Equity Bank - Fanikisha - Shaba - Loan - MFTransparency.org Truth In Lending Tables

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Institution

Equity Bank P.O. Box 75104-00200Hospital Road, Equity Centre, 9th FloorNairobi

Data approved: 2013-09-23

Data version: 2

Age of data: 134 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (KES)	KES 604,912,277
Portfolio (USD)	USD 7,305,703.83
Active Clients with Loans	14,839
Approximate % Female Clients	100%
Approximate % Urban Clients	0% - 20%

Methodology

Individual
Solidarity group
Village banking	x
Self help group
Other

Description

For women in start-up process and micro-enterprises who would like to borrow through a group approach. Targets those in merry-go-round market. Targets women who lack conventional securities.

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education	x
Group meetings	x
Credit insurance	x
Workplace visits	x
Business training	x
Other training	x
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)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	8
# Regions for this product	8
Regions Active	Central, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western

Loan Conditions

Loan Amount

Currency	KES
Minimum loan size	KES 1,000
Maximum loan size	300,000

Distribution at Disbursement (Est.)

Loans less than KES 50,000	40%
KES 50,000-150,000	50%
KES 150,000-250,000	10%
KES 250,000-350,000	0
KES 350,000-450,000	0
Greater than KES 450,000	0

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	18.0 months
Approx average	9.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	10%
Between 7 and 9 months	15%
Between 10 and 12 months	70%
Between 13 and 18 months	5%
Longer than 18 months	0

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly	x
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	1.67%
Highest quoted nominal interest	1.67%
Interest rate period	Monthly
Interest Rate Calculation Method	Decl Bal
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	LACE (Loan Application & Credit Evaluation) Fee
% of loan amount - min	2.00%
% of loan amount - max	3.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	3% for 1st cycle, 2% for multiple cycle loans
Appears on Repayment Sched?	Yes

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Annual Insurance Fee
% of loan amount - min	0.63%
% of loan amount - max	0.63%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	0.625% per annum.
Appears on Repayment Sched?	Yes

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	All
Criteria	Savings interest depends on the balance that is in the account
Is deposit indicated on the repayment schedule?	No
Do borrowers control deposit in their group?	Yes

Deposit BEFORE or AT Disbursement

% loan amount deposited	10.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	0
Conditions on access to deposit	When Leaving

Interest Paid on Deposit

Minimum interest rate paid	1.00%
Maximum interest rate paid	3.00%
Interest payment frequency	Monthly

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Fanikisha - Shaba - Loan samples

	Sample 1	Sample 3	Sample 4	Sample 5	Sample 6
Loan Amount	KES 9,999.95	KES 48,000	KES 94,999.92	KES 189,999.96	KES 319,999.84
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2013-05-28	2013-05-20	2013-05-11	2013-05-03	2013-05-28
Loan Term (Months)	11.0 months	12.0 months	13.0 months	12.0 months	24.0 months
Grace Period (Months)	-0.7 months	0.0 months	0.5 months	-0.4 months	0.0 months
Total Cost of Credit	KES 2,138.77	KES 10,860	KES 21,493.71	KES 41,615.20	KES 136,399.92
True Price by Comp
Interest price component	37.3%	34.4%	32.0%	36.0%	34.1%
Fee Component	4.6%	4.0%	3.7%	4.3%	2.2%
Insurance Component	1.4%	1.2%	1.2%	1.3%	0.7%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	9.4%	7.9%	7.0%	8.8%	6.9%
Full APR (int fee ins tax dep)	52.7%	47.5%	43.9%	50.4%	43.9%
Transparency Index	38	42	46	40	46

Original Repayment Schedule	PDF	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF	PDF

Fanikisha - Shaba - Loan Price Graphs

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
KBL	468,300	120,082,000	16	107
KF	233,600	41,416,000	4	106
NRSP	399,900	70,157,000	3	107
ASA	230,400	29,637,000	3	107
TMFB	221,200	85,449,000	7	107
FMFB	163,544	38,481,323	9	125
TRDP	100,000	13,817,000	3	107
PRSP	75,656	9,907,176	3	125
BRAC^P	57,300	11,869,000	3	107
SRSO	51,100	7,775,000	3	107
SSF	46,000	4,776,000	3	107
FINCA	82,000	43,559,000	9	107
JWS	36,000	6,545,000	2	107
RCDS	35,552	4,856,122	4	125
DAMEN	35,185	7,150,864	1	125
FFO	22,400	3,335,000	3	107
OLP	21,400	3,510,000	3	107
CSC	17,600	3,147,000	1	107
AMRDO	13,800	1,206,000	5	107
WMBL	13,800	6,105,000	3	107
Mojaz	13,400	2,415,000	2	107
SDF	11,500	1,041,000	4	107
POMFB	8,500	2,795,000	4	107
OPD	7,500	918,000	2	107
AGAHE	7,300	797,000	2	107
NRDP	6,184	1,521,972	3	125
GBTI	6,100	669,000	3	125
WASIL	4,300	1,135,000	2	107
Micro Options	4,000	768,000	5	107
VDO	3,900	489,000	3	125
SVDP	3,900	811,000	13	125
SRDO	3,500	766,000	4	107
OSDI	2,000	923,000	3	107
APMBL	1,800	1,401,000	3	107
BEDF	1,400	209,000	3	125
KCDO	800	94,000	1	125

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

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
	Greater than:
	Less or equal to:
	From 0 to
	to
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Institution

Product

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Full Pricing Data

Fanikisha - Shaba - Loan samples

Fanikisha - Shaba - Loan Price Graphs

Total Borrowers of Samples

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