Kungoma Financial Services Ltd - Personal loan - MFTransparency.org Truth In Lending Tables

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Institution

Kungoma Financial Services Ltd Permanent House, 1st floor room 145L, along Cairo RoadLusaka

Data approved: 2011-12-12

Data version: 1

Age of data: 164 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (ZMK)	ZMK 29,059,535
Portfolio (USD)	USD 5,615.37
Active Clients with Loans	13
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	80% - 100%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

The personal loan is available to everybody, also non-salaried workers.

Loan Purpose

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

Included Services

Credit education	x
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
Must be specific age group
Other	Reliable income or some kind of collateral
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	ZMK
Minimum loan size	ZMK 500,000
Maximum loan size	5,000,000

Loan Term and Grace Period

Shortest loan term	1.0 month
Longest loan term	12.0 months
Approx average	3.0 months

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	15.00%
Highest quoted nominal interest	15.00%
Interest rate period	Monthly
Interest Rate Calculation Method	Decl Bal
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Management fee
% of loan amount - min	0
% of loan amount - max	0
OR, Fixed amount - min	25,000
Fixed amount - max	25,000
Reason for variation	N/A
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Insurance
% 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

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

Personal loan samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	ZMK 600,000	ZMK 1,000,000	ZMK 1,300,000	ZMK 1,900,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2011-05-08	2011-05-05	2011-05-25	2011-05-18
Loan Term (Months)	1.0 month	1.0 month	1.0 month	1.0 month
Grace Period (Months)	0.0 months	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	235.1%	211.0%	202.9%	194.4%
Insurance Component	30.0%	29.0%	28.6%	28.3%
Tax Component	0.0%	0.0%	0.0%	0.0%
Deposit Component	0.0%	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	265.1%	240.0%	231.5%	222.7%
Transparency Index	68	75	78	81

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

Personal 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

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


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By Country

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