Equity Bank - Agricultural Commercial Loan - MFTransparency.org Truth In Lending Tables

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Institution

Equity Bank P.O. Box 75104-00200Hospital Road, Equity Centre, 9th FloorNairobi

Data approved: 2013-09-23

Data version: 2

Age of data: 142 months

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Product

Agricultural Commercial Loan Product 1 of 10 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (KES)	KES 85,485,991
Portfolio (USD)	USD 1,032,439.51
Active Clients with Loans	418
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	0% - 20%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

This is a medium term lending to farmers to assist them in meeting various needs including farm machinery, tools and any other farm and social development needs. Repayments can be negotiated to match the seasonality of proceeds.

Loan Purpose

Any purpose
Income generation
Mortgage/housing
Consumer loan
Agriculture	x
Education
Other household finance
Other	Purchase of farm inputs and farm machinery.
Other (2)

Included Services

Credit education
Group meetings
Credit insurance	x
Workplace visits
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
Must be specific age group
Other	Must be in commercial farming for over a year
Other (2)	Active account with Equity

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	8
# Regions for this product	8
Regions Active	Central, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western

Loan Conditions

Loan Amount

Currency	KES
Minimum loan size	KES 100,000
Maximum loan size	4,000,000,000

Distribution at Disbursement (Est.)

Loans less than KES 50,000	0
KES 50,000-150,000	5%
KES 150,000-250,000	30%
KES 250,000-350,000	40%
KES 350,000-450,000	20%
Greater than KES 450,000	20%

Loan Term and Grace Period

Shortest loan term	1.0 month
Longest loan term	36.0 months
Approx average	18.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	10%
Between 7 and 9 months	20%
Between 10 and 12 months	20%
Between 13 and 18 months	20%
Longer than 18 months	30%

Grace Period

Grace period usage	0
Average grace period	0

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	1.50%
Highest quoted nominal interest	1.50%
Interest rate period	Monthly
Interest Rate Calculation Method	Decl Bal
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	LACE (Loan Application & Credit Evaluation) Fee
% of loan amount - min	2.00%
% of loan amount - max	3.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	3% for 1st cycle, 2% for multiple cycle loans
Appears on Repayment Sched?	Yes

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Annual Insurance Fee
% of loan amount - min	0.63%
% of loan amount - max	0.63%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	0.625% per annum.
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

Are taxes charged on this product?

Full Pricing Data

Agricultural Commercial Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5
Loan Amount	KES 100,000	KES 180,000	KES 300,000	KES 400,000	KES 500,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2013-05-30	2013-05-29	2013-05-15	2013-05-17	2013-05-16
Loan Term (Months)	4.9 months	12.0 months	37.0 months	36.0 months	37.0 months
Grace Period (Months)	-0.1 months	-0.1 months	0.0 months	-0.2 months	0.0 months
Total Cost of Credit	KES 10,699.38	KES 24,351.19	KES 109,241.38	KES 142,970.67	KES 181,590.01
True Price by Comp
Interest price component	19.7%	19.8%	19.8%	19.8%	19.8%
Fee Component	5.2%	3.9%	1.5%	1.5%	1.5%
Insurance Component	1.6%	1.2%	0.4%	0.5%	0.4%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	0.0%	0.0%	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	26.5%	24.9%	21.7%	21.8%	21.7%
Transparency Index	68	72	83	83	83

Original Repayment Schedule	PDF	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF	PDF

Agricultural Commercial Loan Price Graphs

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
AGFS	200	47,000	2	159
Ahantaman RB	23,800	9,896,000	4	141
APED	13,700	1,876,000	2	141
ASA Initiative	4,400	577,000	4	141
ASA-Ghana	71,600	18,385,000	2	141
ASPI	800	88,000	6	141
Atwima Kwanwoma	3,800	1,788,000	2	141
Baobab	5,100	967,000	2	141
BestFUND	13,000	4,172,000	3	141
Bonzali Rural	10,400	1,691,000	4	159
CashPhase	83	135,000	2	141
CASUD	1,100	524,000	1	141
CEDEF	500	54,000	4	141
CFF	100	13,000	1	141
CRAN	3,600	1,019,000	2	141
DQF	1,700	63,000	2	141
EASL	9,200	11,409,000	6	141
East Mamprusi	12,500	2,268,000	4	141
ELDA	0	0	0	141
EMPRETEC Ghana	200	56,000	2	141
FASL	13,500	14,047,000	8	141
Grameen Ghana	9,500	507,000	3	141
ID-Ghana	5,600	953,000	3	141
Innovative Finance	2,700	354,000	3	141
Kraban Support	7,700	781,000	5	159
KRB	4,000	6,350,000	3	141
Lower Pra RB	34,000	6,316,000	3	159
Maata-N-Tudu	12,000	941,000	4	141
Mail Finance	300	288,000	1	141
Markaz	0	0	0	141
Markaz Al Bishara	100	17,000	1	141
MicrofinPlus Gh	1,100	251,000	2	141
Nwabiagya RB	4,000	2,265,000	3	141
OISL	62,000	27,232,000	9	141
Pro Credit	0	0	0	141
Rich Step	100	101,000	1	141
SAT	147,600	29,359,000	4	141
Sekam Trust	600	137,000	2	141
Simli Pong	8,900	463,000	3	159
SS Ghana	200	35,000	1	141
TCCU	100	32,000	3	141
The Bridge	400	32,000	3	159
Union RB	3,800	2,361,000	4	141

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

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
	Greater than:
	Less or equal to:
	From 0 to
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Institution

Product

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Full Pricing Data

Agricultural Commercial Loan samples

Agricultural Commercial Loan Price Graphs

Total Borrowers of Samples

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