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Institution
Data approved: 2012-10-16
Data version: 2
Age of data: 144 months
Key Statistics
| Outstanding portfolio (UGX) | UGX 1,619,171,052 |
| Portfolio (USD) | USD 647,668 |
| Active Clients with Loans | 1,440 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 20% - 40% |
Methodology
| Individual | x |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
Gives salaried people ability and flexibility to meet their financial obligations while paying back in monthly manageable installments.
Loan Purpose
| Any purpose | x |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| Men | x |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | x |
| Must be specific age group | x |
| Other | Age 18 and above |
| Other (2) | Must open a savings salary account at Finance Trust |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 4 |
| # Regions for this product | 4 |
| Regions Active | Central, Eastern, Northern, Western |
Loan Conditions
Loan Amount
| Currency | UGX |
| Minimum loan size | UGX 100,000 |
| Maximum loan size | 10,000,000 |
Distribution at Disbursement (Est.)
| Loans less than UGX 1,000,000 | 20% |
| UGX 1,000,000-5,000,000 | 20% |
| UGX 5,000,000-7,500,000 | 20% |
| UGX 7,500,000-10,000,000 | 20% |
| UGX 10,000,000-13,000,000 | 20% |
| Greater than UGX 13,000,000 | 20% |
Loan Term and Grace Period
| Shortest loan term | 3.0 months |
| Longest loan term | 24.0 months |
| Approx average | 24.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 5% |
| Between 7 and 9 months | 5% |
| Between 10 and 12 months | 10% |
| Between 13 and 18 months | 5% |
| Longer than 18 months | 75% |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0 |
Repayment Frequency
| 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 | |
Pricing Information
Interest
| Lowest quoted nominal interest | 27.00% |
| Highest quoted nominal interest | 27.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 | | Fee 2 |
|---|
| Description | Loan Commission | | Loan Processing Fee |
| % of loan amount - min | 2.00% | | 2.00% |
| % of loan amount - max | 2.00% | | 2.00% |
| OR, Fixed amount - min | 0 | | 0 |
| Fixed amount - max | 0 | | 0 |
| Reason for variation | n/a | | n/a |
| Appears on Repayment Sched? | No | | No |
Ongoing Fees
| Fee 1 |
|---|
| Description | Monitoring Fee |
| % of loan amount - min | 0.20% |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 5,000 |
| Reason for variation | Capped at 5000 UGX |
| Appears on Repayment Sched? | Yes |
Upfront Insurance Fees
| Ins 1 |
|---|
| Description | Loan Insurnance |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.50% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | 1% < 1 year. 1.5% for loans> 1 year |
| Appears on Repayment Sched? | No |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | Never |
| Criteria | N/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 deposited | N/A |
| or, Fixed-amount deposited | N/A |
Deposits DURING period payments
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
Interest Paid on Deposit
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
There are other loan related charges born by the borrower that vary depending on collateral and assessment cost, mortgage & caveat fees, land and motor vehicle searches.
Full Pricing Data
Salary Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | UGX 280,000 | | UGX 800,000 | | UGX 1,400,000 | | UGX 3,000,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2012-08-23 | | 2012-07-27 | | 2012-08-24 | | 2012-08-24 |
| Loan Term (Months) | 6.0 months | | 25.0 months | | 25.0 months | | 25.0 months |
| Grace Period (Months) | 0.9 months | | 1.3 months | | 0.3 months | | 1.3 months |
| Total Cost of Credit | UGX 63,800 | | UGX 524,000 | | UGX 900,200 | | UGX 1,905,000 |
| True Price by Comp | | | | | | | |
| Interest price component | 45.1% | | 43.8% | | 43.6% | | 43.5% |
| Fee Component | 28.5% | | 8.8% | | 7.9% | | 7.3% |
| Insurance Component | 3.8% | | 1.7% | | 1.7% | | 1.7% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 77.4% | | 54.3% | | 53.2% | | 52.5% |
| Transparency Index | 35 | | 50 | | 51 | | 51 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
