Institution Type | Bank |
Is this institution regulated? | Yes |
Website address | http://www.equitybank.co.ke/ |
Year established | 1984 |
Head of Institution | Dr. James Mwangi |
Regions active | Central, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western |
# Branches | 112 |
Total Portfolio (nat'l) | KES 126,533,000,000 |
Total Portfolio (USD) | USD 1,528,176,329 |
Active clients with loans | 655,969 |
Approximate % female clients | 20% - 40% |
Approximate % urban clients | 40% - 60% |
Network affiliations | AMFI, WWB, MFN, GNBI |
Funders | Helios EB Investor LP (HELIOS), British-American Investments Company (Kenya) Ltd, IFC |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Agricultural Commercial Loan | KES 100,000 - 4,000,000,000 | 1 - 36 | 20% - 40% | 0% - 20% | Agriculture, Purchase of farm inputs and farm machinery. | Women, Men, Must be in commercial farming for over a year, Active account with Equity | Credit Ins | |||||||
Asset Finance Loan | KES 100,000 - 4,000,000,000 | 1 - 48 | 20% - 40% | 40% - 60% | Business, Loan specifically used for purchase of assets. | Women, Men, Equity customer for at least a month or other bank statement, Purchased asset is used as loan security | Credit Ins | |||||||
Biashara Imara Loan | KES 5,000 - 500,000 | 1 - 18 | 20% - 40% | 20% - 40% | Business | Women, Men, Have business, Operated the business for over a year | Credit Ins, Tech Asst Visits, Business Training | |||||||
Business Loan | KES 300,000 - 4,000,000,000 | 1 - 60 | 20% - 40% | 40% - 60% | Business | Women, Men, Have business, Operated the business for over a year, Active account for over 6 mos with Equity or other bank | Credit Ins | |||||||
Fanikisha - Imara - Loan | KES 30,000 - 500,000 | 1 - 18 | 100% | 20% - 40% | Business | Women, Have business | Credit Ins, Tech Asst Visits, Business Training, Access to business improvement training at discount rates. | |||||||
Fanikisha - Shaba - Loan | KES 1,000 - 300,000 | 6 - 18 | 100% | 0% - 20% | Business | Women | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training | |||||||
Farm Input Loan | KES 1,000 - 100,000 | 1 - 12 | 20% - 40% | 0% | Business, Purchase of farm inputs | Women, Men, Must be in small scale or commercial farming, Active Equity Bank account | Credit Ins | |||||||
Insurance Premium Finance Loan | KES 5,000 - 4,000,000,000 | 4 - 10 | 0% - 20% | 40% - 60% | Can only be used for financing insurance premiums. | Women, Men | ||||||||
Vijana Business Loan | KES 1,000 - 100,000 | 1 - 12 | 20% - 40% | 20% - 40% | Business | Women, Men, Have business, Specific age group, Must have undergone group training, Mustbe 18-35 years old | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Agricultural Commercial Loan | 18.0% annual, Decl Bal | 1 Fee | 1 Ins | None | N/A | 21.3% - 24.9% | 21.7% - 26.5% | 77 | ||||||||
Asset Finance Loan | 8.5%-10.0% annual, Flat | 1 Fee | 1 Ins | None | N/A | 20% - 20.8% | 20.4% - 21.5% | 40 | ||||||||
Biashara Imara Loan | 20.0% annual, Flat | 1 Fee | 1 Ins | None | N/A | 37.4% - 44% | 38.5% - 46.3% | 49 | ||||||||
Business Loan | 18.0%-20.0% annual, Decl Bal | 1 Fee | 1 Ins | None | N/A | 21.3% - 25% | 21.8% - 26.2% | 75 | ||||||||
Fanikisha - Imara - Loan | 20.0% annual, Decl Bal | 1 Fee | 1 Ins | None | N/A | 36.8% - 44.3% | 37.7% - 46.6% | 49 | ||||||||
Fanikisha - Shaba - Loan | 20.0% annual, Decl Bal | 1 Fee | 1 Ins | None | 10.0% upfront | 35.7% - 41.9% | 43.9% - 52.7% | 42 | ||||||||
Farm Input Loan | 19.0% annual, Flat | 1 Fee | 1 Ins | None | N/A | 25.6% - 40.3% | 27.1% - 41.6% | 57 | ||||||||
Insurance Premium Finance Loan | 12.6%-13.5% annual, Flat | 0 Fees | 0 Ins | None | N/A | 27.2% - 27.3% | 27.2% - 27.3% | 46 | ||||||||
Vijana Business Loan | 8.0% annual, Flat | 1 Fee | 1 Ins | None | 15.0% upfront | 13.4% - 13.9% | 20.3% - 21.8% | 38 |
Outstanding portfolio (TZS) | TZS 696,570,261 |
Portfolio (USD) | USD 438,094.50 |
Active Clients with Loans | 247 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 100% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | For house renovation purpose |
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 | x |
Must be a salaried worker | |
Must be specific age group | x |
Other | |
Other (2) |
# Regions for this institution | 4 |
# Regions for this product | 4 |
Regions Active | Arusha, Dar es Salaam, Dodoma, Kilimanjaro |
Currency | TZS |
Minimum loan size | TZS 500,000 |
Maximum loan size | 20,000,000 |
Loans less than TZS 350,000 | 0 |
TZS 350,000-1,250,000 | 10% |
TZS 1,250,000-2,000,000 | 5% |
TZS 2,000,000-3,000,000 | 20% |
TZS 3,000,000-4,000,000 | 15% |
Greater than TZS 4,000,000 | 15% |
Shortest loan term | 3.0 months |
Longest loan term | 12.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 5% |
Between 7 and 9 months | 5% |
Between 10 and 12 months | 90% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
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 | 19.50% |
Highest quoted nominal interest | 19.50% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Set up fee | Application Fee | |
% of loan amount - min | 1.00% | 0 | |
% of loan amount - max | 1.00% | 0 | |
OR, Fixed amount - min | 0 | 10,000 | |
Fixed amount - max | 0 | 10,000 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | No | No |
Ins 1 | |
---|---|
Description | Insurance 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? | 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 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | |||||
---|---|---|---|---|---|---|---|---|---|
Loan Amount | TZS 1,000,000 | TZS 2,000,000 | TZS 3,000,000 | TZS 4,000,000 | TZS 5,000,000 | ||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
Disbursement Date | 2013-05-25 | 2013-05-06 | 2013-07-19 | 2013-07-22 | 2013-06-07 | ||||
Loan Term (Months) | 12.0 months | 12.0 months | 10.0 months | 12.0 months | 12.0 months | ||||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | ||||
Total Cost of Credit | TZS 225,541.68 | TZS 440,000 | TZS 557,500 | TZS 870,000 | TZS 1,085,000 | ||||
True Price by Comp | |||||||||
Interest price component | 33.7% | 33.6% | 33.4% | 33.6% | 33.7% | ||||
Fee Component | 3.9% | 2.9% | 3.0% | 2.4% | 2.4% | ||||
Insurance Component | 2.0% | 2.0% | 2.3% | 2.0% | 2.0% | ||||
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) | 39.6% | 38.5% | 38.7% | 38.0% | 38.1% | ||||
Transparency Index | 49 | 51 | 50 | 51 | 51 | ||||
Original Repayment Schedule | |||||||||
MFT Pricing Calculation |
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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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