Please note that the information you are viewing is
176 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2010-09-13
Data version: 1
Age of data: 176 months
Key Statistics
| Outstanding portfolio (KES) | KES 3,200,000,000 |
| Portfolio (USD) | USD 38,647,343 |
| Active Clients with Loans | 30,000 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 60% - 80% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
Loans available to individuals in employement and SMEs for purposes of personal development and consumption. These includes salary based loans, agricultural loans etc
Loan Purpose
| Any purpose | x |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | x |
| 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 | x |
| Must be specific age group | |
| Other | Borrower must be under insurable age limit of 65 years |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active | |
Loan Conditions
Loan Amount
| Currency | KES |
| Minimum loan size | KES 10,000 |
| Maximum loan size | 1,000,000 |
Loan Term and Grace Period
| Shortest loan term | 6.0 months |
| Longest loan term | 48.0 months |
| Approx average | 24.0 months |
Grace Period
| Grace period usage | 10% |
| Average grace period | 1.0 month |
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 | 16.00% |
| Highest quoted nominal interest | 18.00% |
| Reason(s) why interest rate varies | 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 |
Upfront Fees
| Fee 1 |
|---|
| Description | Processing Fee |
| % of loan amount - min | 5.75% |
| % of loan amount - max | 5.75% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
Ongoing Fees
| Fee 1 |
|---|
| Description | Standing Order Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 130 |
| Fixed amount - max | 130 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
Upfront Insurance Fees
| Ins 1 |
|---|
| Description | Insurance fee |
| % of loan amount - min | 3.00% |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | 0.3% of the loan amount x number of months |
| 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 |
Additional Comments
One extra standing order fee charged at the end of the loan term for loan closure.
Full Pricing Data
Consumer Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
|---|
| Loan Amount | KES 12,000 | | KES 27,000 | | KES 50,000 | | KES 103,000 | | KES 200,000 | | KES 285,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2010-02-11 | | 2009-12-21 | | 2009-12-30 | | 2010-01-15 | | 2010-01-13 | | 2009-12-10 |
| Loan Term (Months) | 11.0 months | | 24.0 months | | 12.0 months | | 14.0 months | | 49.0 months | | 62.0 months |
| Grace Period (Months) | 1.0 month | | 1.0 month | | 0.0 months | | 1.0 month | | 1.0 month | | 1.0 month |
| Total Cost of Credit | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| True Price by Comp | | | | | | | | | | | |
| Interest and Fee Component | 71.0% | | 42.8% | | 42.4% | | 33.4% | | 24.6% | | 23.3% |
| Insurance Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 71.0% | | 42.8% | | 42.4% | | 33.4% | | 24.6% | | 23.3% |
| Transparency Index | 23 | | 37 | | 38 | | 48 | | 65 | | 69 |
| | | | | | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
Consumer Loan Price Graphs
