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
Data approved: 2010-09-09
Data version: 1
Age of data: - months
Key Statistics
Outstanding portfolio (KES) | KES 2,826,670,193 |
Portfolio (USD) | USD 34,138,528.90 |
Active Clients with Loans | 2,853 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 40% - 60% |
Methodology
Individual | x |
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 generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | Loan specifically used for purchase of assets. |
Other (2) | |
Included Services
Credit education | |
Group meetings | |
Credit insurance | x |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services | |
Eligibility
Men | x |
Women | x |
Must run a business | |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | Equity Bank customer for at least one month or other bank statement |
Other (2) | The asset being purchased is used as security for the loan. |
Portfolio Size by Product
Geographic Coverage
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active | |
Loan Conditions
Loan Amount
Currency | KES |
Minimum loan size | KES 100,000 |
Maximum loan size | 4,000,000,000 |
Loan Term and Grace Period
Shortest loan term | 1.0 month |
Longest loan term | 48.0 months |
Approx average | 48.0 months |
Grace Period
Grace period usage | 0 |
Average grace period | 0 |
Repayment Frequency
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | x |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments | |
Pricing Information
Interest
Lowest quoted nominal interest | 8.50% |
Highest quoted nominal interest | 8.50% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | N/A |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
---|
Description | LACE (Loan Application & Credit Evaluation) Fee |
% of loan amount - min | 1.00% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | |
Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
---|
Description | Insurance Fee (per annum) |
% of loan amount - min | 28.00% |
% of loan amount - max | 28.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required for | Never |
Criteria | N/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 deposited | N/A |
or, Fixed-amount deposited | N/A |
Deposits DURING period payments
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Interest Paid on Deposit
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Taxes
Are taxes charged on this product? | No |
Additional Comments
Loan term and fees depend on asset type.
Full Pricing Data
Asset Finance Loan samples
No sample data for this product
Asset Finance Loan Price Graphs
No sample data for this product