On-Time Repayment Rate Calculation

Discussion in 'Borrower Questions' started by ojtos, Aug 13, 2014.

  1. ojtos

    ojtos Forum Member Volunteer Mentor

    @jonas , this thread needs your attention. I am affected and while seeking clarification, I pointed to many other profiles which had these anormalies. Mine was a simple few days delay and even after recovering and paying in time, my on-time-repayment was moved to 95%, then to 88% down to 87% and even until now, while I repay in time and have never defaulted, am still below the 95% mark...To that effect, I did write to services( months ago), to protest and say that it was deliberate to prevent me from issuing invites, while still maintaining and promoting me as a hard working VM...
     
    CMK71, mutungah and elisabethoue like this.
  2. david murage

    david murage Forum Member

    i have the same problem.In my last loans i have paid all my instalments even before time.I took the same amount and have paid in time yet my ontime rate change from 100% to 94% on wednesday 21st and (11).It is not true that my loan has been due 11 weeks.Am confused.
    See www.zidisha.org/microfinance/wachir5/8717.html
     
  3. david murage

    david murage Forum Member

    i have the same problem.In my last loans i have paid all my instalments even before time.I took the same amount and have paid in time yet my ontime rate change from 100% to 94% on wednesday 21st and (11).It is not true that my loan has been due 11 weeks.Am confused.
    See www.zidisha.org/microfinance/wachir5/8717.html
     
  4. david murage

    david murage Forum Member

    i have the same problem.In my last loans i have paid all my instalments even before time.I took the same amount and have paid in time yet my ontime rate change from 100% to 94% on wednesday 21st and (11).It is not true that my loan has been due 11 weeks.Am confused.
    See www.zidisha.org/microfinance/wachir5/8717.html
     
  5. Jean Wendpanga

    Jean Wendpanga Gold Member Volunteer Mentor


    Please David, your link isn't correct. Thank
     
  6. Halima Salim

    Halima Salim Forum Member

    Hi Zidisha Group/Lenders
    I have been paying my loan on time nicely and it was saying i am 100% on time.
    But since zidisha changed to new system, i have lost my 100% on time. Why this happened? It is now saying my paying rate is 69%
    This is not right please confirm.
    https://www.zidisha.org/loan/10183
     
  7. KirstenShute

    KirstenShute Gold Member

    Hello Halima,
    Another borrower reported the same problem (Michael Gakure in http://forum.zidisha.org/threads/the-new-zidisha.1457/) so perhaps it's a bug. I imagine the programming staff have a lot on their hands right now so they might not answer right away, but you can email service@zidisha.org with your profile link.
    KS
     
    Halima Salim likes this.
  8. Joseph Gatiba

    Joseph Gatiba Gold Member Volunteer Mentor

    KirstenShute likes this.
  9. questionmark

    questionmark Forum Member

    Hi @Halima Salim ,

    the 'old' on-time repayment calculation had its challanges and in my view it was not always correct. Whether the new one will be more accurate is still to be seen.
    Looking at your repayments in your past loan the 100% was my opinion a mistake/wrong. You missed your first 3 installements (Jun 12 to Jun 26) and rescheduled on Jun 29. Then again you missed a repayment on Jul 17 and rescheduled on Jul 24 and missed a repayment on Aug 7. Now I'm not sure how the newly displayed 69% (16) is calculated nor if it's correct. My best guess is that it reflects the 11 installments (out of 16 due) that you repaid on time (within a 10 days range). 11/16=68.75%
    In my view, this is possibly a more accurate measure of your on-time repayment pattern than the "old" 100% . Nonetheless I happy to see that your new loan was fully funded.
     
    Marto, KirstenShute and Shehi like this.
  10. langat

    langat Forum Member

    am having the same problem current credit limit reduced but before i was doing 100% on my on time repayment level but now drastically dropped to 93.3%
     
  11. Esau Alego

    Esau Alego Forum Member

    i am new here and want to take a loan. Please advice on how the repayment is done
     
  12. Marto

    Marto Sky is the limit Volunteer Mentor

    Hi Esau, first thanks for choosing Zidisha. If you are in Kenya, payment is always done through M-pesa Paybilll number 600201 and then yuo use your phone number as the account no. However, if you are outside kenya, please contact your Volunteer mentor for instructions since different countries have different payment modes.
    All the best in Zidisha.
     
  13. Esau Alego

    Esau Alego Forum Member

    Thanks a lot for the info
     
  14. VICTOR CHELUGET

    VICTOR CHELUGET Forum Member

    My account have the same problem too. I was late in two of my payments and my rating dropped to 67%!....I followed up with several small payments and is yet to pick. I think there is something wrong with the calculations.
     
  15. Bailey

    Bailey Silver Member

    Hi Victor,

    I am sorry to hear that you are experiencing this issue. I suggest that you email service@zidisha.org, and they can help you investigate the reason behind your on-time payment rate.

    Thanks!
     
  16. LYDIA CHEPKORIR

    LYDIA CHEPKORIR Silver Member

    My credit limit did not update well. I repaid my installments in amounts less than 50% but did not get a credit increase. I also maintained a 100% on time repayments. I wrote to support 3 days ago but nobody has responded.Here is my account https://www.zidisha.org/loan/11455#comment-tips
    Kindly update my account
     
  17. VICTOR CHELUGET

    VICTOR CHELUGET Forum Member

    @Bailey
    Thank you for your response. I have written to support now awaiting their reply.
    Thank you
     
  18. GILBERT KIBET

    GILBERT KIBET Silver Member Volunteer Mentor

    Two of my mentees have reported this problem. Did the creteria of rating borrowers and awarding limits change?
     
    Last edited: Apr 29, 2015
    LYDIA CHEPKORIR likes this.
  19. Hana Burkonova

    Hana Burkonova Gold Member

    Dear Lydia,

    I am sorry for the confusion. I checked and our rule states that one shall 'Distribute loan repayments over a series of regular installments, rather than repaying the entire amount in a single large payment. A "large payment" is defined as repaying more than 50% of the loan within a single week'. I can see on your profile that you paid more then 70% of the loan within the last week.

    Best wishes,

    Hana
     
  20. Hana Burkonova

    Hana Burkonova Gold Member

    Dear Gilbert,

    Thanks for pointing the other cases. As I mentioned to Lydia, our rule states that one should not repay more then 50% of the loan within a week. If your mentees still believe they did not repay that much, can you ask them to e-mail us on service@zidisha.org? Thanks.

    Best wishes,

    Hana
    Zidisha team
     
    LYDIA CHEPKORIR likes this.

Share This Page