2. Opportunity Kenya
Please note that the information you are viewing is 140 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Union RB
Please note that the information you are viewing is 138 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Opportunity Kenya Limited Geomaps Center, 1st Floor, Matumbato Road, Upper HillP.O. Box 19497Nairobi
Data approved: 2013-05-31
Data version: 2
Age of data: 140 months
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Institution

Union Rural Bank Limited Head OfficeSenya Bereku, Central RegionP.O. Box 5
Data approved: 2013-02-26
Data version: 2
Age of data: 138 months
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Product

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Product

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Product Summary

Number borrowers165
Loan Amount (range)KES 5,000 - 2,000,000
Loan Term (range)6 - 36
Other Services (text summary)Credit Educ, Group Mtgs, Credit Ins, Other Training
Annual Interest & Method22.0% annual, Flat
Fees500.00-0.00 upfront upfront
Insurance1.60%-3.00% upfront
TaxNone
Comp Dep15.0% upfront
Range of pricing 
Interest Price Component29.8% - 41.0%
Fee Component2.6% - 20.5%
Insurance Component1.8% - 6.9%
Tax Component Range0
Full APR (int fee ins tax dep)61.0% - 71.9%
Transparency Index (min/max)16 - 36
Transparency Index (average)34

Product Summary

1,367
GHS 500 - 3,000
4 - 6
Credit Educ, Group Mtgs
48.00% annual, Flat
2 fees
None
None
10.00% upfront
 
51.3% - 85.2%
6.0% - 24.9%
0
0
123.7% - 127.3%
37 - 56
38

Product Details

Key Statistics
Outstanding portfolio (KES)KES 13,325,138.18
Portfolio (USD)USD 160,931.62
Active Clients with Loans165
Approximate % Female Clients20% - 40%
Approximate % Urban Clients60% - 80%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Given to group and individual clients who require financing to acquire income-generating assets to expand and support businesses. Loan disbursement is based on a asupplier's invoice and is paid directly to the supplier.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visits
Business training
Other trainingx
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
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 institution4
# Regions for this product4
Regions ActiveNairobi, Nyanza, Rift Valley, Western

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 370,227
Portfolio (USD)USD 187,932.49
Active Clients with Loans1,367
Approximate % Female Clients80% - 100%
Approximate % Urban Clients80% - 100%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Designed for groups of individuals.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurance
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
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 institution2
# Regions for this product2
Regions ActiveGreater Accra Region, Central Region

Loan Conditions

Loan Amount
CurrencyKES
Minimum loan sizeKES 5,000
Maximum loan size2,000,000
Distribution at Disbursement (Est.)
Loans less than KES 50,0005%
KES 50,000-150,00060%
KES 150,000-250,00010%
KES 250,000-350,0005%
KES 350,000-450,0000
Greater than KES 450,0000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term36.0 months
Approx averageDK
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months5%
Between 7 and 9 months5%
Between 10 and 12 months70%
Between 13 and 18 months20%
Longer than 18 months0
Grace Period
Grace period usage10%
Average grace periodDK
Repayment Frequency
Daily
Weeklyx
Every 2 weeksx
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 500
Maximum loan size3,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,00020%
GHS 1,000-5,00080%
GHS 5,000-7,5000
GHS 7,500-10,0000
GHS 10,000-13,0000
Greater than GHS 13,0000
Loan Term and Grace Period
Shortest loan term4.0 months
Longest loan term6.0 months
Approx average6.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months100%
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period0.8 months
Repayment Frequency
Daily
Weeklyx
Every 2 weeks
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest22.00%
Highest quoted nominal interest22.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionLoan Application FeeChattels Fee
% of loan amount - min00
% of loan amount - max2.00%0
OR, Fixed amount - min5000
Fixed amount - max01,300
Reason for variation2% with KES 500 minimumCharged only on loans over KES 100,000
Appears on Repayment Sched?YesYes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Fee
% of loan amount - min1.60%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation<12 month =1.6%, 13-24 months=1.75%, 25+ months=3%. Either upfront or continuing.
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited15.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositAccess During
Interest Paid on Deposit
Minimum interest rate paid1.00%
Maximum interest rate paid1.00%
Interest payment frequencyAnnually
Taxes
Are taxes charged on this product?No
Additional Comments
This loan is paid directly to the supplier. Interest rate revised to 20% flat as of 17-June-2013.

Pricing Information

Interest
Lowest quoted nominal interest48.00%
Highest quoted nominal interest48.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionCommitment FeeLoan Form and Pass Book Fee
% of loan amount - min5.00%0
% of loan amount - max5.00%0
OR, Fixed amount - min07
Fixed amount - max07
Reason for variationN/AN/A
Appears on Repayment Sched?YesNo
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited10.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited1.00%
or, Fixed-amount deposited0
Conditions on access to depositAccess During
Interest Paid on Deposit
Minimum interest rate paid2.00%
Maximum interest rate paid7.50%
Interest payment frequencyMonthly
Taxes
Are taxes charged on this product?No

Full Pricing Data

Asset Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5
Loan AmountKES 15,473KES 28,700KES 50,000KES 100,000KES 279,500
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2013-05-232013-05-012013-05-202013-05-222013-03-20
Loan Term (Months)9.0 months6.0 months12.0 months12.0 months12.0 months
Grace Period (Months)0.5 months0.2 months0.0 months0.5 months0.7 months
Total Cost of CreditKES 3,103.08KES 4,164.25KES 12,769.86KES 25,479.45KES 72,683.53
True Price by Comp         
Interest price component38.6%39.1%40.4%38.6%37.9%
Fee Component5.3%7.8%4.3%4.1%5.0%
Insurance Component4.3%6.4%3.5%3.3%3.3%
Tax Component0.0%0.0%0.0%0.0%0.0%
Deposit Component16.1%18.6%16.7%15.2%14.8%
Full APR (int fee ins tax dep)64.3%71.9%64.9%61.2%61.0%
Transparency Index3431343636
          
Original Repayment SchedulePDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDF

Full Pricing Data

Group Loan samples
Sample 1Sample 2Sample 3
Loan AmountGHS 600GHS 1,500GHS 1,200
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2013-02-132013-02-132013-02-13
Loan Term (Months)6.0 months6.0 months6.0 months
Grace Period (Months)0.4 months0.4 months0.4 months
Total Cost of CreditGHS 181GHS 442GHS 355
True Price by Comp     
Interest price component81.1%81.1%81.1%
Fee Component24.9%22.0%22.5%
Insurance Component0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%
Deposit Component21.3%20.6%20.7%
Full APR (int fee ins tax dep)127.3%123.7%124.3%
Transparency Index383939
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF
Asset 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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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