2. Equity Bank
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  2. FASL
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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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Institution

First Allied Savings and Loans Limited Box 5308OTB 662 Asomfo Road, AdumKumasi, Ashanti
Data approved: 2013-07-15
Data version: 1
Age of data: 132 months

Institution Details

Institution TypeBank
Is this institution regulated?Yes
Website addresshttp://www.equitybank.co.ke/
Year established1984
Head of InstitutionDr. James Mwangi
Regions activeCentral, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western
# Branches112

Total Portfolio (nat'l)KES 126,533,000,000
Total Portfolio (USD)USD 1,528,176,329
Active clients with loans655,969
Approximate % female clients20% - 40%
Approximate % urban clients40% - 60%
Network affiliationsAMFI, WWB, MFN, GNBI
FundersHelios EB Investor LP (HELIOS), British-American Investments Company (Kenya) Ltd, IFC

Institution Details

Institution TypeNon Bank Financial Institution
Is this institution regulated?Yes
Website addresshttp://www.firstalliedghana.com
Year established1996
Head of InstitutionNana Yaw Oduro
Regions activeGreater Accra Region, Central Region, Western Region, Eastern Region, Ashanti Region, Brong Ahafo Region
# Branches21

Total Portfolio (nat'l)GHS 27,673,204.91
Total Portfolio (USD)USD 14,047,312.14
Active clients with loans13,585
Approximate % female clients40% - 60%
Approximate % urban clients60% - 80%
Network affiliationsGhana Microfinance Institutions Network, Ghana Employers Association, Ghana National Chamber of Commerce and Industry
Funders

Loan Products » Summary

Agriculture
418 Borrowers
USD 1,032,439.51 Portfolio
Active Product
Asset
900 Borrowers
USD 3,025,092.36 Portfolio
Active Product
Biashara
33,227 Borrowers
USD 33,248,673.42 Portfolio
Active Product
Business
339 Borrowers
USD 711,816.73 Portfolio
Active Product
Imara
15,474 Borrowers
USD 17,085,372.51 Portfolio
Active Product
Shaba
14,839 Borrowers
USD 7,305,703.83 Portfolio
Active Product
Farm Input
34,018 Borrowers
USD 15,709,402.11 Portfolio
Active Product
Insurance
6,820 Borrowers
USD 4,117,191.73 Portfolio
Active Product
Vijana
29,548 Borrowers
USD 12,511,287.02 Portfolio
Active Product
Fedha
Retired Product

Loan Products » Summary

Golden
3,885 Borrowers
USD 5,006,432.72 Portfolio
Active Product
Commercial
1,134 Borrowers
USD 4,846,607.27 Portfolio
Active Product
Salary
889 Borrowers
USD 304,184.65 Portfolio
Active Product
Super
94 Borrowers
USD 605,463.74 Portfolio
Active Product
Fast Track
239 Borrowers
USD 258,549.42 Portfolio
Active Product
Travel
90 Borrowers
USD 158,851.49 Portfolio
Active Product
Distance
6,833 Borrowers
USD 2,230,976.56 Portfolio
Active Product
Premium
421 Borrowers
USD 636,246.30 Portfolio
Active Product

Loan Products » Conditions

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

Loan Products » Conditions

Product Name Loan Size Range Loan Term (months) % Female % Urban Loan Purpose Eligibility Other Services
Golden Susu Loans GHS 500 - 10,000 3 - 12 40% - 60% 60% - 80% Business Women, Men, Have business Business Training, Other Training
Commercial Loans GHS 1,000 - 300,000 1 - 24 40% - 60% 60% - 80% Business Women, Men, Have business Business Training, Other Training
Salary Loans GHS 200 - 50,000 1 - 36 20% - 40% 60% - 80% Consumer, Education, Other Women, Men, Salaried worker Other Training
Super Golden Susu GHS 10,500 - 50,000 3 - 12 40% - 60% 60% - 80% Business Women, Men, Have business Other Training
Fast Track Susu GHS 2,000 - 10,000 3 - 6 40% - 60% 60% - 80% Business Women, Men, Have business Business Training, Other Training
Travel Loans GHS 2,000 - 10,000 3 - 6 40% - 60% 100% Other Women, Men, Have business, Salaried worker Business Training, Other Training
Distance Banking GHS 1,500 - 10,000 3 - 12 40% - 60% 20% - 40% Business, Agriculture Women, Men, Have business Group Mtgs, Business Training, Other Training
Premium Golden Susu GHS 1,500 - 50,000 3 - 12 40% - 60% 20% - 40% Business, Agriculture Women, Men, Have business Business Training, Other Training

