| Number borrowers | 339 |
| Loan Amount (range) | KES 300,000 - 4,000,000,000 |
| Loan Term (range) | 1 - 60 |
| Other Services (text summary) | Credit Ins |
| Annual Interest & Method | 18.0%-20.0% annual, Decl Bal |
| Fees | 2.00%-3.00% upfront |
| Insurance | 0.63% upfront |
| Tax | None |
| Comp Dep | N/A |
| Range of pricing | |
| Interest Price Component | 13.4% - 37.3% |
| Fee Component | 0 - 11.0% |
| Insurance Component | 0 - 2.3% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 21.8% - 26.2% |
| Transparency Index (min/max) | 37 - 83 |
| Transparency Index (average) | 75 |
| 2,195,404 |
| INR 12,000 - 25,000 |
| 12 - 24 |
| Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Health Insurance Services , National Pension Scheme collabaration with LIC |
| 24.0%-26.0% annual, Decl Bal |
| 1.00% upfront |
| 1.00%-1.05% upfront |
| 12.36% fees |
| N/A |
| 25.4% - 26.0% |
| 2.1% |
| 2.1% |
| 0.2% - 0.3% |
| 29.9% - 30.5% |
| 79 - 80 |
| 79 |
| 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 |
| Outstanding portfolio (INR) | INR 19,966,572,982 |
| Portfolio (USD) | USD 376,727,792.10 |
| Active Clients with Loans | 2,195,404 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | |
| Solidarity group | x |
| 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 | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | x |
| Business training | |
| Other training | |
| Other | Health Insurance Services |
| Other (2) | National Pension Scheme collabaration with LIC |
| No other services |
| Men | |
| Women | x |
| Must run a business | x |
| Must own a home or land | x |
| Must be a salaried worker | |
| Must be specific age group | |
| Household income <60,000 INR | x |
| Household income <120,000 INR | x |
| Must live in rural area | x |
| Must lives in urban area | x |
| Other | Qualify for a test on Financial education |
| Other (2) | Training provided on Financial education |
| # Regions for this institution | 19 |
| # Regions for this product | 19 |
| Regions Active | Andhra Pradesh, Assam, Bihar, Chhattisgarh, Gujarat, Haryana, Himachal PradeshJharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Orissa, Rajasthan, Tamil Nadu, Uttar Pradesh, Uttarakhand, West Bengal, National Capital Territory of Delhi |
| 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 |
| Currency | INR |
| Minimum loan size | INR 12,000 |
| Maximum loan size | 25,000 |
| Loans less than INR 5,000 | 0 |
| INR 5,000-15,000 | 80% |
| INR 15,000-25,000 | 20% |
| INR 25,000-35,000 | 0 |
| INR 35,000-45,000 | 0 |
| Greater than INR 45,000 | 0 |
| Shortest loan term | 12.0 months |
| Longest loan term | 24.0 months |
| Approx average | 12.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 40% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 60% |
| Grace period usage | 100% |
| Average grace period | 0.3 months |
| Daily | |
| Weekly | x |
| 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 |
| Lowest quoted nominal interest | 24.00% |
| Highest quoted nominal interest | 26.00% |
| Reason(s) why interest rate varies | Branch, 24% p.a on the loans disbursed in the state of AP. In Non AP states interest rate is 26% p.a |
| 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 | Processing Fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Credit Life Insurance |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.05% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | 1% for one year loans, 1.05% for 2 year loans |
| Appears on Repayment Sched? | Yes |
| 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? | Yes |
| Percentage of fees | 12.4% |
| All or some fees taxed | Some |
| 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 |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 15,000 | INR 15,000 | INR 15,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2012-11-09 | 2012-11-17 | 2012-11-20 | ||
| Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | ||
| Grace Period (Months) | 0.2 months | 0.2 months | 0.2 months | ||
| Total Cost of Credit | INR 2,318 | INR 2,371 | INR 2,382 | ||
| True Price by Comp | |||||
| Interest price component | 25.4% | 26.0% | 26.0% | ||
| Fee Component | 2.1% | 2.1% | 2.1% | ||
| Insurance Component | 2.1% | 2.1% | 2.1% | ||
| Tax Component | 0.3% | 0.3% | 0.2% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 29.9% | 30.5% | 30.4% | ||
| MFIN MFI Earning (Annualised) | 27.5% | 28.1% | 28.1% | ||
| MFIN Cost to Borrower (Annualised) | 29.9% | 30.5% | 30.4% | ||
| Transparency Index | 80 | 79 | 79 | ||
| MFIN Transparency Index | 100 | 100 | 100 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
|---|---|---|---|---|---|---|---|
| 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 | ||||||
| to | ||||||
| to | ||||||
| to ∞ | ||||||
