Hofokam Ltd - Salary Loan - MFTransparency.org Truth In Lending Tables

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Institution

Hofokam Ltd [email protected][email protected]Fort Portal, Western Uganda228

Data approved: 2011-06-29

Data version: 1

Age of data: - months

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Product

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Product Details

Key Statistics

Outstanding portfolio (UGX)	UGX 577,056,912
Portfolio (USD)	USD 262,299
Active Clients with Loans	573
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	20% - 40%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Loans advanced to employees guaranteed by letter of undertaking by employer\r

Loan Purpose

Any purpose
Income generation
Mortgage/housing	x
Consumer loan	x
Agriculture
Education	x
Other household finance
Other
Other (2)

Included Services

Credit education
Group meetings
Credit insurance
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
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	N/A
# Regions for this product	N/A
Regions Active

Loan Conditions

Loan Amount

Currency	UGX
Minimum loan size	UGX 250,000
Maximum loan size	10,000,000

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	12.0 months
Approx average	8.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	N/A
Between 4 and 6 months	N/A
Between 7 and 9 months	N/A
Between 10 and 12 months	N/A
Between 13 and 18 months	N/A
Longer than 18 months	N/A

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	2.00%
Highest quoted nominal interest	2.00%
Interest rate period	Monthly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	N/A
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Application Fees
% of loan amount - min	2.00%
% of loan amount - max	2.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Life Insurance
% of loan amount - min	1.00%
% of loan amount - max	1.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation
Appears on Repayment Sched?

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

Are taxes charged on this product?

Full Pricing Data

Salary Loan samples

	Sample 1	Sample 2	Sample 3
Loan Amount	UGX 300,000	UGX 3,000,000	UGX 6,200,000
Loan Cycle (1, 2, 3, etc)	2	3	1
Disbursement Date	2012-07-04	2012-07-10	2012-07-26
Loan Term (Months)	8.0 months	24.0 months	24.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	46.5%	43.1%	43.0%
Insurance Component	3.0%	1.2%	1.2%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	49.5%	44.3%	44.2%
Transparency Index	48	54	54

Original Repayment Schedule	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF

Salary Loan Price Graphs

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
Adhikar	35,300	2,674,000	1	138
AMPL	0	0	0	138
Arman	41,500	529,107,000	1	138
Arohan	43,500	8,091,000	2	138
ASA INDIA	164,000	15,380,000	1	138
Asirvad	113,500	19,328,000	1	138
Asmitha	1,114,800	217,867,000	1	138
Bandhan	4,048,600	674,564,000	5	138
Belstar	123,000	23,945,000	2	117
BSFL	275,200	31,590,000	3	138
Chaitanya	20,700	3,748,000	3	138
Disha Microfin	69,000	14,332,000	2	138
Equitas	1,220,000	186,415,000	4	138
ESAF	354,200	43,500,000	5	138
FFSL	150,600	35,719,000	2	138
Fusion	66,800	9,820,000	2	138
Grama Vidiyal	738,200	102,101,000	1	138
Grameen Koota	586,600	83,555,000	15	140
Janalakshmi	506,000	119,077,000	2	138
L & T Finance	399,800	37,199,000	1	138
MFL	331,800	49,083,000	1	138
MMFL	175,000	23,752,000	2	138
Mpower	13,600	2,263,000	2	138
Sahayata	0	0	0	138
Saija	24,700	4,682,000	2	138
Samasta	45,500	4,809,000	2	138
Satin	405,600	90,174,000	2	138
SCCI	115,600	15,910,000	2	138
Share	2,195,400	376,727,000	1	138
SKS	3,409,000	355,029,000	2	138
SMILE	360,200	56,927,000	1	138
SNFL	9,400	1,779,000	1	138
Sonata Finance	158,200	22,724,000	3	140
Spandana	533,400	147,240,000	2	138
Suryoday	78,600	14,713,000	3	138
SVCL	118,200	18,886,000	1	138
Swadhaar	92,800	17,166,000	3	138
Trident	68,700	8,852,000	1	138
Ujjivan	913,300	160,848,000	5	138
Utkarsh	168,600	25,915,000	3	138
VFS	175,400	19,264,000	2	138
Asomi	50,300	4,743,000	2	171
AES India	3,600	286,000	1	171
Arth	2,900	611,000	2	171
Asomi	50,300	4,743,000	2	171
Barasat GS	1,100	99,508.02	1	171
BJS	6,000	468,000	1	171
Cashpor	417,000	50,452,000	1	170
Credible	10,000	1,669,540.36	2	171
DIBAKAR	1,800	145,000	1	170
GOF	65,200	5,388,000	4	170
Hope	62,600	4,407,000	1	168
Jaago	2,700	237,000	1	169
LOK	4,900	573,000	1	170
Nano	25,600	3,660,000	2	171
NBSAAVS	28,100	2,821,000	1	168
Nirantara	8,200	917,000	2	170
Parama	7,100	482,000	1	170
Pragathi	26,200	4,579,000	6	170
PWMACS	36,500	5,946,000	1	170
Saadhana	90,900	12,046,000	2	170
Sambhav	1,500	183,000	3	170
Seba Rahara	6,700	468,000	1	170
SU	61,100	5,498,000	1	170
Swayanshree	7,900	918,000	2	170
Vikas Samiti	1,600	168,000	1	170
Vistaar	4,300	1,157,000	2	168
We The People	1,100	244,000	2	170
WEMCS	1,100	85,000	1	170
Yukti	1,100	99,000	2	170

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

	X Axis
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N (# of Samples)
Total Borrrowers of Samples


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