2. Centenary Bank
Please note that the information you are viewing is 137 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Opportunity Kenya
Please note that the information you are viewing is 134 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Centenary Rural Development Bank Mapeera House, Plot 44-46, Kampala RoadKampalaP.O.Box 1892
Data approved: 2013-01-24
Data version: 2
Age of data: 137 months
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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: 134 months
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Product

Small Business Loan Product 4 of 4 « Prev | Next »

Product

Msingi Loan Product 1 of 5 « Prev | Next »

Product Summary

Number borrowers20,000
Loan Amount (range)UGX 5,100,000 - 20,000,000
Loan Term (range)3 - 24
Other Services (text summary)Credit Ins
Annual Interest & Method21.96%-24.00% annual, Decl Bal
Fees3 fees
Insurance0.45% upfront
TaxNone
Comp DepN/A
Range of pricing 
Interest Price Component21.9% - 35.0%
Fee Component1.1% - 23.6%
Insurance Component0.4% - 2.0%
Tax Component Range0
Full APR (int fee ins tax dep)33.5% - 36.2%
Transparency Index (min/max)53 - 94
Transparency Index (average)62

Product Summary

8,350
KES 10,000 - 500,000
6 - 36
Credit Educ, Group Mtgs, Credit Ins, Other Training, Fire/Burglary Insurance
22.0% annual, Flat
500.00-0.00 upfront upfront
1.60%-3.00% upfront
None
20.0% upfront 100.00 ongoing
 
29.8% - 41.0%
2.6% - 20.5%
1.8% - 6.9%
0
64.2% - 135.0%
16 - 36
26

Product Details

Key Statistics
Outstanding portfolio (UGX)UGX 5,100,000
Portfolio (USD)USD 1,962
Active Clients with Loans20,000
Approximate % Female Clients20% - 40%
Approximate % Urban Clients20% - 40%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Loans offered to small busness entreprenuers whose financial needs require funding greater than Ushs. 5 milion up to a maximum of Ushs. 15 milion. Repayment is through regular equal loan installments.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetings
Credit insurancex
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 institution4
# Regions for this product4
Regions ActiveCentral, Eastern, Northern, Western

Product Details

Key Statistics
Outstanding portfolio (KES)KES 354,023,376
Portfolio (USD)USD 4,275,644.64
Active Clients with Loans8,350
Approximate % Female Clients40% - 60%
Approximate % Urban Clients60% - 80%
Methodology
Individual
Solidarity groupx
Village bankingx
Self help group
Other
Description
Given to large groups between 15 and 40 members. Customers must have been in business for at least 12 months. No lease agreements or other documents are required. The group and the loan officer assess the capacity of the loan.
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
OtherFire/Burglary Insurance
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
OtherMust have run a business for at least 12 months
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

Loan Conditions

Loan Amount
CurrencyUGX
Minimum loan sizeUGX 5,100,000
Maximum loan size20,000,000
Distribution at Disbursement (Est.)
Loans less than UGX 1,000,0000
UGX 1,000,000-5,000,0000
UGX 5,000,000-7,500,00030%
UGX 7,500,000-10,000,00030%
UGX 10,000,000-13,000,00020%
Greater than UGX 13,000,00020%
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term24.0 months
Approx averageDK
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months20%
Between 10 and 12 months30%
Between 13 and 18 months30%
Longer than 18 months20%
Grace Period
Grace period usage10%
Average grace period1.0 month
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 monthsx
Quarterlyx
Every 6 monthsx
Every 12 months
Single end paymentx
Irregular payments

Loan Conditions

Loan Amount
CurrencyKES
Minimum loan sizeKES 10,000
Maximum loan size500,000
Distribution at Disbursement (Est.)
Loans less than KES 50,00030%
KES 50,000-150,00040%
KES 150,000-250,00020%
KES 250,000-350,0005%
KES 350,000-450,0005%
Greater than KES 450,0005%
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 months20%
Between 7 and 9 months15%
Between 10 and 12 months50%
Between 13 and 18 months15%
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

Pricing Information

Interest
Lowest quoted nominal interest1.83%
Highest quoted nominal interest2.00%
Reason(s) why interest rate variesClient Risk
Interest rate periodMonthly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionAcceptance FeeStamp Duty & Mortgage Fee
% of loan amount - min2.00%0
% of loan amount - max2.00%0
OR, Fixed amount - min069,000
Fixed amount - max0510,000
Reason for variationN/A10,000 Stamp Duty & 59,000 to 500,000 Mortgage fee.
Appears on Repayment Sched?YesYes
Ongoing Fees
Fee 1
DescriptionMonthly Monitoring Fee
% of loan amount - min0.50%
% of loan amount - max0.67%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationNew borrowers pay 0.67% & existing borrowers pay 0.5%.
Appears on Repayment Sched?Yes
Upfront Insurance Fees
Ins 1
DescriptionLoan Protection Insurance
% of loan amount - min0.45%
% of loan amount - max0.45%
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 forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
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 interest22.00%
Highest quoted nominal interest22.00%
Reason(s) why interest rate variesBranch, Time as Client
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 minimumOnly 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 deposited20.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount depositedKES 100
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
Interest rate revised to 20% flat as of 17-June-2013.

Full Pricing Data

Small Business Loan samples
Sample 2Sample 3Sample 4
Loan AmountUGX 11,000,000UGX 12,500,000UGX 15,000,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2012-12-112012-07-092013-01-09
Loan Term (Months)13.0 months24.0 months37.0 months
Grace Period (Months)0.7 months0.0 months0.0 months
Total Cost of CreditUGX 2,431,796UGX 4,894,980UGX 8,658,864
True Price by Comp     
Interest price component26.9%29.6%29.7%
Fee Component8.4%4.9%3.4%
Insurance Component0.9%0.5%0.4%
Tax Component0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%
Full APR (int fee ins tax dep)36.2%35.0%33.5%
Transparency Index616365
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF

Full Pricing Data

Msingi Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5
Loan AmountKES 10,000KES 20,000KES 47,000KES 100,000KES 300,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2013-05-302013-05-302013-05-292013-05-022013-05-08
Loan Term (Months)5.8 months6.0 months12.0 months12.0 months18.0 months
Grace Period (Months)0.2 months0.2 months0.7 months0.5 months0.7 months
Total Cost of CreditKES 1,714.79KES 3,013.97KES 12,168.66KES 25,539.73KES 113,006.52
True Price by Comp         
Interest price component39.3%39.3%38.5%38.7%38.4%
Fee Component20.5%9.8%4.0%4.1%3.4%
Insurance Component6.9%6.4%2.6%3.3%1.8%
Tax Component0.0%0.0%0.0%0.0%0.0%
Deposit Component68.3%42.2%27.5%25.9%20.6%
Full APR (int fee ins tax dep)135.0%97.7%72.6%72.0%64.2%
Transparency Index1623303134
          
Original Repayment SchedulePDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDF
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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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