2. Lower Pra RB
Please note that the information you are viewing is 157 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Opportunity Kenya
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

Lower Pra Rural Bank Limited ShamaWestern RegionPO Box SH 18
Data approved: 2011-12-07
Data version: 1
Age of data: 157 months

Institution

Opportunity Kenya Limited Geomaps Center, 1st Floor, Matumbato Road, Upper HillP.O. Box 19497Nairobi
Data approved: 2013-05-31
Data version: 2
Age of data: 141 months
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Product Summary

Number borrowers17,746
Loan Amount (range)GHS 500 - 11,000
Loan Term (range)1 - 60
Other Services (text summary)Credit Ins
Annual Interest & Method28.00% annual, Flat
Fees2 fees
InsuranceNone
TaxNone
Comp DepN/A
Range of pricing 
Interest Price ComponentN/A
Fee Component47.4% - 63.0% (Int+Fee)
Insurance Component0
Tax Component Range0
Full APR (int fee ins tax dep)47.4% - 63.0%
Transparency Index (min/max)19 - 59
Transparency Index (average)48

Product Summary

165
KES 5,000 - 2,000,000
6 - 36
Credit Educ, Group Mtgs, Credit Ins, Other Training
22.0% annual, Flat
500.00-0.00 upfront upfront
1.60%-3.00% upfront
None
15.0% upfront
 
29.8% - 41.0%
2.6% - 20.5%
1.8% - 6.9%
0
61.0% - 71.9%
16 - 36
34

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 7,673,776
Portfolio (USD)USD 3,895,317.77
Active Clients with Loans17,746
Approximate % Female Clients40% - 60%
Approximate % Urban Clients80% - 100%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
This loan is for individuals who have their salaries passing through this bank for at least 2 months. Sometimes based on amount of salary received.Take between 2 to 4 guarantors.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
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 institutionN/A
# Regions for this productN/A
Regions Active

Product Details

Key Statistics
Outstanding portfolio (KES)KES 13,325,138.18
Portfolio (USD)USD 160,931.62
Active Clients with Loans165
Approximate % Female Clients20% - 40%
Approximate % Urban Clients60% - 80%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Given to group and individual clients who require financing to acquire income-generating assets to expand and support businesses. Loan disbursement is based on a asupplier's invoice and is paid directly to the supplier.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visits
Business training
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 institution4
# Regions for this product4
Regions ActiveNairobi, Nyanza, Rift Valley, Western

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 500
Maximum loan size11,000
Loan Term and Grace Period
Shortest loan term1.0 month
Longest loan term60.0 months
Approx average36.0 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

Loan Conditions

Loan Amount
CurrencyKES
Minimum loan sizeKES 5,000
Maximum loan size2,000,000
Distribution at Disbursement (Est.)
Loans less than KES 50,0005%
KES 50,000-150,00060%
KES 150,000-250,00010%
KES 250,000-350,0005%
KES 350,000-450,0000
Greater than KES 450,0000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term36.0 months
Approx averageDK
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months5%
Between 7 and 9 months5%
Between 10 and 12 months70%
Between 13 and 18 months20%
Longer than 18 months0
Grace Period
Grace period usage10%
Average grace periodDK
Repayment Frequency
Daily
Weeklyx
Every 2 weeksx
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 interest28.00%
Highest quoted nominal interest28.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionLoan Processing FeeCommitment Fee
% of loan amount - min05.00%
% of loan amount - max05.00%
OR, Fixed amount - min30
Fixed amount - max30
Reason for variationN/A
Appears on Repayment Sched?YesYes
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 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

Pricing Information

Interest
Lowest quoted nominal interest22.00%
Highest quoted nominal interest22.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionLoan Application FeeChattels Fee
% of loan amount - min00
% of loan amount - max2.00%0
OR, Fixed amount - min5000
Fixed amount - max01,300
Reason for variation2% with KES 500 minimumCharged only on loans over KES 100,000
Appears on Repayment Sched?YesYes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Fee
% of loan amount - min1.60%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
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 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 deposited15.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositAccess During
Interest Paid on Deposit
Minimum interest rate paid1.00%
Maximum interest rate paid1.00%
Interest payment frequencyAnnually
Taxes
Are taxes charged on this product?No
Additional Comments
This loan is paid directly to the supplier. Interest rate revised to 20% flat as of 17-June-2013.

Full Pricing Data

Salary Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5
Loan AmountGHS 800GHS 1,300GHS 4,000GHS 4,000GHS 10,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2011-06-302011-05-202011-05-302011-05-302011-04-14
Loan Term (Months)12.0 months12.0 months18.0 months18.0 months60.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot KnownNot Known
True Price by Comp         
Interest and Fee Component63.0%62.4%58.6%58.6%47.4%
Insurance Component0.0%0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)63.0%62.4%58.6%58.6%47.4%
Transparency Index4445484859
          
Original Repayment SchedulePDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDF

Full Pricing Data

Asset Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5
Loan AmountKES 15,473KES 28,700KES 50,000KES 100,000KES 279,500
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2013-05-232013-05-012013-05-202013-05-222013-03-20
Loan Term (Months)9.0 months6.0 months12.0 months12.0 months12.0 months
Grace Period (Months)0.5 months0.2 months0.0 months0.5 months0.7 months
Total Cost of CreditKES 3,103.08KES 4,164.25KES 12,769.86KES 25,479.45KES 72,683.53
True Price by Comp         
Interest price component38.6%39.1%40.4%38.6%37.9%
Fee Component5.3%7.8%4.3%4.1%5.0%
Insurance Component4.3%6.4%3.5%3.3%3.3%
Tax Component0.0%0.0%0.0%0.0%0.0%
Deposit Component16.1%18.6%16.7%15.2%14.8%
Full APR (int fee ins tax dep)64.3%71.9%64.9%61.2%61.0%
Transparency Index3431343636
          
Original Repayment SchedulePDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDF
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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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