What is Twiga Bancorp’s IPF product?
IPF stands for Insurance Premium Financing. Twiga Bancorp’s IPF product provides for
individuals and companies seeking or on insurance cover with the option to pay at their
insurance premiums in monthly installments up to a maximum of 10 months an
affordable interest rate.
What are the benefits provided by IPF to the insured party?
1.Assists the insured party, manage their
cash-flow better by providing them with
the option to pay insurance premiums monthly
as opposed to hefty yearly lump-sum amounts payments.
2.Due to the reduced payment burden, the insured
party can increase policy amount or take
additional insurance cover
i.e. increased protection of the insured party.
3.General improvement in quality of life through
increased security for business and personal
property.

What are the features of Twiga Bancorp’s IPF product?
1.The product is suitable for both retail and corporate entities.
2.The product only covers insurance policies issued by reputable insurance companies.
List of acceptable insurance companies are available at Twiga Bancorp.
3.To qualify, the insured parties are required to provide a deposit of a quarter or 15%
of the premium amount payable as collateral.
4.Twiga will open for each IPF customer an account through which the IPF facility
will be serviced.
5.Twiga Bancorp will then provide loans to the insured parties and pay their insurance
premium obligations in lump sum amounts to the insurance companies.
6.The insured party will service the loan on monthly basis over a period which will
range from 3 to 10 months depending on the time period agreed with the bank.
7.In the event that an insured party defaults, Twiga Bancorp will recover the interest
and principal amounts due by liquidating the collateral and by canceling the policy and
collecting from the insurance company, the unutilized portion of the insurance premium.
Interest and Charges
1.Flat rate of Tsh 20,000/= processing fees regardless of the loan amount.
2.Interest rate on IPF Loan depends on the repayment period, as detail below
3.Maximum repayment period will be 10 months while minimum period is 3 months

3 Months	5%
6 Months	8%
10 Months	10%

4.Twiga Bancorp will also charge a processing fee of Tsh, 20,000.00 for every loan
processed regardless of the amount of loan taken.