2. FINCOOP
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
  2. KWFT DTM
Please note that the information you are viewing is 141 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Finance Savings and Credit Cooperative MUSCCO HouseLilongwePO Box 1292
Data approved: 2013-01-04
Data version: 2
Age of data: 142 months
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Institution

Kenya Women Finance Trust Deposit Taking Microfinance Ltd P.O. Box 4179 - 00506Kiambere Road, Upper HillNairobi
Data approved: 2013-06-24
Data version: 2
Age of data: 141 months
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Product

Phindu (Group Business) Product 3 of 7 « Prev | Next »

Product

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Product Summary

Number borrowers800
Loan Amount (range)MWK 5,000 - 500,000
Loan Term (range)6 - 12
Other Services (text summary)Credit Educ, Group Mtgs, Credit Ins, Business Training
Annual Interest & Method45.00% annual, Flat
Fees3.00% upfront
Insurance2.00% upfront
TaxNone
Comp Dep33.33% upfront
Range of pricing 
Interest Price Component54.5% - 72.2%
Fee Component5.6% - 18.8%
Insurance Component3.9% - 12.9%
Tax Component Range0
Full APR (int fee ins tax dep)176.4% - 179.8%
Transparency Index (min/max)11 - 26
Transparency Index (average)25

Product Summary

12,383
KES 50,000 - 10,000,000
6 - 60
Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training
11.2%-20.0% annual, Flat
1.00%-1.50% upfront upfront
1.25% upfront
None
10.0%-20.0% upfront 50.00-0.00 ongoing
 
34.5% - 38.0%
1.4% - 7.7%
1.2% - 4.6%
0
43.9% - 56.7%
20 - 43
22

Product Details

Key Statistics
Outstanding portfolio (MWK)MWK 13,606,531.95
Portfolio (USD)USD 34,888.54
Active Clients with Loans800
Approximate % Female Clients20% - 40%
Approximate % Urban Clients20% - 40%
Methodology
Individual
Solidarity group
Village bankingx
Self help group
Other
Description
This is a group business loan targeting small and medium entrepreneurs in both rural and urban areas.
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 trainingx
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 workerx
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution5
# Regions for this product5
Regions ActiveLilongwe, Mchinji, Salima, Mzimba, Blantyre

Product Details

Key Statistics
Outstanding portfolio (KES)KES 92,369,084
Portfolio (USD)USD 1,115,568.65
Active Clients with Loans12,383
Approximate % Female Clients80% - 100%
Approximate % Urban Clients0% - 20%
Methodology
Individualx
Solidarity groupx
Village banking
Self help group
OtherMembership of 15-30 individuals.
Description
Loans for new viable business ventures. Women youth in groups of 15-30 members. Security is social collateral, loan guarantee fund. Age 18-35 years. Co-funded by the state.
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 visitsx
Business trainingx
Other trainingx
Other
Other (2)
No other services
Eligibility
Men
Womenx
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age group
OtherMust be willing to set up a viable business
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution8
# Regions for this product8
Regions ActiveCentral, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western

Loan Conditions

Loan Amount
CurrencyMWK
Minimum loan sizeMWK 5,000
Maximum loan size500,000
Distribution at Disbursement (Est.)
Loans less than MWK 50,00090%
MWK 50,000-150,00010%
MWK 150,000-250,0000
MWK 250,000-350,0000
MWK 350,000-450,0000
Greater than MWK 450,0000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term12.0 months
Approx average9.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months10%
Between 7 and 9 months10%
Between 10 and 12 months80%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage0
Average grace periodDK
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyKES
Minimum loan sizeKES 50,000
Maximum loan size10,000,000
Distribution at Disbursement (Est.)
Loans less than KES 50,000100%
KES 50,000-150,0000
KES 150,000-250,0000
KES 250,000-350,0000
KES 350,000-450,0000
Greater than KES 450,0000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term60.0 months
Approx average12.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months20%
Between 7 and 9 months30%
Between 10 and 12 months30%
Between 13 and 18 months10%
Longer than 18 months10%
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest45.00%
Highest quoted nominal interest45.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min3.00%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Premium
% of loan amount - min2.00%
% of loan amount - max2.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?Yes
Do borrowers control deposit in their group?Yes
Deposit BEFORE or AT Disbursement
% loan amount deposited33.33%
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest0.93%
Highest quoted nominal interest1.67%
Reason(s) why interest rate variesLoan Size
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionLoan Processing FeeChattels Fee
% of loan amount - min1.00%0
% of loan amount - max1.50%0
OR, Fixed amount - min00
Fixed amount - max01,500
Reason for variationLoans below 100,000 KES = 1.5% with 250 KES minimum. Loans 100,000 KES and above = 1%Charged only on loans KES 100,000 and above.
Appears on Repayment Sched?NoNo
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionRisk Management Fee
% of loan amount - min1.25%
% of loan amount - max1.25%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaIdv loans =10% upfront & 1% ongoing. Grp Loans <KES 100,000 =10% upfront & >KES 100,000 =20% upfront. Loans >KES 45,000 =KES 400 ongoing, <KES 45,000 loans =KES 50 ongoing.
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% - 20.00%
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount deposited0 - 1.00%
or, Fixed-amount depositedKES 50 - 0
Conditions on access to depositWhen Leaving
Interest Paid on Deposit
Minimum interest rate paid2.00%
Maximum interest rate paid6.00%
Interest payment frequencyEnd Term
Taxes
Are taxes charged on this product?No

Full Pricing Data

Phindu (Group Business) samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountMWK 10,000MWK 25,000MWK 48,600MWK 89,100MWK 35,400MWK 34,800
Loan Cycle (1, 2, 3, etc)335555
Disbursement Date2013-01-072013-01-072012-10-232012-10-232012-10-232012-10-23
Loan Term (Months)6.0 months6.0 months6.0 months6.0 months6.0 months6.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditMWK 2,750MWK 6,875MWK 13,365MWK 24,503MWK 9,735MWK 9,570
True Price by Comp           
Interest price component72.2%72.2%71.2%71.2%71.2%71.2%
Fee Component11.2%11.2%11.1%11.1%11.1%11.1%
Insurance Component7.7%7.7%7.5%7.6%7.5%7.5%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component88.7%88.7%86.6%86.5%86.6%86.6%
Full APR (int fee ins tax dep)179.8%179.8%176.4%176.4%176.4%176.4%
Transparency Index252526262626
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF

Full Pricing Data

Asset Financing Loan samples
Sample 1Sample 3Sample 4Sample 5Sample 6
Loan AmountKES 50,000KES 200,000KES 308,000KES 400,000KES 528,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2013-03-152013-03-272013-05-282013-05-172013-04-11
Loan Term (Months)7.0 months12.0 months24.0 months25.0 months18.0 months
Grace Period (Months)0.0 months-0.2 months-0.2 months1.0 month0.0 months
Total Cost of CreditKES 7,824.31KES 44,880.60KES 130,813.28KES 189,093.73KES 172,138.95
True Price by Comp         
Interest price component36.8%34.6%34.6%34.5%34.6%
Fee Component4.6%3.5%1.6%1.4%1.8%
Insurance Component4.0%2.6%1.5%1.2%1.7%
Tax Component0.0%0.0%0.0%0.0%0.0%
Deposit Component11.3%8.6%18.4%6.8%7.6%
Full APR (int fee ins tax dep)56.7%49.3%56.1%43.9%45.7%
Transparency Index2023202624
          
Original Repayment SchedulePDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDF
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Key Statistics
# Samples:
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# 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
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Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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