Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.familybank.co.ke/ |
Year established | 1984 |
Head of Institution | Peter Kinyanjui |
Regions active | |
# Branches | 50 |
Total Portfolio (nat'l) | KES 8,001,434,281 |
Total Portfolio (USD) | USD 96,635,679.72 |
Active clients with loans | 52,342 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 20% - 40% |
Network affiliations | |
Funders |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Finance Loan | KES 300,000 - 20,000,000 | 6 - 48 | 20% - 40% | 60% - 80% | Only for purposes of buying assets(motor vehicles) | Women, Men | Credit Educ, Credit Ins, Tech Asst Visits | |||||||
Biashara Boost Loan | KES 5,000 - 500,000 | 6 - 24 | 40% - 60% | 20% - 40% | Business, Other | Women, Men, Have business, Can use loan to start a business | Credit Educ, Credit Ins, Tech Asst Visits, Business Training, Other Training, Book-keeping skills | |||||||
Consumer Loan | KES 10,000 - 1,000,000 | 6 - 48 | 40% - 60% | 60% - 80% | Any Purpose | Women, Men, Salaried worker, Borrower must be under insurable age limit of 65 years | Credit Educ, Credit Ins, Tech Asst Visits | |||||||
Secured Business Loan | KES 100,000 - 20,000,000 | 6 - 60 | 20% - 40% | 40% - 60% | Any Purpose | Women, Men, Must have collateral | Credit Educ, Credit Ins, Tech Asst Visits, Business Training | |||||||
Vijanaa Boost Loan | KES 5,000 - 1,000,000 | 6 - 24 | 40% - 60% | 40% - 60% | Business, Other | Women, Men, Specific age group | Credit Educ, Credit Ins, Tech Asst Visits, Business Training, Other Training, Book-keeping skills |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Finance Loan | 10.6% annual, Flat | 3 Fees | 0 Ins | None | N/A | 23.8% - 27.7% | 23.8% - 27.7% | 41 | ||||||||
Biashara Boost Loan | 19.2% annual, Flat | 2 Fees | 1 Ins | None | N/A | 39.8% - 48.5% | 39.8% - 48.5% | 45 | ||||||||
Consumer Loan | 16.0%-18.0% annual, Decl Bal | 2 Fees | 1 Ins | None | N/A | 23.3% - 71% | 23.3% - 71% | 46 | ||||||||
Secured Business Loan | 18.5% annual, Decl Bal | 2 Fees | 1 Ins | None | N/A | 23.9% - 34.3% | 23.9% - 34.3% | 68 | ||||||||
Vijanaa Boost Loan | 8.0% annual, Flat | 2 Fees | 1 Ins | None | N/A | 16.5% - 17.7% | 16.5% - 17.7% | 46 |
Outstanding portfolio (GHS) | GHS 1,033,300 |
Portfolio (USD) | USD 540,995 |
Active Clients with Loans | 1,101 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 80% - 100% |
Individual | |
Solidarity group | |
Village banking | x |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | |
Group meetings | x |
Credit insurance | |
Workplace visits | |
Business training | x |
Other training | |
Other | |
Other (2) | |
No other services |
Men | |
Women | x |
Must run a business | |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | 1 |
# Regions for this product | 1 |
Regions Active | Northern Region |
Currency | GHS |
Minimum loan size | GHS 100 |
Maximum loan size | 3,000 |
Loans less than GHS 1,000 | 100% |
GHS 1,000-5,000 | 0 |
GHS 5,000-7,500 | 0 |
GHS 7,500-10,000 | 0 |
GHS 10,000-13,000 | 0 |
Greater than GHS 13,000 | 0 |
Shortest loan term | 4.0 months |
Longest loan term | 4.0 months |
Approx average | 4.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 100% |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 30% |
Average grace period | 0.2 months |
Daily | |
Weekly | x |
Every 2 weeks | |
Every 4 weeks | |
Monthly | |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 2.50% |
Highest quoted nominal interest | 2.50% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 10.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | End Term |
Minimum interest rate paid | 0 |
Maximum interest rate paid | 0 |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | GHS 300 | GHS 800 | GHS 1,500 | GHS 3,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2013-03-05 | 2013-01-10 | 2013-02-07 | 2012-12-27 | |||
Loan Term (Months) | 3.7 months | 3.7 months | 3.7 months | 3.7 months | |||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||
Total Cost of Credit | GHS 30 | GHS 80 | GHS 150 | GHS 300 | |||
True Price by Comp | |||||||
Interest price component | 59.4% | 59.4% | 59.4% | 59.4% | |||
Fee Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 12.7% | 12.7% | 12.7% | 12.7% | |||
Full APR (int fee ins tax dep) | 72.1% | 72.1% | 72.1% | 72.1% | |||
Transparency Index | 42 | 42 | 42 | 42 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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% Products with compulsory deposits |
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