Institution Type | Bank |
Is this institution regulated? | Yes |
Website address | http://www.equitybank.co.ke/ |
Year established | 1984 |
Head of Institution | Dr. James Mwangi |
Regions active | Central, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western |
# Branches | 112 |
Total Portfolio (nat'l) | KES 126,533,000,000 |
Total Portfolio (USD) | USD 1,528,176,329 |
Active clients with loans | 655,969 |
Approximate % female clients | 20% - 40% |
Approximate % urban clients | 40% - 60% |
Network affiliations | AMFI, WWB, MFN, GNBI |
Funders | Helios EB Investor LP (HELIOS), British-American Investments Company (Kenya) Ltd, IFC |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Agricultural Commercial Loan | KES 100,000 - 4,000,000,000 | 1 - 36 | 20% - 40% | 0% - 20% | Agriculture, Purchase of farm inputs and farm machinery. | Women, Men, Must be in commercial farming for over a year, Active account with Equity | Credit Ins | |||||||
Asset Finance Loan | KES 100,000 - 4,000,000,000 | 1 - 48 | 20% - 40% | 40% - 60% | Business, Loan specifically used for purchase of assets. | Women, Men, Equity customer for at least a month or other bank statement, Purchased asset is used as loan security | Credit Ins | |||||||
Biashara Imara Loan | KES 5,000 - 500,000 | 1 - 18 | 20% - 40% | 20% - 40% | Business | Women, Men, Have business, Operated the business for over a year | Credit Ins, Tech Asst Visits, Business Training | |||||||
Business Loan | KES 300,000 - 4,000,000,000 | 1 - 60 | 20% - 40% | 40% - 60% | Business | Women, Men, Have business, Operated the business for over a year, Active account for over 6 mos with Equity or other bank | Credit Ins | |||||||
Fanikisha - Imara - Loan | KES 30,000 - 500,000 | 1 - 18 | 100% | 20% - 40% | Business | Women, Have business | Credit Ins, Tech Asst Visits, Business Training, Access to business improvement training at discount rates. | |||||||
Fanikisha - Shaba - Loan | KES 1,000 - 300,000 | 6 - 18 | 100% | 0% - 20% | Business | Women | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training | |||||||
Farm Input Loan | KES 1,000 - 100,000 | 1 - 12 | 20% - 40% | 0% | Business, Purchase of farm inputs | Women, Men, Must be in small scale or commercial farming, Active Equity Bank account | Credit Ins | |||||||
Insurance Premium Finance Loan | KES 5,000 - 4,000,000,000 | 4 - 10 | 0% - 20% | 40% - 60% | Can only be used for financing insurance premiums. | Women, Men | ||||||||
Vijana Business Loan | KES 1,000 - 100,000 | 1 - 12 | 20% - 40% | 20% - 40% | Business | Women, Men, Have business, Specific age group, Must have undergone group training, Mustbe 18-35 years old | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Agricultural Commercial Loan | 18.0% annual, Decl Bal | 1 Fee | 1 Ins | None | N/A | 21.3% - 24.9% | 21.7% - 26.5% | 77 | ||||||||
Asset Finance Loan | 8.5%-10.0% annual, Flat | 1 Fee | 1 Ins | None | N/A | 20% - 20.8% | 20.4% - 21.5% | 40 | ||||||||
Biashara Imara Loan | 20.0% annual, Flat | 1 Fee | 1 Ins | None | N/A | 37.4% - 44% | 38.5% - 46.3% | 49 | ||||||||
Business Loan | 18.0%-20.0% annual, Decl Bal | 1 Fee | 1 Ins | None | N/A | 21.3% - 25% | 21.8% - 26.2% | 75 | ||||||||
Fanikisha - Imara - Loan | 20.0% annual, Decl Bal | 1 Fee | 1 Ins | None | N/A | 36.8% - 44.3% | 37.7% - 46.6% | 49 | ||||||||
Fanikisha - Shaba - Loan | 20.0% annual, Decl Bal | 1 Fee | 1 Ins | None | 10.0% upfront | 35.7% - 41.9% | 43.9% - 52.7% | 42 | ||||||||
Farm Input Loan | 19.0% annual, Flat | 1 Fee | 1 Ins | None | N/A | 25.6% - 40.3% | 27.1% - 41.6% | 57 | ||||||||
Insurance Premium Finance Loan | 12.6%-13.5% annual, Flat | 0 Fees | 0 Ins | None | N/A | 27.2% - 27.3% | 27.2% - 27.3% | 46 | ||||||||
