Family Bank Ltd. - Secured Business 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: 174 months

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Product

Secured Business Loan Product 4 of 5 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (KES)	KES 2,500,000,000
Portfolio (USD)	USD 30,193,236.71
Active Clients with Loans	3,000
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	40% - 60%

Methodology

Individual	x
Solidarity group	x
Village banking
Self help group
Other

Description

Credit product to SMEs for business and personal development and secured by conventional types of securities like Title deeds and log books

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	x
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
Must be specific age group
Other	Must have collateral
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 100,000
Maximum loan size	20,000,000

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	60.0 months
Approx average	36.0 months

Grace Period

Grace period usage	0
Average grace period	0

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	18.50%
Highest quoted nominal interest	18.50%
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	3.00%
% of loan amount - max	3.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	No

Ongoing Fees

	Fee 1
Description	Ledger Fee
% of loan amount - min	0
% of loan amount - max	0
OR, Fixed amount - min	200
Fixed amount - max	200
Reason for variation	N/A
Appears on Repayment Sched?	No

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?

Full Pricing Data

Secured Business Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	KES 100,000	KES 200,000	KES 300,000	KES 400,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2010-02-10	2010-01-20	2009-12-22	2010-02-03
Loan Term (Months)	12.0 months	36.0 months	24.0 months	36.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	34.3%	25.9%	25.6%	23.9%
Insurance Component	0.0%	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%	0.0%
Deposit Component	0.0%	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	34.3%	25.9%	25.6%	23.9%
Transparency Index	54	71	72	77

Original Repayment Schedule	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF

Secured Business Loan Price Graphs

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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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