Please note that the information you are viewing is
164 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: 2010-11-22
Data version: 1
Age of data: 164 months
| Institution Type | Credit Union / Cooperative |
| Is this institution regulated? | Yes |
| Website address | N/A |
| Year established | 1963 |
| Head of Institution | IVAN TOBAR |
| Regions active | |
| # Branches | 21 |
| Total Portfolio (nat'l) | USD 88,130,099 |
| Total Portfolio (USD) | USD 88,130,099 |
| Active clients with loans | 22,154 |
| Approximate % female clients | 20% - 40% |
| Approximate % urban clients | 60% - 80% |
| Network affiliations | |
| Funders | |
500 Borrowers
USD 22,845,920 Portfolio
Active Product
5,400 Borrowers
USD 638,600 Portfolio
Active Product
2,020 Borrowers
USD 8,509,955 Portfolio
Active Product
61 Borrowers
USD 250,461 Portfolio
Active Product
Loan Products » Conditions
| Product Name |
|
Loan Size Range |
|
Loan Term (months) |
|
% Female |
|
% Urban |
|
Loan Purpose |
|
Eligibility |
|
Other Services |
| CNMPE |
|
USD 600 - 8,000 |
|
12 - 36 |
|
20% - 40% |
|
80% - 100% |
|
Any Purpose |
|
Women, Men, Salaried worker, Specific age group |
|
Credit Ins |
| MICM |
|
USD 200 - 20,000 |
|
8 - 10 |
|
80% - 100% |
|
20% - 40% |
|
Any Purpose |
|
Women |
|
Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits |
| MICON |
|
USD 600 - 20,000 |
|
6 - 36 |
|
20% - 40% |
|
60% - 80% |
|
Any Purpose |
|
Women, Men, Have business |
|
Credit Ins |
| MICPE |
|
USD 600 - 8,000 |
|
2 - 36 |
|
20% - 40% |
|
40% - 60% |
|
Business |
|
Women, Men, Have business |
|
Credit Ins, Tech Asst Visits |
Loan Products » Pricing Information
| Product Name |
|
Annual Nominal Interest |
|
Fees |
|
Insurance |
|
Taxes |
|
Compulsory Deposit |
|
APR (int+fee) |
|
Full APR |
|
Transparency Index |
| CNMPE |
|
15.2% annual, Decl Bal |
|
1 Fee |
|
0 Ins |
|
None |
|
1.5% upfront |
|
15.4% - 16.1% |
|
16.4% - 16.5% |
|
92 |
| MICM |
|
25.7% annual, Decl Bal |
|
1 Fee |
|
0 Ins |
|
None |
|
3.0% upfront |
|
26.1% - 29.6% |
|
29.2% - 33.7% |
|
84 |
| MICON |
|
22.8% annual, Decl Bal |
|
1 Fee |
|
0 Ins |
|
None |
|
3.00% ongoing |
|
21.4% - 24.4% |
|
23.1% - 25.5% |
|
92 |
| MICPE |
|
24.5% annual, Decl Bal |
|
1 Fee |
|
0 Ins |
|
None |
|
3.0% upfront |
|
22.7% - 24.8% |
|
24.5% - 26.7% |
|
93 |
Please note that the information you are viewing is
135 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: 2010-09-13
Data version: 1
Age of data: - months
Key Statistics
| Outstanding portfolio (KES) | KES 412,152,994 |
| Portfolio (USD) | USD 4,977,693.16 |
| Active Clients with Loans | 42,630 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 0% - 20% |
Methodology
| Individual | |
| Solidarity group | |
| Village banking | x |
| Self help group | |
| Other | |
Description
The Nuru loan product is only available to clients in a solidarity group. The loan ranges from Kshs 5,000 to Kshs 200,000. Every client must be over 18 years of age.
Loan Purpose
| Any purpose | x |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | |
| Business training | x |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| Men | |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) | |
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 5,000 |
| Maximum loan size | 200,000 |
Loan Term and Grace Period
| Shortest loan term | 15.0 months |
| Longest loan term | 36.0 months |
| Approx average | 24.0 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 | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 18.00% |
| Highest quoted nominal interest | 18.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | N/A |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Application Fee |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 2.00% |
| 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
This product has no upfront insurance feesOngoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? | |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 40.00% - N/A |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | KES 200 - N/A |
| Conditions on access to deposit | End Term |
Interest Paid on Deposit
| Minimum interest rate paid | 2.00% |
| Maximum interest rate paid | 4.00% |
| Interest payment frequency | End Term |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Clients continue with compulsory savings during the loan period. The excess savings over and above 4% can be used to repay the loan. The client may also choose to use the savings to clear the loan if more than the loan balance.
Full Pricing Data
Nuru Loan samples
No sample data for this product
Nuru Loan Price Graphs
No sample data for this product
