| Outstanding portfolio (INR) | INR 52,251,710 |
| Portfolio (USD) | USD 985,881.32 |
| Active Clients with Loans | 5,850 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 80% - 100% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | x |
| Other training | x |
| Other | |
| Other (2) | |
| No other services |
| Men | |
| Women | x |
| 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 | x |
| Household income <120,000 INR | x |
| Must live in rural area | |
| Must lives in urban area | |
| Other | |
| Other (2) |
| # Regions for this institution | 5 |
| # Regions for this product | 1 |
| Regions Active | Tamil Nadu |
| Currency | INR |
| Minimum loan size | INR 15,000 |
| Maximum loan size | 15,000 |
| Loans less than INR 5,000 | 0 |
| INR 5,000-15,000 | 100% |
| INR 15,000-25,000 | 0 |
| INR 25,000-35,000 | 0 |
| INR 35,000-45,000 | 0 |
| Greater than INR 45,000 | 0 |
| Shortest loan term | 16.5 months |
| Longest loan term | 16.5 months |
| Approx average | 16.5 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 100% |
| Longer than 18 months | 0 |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | |
| Every 2 weeks | x |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 26.00% |
| Highest quoted nominal interest | 26.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Life Insurance |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 260 |
| Fixed amount - max | 260 |
| Reason for variation | Insurance of Rs. 20000 each to member & guarantor for 18 months |
| Appears on Repayment Sched? | Yes |
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | Yes |
| Percentage of fees | 12.4% |
| All or some fees taxed | Some |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 15,000 | INR 15,000 | INR 15,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-03-30 | 2013-01-02 | 2013-02-05 | ||
| Loan Term (Months) | 17.0 months | 17.0 months | 17.0 months | ||
| Grace Period (Months) | 0.1 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | INR 3,353.54 | INR 3,353.54 | INR 3,353.54 | ||
| True Price by Comp | |||||
| Interest price component | 25.8% | 26.0% | 26.0% | ||
| Fee Component | 1.5% | 1.5% | 1.5% | ||
| Insurance Component | 2.6% | 2.6% | 2.6% | ||
| Tax Component | 0.2% | 0.2% | 0.2% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 30.1% | 30.3% | 30.3% | ||
| MFIN MFI Earning (Annualised) | 27.3% | 27.5% | 27.5% | ||
| MFIN Cost to Borrower (Annualised) | 30.1% | 30.3% | 30.3% | ||
| Transparency Index | 86 | 86 | 86 | ||
| MFIN Transparency Index | 100 | 100 | 100 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Institution Type | RurBank |
| Is this institution regulated? | Yes |
| Website address | http://www.firstmacrobank.com/ |
| Year established | 1960 |
| Head of Institution | Reggie Ocampo |
| Regions active | |
| # Branches | 8 |
| Total Portfolio (nat'l) | PhP 28,000,000 |
| Total Portfolio (USD) | USD 669,856.46 |
| Active clients with loans | 3,000 |
| Approximate % female clients | 80% - 100% |
| Approximate % urban clients | 60% - 80% |
| Network affiliations | Rural Bankers Association of the Philippines, People's Credit and Finance Corporation |
| Funders |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sikap | PHP 5,000 - 15,000 | 5.8 | 80% - 100% | 40% - 60% | Business | Women, Must have net income of > P2000 per month | Credit Educ, Group Mtgs, Tech Asst Visits, Life insurance | |||||||
| Unlad | PHP 5,000 - 150,000 | 1 - 6 | 80% - 100% | 60% - 80% | Business | Women, Men, Have business | Credit Ins, Tech Asst Visits |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sikap | 30.0% annual, Flat | 1 Fee | 1 Ins | 5.00% loan amt | 5.0% upfront 20.00 ongoing | 68.4% - 70.6% | 113.4% - 134.3% | 24 | ||||||||
| Unlad | 24.0%-36.0% annual, Flat | 2 Fees | 1 Ins | 0.50% loan amt | 10.00% ongoing | 77.5% - 85.5% | 92.7% - 102.3% | 25 |
| Key Statistics | |
|---|---|
| # Samples: | |
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| # Borrowers | |
| Loan Portfolio (USD) | |
| % Products using declining balance | |
| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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