12.0 months12.0 months
Grace Period (Months)0.2 months0.0 months-0.1 months0.1 months
Total Cost of CreditKES 1,520KES 4,560KES 14,410KES 23,580
True Price by Comp       
Interest price component34.2%36.0%38.9%37.4%
Fee Component10.1%10.7%6.2%5.9%
Insurance Component4.1%4.4%2.6%2.5%
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)48.4%51.1%47.7%45.8%
Transparency Index37353839
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
Distance Banking 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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