2. Spandana
Please note that the information you are viewing is 139 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. First Finance
Please note that the information you are viewing is 139 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Spandana Sphoorty Financial Limited Plot No 79, Care Crystal,Vinayak Nagar, GachibowliHyderabad, Andhra Pradesh500032
Data approved: 2013-05-02
Data version: 3
Age of data: 139 months
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Institution

First Finance PLC # A15-17, Stree 271,Khan Chamkarmorn, Phnom Penh
Data approved: 2013-03-28
Data version: 3
Age of data: 139 months
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Product

Pragathi Product 3 of 3 « Prev | Next »

Product

Housing Loan Product 1 of 1 « Prev | Next »

Product Summary

Number borrowers355,279
Loan Amount (range)INR 15,000 - 50,000
Loan Term (range)18 - 24
Other Services (text summary)Credit Educ, Group Mtgs, Group Solidarity Training
Annual Interest & Method26.0% annual, Decl Bal
Fees0.98% upfront
Insurance1.00%-1.50% upfront
Tax12.36% fees
Comp DepN/A
Range of pricing 
Interest Price Component24.8% - 26.1%
Fee Component2.0% - 4.1%
Insurance Component2.1% - 2.2%
Tax Component Range0.3% - 0.5%
Full APR (int fee ins tax dep)30.5%
Transparency Index (min/max)78 - 85
Transparency Index (average)85

Product Summary

564
USD 1,000 - 37,500
12 - 180
18.0%-24.0% annual, Decl Bal
30.00-150.00 upfront
50.00-100.00 ongoing
None
N/A
 
17.9% - 23.9%
0.4% - 2.3%
0 - 4.3%
0
22.0% - 30.5%
59 - 82
70

Product Details

Key Statistics
Outstanding portfolio (INR)INR 5,485,513,129
Portfolio (USD)USD 103,500,247.70
Active Clients with Loans355,279
Approximate % Female Clients80% - 100%
Approximate % Urban Clients0% - 20%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Pragathi stands for Progress. This product is offered to those customers who are slightly higher economic well-being or have stable monthly cash-flows.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurance
Workplace visits
Business training
Other training
OtherGroup Solidarity Training
Other (2)
No other services
Eligibility
Men
Womenx
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age group
Household income <60,000 INR
Household income <120,000 INR
Must live in rural area
Must lives in urban area
OtherSelf-employed.
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution10
# Regions for this product6
Regions ActiveAndhra Pradesh, Chhattisgarh, Karnataka, Maharashtra, Orissa, Tamil Nadu

Product Details

Key Statistics
Outstanding portfolio (USD)USD 5,819,783
Portfolio (USD)USD 5,819,783
Active Clients with Loans564
Approximate % Female Clients20% - 40%
Approximate % Urban Clients80% - 100%
Methodology
Individualx
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/housingx
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 servicesx
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution4
# Regions for this product4
Regions ActiveBattambang, Kandal, Phnom PenhSiem Reap

Loan Conditions

Loan Amount
CurrencyINR
Minimum loan sizeINR 15,000
Maximum loan size50,000
Distribution at Disbursement (Est.)
Loans less than INR 5,0000
INR 5,000-15,0000
INR 15,000-25,00020%
INR 25,000-35,00030%
INR 35,000-45,00030%
Greater than INR 45,00030%
Loan Term and Grace Period
Shortest loan term18.0 months
Longest loan term24.0 months
Approx average18.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months40%
Longer than 18 months60%
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyUSD
Minimum loan sizeUSD 1,000
Maximum loan size37,500
Loan Term and Grace Period
Shortest loan term12.0 months
Longest loan term180.0 months
Approx average120.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months10%
Longer than 18 months90%
Grace Period
Grace period usage0
Average grace period3.0 months
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest26.00%
Highest quoted nominal interest26.00%
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min0.98%
% of loan amount - max0.98%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Premium
% of loan amount - min1.00%
% of loan amount - max1.50%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation1% for 1 year loan & 1.5% for > 1year loan.
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?Yes
Percentage of fees12.4%
All or some fees taxedSome

Pricing Information

Interest
Lowest quoted nominal interest1.50%
Highest quoted nominal interest2.00%
Reason(s) why interest rate variesLoan Size, Loan Purpose
Interest rate periodMonthly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termNo
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min30
Fixed amount - max150
Reason for variationDepends 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
DescriptionAnnual Fire & Personal Accident Fee
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min50
Fixed amount - max100
Reason for variationDepends on condition of house
Appears on Repayment Sched?Yes
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/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

Pragathi samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountINR 20,000INR 20,000INR 20,000INR 20,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-03-202013-03-202013-03-202013-03-20
Loan Term (Months)12.0 months12.0 months12.0 months12.0 months
Grace Period (Months)-0.4 months-0.4 months-0.4 months-0.4 months
Total Cost of CreditINR 3,173.94INR 3,173.94INR 3,173.94INR 3,173.94
True Price by Comp       
Interest price component26.1%26.1%26.1%26.1%
Fee Component2.0%2.0%2.0%2.0%
Insurance Component2.1%2.1%2.1%2.1%
Tax Component0.3%0.3%0.3%0.3%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)30.5%30.5%30.5%30.5%
MFIN MFI Earning (Annualised)28.1%28.1%28.1%28.1%
MFIN Cost to Borrower (Annualised)30.5%30.5%30.5%30.5%
Transparency Index85858585
MFIN Transparency Index100100100100
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula

Full Pricing Data

Housing Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountUSD 1,000USD 1,997.21USD 2,500USD 4,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2012-08-122012-10-262012-11-102012-06-05
Loan Term (Months)35.0 months114.0 months115.0 months50.0 months
Grace Period (Months)-0.3 months-0.2 months0.0 months0.2 months
Total Cost of CreditUSD 498.85USD 3,547.31USD 3,844.22USD 2,033.38
True Price by Comp       
Interest price component23.9%23.8%23.8%17.9%
Fee Component2.3%0.5%0.4%2.1%
Insurance Component4.3%3.1%0.0%2.0%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)30.5%27.4%24.2%22.0%
Transparency Index59667582
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
Pragathi Price Graphs


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Housing Loan Price Graphs


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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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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