1st Valley Bank, Inc. A Rural Bank - Barangay and LGU Livelihood Loan - MFTransparency.org Truth In Lending Tables

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Institution

1st Valley Bank, Inc. A Rural Bank Vamenta Blvd. corner Lirio St.CarmenCagayan de Oro City, Misamis Oriental8000

Data approved: 2011-11-23

Data version: 1

Age of data: 160 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (PHP)	PHP 352,707,483
Portfolio (USD)	USD 8,437,978.06
Active Clients with Loans	12,175
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	40% - 60%

Methodology

Individual	x
Solidarity group
Village banking
Self help group	x
Other

Description

Granted to barangay officials and LGU employees and officials for livelihood purposes.

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture	x
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	x
Must be specific age group	x
Other	18-70 years old
Other (2)	Barangay & LGU Officials

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	N/A
# Regions for this product	N/A
Regions Active

Loan Conditions

Loan Amount

Currency	PHP
Minimum loan size	PHP 10,000
Maximum loan size	250,000

Loan Term and Grace Period

Shortest loan term	12.0 months
Longest loan term	24.0 months
Approx average	18.0 months

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
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	18.00%
Highest quoted nominal interest	20.00%
Reason(s) why interest rate varies	If bills discounted =18%pa. If time loan =20% pa.
Interest rate period	Yearly
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	Notarial Fee
% of loan amount - min	4.00%	0
% of loan amount - max	4.00%	0
OR, Fixed amount - min	0	50
Fixed amount - max	0	50
Reason for variation		N/A
Appears on Repayment Sched?	No	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Insurance
% of loan amount - min	1.50%
% of loan amount - max	2.50%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	No

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

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

% loan amount deposited	0
or, Fixed-amount deposited	PHP 500

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	0
Conditions on access to deposit	Final Pmt

Interest Paid on Deposit

Minimum interest rate paid	1.50%
Maximum interest rate paid	1.50%
Interest payment frequency	Annually

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Barangay and LGU Livelihood Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5
Loan Amount	PHP 15,000	PHP 30,000	PHP 60,000	PHP 90,000	PHP 120,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2011-07-01	2011-06-27	2011-06-21	2011-06-25	2011-06-27
Loan Term (Months)	24.0 months	24.0 months	24.0 months	24.0 months	24.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	39.7%	39.3%	39.2%	39.1%	39.1%
Insurance Component	3.0%	3.0%	3.0%	3.6%	0.0%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	2.4%	1.1%	0.6%	0.4%	0.3%
Full APR (int fee ins tax dep)	45.1%	43.5%	42.8%	43.1%	39.4%
Transparency Index	40	41	42	42	46

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

Barangay and LGU Livelihood Loan Price Graphs

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Key Statistics
# Samples:
# Products
# Institutions
# Countries
# Borrowers
Loan Portfolio (USD)
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% Products with one or more fee
% Products with one or more insurances
% Products with compulsory deposits

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