2. Finance Trust
Please note that the information you are viewing is 145 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Sonata Finance
Please note that the information you are viewing is 142 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Uganda Finance Trust Plot 121&115, Block 6KatweKampala, Central UgandaPO Box 6972
Data approved: 2012-10-16
Data version: 2
Age of data: 145 months
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Institution

Sonata Finance Private Limited 125B/6B Pt. Madan Mohan Malviya RoadGorge TownAllahabad, Uttar PradeshPO Box 211002
Data approved: 2013-01-09
Data version: 3
Age of data: 142 months
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Product

Personal Development Loan Product 3 of 5 « Prev | Next »

Product

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Product Summary

Number borrowers104
Loan Amount (range)UGX 500,000 - 70,000,000
Loan Term (range)3 - 24
Other Services (text summary)Credit Educ, Credit Ins
Annual Interest & Method25.00%-30.00% annual, Flat
Fees3 fees
Insurance1.00%-1.50% upfront
TaxNone
Comp DepN/A
Range of pricing 
Interest Price Component40.5% - 57.5%
Fee Component7.3% - 32.1%
Insurance Component1.7% - 5.3%
Tax Component Range0
Full APR (int fee ins tax dep)53.9% - 63.6%
Transparency Index (min/max)23 - 51
Transparency Index (average)41

Product Summary

152,607
INR 7,200 - 19,650
12.2 - 23.33
Credit Educ, Group Mtgs, Credit Ins
26.0% annual, Decl Bal
70.00-240.00 upfront
100.00-500.00 upfront
None
N/A
 
23.0% - 26.2%
0.9% - 4.0%
0 - 2.0%
0 - 0.5%
27.5% - 28.8%
75 - 95
92

Product Details

Key Statistics
Outstanding portfolio (UGX)UGX 964,651,944
Portfolio (USD)USD 385,861
Active Clients with Loans104
Approximate % Female Clients60% - 80%
Approximate % Urban Clients20% - 40%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
An affordable loan facility to ease ones cash flow for personal development needs. Helps to grow ones asset base and increase ones income sources. Longer payback period and payable in monthly manageable installments
Loan Purpose
Any purposex
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age groupx
OtherAge 18 and above. Regular source of income,
Other (2)Collateral must be titled land / comprehensively insured motor vehicle
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution4
# Regions for this product4
Regions ActiveCentral, Eastern, Northern, Western

Product Details

Key Statistics
Outstanding portfolio (INR)INR 1,119,092,232
Portfolio (USD)USD 21,114,947.77
Active Clients with Loans152,607
Approximate % Female Clients100%
Approximate % Urban Clients0% - 20%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
IGL is granted for 56 & 106 weeks with Grace period of 1 week which repaid in equal weekly installment. Center meetings are held in local community where all transactions take place. Sonata has feature of pre-settlement without any penalty.
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 insurancex
Workplace visits
Business training
Other training
Other
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
Household income <60,000 INRx
Household income <120,000 INRx
Must live in rural area
Must lives in urban area
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution2
# Regions for this product4
Regions ActiveHaryana, Madhya Pradesh, Uttar Pradesh, Uttarakhand

Loan Conditions

Loan Amount
CurrencyUGX
Minimum loan sizeUGX 500,000
Maximum loan size70,000,000
Distribution at Disbursement (Est.)
Loans less than UGX 1,000,00010%
UGX 1,000,000-5,000,00010%
UGX 5,000,000-7,500,00010%
UGX 7,500,000-10,000,00010%
UGX 10,000,000-13,000,00010%
Greater than UGX 13,000,00010%
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term24.0 months
Approx average12.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months5%
Between 10 and 12 months30%
Between 13 and 18 months5%
Longer than 18 months60%
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterlyx
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyINR
Minimum loan sizeINR 7,200
Maximum loan size19,650
Distribution at Disbursement (Est.)
Loans less than INR 5,0000
INR 5,000-15,00090%
INR 15,000-25,00010%
INR 25,000-35,0000
INR 35,000-45,0000
Greater than INR 45,0000
Loan Term and Grace Period
Shortest loan term12.2 months
Longest loan term23.3 months
Approx averageDK
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months90%
Longer than 18 months10%
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 interest25.00%
Highest quoted nominal interest30.00%
Reason(s) why interest rate variesLoans <5M pay 30% pa flat. Loans between 5M -15M pay 28% flat. Loans >15M pay 30% pa declining.
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionLoan CommissionLoan Processing Fee
% of loan amount - min2.00%2.00%
% of loan amount - max2.00%2.00%
OR, Fixed amount - min00
Fixed amount - max00
Reason for variationn/an/a
Appears on Repayment Sched?NoNo
Ongoing Fees
Fee 1
DescriptionMonitoring Fee
% of loan amount - min0.20%
% of loan amount - max0
OR, Fixed amount - min0
Fixed amount - max5,000
Reason for variationCapped at 5000 UGX
Appears on Repayment Sched?Yes
Upfront Insurance Fees
Ins 1
DescriptionLoan Insurance
% of loan amount - min1.00%
% of loan amount - max1.50%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation1% < 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 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
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.

Pricing Information

Interest
Lowest quoted nominal interest26.00%
Highest quoted nominal interest26.00%
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min70
Fixed amount - max240
Reason for variationProcessing fee varies with the loan size
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Fee
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min100
Fixed amount - max500
Reason for variationInsurance premium amount varies with the loan size
Appears on Repayment Sched?Yes
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

Full Pricing Data

Personal Development Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountUGX 1,000,000UGX 3,000,000UGX 4,000,000UGX 6,000,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2012-03-232012-07-042012-06-142012-08-31
Loan Term (Months)11.0 months12.0 months12.0 months12.0 months
Grace Period (Months)1.3 months1.0 month1.0 month1.1 months
Total Cost of CreditUGX 320,000UGX 1,110,000UGX 1,460,000UGX 1,860,000
True Price by Comp       
Interest price component47.1%50.2%50.3%42.2%
Fee Component12.4%11.2%10.5%9.6%
Insurance Component2.3%2.2%2.1%2.1%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)61.8%63.6%62.9%53.9%
Transparency Index40394046
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF

Full Pricing Data

Income Generating Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountINR 9,600INR 14,400INR 20,400INR 24,500
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-04-172013-04-172013-04-302013-04-23
Loan Term (Months)13.0 months13.0 months25.0 months25.0 months
Grace Period (Months)0.2 months0.2 months0.2 months0.2 months
Total Cost of CreditINR 1,589.99INR 2,374.59INR 6,249.98INR 7,489.98
True Price by Comp       
Interest price component25.0%25.0%25.4%25.3%
Fee Component1.6%1.6%0.9%0.9%
Insurance Component2.0%2.0%1.1%1.1%
Tax Component0.2%0.0%0.1%0.2%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)28.8%28.6%27.5%27.5%
MFIN MFI Earning (Annualised)26.6%26.6%26.3%26.2%
MFIN Cost to Borrower (Annualised)28.8%28.6%27.5%27.5%
Transparency Index90919595
MFIN Transparency Index100100100100
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula
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Key Statistics
# Samples:
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# 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
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Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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