2. Equity Bank
Please note that the information you are viewing is 142 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Union RB
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

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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Institution

Union Rural Bank Limited Head OfficeSenya Bereku, Central RegionP.O. Box 5
Data approved: 2013-02-26
Data version: 2
Age of data: 141 months
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Product

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

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Product Summary

Number borrowers418
Loan Amount (range)KES 100,000 - 4,000,000,000
Loan Term (range)1 - 36
Other Services (text summary)Credit Ins
Annual Interest & Method18.0% annual, Decl Bal
Fees2.00%-3.00% upfront
Insurance0.63% upfront
TaxNone
Comp DepN/A
Range of pricing 
Interest Price Component13.4% - 37.3%
Fee Component0 - 11.0%
Insurance Component0 - 2.3%
Tax Component Range0
Full APR (int fee ins tax dep)21.7% - 26.5%
Transparency Index (min/max)37 - 83
Transparency Index (average)77

Product Summary

1,889
GHS 200 - 25,000
1 - 12
Credit Educ, Business Training
32.00% annual, Flat
2 fees
None
None
N/A
 
51.3% - 85.2%
6.0% - 24.9%
0
0
57.3% - 73.4%
37 - 56
47

Product Details

Key Statistics
Outstanding portfolio (KES)KES 85,485,991
Portfolio (USD)USD 1,032,439.51
Active Clients with Loans418
Approximate % Female Clients20% - 40%
Approximate % Urban Clients0% - 20%
Methodology
Individualx
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
Agriculturex
Education
Other household finance
OtherPurchase of farm inputs and farm machinery.
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
OtherMust 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 institution8
# Regions for this product8
Regions ActiveCentral, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 3,501,946.67
Portfolio (USD)USD 1,777,637.90
Active Clients with Loans1,889
Approximate % Female Clients40% - 60%
Approximate % Urban Clients60% - 80%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Designed for salaried individuals.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Educationx
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurance
Workplace visits
Business trainingx
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried workerx
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution2
# Regions for this product2
Regions ActiveGreater Accra Region, Central Region

Loan Conditions

Loan Amount
CurrencyKES
Minimum loan sizeKES 100,000
Maximum loan size4,000,000,000
Distribution at Disbursement (Est.)
Loans less than KES 50,0000
KES 50,000-150,0005%
KES 150,000-250,00030%
KES 250,000-350,00040%
KES 350,000-450,00020%
Greater than KES 450,00020%
Loan Term and Grace Period
Shortest loan term1.0 month
Longest loan term36.0 months
Approx average18.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months10%
Between 7 and 9 months20%
Between 10 and 12 months20%
Between 13 and 18 months20%
Longer than 18 months30%
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
CurrencyGHS
Minimum loan sizeGHS 200
Maximum loan size25,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,0000
GHS 1,000-5,0000
GHS 5,000-7,50010%
GHS 7,500-10,00010%
GHS 10,000-13,00015%
Greater than GHS 13,00015%
Loan Term and Grace Period
Shortest loan term1.0 month
Longest loan term12.0 months
Approx average12.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months100%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period1.0 month
Repayment Frequency
Daily
Weeklyx
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 interest1.50%
Highest quoted nominal interest1.50%
Interest rate periodMonthly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionLACE (Loan Application & Credit Evaluation) Fee
% of loan amount - min2.00%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation3% 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
DescriptionAnnual Insurance Fee
% of loan amount - min0.63%
% of loan amount - max0.63%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation0.625% per annum.
Appears on Repayment Sched?No
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 interest32.00%
Highest quoted nominal interest32.00%
Reason(s) why interest rate variesClient Risk
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 Form FeeCommitment Fee
% of loan amount - min05.00%
% of loan amount - max05.00%
OR, Fixed amount - min50
Fixed amount - max50
Reason for variationN/AN/A
Appears on Repayment Sched?NoYes
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

Full Pricing Data

Agricultural Commercial Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5
Loan AmountKES 100,000KES 180,000KES 300,000KES 400,000KES 500,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2013-05-302013-05-292013-05-152013-05-172013-05-16
Loan Term (Months)4.9 months12.0 months37.0 months36.0 months37.0 months
Grace Period (Months)-0.1 months-0.1 months0.0 months-0.2 months0.0 months
Total Cost of CreditKES 10,699.38KES 24,351.19KES 109,241.38KES 142,970.67KES 181,590.01
True Price by Comp         
Interest price component19.7%19.8%19.8%19.8%19.8%
Fee Component5.2%3.9%1.5%1.5%1.5%
Insurance Component1.6%1.2%0.4%0.5%0.4%
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)26.5%24.9%21.7%21.8%21.7%
Transparency Index6872838383
          
Original Repayment SchedulePDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDF

Full Pricing Data

Salary Loan samples
Sample 1Sample 2Sample 3
Loan AmountGHS 300GHS 1,500GHS 3,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2012-12-042013-02-072012-12-17
Loan Term (Months)12.0 months12.0 months24.0 months
Grace Period (Months)-0.5 months-0.6 months0.1 months
Total Cost of CreditGHS 116GHS 560GHS 2,075
True Price by Comp     
Interest price component58.0%59.5%51.3%
Fee Component15.4%12.6%6.0%
Insurance Component0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%
Full APR (int fee ins tax dep)73.4%72.1%57.3%
Transparency Index444456
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF
Agricultural Commercial Loan Price Graphs


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Salary Loan 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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