Institution Type | Other |
Is this institution regulated? | No |
Website address | http://www.musoni.eu |
Year established | 2010 |
Head of Institution | James Onyutta |
Regions active | Central, Eastern, Nairobi, Nyanza, Rift Valley |
# Branches | 15 |
Total Portfolio (nat'l) | KES 495,960,483 |
Total Portfolio (USD) | USD 5,989,860.91 |
Active clients with loans | 16,077 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 60% - 80% |
Network affiliations | |
Funders | Musoni Investment, Access Africa Fund ( Managed by Microvest), KFW, Grameen Foundation |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Nawiri ( Group business Loan) | KES 5,000 - 140,000 | 3 - 12 | 40% - 60% | 60% - 80% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Business Training, Other Training | |||||||
Tuelimike ( School Fee Loan) | KES 5,000 - 70,000 | 3 - 9 | 40% - 60% | 60% - 80% | Education | Women, Men, Have business | Group Mtgs, Business Training, Other Training | |||||||
Wepesi ( Emengency Loan | KES 5,000 - 30,000 | 1 | 40% - 60% | 60% - 80% | Any Purpose | Women, Men, Have business | Business Training, Other Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Nawiri ( Group business Loan) | 20.0% annual, Flat | 1 Fee | 0 Ins | None | 20.0% upfront | 40.7% - 48.5% | 60.4% - 74.3% | 30 | ||||||||
Tuelimike ( School Fee Loan) | 22.0% annual, Flat | 1 Fee | 0 Ins | None | 20.0% upfront | 45.3% - 51.8% | 67.2% - 79.2% | 29 | ||||||||
Wepesi ( Emengency Loan | 90.0% annual, Up-Front | 0 Fees | 0 Ins | None | N/A | 93.6% | 93.6% | 96 |
Outstanding portfolio (INR) | INR 20,886,422,076 |
Portfolio (USD) | USD 394,083,435.40 |
Active Clients with Loans | 3,183,754 |
Approximate % Female Clients | 100% |
Approximate % Urban Clients | 20% - 40% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other | Group Based Individual Lending |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | x |
Other | Group Leadership Training |
Other (2) | Financial Literacy & Social Awareness |
No other services |
Men | |
Women | x |
Must run a business | x |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | x |
Household income <60,000 INR | x |
Household income <120,000 INR | x |
Must live in rural area | x |
Must lives in urban area | x |
Other | Must be 18 years to 60 years |
Other (2) |
# Regions for this institution | 18 |
# Regions for this product | 19 |
Regions Active | Assam, Bihar, Chhattisgarh, Gujarat, HaryanaJharkhand, Madhya Pradesh, Maharashtra, Meghalaya, Orissa, Rajasthan, Sikkim, Tripura, Uttar Pradesh, Uttarakhand, West Bengal, Andaman and Nicobar IslandsDadra and Nagar Haveli, National Capital Territory of Delhi |
Currency | INR |
Minimum loan size | INR 1,000 |
Maximum loan size | 15,000 |
Loans less than INR 5,000 | 10% |
INR 5,000-15,000 | 90% |
INR 15,000-25,000 | 0 |
INR 25,000-35,000 | 0 |
INR 35,000-45,000 | 0 |
Greater than INR 45,000 | 0 |
Shortest loan term | 12.0 months |
Longest loan term | 12.0 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 | 100% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 100% |
Average grace period | 0.3 months |
Daily | |
Weekly | x |
Every 2 weeks | x |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 22.90% |
Highest quoted nominal interest | 22.90% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Processing Fee |
% of loan amount - min | 1.00% |
% of loan amount - max | 1.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Service Tax Extra |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Life Insurance |
% of loan amount - min | 0.47% |
% of loan amount - max | 0.97% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | 4.68 / 9.68 Rs per thousand of loan for 1 and 2 year respectively |
Appears on Repayment Sched? | Yes |
Required for | Never |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | N/A |
Do borrowers control deposit in their group? | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Are taxes charged on this product? | Yes |
Percentage of fees | 12.4% |
All or some fees taxed | Some |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | INR 1,000 | INR 3,000 | INR 5,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2012-10-18 | 2012-09-22 | 2012-09-27 | ||
Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | ||
Grace Period (Months) | 0.2 months | 0.0 months | 0.0 months | ||
Total Cost of Credit | INR 133.26 | INR 407.75 | INR 669.58 | ||
True Price by Comp | |||||
Interest price component | 21.8% | 22.9% | 22.9% | ||
Fee Component | 2.0% | 2.0% | 2.1% | ||
Insurance Component | 1.1% | 1.0% | 1.0% | ||
Tax Component | 0.2% | 0.3% | 0.2% | ||
Deposit Component | 0.0% | 0.0% | 0.0% | ||
Full APR (int fee ins tax dep) | 25.1% | 26.2% | 26.2% | ||
MFIN MFI Earning (Annualised) | 23.8% | 24.9% | 25.0% | ||
MFIN Cost to Borrower (Annualised) | 25.1% | 26.2% | 26.2% | ||
Transparency Index | 91 | 88 | 87 | ||
MFIN Transparency Index | 100 | 100 | 100 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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