Loan Products » Pricing Information

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

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Golden Susu Loans 36.0% annual, Flat 1 Fee 0 Ins None 20.0%-25.0% upfront 65.6% - 68.3% 105.1% - 111.1% 33
Commercial Loans 31.0%-41.0% annual, Flat 1 Fee 0 Ins None 5.0%-25.0% upfront 70.6% - 72.2% 91.1% - 116.2% 29
Salary Loans 19.0%-28.0% annual, Flat 1 Fee 0 Ins None N/A 32.8% - 51.1% 32.8% - 51.1% 46
Super Golden Susu 36.0% annual, Flat 1 Fee 0 Ins None 5.0%-25.0% upfront 63.5% - 64.7% 101.5% - 105% 34
Fast Track Susu 36.0% annual, Flat 1 Fee 0 Ins None 20.0%-25.0% upfront 66.7% - 68.3% 107.7% - 111% 32
Travel Loans 44.0%-48.0% annual, Flat 1 Fee 0 Ins None 15.0%-25.0% upfront 49.4% - 53% 57.7% - 61.9% 74
Distance Banking 36.0% annual, Flat 1 Fee 0 Ins None 10.0%-25.0% upfront 67.3% - 68.7% 109.4% - 111.6% 32
Premium Golden Susu 36.0% annual, Flat 1 Fee 0 Ins None 10.0%-25.0% upfront 65.5% - 74.4% 104.9% - 125.8% 32

Loan Products » Pricing Information

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 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 Ins None N/A 20% - 20.8% 20.4% - 21.5% 40
Biashara Imara Loan 20.0% annual, Flat 1 Fee 1 Ins 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 Ins None N/A 21.3% - 25% 21.8% - 26.2% 75
Fanikisha - Imara - Loan 20.0% annual, Decl Bal 1 Fee 1 Ins 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 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 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 Ins None N/A 27.2% - 27.3% 27.2% - 27.3% 46
Vijana Business Loan 8.0% annual, Flat 1 Fee 1 Ins Ins None 15.0% upfront 13.4% - 13.9% 20.3% - 21.8% 38

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Golden Susu Loans 36.0% annual, Flat 1 Fee 0 Ins Ins None 20.0%-25.0% upfront 65.6% - 68.3% 105.1% - 111.1% 33
Commercial Loans 31.0%-41.0% annual, Flat 1 Fee 0 Ins Ins None 5.0%-25.0% upfront 70.6% - 72.2% 91.1% - 116.2% 29
Salary Loans 19.0%-28.0% annual, Flat 1 Fee 0 Ins Ins None N/A 32.8% - 51.1% 32.8% - 51.1% 46
Super Golden Susu 36.0% annual, Flat 1 Fee 0 Ins Ins None 5.0%-25.0% upfront 63.5% - 64.7% 101.5% - 105% 34
Fast Track Susu 36.0% annual, Flat 1 Fee 0 Ins Ins None 20.0%-25.0% upfront 66.7% - 68.3% 107.7% - 111% 32
Travel Loans 44.0%-48.0% annual, Flat 1 Fee 0 Ins Ins None 15.0%-25.0% upfront 49.4% - 53% 57.7% - 61.9% 74
Distance Banking 36.0% annual, Flat 1 Fee 0 Ins Ins None 10.0%-25.0% upfront 67.3% - 68.7% 109.4% - 111.6% 32
Premium Golden Susu 36.0% annual, Flat 1 Fee 0 Ins Ins None 10.0%-25.0% upfront 65.5% - 74.4% 104.9% - 125.8% 32
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