Institution

Rural Credit Finance Company Ltd Roberta PlazaPlot 202/203, Hoima RoadKampala, Central RegionPO Box 29632
Data approved: 2011-06-29
Data version: 1
Age of data: 156 months

Institution

Equity Bank P.O. Box 75104-00200Hospital Road, Equity Centre, 9th FloorNairobi
Data approved: 2013-09-23
Data version: 2
Age of data: 133 months

Product

Commercial Group Loans Product 2 of 4 « Prev | Next »

Product

Asset Finance Loan Product 2 of 10 « Prev | Next »

Product Summary

Number borrowers2,796
Loan Amount (range)UGX 100,000 - 3,000,000
Loan Term (range)4 - 6
Other Services (text summary)Credit Educ, Group Mtgs, Credit Ins
Annual Interest & Method45.60% annual, Flat
Fees2 fees
Insurance1.00% upfront
TaxNone
Comp DepN/A
Range of pricing 
Interest Price ComponentN/A
Fee Component106.5% - 112.0% (Int+Fee)
Insurance Component0 - 6.9%
Tax Component Range0
Full APR (int fee ins tax dep)113.3% - 118.9%
Transparency Index (min/max)38 - 58
Transparency Index (average)39

Product Summary

900
KES 100,000 - 4,000,000,000
1 - 48
Credit Ins
8.5%-10.0% annual, Flat
2.00%-3.00% upfront
0.63% upfront
None
N/A
 
13.4% - 37.3%
0 - 11.0%
0 - 2.3%
0
20.4% - 21.5%
37 - 83
40

Product Details

Key Statistics
Outstanding portfolio (UGX)UGX 509,000,000
Portfolio (USD)USD 203,600
Active Clients with Loans2,796
Approximate % Female Clients80% - 100%
Approximate % Urban Clients40% - 60%
Methodology
Individual
Solidarity groupx
Village bankingx
Self help group
Other
Description
These loans are given to group members of similar characteristics who are in active business
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 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 institution1
# Regions for this product1
Regions ActiveCentral

Product Details

Key Statistics
Outstanding portfolio (KES)KES 250,477,647
Portfolio (USD)USD 3,025,092.36
Active Clients with Loans900
Approximate % Female Clients20% - 40%
Approximate % Urban Clients40% - 60%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
To enable customers to acquire durable assets eg motor vehicles and machinery for business or personal use. Assets you buy can be used to meet collateral requirements.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
OtherLoan specifically used for purchase of assets.
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 business
Must own a home or land
Must be a salaried worker
Must be specific age group
OtherEquity customer for at least a month or other bank statement
Other (2)Purchased asset is used as loan security
# 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
CurrencyUGX
Minimum loan sizeUGX 100,000
Maximum loan size3,000,000
Distribution at Disbursement (Est.)
Loans less than UGX 1,000,00050%
UGX 1,000,000-5,000,00050%
UGX 5,000,000-7,500,0000
UGX 7,500,000-10,000,0000
UGX 10,000,000-13,000,0000
Greater than UGX 13,000,0000
Loan Term and Grace Period
Shortest loan term4.0 months
Longest loan term6.0 months
Approx average4.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months100%
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weeklyx
Every 2 weeks
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyKES
Minimum loan sizeKES 100,000
Maximum loan size4,000,000,000
Distribution at Disbursement (Est.)
Loans less than KES 50,0000
KES 50,000-150,0000
KES 150,000-250,0000
KES 250,000-350,0000
KES 350,000-450,00070%
Greater than KES 450,00070%
Loan Term and Grace Period
Shortest loan term1.0 month
Longest loan term48.0 months
Approx average48.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months10%
Longer than 18 months90%
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterlyx
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest3.80%
Highest quoted nominal interest3.80%
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionApplication FeeCommission
% of loan amount - min02.40%
% of loan amount - max02.40%
OR, Fixed amount - min5,0000
Fixed amount - max5,0000
Reason for variationN/AN/A
Appears on Repayment Sched?NoNo
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionCredit Life Insurance
% of loan amount - min1.00%
% of loan amount - max1.00%
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 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 interest8.50%
Highest quoted nominal interest10.00%
Reason(s) why interest rate variesClient Risk
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionLACE (Loan Application & Credit Evaluation) Fee
% of loan amount - min2.00%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation3% for 1st cycle, 2% for multiple cycle loans
Appears on Repayment Sched?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionAnnual Insurance Fee
% of loan amount - min0.63%
% of loan amount - max0.63%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation0.625% per annum.
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
Additional Comments
Loan term and fees depend on asset type.

Full Pricing Data

Commercial Group Loans samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountUGX 400,000UGX 700,000UGX 1,200,000UGX 3,000,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2010-11-162010-11-192010-11-272010-11-17
Loan Term (Months)3.7 months3.7 months3.7 months3.7 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot Known
True Price by Comp       
Interest and Fee Component112.0%108.3%108.2%106.5%
Insurance Component6.9%6.9%6.8%6.8%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)118.9%115.2%115.0%113.3%
Transparency Index38404040
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF

Full Pricing Data

Asset Finance Loan samples
Sample 3Sample 4Sample 5
Loan AmountKES 300,000KES 400,000KES 510,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2013-05-092013-05-162013-05-24
Loan Term (Months)24.0 months24.0 months37.0 months
Grace Period (Months)0.1 months0.2 months0.1 months
Total Cost of CreditKES 70,875KES 94,500KES 174,037.50
True Price by Comp     
Interest price component18.8%18.6%18.5%
Fee Component2.0%2.1%1.5%
Insurance Component0.7%0.6%0.4%
Tax Component0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%
Full APR (int fee ins tax dep)21.5%21.3%20.4%
Transparency Index404042
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF
Commercial Group Loans Price Graphs


Asset Finance Loan Price Graphs


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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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