Pricing Information
Interest
Lowest quoted nominal interest | 2.00% |
Highest quoted nominal interest | 3.00% |
Reason(s) why interest rate varies | Client Risk, Loan Purpose, Interest rate varies if client has exceeded the loan duration or if the loan is given to a new client, not as an incentive loan. |
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 Fee | | Business Development Support Service |
% of loan amount - min | 3.00% | | 0 |
% of loan amount - max | 3.00% | | 0 |
OR, Fixed amount - min | 0 | | 100 |
Fixed amount - max | 0 | | 100 |
Reason for variation | | | N/a |
Appears on Repayment Sched? | No | | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 | | Ins 2 |
---|
Description | Crop Insurance (PCIC) for corn and palay | | ASKI MBA Life Insurance |
% of loan amount - min | 5.31% | | 0 |
% of loan amount - max | 8.48% | | 0 |
OR, Fixed amount - min | 0 | | 480 |
Fixed amount - max | 0 | | 480 |
Reason for variation | N/A | | N/A |
Appears on Repayment Sched? | No | | No |
Ongoing Insurance Fees
| Ins 1 |
---|
Description | ASKI MBA Life Insurance |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 30 |
Fixed amount - max | 30 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | Yes |
Do borrowers control deposit in their group? | |
Deposit BEFORE or AT Disbursement
Deposits DURING period payments
% loan amount deposited | 10.00% |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | Access During |
Interest Paid on Deposit
Minimum interest rate paid | 1.00% |
Maximum interest rate paid | 1.00% |
Interest payment frequency | Monthly |
Taxes
Are taxes charged on this product? | No |
Additional Comments
AMP loan is given either as incentive loan or regular loan to clients. For regular loans, interest rate is 3% and the client should be enrolled to ASKI MBA, paying his/her membership fee of P3 and first week premium contribution of P3. Also, corn and palay agribusiness is insured with the Phil. Crop Insurance Company (PCIC). Interest on CBU is computed based on average daily balance and is directly credited to the client's account. Outreach based on April 211 data.