| Number borrowers | 12,383 |
| Loan Amount (range) | KES 50,000 - 10,000,000 |
| Loan Term (range) | 6 - 60 |
| Other Services (text summary) | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training |
| Annual Interest & Method | 11.2%-20.0% annual, Flat |
| Fees | 1.00%-1.50% upfront upfront |
| Insurance | 1.25% upfront |
| Tax | None |
| Comp Dep | 10.0%-20.0% upfront 50.00-0.00 ongoing |
| Range of pricing | |
| Interest Price Component | 34.5% - 38.0% |
| Fee Component | 1.4% - 7.7% |
| Insurance Component | 1.2% - 4.6% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 43.9% - 56.7% |
| Transparency Index (min/max) | 20 - 43 |
| Transparency Index (average) | 22 |
| 219 |
| PHP 60,000 - 120,000 |
| 12 - 36 |
| Credit Educ, Credit Ins |
| 21.0% annual, Decl Bal |
| 4.00% upfront 100.00 upfront |
| 1.50% upfront 26.00 ongoing |
| None |
| 6.5% upfront 26.00 ongoing |
| N/A |
| 24.5% (Int+Fee) |
| 2.2% - 83.9% |
| 0 |
| 31.6% - 33.4% |
| 15 - 136 |
| 65 |
| Outstanding portfolio (KES) | KES 92,369,084 |
| Portfolio (USD) | USD 1,115,568.65 |
| Active Clients with Loans | 12,383 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | Membership of 15-30 individuals. |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | x |
| Business training | x |
| Other training | x |
| Other | |
| Other (2) | |
| No other services |
| Men | |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Must be willing to set up a viable business |
| Other (2) |
| # Regions for this institution | 8 |
| # Regions for this product | 8 |
| Regions Active | Central, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western |
| Outstanding portfolio (PHP) | PHP 8,101,654.63 |
| Portfolio (USD) | USD 193,819.49 |
| Active Clients with Loans | 219 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | x |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Must have MIGS status |
| Other (2) | Must be Coop member |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | KES |
| Minimum loan size | KES 50,000 |
| Maximum loan size | 10,000,000 |
| Loans less than KES 50,000 | 100% |
| KES 50,000-150,000 | 0 |
| KES 150,000-250,000 | 0 |
| KES 250,000-350,000 | 0 |
| KES 350,000-450,000 | 0 |
| Greater than KES 450,000 | 0 |
| Shortest loan term | 6.0 months |
| Longest loan term | 60.0 months |
| Approx average | 12.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 20% |
| Between 7 and 9 months | 30% |
| Between 10 and 12 months | 30% |
| Between 13 and 18 months | 10% |
| Longer than 18 months | 10% |
| 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 |
| Currency | PHP |
| Minimum loan size | PHP 60,000 |
| Maximum loan size | 120,000 |
| Shortest loan term | 12.0 months |
| Longest loan term | 36.0 months |
| Approx average | 0 |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | x |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 0.93% |
| Highest quoted nominal interest | 1.67% |
| Reason(s) why interest rate varies | Loan Size |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Loan Processing Fee | Chattels Fee | |
| % of loan amount - min | 1.00% | 0 | |
| % of loan amount - max | 1.50% | 0 | |
| OR, Fixed amount - min | 0 | 0 | |
| Fixed amount - max | 0 | 1,500 | |
| Reason for variation | Loans below 100,000 KES = 1.5% with 250 KES minimum. Loans 100,000 KES and above = 1% | Charged only on loans KES 100,000 and above. | |
| Appears on Repayment Sched? | No | No |
| Ins 1 | |
|---|---|
| Description | Risk Management Fee |
| % of loan amount - min | 1.25% |
| % of loan amount - max | 1.25% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Required for | All |
| Criteria | Idv loans =10% upfront & 1% ongoing. Grp Loans <KES 100,000 =10% upfront & >KES 100,000 =20% upfront. Loans >KES 45,000 =KES 400 ongoing, <KES 45,000 loans =KES 50 ongoing. |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 10.00% - 20.00% |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | 0 - 1.00% |
| or, Fixed-amount deposited | KES 50 - 0 |
| Conditions on access to deposit | When Leaving |
| Minimum interest rate paid | 2.00% |
| Maximum interest rate paid | 6.00% |
| Interest payment frequency | End Term |
| Are taxes charged on this product? | No |
| Lowest quoted nominal interest | 1.75% |
| Highest quoted nominal interest | 1.75% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Service Fee | Notarial Fee | |
| % of loan amount - min | 4.00% | 0 | |
| % of loan amount - max | 4.00% | 0 | |
| OR, Fixed amount - min | 0 | 100 | |
| Fixed amount - max | 0 | 100 | |
| Reason for variation | N/A | ||
| Appears on Repayment Sched? | No | No |
| Ins 1 | |
|---|---|
| Description | Credit Insurance |
| % of loan amount - min | 1.50% |
| % of loan amount - max | 1.50% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Ins 1 | |
|---|---|
| Description | MBA, Life and Retirement Insurance |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 26 |
| Fixed amount - max | 26 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? |
| % loan amount deposited | 6.50% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | PHP 26 |
| Conditions on access to deposit | Access During |
| Minimum interest rate paid | 3.00% |
| Maximum interest rate paid | 3.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | KES 50,000 | KES 200,000 | KES 308,000 | KES 400,000 | KES 528,000 | ||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
| Disbursement Date | 2013-03-15 | 2013-03-27 | 2013-05-28 | 2013-05-17 | 2013-04-11 | ||||
| Loan Term (Months) | 7.0 months | 12.0 months | 24.0 months | 25.0 months | 18.0 months | ||||
| Grace Period (Months) | 0.0 months | -0.2 months | -0.2 months | 1.0 month | 0.0 months | ||||
| Total Cost of Credit | KES 7,824.31 | KES 44,880.60 | KES 130,813.28 | KES 189,093.73 | KES 172,138.95 | ||||
| True Price by Comp | |||||||||
| Interest price component | 36.8% | 34.6% | 34.6% | 34.5% | 34.6% | ||||
| Fee Component | 4.6% | 3.5% | 1.6% | 1.4% | 1.8% | ||||
| Insurance Component | 4.0% | 2.6% | 1.5% | 1.2% | 1.7% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 11.3% | 8.6% | 18.4% | 6.8% | 7.6% | ||||
| Full APR (int fee ins tax dep) | 56.7% | 49.3% | 56.1% | 43.9% | 45.7% | ||||
| Transparency Index | 20 | 23 | 20 | 26 | 24 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | PHP 70,000 | PHP 90,000 | PHP 120,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2011-01-26 | 2011-03-09 | 2009-12-23 | ||
| Loan Term (Months) | 35.0 months | 35.0 months | 35.0 months | ||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | Not Known | Not Known | Not Known | ||
| True Price by Comp | |||||
| Interest and Fee Component | 24.5% | 24.5% | 24.5% | ||
| Insurance Component | 4.0% | 3.4% | 2.9% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 4.9% | 4.5% | 4.2% | ||
| Full APR (int fee ins tax dep) | 33.4% | 32.4% | 31.6% | ||
| Transparency Index | 63 | 65 | 67 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Key Statistics | |
|---|---|
| # Samples: | |
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| # 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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