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Pricing Information
Interest
| Lowest quoted nominal interest | 2.00% |
| Highest quoted nominal interest | 3.00% |
| Reason(s) why interest rate varies | Loan Size, Client Risk, Collateral, Loan Purpose, < 2000 - 2% 200001 - 350000 - 2.5% 35001 - 60,000 - 3% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 | | Fee 2 |
|---|
| Description | Service Charge | | Organizational Devt. Fund (ODF) |
| % of loan amount - min | 1.70% | | 1.70% |
| % of loan amount - max | 2.00% | | 2.00% |
| OR, Fixed amount - min | 0 | | 0 |
| Fixed amount - max | 0 | | 0 |
| Reason for variation | N/A | | N/A |
| Appears on Repayment Sched? | No | | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 | | Ins 2 |
|---|
| Description | Pension Plan (per month) | | Loan Insurance |
| % of loan amount - min | 0 | | 0.50% |
| % of loan amount - max | 0 | | 1.00% |
| OR, Fixed amount - min | 100 | | 0 |
| Fixed amount - max | 100 | | 0 |
| Reason for variation | N/A | | N/A |
| Appears on Repayment Sched? | No | | No |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | Some |
| Criteria | If loan is payable within 1 month, no retention fund detection |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? | |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 2.00% - N/A |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | PHP 100 - N/A |
| Conditions on access to deposit | When Leaving |
Interest Paid on Deposit
| Minimum interest rate paid | 6.00% |
| Maximum interest rate paid | 6.00% |
| Interest payment frequency | Annually |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
ODF - maximum amount of P5 per year per member. Used for expenses incurred during AGM, Christmas party and skills training. Mutual Benefit Fund Contribution - P25 x loan term in months; provides hospitalization allowance and death benefit (P2,-1,). CBU: 1 per month Interest rebates are given to those with good repayment record. Interest is recomputed based on diminishing balance. Loan insurance - .5% if less than 6 months, 1% if more than 6 months Interest is pre-deducted from the loan. Collection charge is collected from borrowers who do not voluntarily go to the PCSD office to remit their payment.
