Institution Type | Non Bank Financial Institution |
Is this institution regulated? | No |
Website address | N/A |
Year established | 2010 |
Head of Institution | Thaddeo W. Mashera |
Regions active | Arusha, Dar es Salaam, Mwanza |
# Branches | 5 |
Total Portfolio (nat'l) | TZS 800,400,221 |
Total Portfolio (USD) | USD 503,396.37 |
Active clients with loans | 1,538 |
Approximate % female clients | 60% - 80% |
Approximate % urban clients | 20% - 40% |
Network affiliations | TAMFI |
Funders | Gatsby Charity Fund, Tanzania Gatsby Trust |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jamii Loan | TZS 50,000 - 2,000,000 | 3 - 12 | 60% - 80% | 20% - 40% | Business | Women, Men, Have business | Business Training | |||||||
Personal Loan | TZS 1,000,000 - 10,000,000 | 6 - 24 | 40% - 60% | 40% - 60% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jamii Loan | 30.00% annual, Flat | 2 Fees | 1 Ins | None | 10.00% upfront | 53.3% - 59.1% | 68.7% - 75.8% | 41 | ||||||||
Personal Loan | 24.00% annual, Flat | 2 Fees | 1 Ins | None | 15.00% upfront | 42.8% - 47.5% | 57.5% - 66.4% | 38 |
Outstanding portfolio (PHP) | PHP 3,405,503 |
Portfolio (USD) | USD 81,471.36 |
Active Clients with Loans | 1,200 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 20% - 40% |
Individual | |
Solidarity group | |
Village banking | x |
Self help group | x |
Other |
Any purpose | x |
Income generation | |
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 | |
Other | |
Other (2) | |
No other services |
Men | x |
Women | x |
Must run a business | x |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | PHP |
Minimum loan size | PHP 5,000 |
Maximum loan size | 15,000 |
Shortest loan term | 6.0 months |
Longest loan term | 12.0 months |
Approx average | 0 |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | x |
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 | 3.00% |
Highest quoted nominal interest | 3.00% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | Yes |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Service Charge |
% of loan amount - min | 3.00% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | |
Appears on Repayment Sched? | No |
Ins 1 | |
---|---|
Description | Life Insurance - Registration |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 300 |
Fixed amount - max | 300 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Ins 1 | |
---|---|
Description | Life Insurance |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 20 |
Fixed amount - max | 20 |
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 | 5.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | PHP 20 |
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 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | PHP 6,000 | PHP 8,000 | PHP 10,000 | PHP 15,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2011-02-14 | 2011-08-22 | 2011-04-18 | 2011-05-09 | |||
Loan Term (Months) | 11.7 months | 11.7 months | 11.7 months | 11.7 months | |||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||
Total Cost of Credit | Not Known | Not Known | Not Known | Not Known | |||
True Price by Comp | |||||||
Interest and Fee Component | 73.8% | 73.8% | 73.8% | 73.8% | |||
Insurance Component | 41.0% | 30.7% | 24.5% | 16.3% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 24.3% | 19.0% | 16.1% | 12.5% | |||
Full APR (int fee ins tax dep) | 139.1% | 123.5% | 114.4% | 102.6% | |||
Transparency Index | 26 | 29 | 31 | 35 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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