Our Products

DMF Loan Products and Services

Destiny Microfinance offers a wide rang of products and services to it’s clients at the best rates in the sector of lending

Group size – No of people in a group 10- 30
Initial loan amount – Maximum individual first loan Ushs 100,000. The ceiling for group guaranteed loans will be Ushs2, 000,000= per individual hence all members intending to take above that amount will graduate into individual loan product.
Loan cycle/Term – Period in which to repay loan: 4-6 months for 1^st to 3^rd cycles and from 4^th cycle can go up to 12 months.
Pre credit training -Time taken by group to undergo training before loan access: 1-3 weeks
Meeting Frequency – When groups meet to repay: Weekly/bi monthly or bi-weekly/monthly.
When/how principal paid – Repayment made to DESTINY bank A/c on determined regular basis – Weekly, bi-monthly or bi-weekly and monthly
Grace period – Period in which the loan is not to be paid – 1-2 weeks. Grace period can only be offered to groups after the 3^rd cycle and on discretion of the Branch Manager depending on the previous performance. This facility will only be applicable to clients whose payment frequency is on a weekly basis. A grace period does not mean that the loan period is to be extended but rather that the repayment is within the remaining period.
When/how other interest fees paid – Interest, administration payment made in group and banked on DESTINY A/c – Collected upfront or spread through the cycle and paid weekly/monthly/bimonthly together with principal

Eligibility: the agricultural loans are targeted towards groups of farmers whose profile should include the following

Existing Group members but with no outstanding loan
New individual clients
Must be above 18 years
Must own at least 2 acres of land or written proof for renting land and be known and recommended by the community leaders
Client must have been engaged in agricultural production for at least 2 years.
Must have collateral to pledge
Must have alternative sources of income to supplement the agricultural production. These may be diversified agricultural activities or other business activities.