Outstanding portfolio (KES) | KES 58,938,425 |
Portfolio (USD) | USD 711,816.73 |
Active Clients with Loans | 339 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 40% - 60% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | |
Group meetings | |
Credit insurance | x |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services |
Men | x |
Women | x |
Must run a business | x |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | Operated the business for over a year |
Other (2) | Active account for over 6 mos with Equity or other bank |
# Regions for this institution | 8 |
# Regions for this product | 7 |
Regions Active | Central, Coast, Eastern, Nairobi, Nyanza, Rift Valley, Western |
Currency | KES |
Minimum loan size | KES 300,000 |
Maximum loan size | 4,000,000,000 |
Loans less than KES 50,000 | 0 |
KES 50,000-150,000 | 0 |
KES 150,000-250,000 | 0 |
KES 250,000-350,000 | 5% |
KES 350,000-450,000 | 50% |
Greater than KES 450,000 | 50% |
Shortest loan term | 1.0 month |
Longest loan term | 60.0 months |
Approx average | 18.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 5% |
Between 13 and 18 months | 15% |
Longer than 18 months | 80% |
Grace period usage | 0 |
Average grace period | 0 |
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 |
Lowest quoted nominal interest | 18.00% |
Highest quoted nominal interest | 20.00% |
Reason(s) why interest rate varies | Loan Size, 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 |
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? | No |
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 |
Required for | Never |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | N/A |
Do borrowers control deposit in their group? | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | KES 310,000 | KES 400,000 | KES 500,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2013-05-28 | 2013-05-31 | 2013-05-17 | ||
Loan Term (Months) | 12.0 months | 12.0 months | 36.0 months | ||
Grace Period (Months) | 0.3 months | 0.2 months | 0.0 months | ||
Total Cost of Credit | KES 42,798.16 | KES 59,223.56 | KES 181,536.95 | ||
True Price by Comp | |||||
Interest price component | 19.0% | 19.3% | 19.8% | ||
Fee Component | 3.7% | 5.7% | 1.5% | ||
Insurance Component | 1.2% | 1.2% | 0.5% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 0.0% | 0.0% | 0.0% | ||
Full APR (int fee ins tax dep) | 23.9% | 26.2% | 21.8% | ||
Transparency Index | 75 | 69 | 83 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Institution Type | RurBank |
Is this institution regulated? | Yes |
Website address | http://www.akrbank.com/ |
Year established | 1983 |
Head of Institution | Stephen Sarfo Kantanka |
Regions active | Ashanti Region |
# Branches | 6 |
Total Portfolio (nat'l) | GHS 3,523,066 |
Total Portfolio (USD) | USD 1,788,358.38 |
Active clients with loans | 3,892 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 80% - 100% |
Network affiliations | GHAMFIN, ARB Apex |
Funders |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Loan | GHS 500 - 5,000 | 6 - 12 | 60% - 80% | 60% - 80% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Business Training | |||||||
Susu Loan | GHS 300 - 30,000 | 6 - 12 | 40% - 60% | 80% - 100% | Business | Women, Men, Have business | Credit Educ, Business Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Loan | 32.00% annual, Flat | 1 Fee | 1 Ins | None | 25.00% upfront | 62.7% - 65.3% | 108.4% - 114.8% | 28 | ||||||||
Susu Loan | 32.00% annual, Flat | 1 Fee | 0 Ins | None | 33.33% upfront | 66.5% - 69.9% | 139.1% - 152.3% | 22 |
Key Statistics | |
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Loan Portfolio (USD) | |
% Products using declining balance | |
% Products with one or more fee | |
% Products with one or more insurances | |
% Products with compulsory deposits |
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