2. Family Bank
Please note that the information you are viewing is 166 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Opportunity Kenya
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

Family Bank Ltd. NairobiKenyaP.O. Box 74145
Data approved: 2010-09-13
Data version: 1
Age of data: 166 months

Institution

Opportunity Kenya Limited Geomaps Center, 1st Floor, Matumbato Road, Upper HillP.O. Box 19497Nairobi
Data approved: 2013-05-31
Data version: 2
Age of data: 134 months
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Product

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Product

Nguzo Loan Product 2 of 5 « Prev | Next »

Product Summary

Number borrowers2,000
Loan Amount (range)KES 300,000 - 20,000,000
Loan Term (range)6 - 48
Other Services (text summary)Credit Educ, Credit Ins, Tech Asst Visits
Annual Interest & Method10.6% annual, Flat
Fees3 fees
InsuranceNone
TaxNone
Comp DepN/A
Range of pricing 
Interest Price ComponentN/A
Fee Component23.8% - 27.7% (Int+Fee)
Insurance Component0
Tax Component Range0
Full APR (int fee ins tax dep)23.8% - 27.7%
Transparency Index (min/max)23 - 77
Transparency Index (average)41

Product Summary

219
KES 50,000 - 500,000
6 - 36
Credit Educ, Group Mtgs, Credit Ins, Other Training, Fire/Burglary Insurance
22.0% annual, Flat
1,000.00-0.00 upfront 1,300.00 upfront
1.60%-3.00% upfront
None
25.0% upfront 200.00 ongoing
 
29.8% - 41.0%
2.6% - 20.5%
1.8% - 6.9%
0
67.5% - 112.5%
16 - 36
27

Product Details

Key Statistics
Outstanding portfolio (KES)KES 1,100,000,000
Portfolio (USD)USD 13,285,024.15
Active Clients with Loans2,000
Approximate % Female Clients20% - 40%
Approximate % Urban Clients60% - 80%
Methodology
Individualx
Solidarity groupx
Village banking
Self help group
OtherLimited companies
Description
Credit product to indviduals and SMEs for purchase of motor vehicles
Loan Purpose
Any purpose
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
OtherOnly for purposes of buying assets(motor vehicles)
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurancex
Workplace visitsx
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
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 institutionN/A
# Regions for this productN/A
Regions Active

Product Details

Key Statistics
Outstanding portfolio (KES)KES 15,968,913.11
Portfolio (USD)USD 192,861.27
Active Clients with Loans219
Approximate % Female Clients40% - 60%
Approximate % Urban Clients60% - 80%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Given to groups between 5 to 10 members. Customers are required to have a lease agreement, bank account statement and utility bills. Customers must have been in business for longer than 12 months.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visits
Business training
Other trainingx
OtherFire/Burglary Insurance
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried worker
Must be specific age group
OtherMust have run a business for at least 24 months
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution4
# Regions for this product4
Regions ActiveNairobi, Nyanza, Rift Valley, Western

Loan Conditions

Loan Amount
CurrencyKES
Minimum loan sizeKES 300,000
Maximum loan size20,000,000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term48.0 months
Approx average24.0 months
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyKES
Minimum loan sizeKES 50,000
Maximum loan size500,000
Distribution at Disbursement (Est.)
Loans less than KES 50,00015%
KES 50,000-150,00050%
KES 150,000-250,00020%
KES 250,000-350,00010%
KES 350,000-450,0005%
Greater than KES 450,0005%
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term36.0 months
Approx averageDK
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months15%
Between 7 and 9 months5%
Between 10 and 12 months70%
Between 13 and 18 months10%
Longer than 18 months0
Grace Period
Grace period usage10%
Average grace periodDK
Repayment Frequency
Daily
Weeklyx
Every 2 weeksx
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest10.60%
Highest quoted nominal interest10.60%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionProcessing FeeLegal fee
% of loan amount - min3.00%0
% of loan amount - max3.00%0
OR, Fixed amount - min02,000
Fixed amount - max02,000
Reason for variationN/AN/A
Appears on Repayment Sched?NoNo
Ongoing Fees
Fee 1
DescriptionLedger Fee
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min200
Fixed amount - max200
Reason for variationN/A
Appears on Repayment Sched?Yes
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No
Additional Comments
The loan amount forms 6% of the value of the asset/motor vehicle financed; hence the borrower contributes 4% of the value. Insurance fee is 0.3% of the loan amount multiplied by number of months in loan term.

Pricing Information

Interest
Lowest quoted nominal interest22.00%
Highest quoted nominal interest22.00%
Reason(s) why interest rate variesBranch, Time as Client
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionLoan Application FeeChattels Fee
% of loan amount - min00
% of loan amount - max2.00%0
OR, Fixed amount - min1,0001,300
Fixed amount - max01,300
Reason for variation2% with KES 1000 minimumCharged on all loans
Appears on Repayment Sched?YesYes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Fee
% of loan amount - min1.60%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation<12 month =1.6%, 13-24 months=1.75%, 25+ months=3%. Either upfront or continuing.
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited25.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount depositedKES 200
Conditions on access to depositAccess During
Interest Paid on Deposit
Minimum interest rate paid1.00%
Maximum interest rate paid1.00%
Interest payment frequencyAnnually
Taxes
Are taxes charged on this product?No
Additional Comments
Interest rate revised to 20% flat as of 17-June-2013.

Full Pricing Data

Asset Finance Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountKES 280,000KES 315,000KES 390,000KES 392,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2009-12-242010-01-072010-02-042010-01-08
Loan Term (Months)24.0 months36.0 months24.0 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot Known
True Price by Comp       
Interest and Fee Component25.8%23.8%26.0%27.7%
Insurance Component0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)25.8%23.8%26.0%27.7%
Transparency Index41454138
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF

Full Pricing Data

Nguzo Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5
Loan AmountKES 50,000KES 100,000KES 185,000KES 295,000KES 400,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2013-05-272013-05-152013-05-292013-05-032013-04-30
Loan Term (Months)12.0 months12.0 months18.0 months24.0 months24.0 months
Grace Period (Months)0.2 months0.7 months0.7 months0.5 months0.5 months
Total Cost of CreditKES 14,069.86KES 28,759.73KES 70,198KES 141,364.38KES 191,217.81
True Price by Comp         
Interest price component39.5%41.0%38.4%37.3%37.3%
Fee Component9.8%6.7%3.8%2.7%2.6%
Insurance Component3.5%3.3%1.8%1.8%1.8%
Tax Component0.0%0.0%0.0%0.0%0.0%
Deposit Component59.7%41.6%32.0%26.4%25.8%
Full APR (int fee ins tax dep)112.5%92.6%76.0%68.2%67.5%
Transparency Index2024293233
          
Original Repayment SchedulePDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDF
Asset Finance Loan Price Graphs


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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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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