Finamerica - Consumo Libre Destino - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 166 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Finamerica Calle 16 # 6-66 piso 4Bogotá, Cundinamarca

Data approved: 2011-03-15

Data version: 1

Age of data: 166 months

Download Data

Analyze Data

Product

Consumo Libre Destino Product 1 of 7 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (COP)	COP 13,559,302,734
Portfolio (USD)	USD 7,450,166.34
Active Clients with Loans	2,505
Approximate % Female Clients	40% - 60%
Approximate % Urban Clients	80% - 100%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Crédito para cualquier uso o destino que supla las demas necesidades complementarioas de crèdito del microempresario, al igual que para personas asalarias

Loan Purpose

Any purpose	x
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education
Group meetings
Credit insurance
Workplace visits
Business training
Other training	x
Other	Fidelizacion
Other (2)
No other services

Eligibility

Men	x
Women	x
Must run a business	x
Must own a home or land
Must be a salaried worker	x
Must be specific age group
Other
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	N/A
# Regions for this product	N/A
Regions Active

Loan Conditions

Loan Amount

Currency	COP
Minimum loan size	COP 300,000
Maximum loan size	65,000,000

Loan Term and Grace Period

Shortest loan term	12.0 months
Longest loan term	59.0 months
Approx average	0

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly	x
Every 2 weeks	x
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	14.40%
Highest quoted nominal interest	28.66%
Reason(s) why interest rate varies	Time as Client, Collateral, Loan Purpose
Interest rate period	Yearly
Interest Rate Calculation Method	Decl Bal
Subsidized by funder request?
Is rate fixed for entire loan term	No

Upfront Fees

	Fee 1	Fee 2
Description	Comision Centrales de Riesgo	Comision por Estudio de Credito (cobrado anualmente). No todos los prestamos tienen esta comisio.
% of loan amount - min	0	0
% of loan amount - max	0	0
OR, Fixed amount - min	3,500	18,000
Fixed amount - max	3,500	58,000
Reason for variation	Solamente para pocos prestamos de este producto	N/A
Appears on Repayment Sched?	Yes	Yes

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Seguro de Vida (cobrado anualmente)
% of loan amount - min	0.34%
% of loan amount - max	0.34%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	Yes

Ongoing Insurance Fees

This product has no ongoing insurance fees

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

Are taxes charged on this product?

Full Pricing Data

Consumo Libre Destino samples

	Sample 1	Sample 2	Sample 3
Loan Amount	COP 2,200,000	COP 3,400,000	COP 7,000,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2011-04-25	2011-04-13	2011-04-27
Loan Term (Months)	18.0 months	24.0 months	36.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	24.8%	24.3%	23.9%
Insurance Component	0.7%	0.7%	0.8%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	25.5%	25.0%	24.7%
Transparency Index	57	58	58

Original Repayment Schedule	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF

Consumo Libre Destino Price Graphs

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
AccessBank	82,400	199,224,000	4	176
Bank of Baku	59,500	123,214,000	4	176
DemirBank	14,100	25,597,000	2	120
FINCA	154,600	233,358,000	12	120
Parabank	10,300	37,235,000	3	176
Turanbank	2,600	326,000	5	176
Unibank	800	64,000	1	176
Viator	19,500	20,468,000	8	119

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

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
	Greater than:
	Less or equal to:
	From 0 to
	to
	to
	to ∞