Vijana Business Loan | 8.0% annual, Flat | 1 Fee | 1 Ins | None | 15.0% upfront | 13.4% - 13.9% | 20.3% - 21.8% | 38 |
Outstanding portfolio (KHR) | KHR 23,394,280,800 |
Portfolio (USD) | USD 5,922,602.73 |
Active Clients with Loans | 15,264 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 60% - 80% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | x |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | |
Group meetings | |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services | x |
Men | x |
Women | x |
Must run a business | x |
Must own a home or land | x |
Must be a salaried worker | |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | 22 |
# Regions for this product | 22 |
Regions Active | Banteay Meanchey, Battambang, Kampong Cham, Kampong Chhnang, Kampong Speu, Kampong Thom, Kampot, Kandal, Koh KongKratié, Oddar Meancheay, Pailin, Phnom Penh, Sihanoukville, Preah Vihear, Pursat, Prey Veng, RatanakiriSiem Reap, Stung Treng, Svay Rieng, Takéo |
Currency | KHR |
Minimum loan size | KHR 200,000 |
Maximum loan size | 20,000,000 |
Loans less than KHR 1,000,000 | 0 |
KHR 1,000,000-3,500,000 | 30% |
KHR 3,500,000-6,000,000 | 30% |
KHR 6,000,000-8,000,000 | 15% |
KHR 8,000,000-10,000,000 | 10% |
Greater than KHR 10,000,000 | 10% |
Shortest loan term | 1.0 month |
Longest loan term | 30.0 months |
Approx average | 15.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 5% |
Between 7 and 9 months | 5% |
Between 10 and 12 months | 90% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 0 |
Average grace period | 0 |
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 |
Lowest quoted nominal interest | 2.30% |
Highest quoted nominal interest | 3.50% |
Reason(s) why interest rate varies | Time as Client, Loan Size, Client Risk, Loan Purpose |
Interest rate period | Monthly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Upfront fee |
% of loan amount - min | 0.20% |
% of loan amount - max | 0.20% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Fee charged are based on loan size. |
Appears on Repayment Sched? | No |
Required for | Never |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | N/A |
Do borrowers control deposit in their group? | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | KHR 300,000 | KHR 600,000 | KHR 1,200,000 | KHR 2,500,000 | KHR 7,200,000 | KHR 12,000,000 | |||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
Disbursement Date | 2013-03-21 | 2013-01-22 | 2013-01-02 | 2013-02-12 | 2013-03-20 | 2013-01-16 | |||||
Loan Term (Months) | 11.0 months | 12.0 months | 10.0 months | 12.0 months | 25.0 months | 24.0 months | |||||
Grace Period (Months) | 0.6 months | -0.2 months | 0.0 months | -0.1 months | 0.5 months | 0.0 months | |||||
Total Cost of Credit | KHR 52,000 | KHR 96,000 | KHR 168,900 | KHR 414,800 | KHR 2,384,500 | KHR 3,813,200 | |||||
True Price by Comp | |||||||||||
Interest price component | 33.1% | 30.1% | 30.1% | 30.0% | 30.0% | 30.1% | |||||
Fee Component | 0.4% | 0.4% | 0.4% | 0.4% | 0.3% | 0.2% | |||||
Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Full APR (int fee ins tax dep) | 33.5% | 30.5% | 30.5% | 30.4% | 30.3% | 30.3% | |||||
Transparency Index | 82 | 91 | 90 | 91 | 91 | 91 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
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Loan Portfolio (USD) | |
% Products using declining balance | |
% Products with one or more fee | |
% Products with one or more insurances | |
% Products with compulsory deposits |
Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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