| Outstanding portfolio (KES) | KES 275,501,067 |
| Portfolio (USD) | USD 3,327,307.57 |
| Active Clients with Loans | 6,296 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | x |
| Education | |
| Other household finance | |
| Other | Improve the structure used to house dairy cows |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | x |
| Business training | x |
| Other training | |
| Other | Optional low-cost life insurance through CIC, KES 3290pa |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | |
| Must own a home or land | x |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Must be a farmer |
| Other (2) |
| # Regions for this institution | 5 |
| # Regions for this product | 5 |
| Regions Active | Central, Eastern, Nyanza, Rift Valley, Western |
| Currency | KES |
| Minimum loan size | KES 30,000 |
| Maximum loan size | 500,000 |
| Loans less than KES 50,000 | 80% |
| KES 50,000-150,000 | 15% |
| KES 150,000-250,000 | 5% |
| KES 250,000-350,000 | 0 |
| KES 350,000-450,000 | 0 |
| Greater than KES 450,000 | 0 |
| Shortest loan term | 12.0 months |
| Longest loan term | 24.0 months |
| Approx average | 12.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 60% |
| Between 13 and 18 months | 30% |
| Longer than 18 months | 10% |
| Grace period usage | 100% |
| Average grace period | 2.0 months |
| 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 | x |
| Lowest quoted nominal interest | 32.00% |
| Highest quoted nominal interest | 32.00% |
| Reason(s) why interest rate varies | Changing all interest rates from 16% to 18% in Jan 2010 |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | Yes |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Loan Application Fee | Registration Fee | |
| % of loan amount - min | 1.00% | 0 | |
| % of loan amount - max | 1.00% | 0 | |
| OR, Fixed amount - min | 0 | 500 | |
| Fixed amount - max | 0 | 500 | |
| Reason for variation | N/A | N/A | |
| Appears on Repayment Sched? | Yes | Yes |
| Ins 1 | Ins 2 | ||
|---|---|---|---|
| Description | Loan Insurance Fee | Livestock Insurance Fee | |
| % of loan amount - min | 1.00% | 4.00% | |
| % of loan amount - max | 2.00% | 4.00% | |
| OR, Fixed amount - min | 0 | 0 | |
| Fixed amount - max | 0 | 0 | |
| Reason for variation | 1% of the loan amount p.a | N/A | |
| Appears on Repayment Sched? | Yes | 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 | 15.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | Access During |
| 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 | Sample 5 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | KES 26,000 | 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 | ||||
| Disbursement Date | 2013-03-12 | 2013-03-12 | 2013-03-12 | 2013-05-30 | 2013-04-29 | ||||
| Loan Term (Months) | 11.0 months | 11.0 months | 14.0 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 | ||||
| Total Cost of Credit | KES 6,740 | KES 12,501 | KES 29,179 | KES 87,149 | KES 130,474 | ||||
| True Price by Comp | |||||||||
| Interest price component | 33.4% | 33.4% | 33.5% | 31.7% | 31.8% | ||||
| Fee Component | 6.2% | 4.2% | 2.6% | 1.3% | 1.2% | ||||
| Insurance Component | 11.2% | 11.0% | 9.5% | 6.9% | 6.9% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 17.0% | 16.3% | 15.1% | 12.5% | 12.5% | ||||
| Full APR (int fee ins tax dep) | 67.8% | 64.9% | 60.7% | 52.4% | 52.4% | ||||
| Transparency Index | 47 | 49 | 53 | 61 | 61 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
| Institution Type | RurBank |
| Is this institution regulated? | Yes |
| Website address | http://www.lowerpraruralbank.com/ |
| Year established | 1983 |
| Head of Institution | Isaac Kwamina Afful |
| Regions active | |
| # Branches | 14 |
| Total Portfolio (nat'l) | GHS 12,443,472 |
| Total Portfolio (USD) | USD 6,316,483.25 |
| Active clients with loans | 34,056 |
| Approximate % female clients | 40% - 60% |
| Approximate % urban clients | 80% - 100% |
| Network affiliations | GHAMFIN, ARB APEX |
| Funders |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Micro Loan | GHS 1,000 - 30,000 | 1 - 12 | 20% - 40% | 20% - 40% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins | |||||||
| Salary Loan | GHS 500 - 11,000 | 1 - 60 | 40% - 60% | 80% - 100% | Business | Women, Men | Credit Ins | |||||||
| Susu Loan | GHS 200 - 3,500 | 1 - 12 | 40% - 60% | 80% - 100% | Business | Women, Men, Have business | Credit Ins, Tech Asst Visits, Market trends |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Micro Loan | 30.00% annual, Flat | 2 Fees | 0 Ins | None | 25.00%- upfront | 66.3% - 87.9% | 104.2% - 146.4% | 24 | ||||||||
| Salary Loan | 28.00% annual, Flat | 2 Fees | 0 Ins | None | N/A | 47.4% - 63% | 47.4% - 63% | 48 | ||||||||
| Susu Loan | 30.00% annual, Flat | 2 Fees | 0 Ins | None | 25.00%- upfront | 69.6% - 91.6% | 115.7% - 154.1% | 22 |
| Key Statistics | |
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| 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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