(A Partnership between Family Bank, Kenya Data Networks (KDN) and the Digital Village Network)
Key Issue
Details
Product
Name: Jipange Na Internet- Laptop financing
(More value for less)
Purpose: To enable customers acquire laptops at affordable, longer repayment plan
Positioning Statement
Who? Family bank Jipange Na internet
What? is a partnership between Family Bank, Kenya Data Network and Digital Village Network that provides financing arrangements to
Whom? individuals, youth groups, self help groups, public and private institutions, sole proprietors, partnerships and companies with a need to acquire
Need? high quality, competively priced computers (laptops)
What difference? unlike other similar products in the market, Jipange Na Internet offers 60 days of free unlimited internet access, as well as affordable, longer loan repayments
For what benefit? and thus giving our customers more value for less
Features and Benefits
Pricing: The product is available at low monthly instalments
Financing: Financing available at any Family Bank branch
Connectivity: Fast, reliable WI-FI connection from KDN Internet hotspots
Insurance: Insurance covers available for the laptops and the customers being financed
Warranty:12 month warranty on laptops
Free Internet: 60 days free internet
Requirements
·Must have a valid quotation from a Digital Village Network (DVN) appointed Agent/re-seller(Please visit any Family Bank branch for more advice on the appointed agents/re-sellers)
·MUST have a bank account with Family Bank
·Ability to contribute 30% of the total cost
·For youth groups, a copy of constitution and minutes from the members allowing borrowing should be availed.
Lap top Specifications
Brand
·MSi U100 – The world’s top loved netbook
Specifications
·Intel atom 1.6GHz
·10.2” WSVGA
·160GB SATA HDD
·1GB DDR2 RAM
·High Res 1.3 MegaPixels Webcam
·USB 3 ports
·VoIP Microphone
·High Performance 2 channel speakers
·Multimedia Application interface
·Wide Variety of Preloaded software
·12 months warranty
Loan Amounts
·Minimum Amount-Kshs. 5,000.00
·Maximum Amount-Kshs. 500,000.00
Mode of Repayment
·Monthly instalments recovered directly from borrower(s) account
Collateral/Security
·At least one guarantor
·Chattels mortgage over household and business assets
Repayment Period
·Maximum repayment period - 12 months
Pricing for Laptops
Vijanaa flat/Youth fund borrowers
·Borrower’s contribution of at least Kshs.7,500/= (i.e. 30% of Kshs.24,999)
·Repayment instalments are Kshs.1,682/= per month for 12 months for the laptops
Other borrowers
·Borrower’s contribution of at least Kshs.7,500/= (i.e. 30% of Kshs.24,999)
·Repayments Instalments are Kshs 1,893/= per month for 12 months for the laptops
Hot spots financing
(KDN will install free wireless hotspots in all 50 Family Bank branches to provide free WIFI Internet at 1 kilometre radius around the branch.)
The objective of this product is to facilitate establishment and maintenance of a network of ICT facilities also known as Digital Villages in the rural and urban centers which includes digital hotspots in all Family Bank Branches.
Digital Villages are e-centres that provide a suite of services to the public via computers connected to the internet via digital cameras, printers, fax machines and other communication infrastructure. These services include e-government services, banking and communication services, e-learning among others.
Family Bank will finance enterprises and individuals to start establishment of such facilities countrywide and to have Internet in their homes and businesses.
Hotspots (Wi-Fi)
A hotspot is a physical location that offers internet access over a wireless LAN through the use of a shared internet connection and a single router.
Hotspots can typically be found in coffee shops and various other public establishments throughout much of North America and Europe. Both paid and free hotspots continue to grow.
A Wi-Fi enabled device such as a personal computer, laptop, mobile phone, MP3 player or personal digital assistant can connect to the Internet when within range of a wireless network connected to the Internet.
The coverage of one or more interconnected access points—called a hotspot —can comprise an area as small as a few rooms or as large as many square miles covered by a group of access points with overlapping coverage.
In addition to private use in homes and offices, Wi-Fi can provide public access at Wi-Fi hotspots provided either free of charge or to subscribers to various commercial services. Organizations and businesses such as airports, hotels and restaurants often provide free hotspots to attract or assist clients
Eligibility
Individuals, youth groups, self help groups, public and private institutions, businesses enterprises in forms of sole proprietorship, partnerships and companies.
Loan Amounts
For establishing a wireless hotspot (a building with internet connection) at Kshs 58,000
To Purchase of laptops and computers that will range from Kshs 20,000 to Kshs 40,000
Working capital for purchase of internet scratch cardsand to access internet) and other products and services.
Note: Family Bank will finance the access to Internet for organizations and individuals after an appraisal as per the Credit Policies and Procedures.
Monthly installments will be recovered directly from borrower(s) account or payment through Family Bank Pepesha Pesa Service.
Collateral/Security ·
For laptops and computer connectivity at least one guarantor
Chattels mortgage over household and business assets including the laptops under purchase
Repayment Period:
12 Months
Benefits:
60 Days Free Internet
Locally Hosted Websites are Free to Browse.
Note:International sites e.g. yahoo, google.com.One will need a stratch-card sold at denominations of Kshs 200 to Kshs 1,000.
Scholar Account