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Institution
Data approved: 2013-03-28
Data version: 3
Age of data: 143 months
Description
First Finance provides housing loan including three sub-categories: (1) Home Loan, (2) Home Improvement Loan, and (3) Home Equipment Loan.
Any purpose Income generation Mortgage/housing x Consumer loan Agriculture Education Other household finance Other Other (2)
Credit education Group meetings Credit insurance Workplace visits Business training Other training Other Other (2) No other services x
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
Currency USD Minimum loan size USD 1,000 Maximum loan size 37,500
Shortest loan term 12.0 months Longest loan term 180.0 months Approx average 120.0 months
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%
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 fees Upfront Insurance Fees This product has no upfront insurance fees Ongoing 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
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 sample s
Sample 1Sample 2Sample 3Sample 4Loan 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
0 100 Pricing Transparency Index Regulated Inst. Not Regulated Inst. NBFI Institution Type Housing Loan Purpose First Finance Institution KH-007-V03-P01 Product KH Country 2013 Year Range Number 3 Institution Data Version 0 1,000 2,000 3,000 4,000 Loan Size (all) 0% 10% 20% 30% Full APR (int fee ins tax dep) > 500 200 20 Number of Borrowers
