Family Bank Ltd. - Consumer Loan - MFTransparency.org Truth In Lending Tables

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Institution

Family Bank Ltd. NairobiKenyaP.O. Box 74145

Data approved: 2010-09-13

Data version: 1

Age of data: 172 months

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Product

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Product Details

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)

# Borrowers by Product

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

Are taxes charged on this product?

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

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
AGFS	200	47,000	2	157
Ahantaman RB	23,800	9,896,000	4	139
APED	13,700	1,876,000	2	139
ASA Initiative	4,400	577,000	4	139
ASA-Ghana	71,600	18,385,000	2	139
ASPI	800	88,000	6	139
Atwima Kwanwoma	3,800	1,788,000	2	139
Baobab	5,100	967,000	2	139
BestFUND	13,000	4,172,000	3	139
Bonzali Rural	10,400	1,691,000	4	157
CashPhase	83	135,000	2	139
CASUD	1,100	524,000	1	139
CEDEF	500	54,000	4	139
CFF	100	13,000	1	139
CRAN	3,600	1,019,000	2	139
DQF	1,700	63,000	2	139
EASL	9,200	11,409,000	6	139
East Mamprusi	12,500	2,268,000	4	139
ELDA	0	0	0	139
EMPRETEC Ghana	200	56,000	2	139
FASL	13,500	14,047,000	8	139
Grameen Ghana	9,500	507,000	3	139
ID-Ghana	5,600	953,000	3	139
Innovative Finance	2,700	354,000	3	139
Kraban Support	7,700	781,000	5	157
KRB	4,000	6,350,000	3	139
Lower Pra RB	34,000	6,316,000	3	157
Maata-N-Tudu	12,000	941,000	4	139
Mail Finance	300	288,000	1	139
Markaz	0	0	0	139
Markaz Al Bishara	100	17,000	1	139
MicrofinPlus Gh	1,100	251,000	2	139
Nwabiagya RB	4,000	2,265,000	3	139
OISL	62,000	27,232,000	9	139
Pro Credit	0	0	0	139
Rich Step	100	101,000	1	139
SAT	147,600	29,359,000	4	139
Sekam Trust	600	137,000	2	139
Simli Pong	8,900	463,000	3	157
SS Ghana	200	35,000	1	139
TCCU	100	32,000	3	139
The Bridge	400	32,000	3	157
Union RB	3,800	2,361,000	4	139

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

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Total Borrrowers of Samples


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