Kenya Agency for Development & Enterprise Technology - School Fees Loan - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 142 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Please note that the information you are viewing is 136 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Kenya Agency for Development & Enterprise Technology P.O. Box 1676Nairobi

Data approved: 2013-06-25

Data version: 2

Age of data: 142 months

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Institution

Fanikiwa Microfinance Company Limited Head OfficeDar Es SalaamPO Box 8695

Data approved: 2013-03-13

Data version: 2

Age of data: 136 months

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Product

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Product Summary

Number borrowers	165
Loan Amount (range)	KES 5,000 - 150,000
Loan Term (range)	3 - 12
Other Services (text summary)	Credit Ins
Annual Interest & Method	18.0%-22.0% annual, Flat
Fees	3.00% upfront
Insurance	1.20% upfront
Tax	None
Comp Dep	N/A
Range of pricing
Interest Price Component	19.3% - 39.1%
Fee Component	3.3% - 11.5%
Insurance Component	1.4% - 4.7%
Tax Component Range	0
Full APR (int fee ins tax dep)	45.8% - 51.1%
Transparency Index (min/max)	17 - 51
Transparency Index (average)	37

Product Details

Key Statistics

Outstanding portfolio (KES)	KES 8,468,382
Portfolio (USD)	USD 102,275.14
Active Clients with Loans	165
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	40% - 60%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Loan to finance school fees for children.

Loan Purpose

Any purpose
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education	x
Other household finance
Other
Other (2)

Included Services

Credit education
Group meetings
Credit insurance	x
Workplace visits
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
Must be specific age group
Other
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	7
# Regions for this product	7
Regions Active	Central, Coast, Eastern, Nairobi, Nyanza, Rift Valley, Western

Product Details

This product either has less than 50 active borrowers or less than 10 loan disbursements over the past 9 months. MFTransparency presents basic data rather than full data for low volume products

Key Statistics

Outstanding portfolio (TZS)	TZS 34,999,950
Portfolio (USD)	USD 22,012.55
Active Clients with Loans	2
Approximate % Female Clients	40% - 60%
Approximate % Urban Clients	80% - 100%

Description

This loan product cater for middle range Institutions or enterprises which are registered as formal business entities whose funding demand can range between Tshs 5 and 100 million.

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Eligibility

Men	x
Women	x
Must run a business	x
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	3
# Regions for this product	N/A
Regions Active

Loan Conditions

Loan Amount

Currency	KES
Minimum loan size	KES 5,000
Maximum loan size	150,000

Distribution at Disbursement (Est.)

Loans less than KES 50,000	60%
KES 50,000-150,000	40%
KES 150,000-250,000	0
KES 250,000-350,000	0
KES 350,000-450,000	0
Greater than KES 450,000	0

Loan Term and Grace Period

Shortest loan term	3.0 months
Longest loan term	12.0 months
Approx average	6.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	40%
Between 7 and 9 months	20%
Between 10 and 12 months	40%
Between 13 and 18 months	0
Longer than 18 months	0

Grace Period

Grace period usage	100%
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	18.00%
Highest quoted nominal interest	22.00%
Reason(s) why interest rate varies	Time as Client
Interest rate period	Yearly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Loan Application 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?	Yes

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Annual Loan Protection Fee
% of loan amount - min	1.20%
% of loan amount - max	1.20%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
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

Are taxes charged on this product?

Additional Comments

No upfront or continuing compulsory deposit, however this loan product is a rider loan,only accessible to clients who already have another active KADET loan with compulsory upfront and continuing savings.

Full Pricing Data

School Fees Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	KES 10,000	KES 30,000	KES 55,000	KES 90,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2013-05-14	2013-04-22	2013-04-19	2013-05-09
Loan Term (Months)	6.0 months	6.0 months	12.0 months	12.0 months
Grace Period (Months)	0.2 months	0.0 months	-0.1 months	0.1 months
Total Cost of Credit	KES 1,520	KES 4,560	KES 14,410	KES 23,580
True Price by Comp
Interest price component	34.2%	36.0%	38.9%	37.4%
Fee Component	10.1%	10.7%	6.2%	5.9%
Insurance Component	4.1%	4.4%	2.6%	2.5%
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)	48.4%	51.1%	47.7%	45.8%
Transparency Index	37	35	38	39

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

School Fees Loan Price Graphs

Click to view Price Analysis Tool

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

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
	Greater than:
	Less or equal to:
	From 0 to
	to
	to
	to ∞

Institution

Institution

Product

Product

Product Summary

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Product Details

Key Statistics

Description

Loan Purpose

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Additional Comments

Full Pricing Data

School Fees Loan samples

School Fees Loan Price Graphs

Total Borrowers of Samples

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