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Institution
Data approved: 2010-09-13
Data version: 1
Age of data: 172 months
Key Statistics
| Outstanding portfolio (KES) | KES 3,200,000,000 |
| Portfolio (USD) | USD 38,647,343 |
| Active Clients with Loans | 30,000 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 60% - 80% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
Loans available to individuals in employement and SMEs for purposes of personal development and consumption. These includes salary based loans, agricultural loans etc
Loan Purpose
| Any purpose | x |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | x |
| 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 | x |
| Must be specific age group | |
| Other | Borrower must be under insurable age limit of 65 years |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active | |
Loan Conditions
Loan Amount
| Currency | KES |
| Minimum loan size | KES 10,000 |
| Maximum loan size | 1,000,000 |
Loan Term and Grace Period
| Shortest loan term | 6.0 months |
| Longest loan term | 48.0 months |
| Approx average | 24.0 months |
Grace Period
| Grace period usage | 10% |
| Average grace period | 1.0 month |
Repayment Frequency
| Daily | |
| Weekly | |
| Every 2 weeks | |
| 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 | 16.00% |
| Highest quoted nominal interest | 18.00% |
| Reason(s) why interest rate varies | Client Risk |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Processing Fee |
| % of loan amount - min | 5.75% |
| % of loan amount - max | 5.75% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
Ongoing Fees
| Fee 1 |
|---|
| Description | Standing Order Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 130 |
| Fixed amount - max | 130 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
Upfront Insurance Fees
| Ins 1 |
|---|
| Description | Insurance fee |
| % of loan amount - min | 3.00% |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | 0.3% of the loan amount x number of months |
| 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
One extra standing order fee charged at the end of the loan term for loan closure.
Full Pricing Data
Consumer Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
|---|
| Loan Amount | KES 12,000 | | KES 27,000 | | KES 50,000 | | KES 103,000 | | KES 200,000 | | KES 285,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2010-02-11 | | 2009-12-21 | | 2009-12-30 | | 2010-01-15 | | 2010-01-13 | | 2009-12-10 |
| Loan Term (Months) | 11.0 months | | 24.0 months | | 12.0 months | | 14.0 months | | 49.0 months | | 62.0 months |
| Grace Period (Months) | 1.0 month | | 1.0 month | | 0.0 months | | 1.0 month | | 1.0 month | | 1.0 month |
| Total Cost of Credit | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| True Price by Comp | | | | | | | | | | | |
| Interest and Fee Component | 71.0% | | 42.8% | | 42.4% | | 33.4% | | 24.6% | | 23.3% |
| Insurance Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 71.0% | | 42.8% | | 42.4% | | 33.4% | | 24.6% | | 23.3% |
| Transparency Index | 23 | | 37 | | 38 | | 48 | | 65 | | 69 |
| | | | | | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
Consumer Loan Price Graphs
