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Institution
Data approved: 2010-09-13
Data version: 1
Age of data: 170 months
Key Statistics
Outstanding portfolio (KES) | KES 200,000,000 |
Portfolio (USD) | USD 2,415,458.94 |
Active Clients with Loans | 2,700 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 40% - 60% |
Methodology
Individual | x |
Solidarity group | x |
Village banking | |
Self help group | |
Other | |
Description
Credit product available to youth (aged between 18 and 35 Years) to either start or expand existing businesses. Financed through the Youth Enterprise Development Fund.
Loan Purpose
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | x |
Other | |
Other (2) | |
Included Services
Credit education | x |
Group meetings | |
Credit insurance | x |
Workplace visits | x |
Business training | x |
Other training | x |
Other | Book-keeping skills |
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 | x |
Other | |
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 5,000 |
Maximum loan size | 1,000,000 |
Loan Term and Grace Period
Shortest loan term | 6.0 months |
Longest loan term | 24.0 months |
Approx average | 12.0 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 | 8.00% |
Highest quoted nominal interest | 8.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | Yes |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 | | Fee 2 |
---|
Description | Processing Fee | | Legal Fee |
% of loan amount - min | 1.00% | | 0 |
% of loan amount - max | 1.00% | | 0 |
OR, Fixed amount - min | 0 | | 0 |
Fixed amount - max | 0 | | 2,000 |
Reason for variation | N/A | | Applied to amounts above KES 100,000 |
Appears on Repayment Sched? | No | | No |
Ongoing Fees
This product has no ongoing feesUpfront 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? | Yes |
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
The source of funds for lending is from Government hence interest highly subsidized.
Full Pricing Data
Vijanaa Boost Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
---|
Loan Amount | KES 10,000 | | KES 25,000 | | KES 50,000 | | KES 100,000 | | KES 200,000 | | KES 300,000 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2009-12-09 | | 2010-02-04 | | 2010-01-20 | | 2010-01-07 | | 2009-12-01 | | 2009-12-16 |
Loan Term (Months) | 12.0 months | | 8.0 months | | 6.0 months | | 12.0 months | | 24.0 months | | 24.0 months |
Grace Period (Months) | 0.0 months | | 0.0 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 | | Not Known | | Not Known |
True Price by Comp | | | | | | | | | | | |
Interest and Fee Component | 16.7% | | 17.0% | | 17.7% | | 16.5% | | 17.5% | | 17.3% |
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) | 16.7% | | 17.0% | | 17.7% | | 16.5% | | 17.5% | | 17.3% |
Transparency Index | 48 | | 47 | | 45 | | 48 | | 46 | | 46 |
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Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
Vijanaa Boost Loan Price Graphs