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140 months old and may not represent the prices currently charged.
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Institution
Data approved: 2013-03-28
Data version: 3
Age of data: 140 months
Key Statistics
| Outstanding portfolio (USD) | USD 5,819,783 |
| Portfolio (USD) | USD 5,819,783 |
| Active Clients with Loans | 564 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 80% - 100% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
First Finance provides housing loan including three sub-categories: (1) Home Loan, (2) Home Improvement Loan, and (3) Home Equipment Loan.
Loan Purpose
| Any purpose | |
| Income generation | |
| Mortgage/housing | x |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | x |
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 | |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 4 |
| # Regions for this product | 4 |
| Regions Active | Battambang, Kandal, Phnom PenhSiem Reap |
Loan Conditions
Loan Amount
| Currency | USD |
| Minimum loan size | USD 1,000 |
| Maximum loan size | 37,500 |
Loan Term and Grace Period
| Shortest loan term | 12.0 months |
| Longest loan term | 180.0 months |
| Approx average | 120.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 10% |
| Longer than 18 months | 90% |
Grace Period
| Grace period usage | 0 |
| Average grace period | 3.0 months |
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 | 1.50% |
| Highest quoted nominal interest | 2.00% |
| Reason(s) why interest rate varies | Loan Size, Loan Purpose |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | No |
Upfront Fees
| Fee 1 |
|---|
| Description | Processing Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 30 |
| Fixed amount - max | 150 |
| Reason for variation | Depends on loan purpose. Home Improvement = $30 min-1.5% max. Home Loan = $150 min-1.5% max |
| Appears on Repayment Sched? | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
| Ins 1 |
|---|
| Description | Annual Fire & Personal Accident Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 50 |
| Fixed amount - max | 100 |
| Reason for variation | Depends on condition of house |
| Appears on Repayment Sched? | Yes |
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 |
Additional Comments
For the clients who chose to pay the insurance fee through First Finance. The MFI pays at the beginning of the year and the clients repays the insurance fee in the monthly installments. For the clients who agreed to pay the insurance fee directly to the insurance company at beginning of the year, the repayment schedule shows no apparent insurance fee.
Full Pricing Data
Housing Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | USD 1,000 | | USD 1,997.21 | | USD 2,500 | | USD 4,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2012-08-12 | | 2012-10-26 | | 2012-11-10 | | 2012-06-05 |
| Loan Term (Months) | 35.0 months | | 114.0 months | | 115.0 months | | 50.0 months |
| Grace Period (Months) | -0.3 months | | -0.2 months | | 0.0 months | | 0.2 months |
| Total Cost of Credit | USD 498.85 | | USD 3,547.31 | | USD 3,844.22 | | USD 2,033.38 |
| True Price by Comp | | | | | | | |
| Interest price component | 23.9% | | 23.8% | | 23.8% | | 17.9% |
| Fee Component | 2.3% | | 0.5% | | 0.4% | | 2.1% |
| Insurance Component | 4.3% | | 3.1% | | 0.0% | | 2.0% |
| 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) | 30.5% | | 27.4% | | 24.2% | | 22.0% |
| Transparency Index | 59 | | 66 | | 75 | | 82 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
Housing Loan Price Graphs
