The First MicroFinanceBank Ltd. - Individual Loan Against Cash/Near Cash - MFTransparency.org Truth In Lending Tables

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Institution

The First MicroFinanceBank Ltd. 16th, 17th Floor, Habib Bank Ltd. Tower, Near China ChowkBlue AreaIslamabad, Federal44000

Data approved: 2013-07-25

Data version: 1

Age of data: 132 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (PKR)	PKR 17,017,748
Portfolio (USD)	USD 173,650.49
Active Clients with Loans	233
Approximate % Female Clients	0% - 20%
Approximate % Urban Clients	40% - 60%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Financing facility for economic activity and general purposes.

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	x
Workplace visits
Business training
Other training
Other
Other (2)
No other services

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)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	6
# Regions for this product	6
Regions Active	Azad Kashmir, Balochistan, Gilgit-Baltistan, Khyber Pakhtunkwa, Punjab, Sindh

Loan Conditions

Loan Amount

Currency	PKR
Minimum loan size	PKR 20,000
Maximum loan size	150,000

Distribution at Disbursement (Est.)

Loans less than PKR 10,000	0
PKR 10,000-25,000	5%
PKR 25,000-50,000	15%
PKR 50,000-75,000	60%
PKR 75,000-150,000	20%
Greater than PKR 150,000	20%

Loan Term and Grace Period

Shortest loan term	3.0 months
Longest loan term	24.0 months
Approx average	18.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	5%
Between 7 and 9 months	0
Between 10 and 12 months	70%
Between 13 and 18 months	15%
Longer than 18 months	10%

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthly	x
Every 2 months
Quarterly	x
Every 6 months
Every 12 months
Single end payment	x
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	4.00%
Highest quoted nominal interest	20.00%
Reason(s) why interest rate varies	Collateral
Interest rate period	Yearly
Interest Rate Calculation Method	Decl Bal
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	loan processing fee
% of loan amount - min	0
% of loan amount - max	0
OR, Fixed amount - min	638
Fixed amount - max	870
Reason for variation	Fee applies on different types of collateral. Insurance fee is part of the processing fee
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

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?	Yes
Percentage of fees	16%
All or some fees taxed	Some

Full Pricing Data

Individual Loan Against Cash/Near Cash samples

	Sample 1	Sample 2	Sample 3
Loan Amount	PKR 27,000	PKR 45,000	PKR 120,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2013-04-26	2012-05-19	2013-06-10
Loan Term (Months)	12.0 months	18.0 months	24.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months
Total Cost of Credit	PKR 3,892	PKR 6,423	PKR 5,939
True Price by Comp
Interest price component	19.8%	14.9%	4.0%
Fee Component	5.4%	2.2%	0.6%
Insurance Component	0.0%	0.0%	0.0%
Tax Component	0.9%	0.4%	0.1%
Deposit Component	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	26.1%	17.5%	4.7%
Transparency Index	N/A	N/A	N/A

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

Individual Loan Against Cash/Near Cash Price Graphs

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
Adhikar	35,300	2,674,000	1	139
AMPL	0	0	0	139
Arman	41,500	529,107,000	1	139
Arohan	43,500	8,091,000	2	139
ASA INDIA	164,000	15,380,000	1	139
Asirvad	113,500	19,328,000	1	139
Asmitha	1,114,800	217,867,000	1	139
Bandhan	4,048,600	674,564,000	5	139
Belstar	123,000	23,945,000	2	117
BSFL	275,200	31,590,000	3	139
Chaitanya	20,700	3,748,000	3	139
Disha Microfin	69,000	14,332,000	2	139
Equitas	1,220,000	186,415,000	4	139
ESAF	354,200	43,500,000	5	139
FFSL	150,600	35,719,000	2	139
Fusion	66,800	9,820,000	2	139
Grama Vidiyal	738,200	102,101,000	1	139
Grameen Koota	586,600	83,555,000	15	141
Janalakshmi	506,000	119,077,000	2	139
L & T Finance	399,800	37,199,000	1	139
MFL	331,800	49,083,000	1	139
MMFL	175,000	23,752,000	2	139
Mpower	13,600	2,263,000	2	139
Sahayata	0	0	0	139
Saija	24,700	4,682,000	2	139
Samasta	45,500	4,809,000	2	139
Satin	405,600	90,174,000	2	139
SCCI	115,600	15,910,000	2	139
Share	2,195,400	376,727,000	1	139
SKS	3,409,000	355,029,000	2	139
SMILE	360,200	56,927,000	1	139
SNFL	9,400	1,779,000	1	139
Sonata Finance	158,200	22,724,000	3	141
Spandana	533,400	147,240,000	2	139
Suryoday	78,600	14,713,000	3	139
SVCL	118,200	18,886,000	1	139
Swadhaar	92,800	17,166,000	3	139
Trident	68,700	8,852,000	1	139
Ujjivan	913,300	160,848,000	5	139
Utkarsh	168,600	25,915,000	3	139
VFS	175,400	19,264,000	2	139
Asomi	50,300	4,743,000	2	171
AES India	3,600	286,000	1	171
Arth	2,900	611,000	2	171
Asomi	50,300	4,743,000	2	171
Barasat GS	1,100	99,508.02	1	171
BJS	6,000	468,000	1	171
Cashpor	417,000	50,452,000	1	170
Credible	10,000	1,669,540.36	2	171
DIBAKAR	1,800	145,000	1	170
GOF	65,200	5,388,000	4	170
Hope	62,600	4,407,000	1	168
Jaago	2,700	237,000	1	169
LOK	4,900	573,000	1	170
Nano	25,600	3,660,000	2	171
NBSAAVS	28,100	2,821,000	1	168
Nirantara	8,200	917,000	2	170
Parama	7,100	482,000	1	170
Pragathi	26,200	4,579,000	6	170
PWMACS	36,500	5,946,000	1	170
Saadhana	90,900	12,046,000	2	170
Sambhav	1,500	183,000	3	170
Seba Rahara	6,700	468,000	1	170
SU	61,100	5,498,000	1	170
Swayanshree	7,900	918,000	2	170
Vikas Samiti	1,600	168,000	1	170
Vistaar	4,300	1,157,000	2	168
We The People	1,100	244,000	2	170
WEMCS	1,100	85,000	1	170
Yukti	1,100	99,000	2	170

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 ∞

Institution

Product

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Full Pricing Data

Individual Loan Against Cash/Near Cash samples

Individual Loan Against Cash/Near Cash Price Graphs

Total Borrowers of Samples

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