Prasac interest rates

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Prasac interest rates

Post by Forktongue2 » Thu Aug 31, 2017 6:11 pm

Prasac MFI have today reduced their interest rates by 0.25% . The 12 month rate is now 7.75%. They have also equalised the Riel and US dollar interest rates for the first time.
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Re: Prasac interest rates

Post by mauser765 » Thu Aug 31, 2017 6:23 pm

Forktongue2 wrote:
Thu Aug 31, 2017 6:11 pm
Prasac MFI have today reduced their interest rates by 0.25% . The 12 month rate is now 7.75%. They have also equalised the Riel and US dollar interest rates for the first time.
Your MFI can't afford to advertise on TV/in newspapers?

7.75% is very high.
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Re: Prasac interest rates

Post by AlonzoPartriz » Thu Aug 31, 2017 6:31 pm

mauser765 wrote:
Thu Aug 31, 2017 6:23 pm
Forktongue2 wrote:
Thu Aug 31, 2017 6:11 pm
Prasac MFI have today reduced their interest rates by 0.25% . The 12 month rate is now 7.75%. They have also equalised the Riel and US dollar interest rates for the first time.
Your MFI can't afford to advertise on TV/in newspapers?

7.75% is very high.
I've joined a group that's lobbying Prassac to cut it's rates to 0.5% p a. Good news for investors if it comes off, as they really will be able to help the poor even more than they say they are now.
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mauser765
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Re: Prasac interest rates

Post by mauser765 » Thu Aug 31, 2017 6:33 pm

7.75% is their MONTHLY rate.

Obviously scobienz would defend that,
Money is human happiness in the abstract; he, then, who is no longer capable of enjoying human happiness in the concrete devotes himself utterly to money.
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AndyKK
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Re: Prasac interest rates

Post by AndyKK » Thu Aug 31, 2017 6:38 pm

Are these the interest rates for depositor's? If so what are the pay back rates for lenders? Or are they one of the same?
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Re: Prasac interest rates

Post by mauser765 » Thu Aug 31, 2017 6:42 pm

I think it's the rate for borrowing.

They sound almost proud of the 7.75% monthly rate, lol.
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Re: Prasac interest rates

Post by AlonzoPartriz » Fri Sep 01, 2017 3:20 pm

AndyKK wrote:
Thu Aug 31, 2017 6:38 pm
Are these the interest rates for depositor's? If so what are the pay back rates for lenders? Or are they one of the same?
New loans have been capped at 18% since April or so this year, compounded up to 50 or so % p a I shouldn't wonder. If so, down from 80% per annum on a $1500 or so loan. The middle men, the MFIs, have cut their customer's investment returns while more than likely​ keeping the same or very similar​ profits themselves. They still get to sell off their defaulting customers land at highly inflated rates than which they'd purchased it though. It's the really poor that fund the whole thing. Who else would​ ever even consider taking out $1500 at 80% pa. No wonder NGOs have a bad reputation in Cambodia.
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mauser765
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Re: Prasac interest rates

Post by mauser765 » Fri Sep 01, 2017 6:52 pm

I don't understand the economics, even compound interest rates confuse me, but I was used to 7% per annum back home.

&% per month is usury, plain and simple.

No doubt some will defend it, but then for osme, anything that earns a buck, from child prostitution to being a priest is kosher if money is involved
Money is human happiness in the abstract; he, then, who is no longer capable of enjoying human happiness in the concrete devotes himself utterly to money.
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Re: Prasac interest rates

Post by Pizzalover » Fri Sep 01, 2017 11:07 pm

as stated by the OP 7.75 % per year and only without monthly interest withdrawal

Shouldnt be too difficult to understand.....
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Re: Prasac interest rates

Post by mauser765 » Fri Sep 01, 2017 11:10 pm

Pizzalover wrote:
Fri Sep 01, 2017 11:07 pm
as stated by the OP 7.75 % per year and only without monthly interest withdrawal

Shouldnt be too difficult to understand.....
Indeed. Mea culpa. :oops:

Apology is in order.
Money is human happiness in the abstract; he, then, who is no longer capable of enjoying human happiness in the concrete devotes himself utterly to money.
Arthur Schopenhauer
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