Aakay ang MILAMDEC Microfinance Foundation, Inc - Agricultural Loan - MFTransparency.org Truth In Lending Tables

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Institution

Aakay ang MILAMDEC Microfinance Foundation, Inc #27 Dahlia StreetIlaya CarmenCagayan de Oro City, Misamis Oriental/Region X9000

Data approved: 2011-11-15

Data version: 1

Age of data: 159 months

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Product

Agricultural Loan Product 1 of 2 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (PHP)	PHP 13,000,000
Portfolio (USD)	USD 311,004.78
Active Clients with Loans	967
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	0% - 20%

Methodology

Individual	x
Solidarity group
Village banking
Self help group	x
Other

Description

Intended for 1st Class Member's Husband with agricultural lands.

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture	x
Education
Other household finance
Other
Other (2)

Included Services

Credit education	x
Group meetings	x
Credit insurance	x
Workplace visits	x
Business training	x
Other training
Other
Other (2)
No other services

Eligibility

Men	x
Women	x
Must run a business	x
Must own a home or land	x
Must be a salaried worker
Must be specific age group
Other
Other (2)

# 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 20,000
Maximum loan size	60,000

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	12.0 months
Approx average	9.0 months

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly	x
Every 2 weeks
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment	x
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	20.00%
Highest quoted nominal interest	20.00%
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	2.00%	1.00%
% of loan amount - max	2.00%	1.00%
OR, Fixed amount - min	0	0
Fixed amount - max	0	0
Reason for variation		N/A
Appears on Repayment Sched?	No	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1	Ins 2
Description	MILAMDEC Tibod Mutual Benefits	Crop Insurance
% of loan amount - min	0	6.00%
% of loan amount - max	0	6.00%
OR, Fixed amount - min	150	0
Fixed amount - max	150	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	All
Criteria	N/A
Is deposit indicated on the repayment schedule?	Yes
Do borrowers control deposit in their group?	Yes

Deposit BEFORE or AT Disbursement

% loan amount deposited	30.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	30.00%
or, Fixed-amount deposited	0
Conditions on access to deposit	When Leaving

Interest Paid on Deposit

Minimum interest rate paid	4.00%
Maximum interest rate paid	4.00%
Interest payment frequency	Annually

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Agricultural Loan samples

	Sample 1	Sample 2	Sample 3
Loan Amount	PHP 30,000	PHP 40,000	PHP 50,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2011-08-25	2011-08-29	2011-08-25
Loan Term (Months)	5.0 months	5.0 months	5.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	56.6%	56.6%	56.6%
Insurance Component	21.2%	19.9%	19.8%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	36.2%	35.3%	35.3%
Full APR (int fee ins tax dep)	113.9%	111.8%	111.6%
Transparency Index	18	18	18

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

Agricultural Loan Price Graphs

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

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