Institution

Data approved: 2013-07-16
Data version: 1
Age of data: 127 months

Institution

Hofokam Ltd Head OfficeFort Portal, Western UgandaPO Box 228
Data approved: 2012-07-24
Data version: 2
Age of data: 136 months

Product

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Product

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

Product Summary

Number borrowers2,439
Loan Amount (range)TZS 3,000,000 - 35,000,000
Loan Term (range)6 - 24
Other Services (text summary)Group Mtgs, Credit Ins
Annual Interest & Method22.0%-24.0% annual, Flat
Fees1.00% upfront
Insurance1.35% upfront
TaxNone
Comp Dep25.0% upfront 13,000.00 ongoing
Range of pricing 
Interest Price Component35.8% - 52.8%
Fee Component2.0% - 6.7%
Insurance Component0 - 5.1%
Tax Component Range0
Full APR (int fee ins tax dep)77.9% - 80.5%
Transparency Index (min/max)21 - 91
Transparency Index (average)27

Product Summary

140
UGX 700,000 - 1,500,000
6 - 8
Credit Educ, Group Mtgs, Tech Asst Visits, Business Training
33.60% annual, Flat
2.00% upfront
20,000 upfront
None
N/A
 
27.7% - 58.0%
1.5% - 9.9%
0.2% - 25.6%
0
66.1% - 76.2%
36 - 86
47

Product Details

Key Statistics
Outstanding portfolio (TZS)TZS 8,761,921,729
Portfolio (USD)USD 5,510,642.60
Active Clients with Loans2,439
Approximate % Female Clients60% - 80%
Approximate % Urban Clients80% - 100%
Methodology
Individualx
Solidarity groupx
Village banking
Self help group
Other
Description
Premium Goupr produc is designed to provide loans to a smaller number of members in a group ranging from 3-5 clients. The client provide some form of collectoral.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetingsx
Credit insurancex
Workplace visits
Business training
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 institution20
# Regions for this product26
Regions ActiveArusha, Dar es Salaam, Dodoma, Iringa, Kagera, Kigoma, Kilimanjaro, Lindi, Manyara, MaraMbeya, Morogoro, Mtwara, Mwanza, Pemba North, Pemba South, Pwani, Rukwa, Ruvuma, ShinyangaSingida, Tabora, Tanga, Zanzibar Central/South, Zanzibar North, Zanzibar Urban/West

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

Loan Conditions

Loan Amount
CurrencyTZS
Minimum loan sizeTZS 3,000,000
Maximum loan size35,000,000
Distribution at Disbursement (Est.)
Loans less than TZS 350,0000
TZS 350,000-1,250,0000
TZS 1,250,000-2,000,0000
TZS 2,000,000-3,000,0000
TZS 3,000,000-4,000,00040%
Greater than TZS 4,000,00040%
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term24.0 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 months20%
Between 13 and 18 months30%
Longer than 18 months50%
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

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

Pricing Information

Interest
Lowest quoted nominal interest22.00%
Highest quoted nominal interest24.00%
Reason(s) why interest rate variesLoan Size, Loans < 5M pay 24% and loans > 5M pay 22%.
Interest rate periodYearly
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 - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionLoan Insurance
% of loan amount - min1.35%
% of loan amount - max1.35%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaInterest on deposit is paid every six months.
Is deposit indicated on the repayment schedule?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited25.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount depositedTZS 13,000
Conditions on access to depositWhen Leaving
Interest Paid on Deposit
Minimum interest rate paid3.00%
Maximum interest rate paid5.00%
Interest payment frequencyEnd Term
Taxes
Are taxes charged on this product?No

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

Full Pricing Data

Premium Group samples
Sample 1Sample 2Sample 3
Loan AmountTZS 3,000,000TZS 3,800,000TZS 5,000,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2013-01-222013-06-122013-07-26
Loan Term (Months)12.0 months12.0 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months
Total Cost of CreditTZS 790,500TZS 1,001,300TZS 1,317,500
True Price by Comp     
Interest price component41.3%41.0%41.0%
Fee Component2.0%2.0%2.0%
Insurance Component2.7%2.7%2.7%
Tax Component0.0%0.0%0.0%
Deposit Component34.5%33.2%32.2%
Full APR (int fee ins tax dep)80.5%78.9%77.9%
Transparency Index272828
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF

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
Premium Group Price Graphs


School Fees Loan Price Graphs


Caps / Zoom options
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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