Nano-loans in Kenya

Researchers presented participants with scenarios in which they would acquire loans. When participants were shown the Terms and Conditions, they found that making the Terms and Conditions choice-based changed the rates people read them from 9.5% to 23.8%, and reading them lead to a 7% drop in delinquency rates. Furthermore, separating the financial costs reduced delinquency from 29.1% to 20%, Finally, people who received reminders to pay in the evening, were 8% more likely to pay than those who were reminded in the morning.