| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.financetrust.co.ug/ |
| Year established | 1984 |
| Head of Institution | Anne Nakawunde Mulindwa |
| Regions active | Central, Eastern, Northern, Western |
| # Branches | 30 |
| Total Portfolio (nat'l) | UGX 43,801,060,749 |
| Total Portfolio (USD) | USD 17,520,424.30 |
| Active clients with loans | 22,555 |
| Approximate % female clients | 40% - 60% |
| Approximate % urban clients | 20% - 40% |
| Network affiliations | World Savings Bank Initiative, WWB, AMFIU, African Rural & Agricultural Credit Association |
| Funders | Investisseur et Partnaire el la Developpment, Oikocredit, Uganda Womens Trust, Founder Members |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Loan - Group | UGX 100,000 - 4,000,000 | 3 - 24 | 60% - 80% | 20% - 40% | Business | Men, Have business | Credit Educ, Group Mtgs, Credit Ins | |||||||
| Business Loan - Individual | UGX 500,000 - 70,000,000 | 3 - 24 | 60% - 80% | 20% - 40% | Business | Women, Men, Have business, Specific age group, Age 18 and above,, Must have a savings account at Finance Trust | Credit Educ, Credit Ins | |||||||
| Personal Development Loan | UGX 500,000 - 70,000,000 | 3 - 24 | 60% - 80% | 20% - 40% | Any Purpose | Women, Men, Specific age group, Age 18 and above. Regular source of income,, Collateral must be titled land / comprehensively insured motor vehicle | Credit Educ, Credit Ins | |||||||
| Salary Loan | UGX 100,000 - 10,000,000 | 3 - 24 | 60% - 80% | 20% - 40% | Any Purpose | Women, Men, Salaried worker, Specific age group, Age 18 and above, Must open a savings salary account at Finance Trust | Credit Educ, Credit Ins | |||||||
| School Fees Loan | UGX 100,000 - 70,000,000 | 3 - 6 | 60% - 80% | 20% - 40% | Education | Women, Men, Have business, Salaried worker, Must have a clear identifiable & regular source of income | Credit Educ, Credit Ins |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Loan - Group | 30.00% annual, Flat | 3 Fees | 1 Ins | None | 10.00% upfront | 64.7% - 84.9% | 81.8% - 128.1% | 29 | ||||||||
| Business Loan - Individual | 25.00%-30.00% annual, Flat | 3 Fees | 1 Ins | None | 10.00% upfront | 56.3% - 65.9% | 68.6% - 81.8% | 33 | ||||||||
| Personal Development Loan | 25.00%-30.00% annual, Flat | 3 Fees | 1 Ins | None | N/A | 51.8% - 61.4% | 53.9% - 63.6% | 41 | ||||||||
| Salary Loan | 27.00% annual, Flat | 3 Fees | 1 Ins | None | N/A | 50.8% - 73.6% | 52.5% - 77.4% | 45 | ||||||||
| School Fees Loan | 36.00% annual, Flat | 3 Fees | 1 Ins | None | 10.00% upfront | 67% - 87.6% | 82.6% - 109.3% | 38 |
| Outstanding portfolio (INR) | INR 600,000 |
| Portfolio (USD) | USD 11,320.75 |
| Active Clients with Loans | 53 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 60% - 80% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | x |
| Other |
| Any purpose | |
| Income generation | |
| Mortgage/housing | x |
| Consumer loan | |
| Agriculture | |
| Education | |
| 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 | |
| Women | x |
| Must run a business | |
| Must own a home or land | x |
| Must be a salaried worker | |
| Must be specific age group | |
| Household income <60,000 INR | |
| Household income <120,000 INR | |
| Must live in rural area | |
| Must lives in urban area | |
| Other | |
| Other (2) |
| # Regions for this institution | 2 |
| # Regions for this product | 2 |
| Regions Active | Madhya Pradesh, Uttar Pradesh |
| Currency | INR |
| Minimum loan size | INR 5,000 |
| Maximum loan size | 20,000 |
| Shortest loan term | 12.0 months |
| Longest loan term | 24.0 months |
| Approx average | 18.0 months |
| Grace period usage | 0 |
| Average grace period | 0 |
| 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 |
| Lowest quoted nominal interest | 1.50% |
| Highest quoted nominal interest | 1.50% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Ins 1 | Ins 2 | ||
|---|---|---|---|
| Description | Insurance | Insurance | |
| % of loan amount - min | 0 | 0 | |
| % of loan amount - max | 0 | 0 | |
| OR, Fixed amount - min | 40 | 40 | |
| Fixed amount - max | 200 | 200 | |
| Reason for variation | N/A | N/A | |
| Appears on Repayment Sched? | No | No |
| Required for | Some |
| Criteria | Security deposit is not applicable for the loan upto Rs. 5000. |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? |
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | 3.50% |
| Maximum interest rate paid | 3.50% |
| Interest payment frequency | End Term |
| Are taxes charged on this product? | No |
| Sample 1 | |
|---|---|
| Loan Amount | INR 15,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known |
| Disbursement Date | 2010-05-07 |
| Loan Term (Months) | 18.0 months |
| Grace Period (Months) | 0 |
| Total Cost of Credit | Not Known |
| True Price by Comp | |
| Interest and Fee Component | 33.9% |
| Insurance Component | 1.4% |
| Tax Component | 0 |
| Deposit Component | 6.6% |
| Full APR (int fee ins tax dep) | 41.9% |
| MFIN MFI Earning (Annualised) | 33.9% |
| MFIN Cost to Borrower (Annualised) | 41.9% |
| Transparency Index | 43 |
| MFIN Transparency Index | N/A |
| Original Repayment Schedule | |
| MFT Pricing Calculation |
| Key Statistics | |
|---|---|
| # Samples: | |
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| # Borrowers | |
| Loan Portfolio (USD) | |
| % Products using declining balance | |
| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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