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141 months old and may not represent the prices currently charged.
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Institution
Data approved: 2013-09-13
Data version: 2
Age of data: 141 months
Key Statistics
| Outstanding portfolio (KES) | KES 13,049,704.15 |
| Portfolio (USD) | USD 157,605.12 |
| Active Clients with Loans | 364 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 20% - 40% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
This gives clients the opportunity to refill their loan. Once a client has a good repayment history and has paid off at least half of their second loan outstanding, they have the option to access more cash faster by refilling their loan.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | x |
| Other training | x |
| Other | Leadership Training |
| Other (2) | |
| No other services | |
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 | x |
| Other | |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 1 |
| # Regions for this product | 1 |
| Regions Active | Coast |
Loan Conditions
Loan Amount
| Currency | KES |
| Minimum loan size | KES 5,000 |
| Maximum loan size | 1,000,000 |
Distribution at Disbursement (Est.)
| Loans less than KES 50,000 | 20% |
| KES 50,000-150,000 | 50% |
| KES 150,000-250,000 | 30% |
| 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 | 24.0 months |
| Approx average | 12.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 10% |
| Between 7 and 9 months | 10% |
| Between 10 and 12 months | 40% |
| Between 13 and 18 months | 40% |
| Longer than 18 months | 0 |
Grace Period
| Grace period usage | 100% |
| Average grace period | 1.0 month |
Repayment Frequency
| Daily | |
| Weekly | |
| Every 2 weeks | x |
| 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 interest | 21.00% |
| Highest quoted nominal interest | 21.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
This product has no upfront feesOngoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing 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
This is a refill loan on the Business Loan that does not attract additional fees, insurance, or upfront/continuing compulsory deposit requirements. The borrower does however continue to contribute a continuing amount of KES 100 on the simultaneous Business Loan.
Full Pricing Data
Top Up Loan samples
| Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 |
|---|
| Loan Amount | KES 24,520 | | KES 50,000 | | KES 100,000 | | KES 159,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2013-08-05 | | 2013-09-05 | | 2013-06-13 | | 2013-08-22 |
| Loan Term (Months) | 12.0 months | | 12.0 months | | 12.0 months | | 17.0 months |
| Grace Period (Months) | 0.5 months | | 0.5 months | | 0.5 months | | 0.5 months |
| Total Cost of Credit | KES 5,160 | | KES 10,512 | | KES 21,000 | | KES 50,085 |
| True Price by Comp | | | | | | | |
| Interest price component | 37.9% | | 37.8% | | 37.8% | | 38.2% |
| 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 | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 37.9% | | 37.8% | | 37.8% | | 38.2% |
| Transparency Index | 55 | | 55 | | 56 | | 55 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
