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Institution
Data approved: 2014-11-19
Data version: 3
Age of data: 121 months
Description
A group of 10-25 neighbours co-guarantee each other. Members get training before receiving loans. Amounts range from 50,000 to 600,000 for first time & up to 6,000,000 for subsequent loans. Borrowers are insured against personal accident.
Any purpose Income generation x Mortgage/housing Consumer loan Agriculture x Education x Other household finance Other Other (2)
Credit education x Group meetings x Credit insurance x Workplace visits Business training 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 x Other Other (2)
Portfolio Size by Product
Geographic Coverage
# Regions for this institution 5 # Regions for this product 5 Regions Active Central, Eastern, Northern, Western, Southern
Loan Conditions
Currency UGX Minimum loan size UGX 50,000 Maximum loan size 10,000,000
Loans less than UGX 1,000,000 40% UGX 1,000,000-5,000,000 30% UGX 5,000,000-7,500,000 30% UGX 7,500,000-10,000,000 0 UGX 10,000,000-13,000,000 0 Greater than UGX 13,000,000 0
Shortest loan term 4.0 months Longest loan term 8.0 months Approx average 5.0 months
Loans 3 months or less 0 Between 4 and 6 months 70% Between 7 and 9 months 30% Between 10 and 12 months 0 Between 13 and 18 months 0 Longer than 18 months 0
Daily Weekly Every 2 weeks x 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 68.80% Highest quoted nominal interest 68.80% Interest rate period Yearly Interest Rate Calculation Method Decl Bal Subsidized by funder request? No Is rate fixed for entire loan term Yes
Upfront Fees Fee 1 Description Disbursement Fee % of loan amount - min 1.00% % of loan amount - max 2.00% OR, Fixed amount - min 0 Fixed amount - max 0 Reason for variation 1% for monthly, 2% for weekly & biweekly loans Appears on Repayment Sched? No
Ongoing Fees This product has no ongoing fees Upfront Insurance Fees This product has no upfront insurance fees Ongoing Insurance Fees This product has no ongoing insurance fees
Required for All Criteria N/A Is deposit indicated on the repayment schedule? No Do borrowers control deposit in their group? No
Deposit BEFORE or AT Disbursement
% loan amount deposited 10.00% or, Fixed-amount deposited 0
Deposits DURING period payments
% loan amount deposited 1.00% or, Fixed-amount deposited 0 Conditions on access to deposit Access During
Interest Paid on Deposit
Minimum interest rate paid 3.00% Maximum interest rate paid 3.00% Interest payment frequency Monthly
Taxes
Are taxes charged on this product? No
Additional Comments
The product depends on group solidality as the basic security
Full Pricing Data
FINCA Village Group Loan sample s
True Price by Component
Interest price component
Fee Component
Insurance Component
Tax Component
Deposit Component
UGX 1,000,000
Real
2014-11-13
6.0 months
N/A
UGX 220,003.33
84.3%
67.4%
3.6%
0.0%
0.0%
13.3%
82
PDF
PDF
UGX 1,000,000
Generated
2015-02-01
6.0 months
N/A
UGX 210,745.21
84.8%
67.0%
3.7%
0.0%
0.0%
14.1%
81
-
PDF
UGX 1,000,000
Real
2014-11-13
6.0 months
N/A
UGX 220,003.33
84.3%
67.4%
3.6%
0.0%
0.0%
13.3%
82
PDF
PDF
UGX 1,000,000
Generated
2015-02-01
6.0 months
N/A
UGX 210,745.21
84.8%
67.0%
3.7%
0.0%
0.0%
14.1%
81
-
PDF
UGX 350,000
Generated
2015-02-01
3.7 months
N/A
UGX 48,562.74
97.9%
68.0%
12.5%
0.0%
0.0%
17.4%
70
-
PDF
UGX 675,000
Generated
2015-02-01
5.5 months
N/A
UGX 129,281.92
94.0%
68.0%
8.9%
0.0%
0.0%
17.1%
73
-
PDF
UGX 1,800,000
Generated
2015-02-01
6.0 months
N/A
UGX 379,341.37
84.8%
67.0%
3.7%
0.0%
0.0%
14.1%
81
-
PDF
UGX 4,500,000
Generated
2015-02-01
8.0 months
N/A
UGX 1,208,120.55
84.2%
67.0%
3.0%
0.0%
0.0%
14.2%
82
-
PDF
UGX 6,000,000
Generated
2015-02-01
7.8 months
N/A
UGX 1,545,008.22
91.3%
68.0%
6.7%
0.0%
0.0%
16.6%
75
-
PDF
FINCA Village Group Loan Price Graphs
0 100 Pricing Transparency Index Regulated Inst. Not Regulated Inst. NBFI Institution Type Business Loan Purpose FINCA-UGA Institution UG-006-V03-P03 Product UG Country 2014 Year Range Number 3 Institution Data Version 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 Loan Size (all) 0% 20% 40% 60% 80% 100% Full APR (int fee ins tax dep) > 6,500 4,900 3,200 1,600 100 Number of Borrowers