Institution Type | Credit Union / Cooperative |
Is this institution regulated? | Yes |
Website address | http://www.caritas.org.ph/ |
Year established | 2006 |
Head of Institution | Fr. Mario Castillo CM |
Regions active | |
# Branches | 19 |
Total Portfolio (nat'l) | PhP 57,042,219.37 |
Total Portfolio (USD) | USD 1,364,646.40 |
Active clients with loans | 12,142 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 80% - 100% |
Network affiliations | Caritas Manila/United Church Cooperative, Metro South Cooperative Bank, Vincentian Family Multi-Purpose Cooperative, Caritas et labora Human Resource Cooperative |
Funders | Caritas Manila, Radyo Veritas, Bahay Pari MPC |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Regular Loan - 11 weeks | PHP 2,000 - 150,000 | 2.6 | 80% - 100% | 80% - 100% | Business | Women, Men, Have business | Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Life insurance, Values Formation | |||||||
Regular Loan - 15 weeks | PHP 2,000 - 150,000 | 3.5 | 80% - 100% | 80% - 100% | Business | Women, Men, Have business | Group Mtgs, Credit Ins, Tech Asst Visits, Business Training | |||||||
Regular Loan - 23 weeks | PHP 2,000 - 150,000 | 5.3 | 80% - 100% | 60% - 80% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Life insurance, Values Formation, Marketing Assistance, Business Development |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Regular Loan - 11 weeks | 40.0% annual, Flat | 1 Fee | 1 Ins | None | 50.00 ongoing | 103.1% | 108.1% - 118.2% | 36 | ||||||||
Regular Loan - 15 weeks | 37.6% annual, Flat | 1 Fee | 1 Ins | None | 50.00 ongoing | 92.6% | 96.4% - 111.7% | 37 | ||||||||
Regular Loan - 23 weeks | 30.0% annual, Flat | 1 Fee | 1 Ins | None | 50.00 ongoing | 71.8% | 77.5% - 96.2% | 36 |
Outstanding portfolio (INR) | INR 3,017,141,968 |
Portfolio (USD) | USD 56,927,206.94 |
Active Clients with Loans | 360,271 |
Approximate % Female Clients | 100% |
Approximate % Urban Clients | 40% - 60% |
Individual | x |
Solidarity group | |
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 | |
Group meetings | x |
Credit insurance | x |
Workplace visits | |
Business training | |
Other training | |
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 | x |
Household income <60,000 INR | x |
Household income <120,000 INR | x |
Must live in rural area | x |
Must lives in urban area | x |
Other | |
Other (2) |
# Regions for this institution | 2 |
# Regions for this product | 2 |
Regions Active | Tamil Nadu, Puducherry |
Currency | INR |
Minimum loan size | INR 5,000 |
Maximum loan size | 30,000 |
Loans less than INR 5,000 | 0 |
INR 5,000-15,000 | 50% |
INR 15,000-25,000 | 40% |
INR 25,000-35,000 | 10% |
INR 35,000-45,000 | 0 |
Greater than INR 45,000 | 0 |
Shortest loan term | 6.0 months |
Longest loan term | 24.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 5% |
Between 13 and 18 months | 80% |
Longer than 18 months | 15% |
Grace period usage | 100% |
Average grace period | DK |
Daily | |
Weekly | x |
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 | 0.89% |
% of loan amount - max | 0.89% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | GTLI |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 60 |
Fixed amount - max | 224 |
Reason for variation | Rs. 60 for 1 year credit and Rs. 224 for 2 year product |
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 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | INR 5,000 | INR 10,000 | INR 20,000 | INR 25,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2013-03-28 | 2013-03-01 | 2013-03-01 | 2013-03-01 | |||
Loan Term (Months) | 12.0 months | 12.0 months | 24.0 months | 24.0 months | |||
Grace Period (Months) | 0.0 months | 0.2 months | 0.2 months | 0.1 months | |||
Total Cost of Credit | INR 746 | INR 1,426.99 | INR 4,065.98 | INR 4,873.98 | |||
True Price by Comp | |||||||
Interest price component | 26.0% | 25.2% | 25.4% | 25.6% | |||
Fee Component | 1.9% | 1.9% | 1.4% | 1.5% | |||
Insurance Component | 2.8% | 1.3% | 1.8% | 1.5% | |||
Tax Component | 0.2% | 0.3% | 0.2% | 0.2% | |||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Full APR (int fee ins tax dep) | 30.9% | 28.7% | 28.8% | 28.8% | |||
MFIN MFI Earning (Annualised) | 27.9% | 27.1% | 26.8% | 27.1% | |||
MFIN Cost to Borrower (Annualised) | 30.9% | 28.7% | 28.8% | 28.8% | |||
Transparency Index | 84 | 91 | 90 | 90 | |||
MFIN Transparency Index | 100 | 100 | 100 | 100 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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