Institution Type | Non Bank Financial Institution |
Is this institution regulated? | No |
Website address | http://www.kfinance.co.tz/ |
Year established | 2008 |
Head of Institution | Devotha Ntuke Minzi |
Regions active | Dar es Salaam |
# Branches | 0 |
Total Portfolio (nat'l) | TZS 420,040,548 |
Total Portfolio (USD) | USD 264,176.45 |
Active clients with loans | 1,081 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 80% - 100% |
Network affiliations | TAMFI, Business Network International |
Funders |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Business Loan | TZS 1,000,000 - 30,000,000 | 1 - 12 | 60% - 80% | 80% - 100% | Business, Consumer, Education, Other | Women, Men, Have business, Age limit between 18 to 60 | Credit Educ, Group Mtgs, Credit Ins | |||||||
Group Loan (Jikw Amue) | TZS 100,000 - 1,100,000 | 6 | 80% - 100% | 20% - 40% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Other Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Business Loan | 60.00% annual, Flat | 1 Fee | 1 Ins | None | N/A | 97.3% - 102.6% | 99.5% - 106.5% | 58 | ||||||||
Group Loan (Jikw Amue) | 48.00% annual, Flat | 2 Fees | 1 Ins | None | 20.00% upfront | 93.6% - 116.5% | 147% - 233.9% | 26 |
Outstanding portfolio (PHP) | PHP 25,000,000 |
Portfolio (USD) | USD 598,086.12 |
Active Clients with Loans | 1,500 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 60% - 80% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | |
Group meetings | |
Credit insurance | x |
Workplace visits | x |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services |
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) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | PHP |
Minimum loan size | PHP 5,000 |
Maximum loan size | 150,000 |
Shortest loan term | 1.0 month |
Longest loan term | 6.0 months |
Approx average | 4.0 months |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | x |
Every 2 weeks | |
Every 4 weeks | |
Monthly | |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 2.00% |
Highest quoted nominal interest | 3.00% |
Reason(s) why interest rate varies | Randomly selected by the bank's system |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Bank Charge | Processing Fee | |
% of loan amount - min | 0 | 0 | |
% of loan amount - max | 0 | 0 | |
OR, Fixed amount - min | 232.40 | 100 | |
Fixed amount - max | 6,474 | 325 | |
Reason for variation | N/a | ||
Appears on Repayment Sched? | No | No |
Ins 1 | |
---|---|
Description | Mortgage Redemption Insurance |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 16.25 |
Fixed amount - max | 591.50 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | |
Do borrowers control deposit in their group? |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 10.00% |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | End Term |
Minimum interest rate paid | 1.00% |
Maximum interest rate paid | 1.00% |
Interest payment frequency | Quarterly |
Are taxes charged on this product? | Yes |
Percentage of fees | 0 |
All or some fees taxed | N/A |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | PHP 7,000 | PHP 13,000 | PHP 30,000 | PHP 60,000 | PHP 90,000 | PHP 130,000 | |||||
Loan Cycle (1, 2, 3, etc) | 2 | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
Disbursement Date | 2011-05-27 | 2011-05-20 | 2011-05-06 | 2011-06-03 | 2011-04-08 | 2011-03-11 | |||||
Loan Term (Months) | 4.0 months | 3.0 months | 3.0 months | 5.1 months | 6.1 months | 6.1 months | |||||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||||
Total Cost of Credit | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
True Price by Comp | |||||||||||
Interest and Fee Component | 85.5% | 81.0% | 77.5% | 77.7% | 78.3% | 78.7% | |||||
Insurance Component | 1.5% | 2.1% | 2.1% | 2.0% | 2.0% | 2.0% | |||||
Tax Component | 5.9% | 7.7% | 7.4% | 5.5% | 5.7% | 5.7% | |||||
Deposit Component | 9.4% | 6.0% | 5.7% | 8.5% | 8.9% | 8.6% | |||||
Full APR (int fee ins tax dep) | 102.3% | 96.8% | 92.7% | 93.7% | 94.9% | 95.1% | |||||
Transparency Index | 23 | 25 | 26 | 26 | 25 | 25 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
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Loan Portfolio (USD) | |
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% Products with one or more fee | |
% Products with one or more insurances | |
% Products with compulsory deposits |
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