2. Hofokam
Please note that the information you are viewing is 146 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. FMB
Please note that the information you are viewing is 160 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Hofokam Ltd Head OfficeFort Portal, Western UgandaPO Box 228
Data approved: 2012-07-24
Data version: 2
Age of data: 146 months
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Institution

First Macro Bank B. Morcilla cor. P. Herrera Sts.Pateros, Metro Manila1621
Data approved: 2011-11-15
Data version: 1
Age of data: 160 months

Product

School Fees Loan Product 4 of 6 « Prev | Next »

Product

Sikap Product 1 of 2 « Prev | Next »

Product Summary

Number borrowers140
Loan Amount (range)UGX 700,000 - 1,500,000
Loan Term (range)6 - 8
Other Services (text summary)Credit Educ, Group Mtgs, Tech Asst Visits, Business Training
Annual Interest & Method33.60% annual, Flat
Fees2.00% upfront
Insurance20,000 upfront
TaxNone
Comp DepN/A
Range of pricing 
Interest Price Component27.7% - 58.0%
Fee Component1.5% - 9.9%
Insurance Component0.2% - 25.6%
Tax Component Range0
Full APR (int fee ins tax dep)66.1% - 76.2%
Transparency Index (min/max)36 - 86
Transparency Index (average)47

Product Summary

1,250
PHP 5,000 - 15,000
5.8
Credit Educ, Group Mtgs, Tech Asst Visits, Life insurance
30.0% annual, Flat
3.00% upfront
375.00 upfront
5.00% loan amt
5.0% upfront 20.00 ongoing
 
N/A
68.4% - 70.6% (Int+Fee)
1.5% - 35.2%
5.5% - 7.7%
113.4% - 134.3%
22 - 26
24

Product Details

Key Statistics
Outstanding portfolio (UGX)UGX 322,443,570
Portfolio (USD)USD 127,700.42
Active Clients with Loans140
Approximate % Female Clients20% - 40%
Approximate % Urban Clients20% - 40%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
HOFOKAM Clients with short term liquidity constraints towards meeting school fees obligations
Loan Purpose
Any purpose
Income generation
Mortgage/housing
Consumer loan
Agriculture
Educationx
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurance
Workplace visitsx
Business trainingx
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution1
# Regions for this product1
Regions ActiveWestern

Product Details

Key Statistics
Outstanding portfolio (PHP)PHP 4,700,000
Portfolio (USD)USD 112,440.19
Active Clients with Loans1,250
Approximate % Female Clients80% - 100%
Approximate % Urban Clients40% - 60%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Group loan for microenterprises
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurance
Workplace visitsx
Business training
Other training
OtherLife insurance
Other (2)
No other services
Eligibility
Men
Womenx
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age group
OtherMust have net income of > P2000 per month
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institutionN/A
# Regions for this productN/A
Regions Active

Loan Conditions

Loan Amount
CurrencyUGX
Minimum loan sizeUGX 700,000
Maximum loan size1,500,000
Distribution at Disbursement (Est.)
Loans less than UGX 1,000,00050%
UGX 1,000,000-5,000,00050%
UGX 5,000,000-7,500,0000
UGX 7,500,000-10,000,0000
UGX 10,000,000-13,000,0000
Greater than UGX 13,000,0000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term8.0 months
Approx average7.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months100%
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeksx
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyPHP
Minimum loan sizePHP 5,000
Maximum loan size15,000
Loan Term and Grace Period
Shortest loan term5.8 months
Longest loan term5.8 months
Approx average5.8 months
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weeklyx
Every 2 weeks
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest2.80%
Highest quoted nominal interest2.80%
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionApplication Fee
% of loan amount - min2.00%
% of loan amount - max2.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionLife Insurance
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min20,000
Fixed amount - max20,000
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest2.50%
Highest quoted nominal interest2.50%
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionService Charge
% of loan amount - min3.00%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation
Appears on Repayment Sched?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionLife Insurance
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min375
Fixed amount - max375
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?
Do borrowers control deposit in their group?
Deposit BEFORE or AT Disbursement
% loan amount deposited5.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount depositedPHP 20
Conditions on access to depositWhen Leaving
Interest Paid on Deposit
Minimum interest rate paid1.00%
Maximum interest rate paid1.00%
Interest payment frequencyQuarterly
Taxes
Are taxes charged on this product?Yes
Percentage of fees0
All or some fees taxedN/A
Additional Comments
Tax (GRT) = 5% of accrued interest fee and fees (except insurance). Tax (Doc Stamp) = P1 for every P2 per annum

Full Pricing Data

School Fees Loan samples
Sample 1Sample 2Sample 3
Loan AmountUGX 800,000UGX 700,000UGX 1,500,000
Loan Cycle (1, 2, 3, etc)877
Disbursement Date2012-09-122012-09-142011-12-13
Loan Term (Months)6.0 months4.1 months6.0 months
Grace Period (Months)1.0 month1.0 month1.0 month
Total Cost of CreditUGX 170,400UGX 112,400UGX 302,000
True Price by Comp     
Interest price component54.4%51.6%54.0%
Fee Component7.2%9.9%7.2%
Insurance Component9.3%14.7%4.9%
Tax Component0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%
Full APR (int fee ins tax dep)70.9%76.2%66.1%
Transparency Index474451
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF

Full Pricing Data

Sikap samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountPHP 5,000PHP 6,000PHP 7,000PHP 8,000
Loan Cycle (1, 2, 3, etc)2317Not Known
Disbursement Date2011-05-202011-05-202011-05-202011-05-20
Loan Term (Months)5.8 months5.8 months5.8 months5.8 months
Grace Period (Months)0.0 months0.0 months0.0 months5.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot Known
True Price by Comp       
Interest and Fee Component70.6%68.4%70.6%70.6%
Insurance Component35.2%28.8%24.7%21.5%
Tax Component5.8%5.5%5.6%5.5%
Deposit Component22.7%18.9%17.3%15.8%
Full APR (int fee ins tax dep)134.3%121.6%118.2%113.4%
Transparency Index22252526
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
School Fees Loan Price Graphs


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Key Statistics
# Samples:
# Products
# Institutions
# Countries
# Borrowers
Loan Portfolio (USD)
% Products using declining balance
% Products with one or more fee
% Products with one or more insurances
% Products with compulsory deposits
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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