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Institution
Data approved: 2011-11-15
Data version: 1
Age of data: 160 months
Key Statistics
| Outstanding portfolio (PHP) | PHP 70,000,000 |
| Portfolio (USD) | USD 1,674,641.15 |
| Active Clients with Loans | 10,000 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 20% - 40% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
Credit extended to borrowers for income-generating activities, using group lending methodology
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | x |
| Business training | x |
| Other training | |
| Other | Bookeeping, consultancy |
| Other (2) | Mortuary Fund/Life Insurance |
| No other services | |
Eligibility
| Men | x |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Must have experience running a business |
| Other (2) | |
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 3,000 |
| Maximum loan size | 100,000 |
Loan Term and Grace Period
| Shortest loan term | 6.0 months |
| Longest loan term | 6.0 months |
| Approx average | 6.0 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 | |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 2.00% |
| Highest quoted nominal interest | 2.00% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
This product has no upfront feesOngoing Fees
| Fee 1 |
|---|
| Description | Service Charge (amortized) |
| % of loan amount - min | 6.00% |
| % of loan amount - max | 6.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
Upfront Insurance Fees
| Ins 1 |
|---|
| Description | Mortuary Fund |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 100 |
| Fixed amount - max | 100 |
| 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? | |
| Do borrowers control deposit in their group? | |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 4.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | PHP 20 |
| Conditions on access to deposit | Access During |
Interest Paid on Deposit
| Minimum interest rate paid | 3.00% |
| Maximum interest rate paid | 3.00% |
| Interest payment frequency | End Term |
Taxes
| Are taxes charged on this product? | Yes |
| Percentage of fees | 0 |
| All or some fees taxed | N/A |
Additional Comments
Borrower can withdraw from savings only after 2 loan cycles. Insurance is in-house. For loan amounts greater than P5, FCB has tie-up with Paramount Insurance. CBU is withdrawable only upon exit from the program. 2% of CBU is transferred to time deposit. Savings is withdrawable any time as long as 1% of loan amount is maintained
Full Pricing Data
Hiram (Group Loan) samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
|---|
| Loan Amount | PHP 3,000 | | PHP 6,000 | | PHP 15,000 | | PHP 28,000 | | PHP 60,000 | | PHP 90,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2011-09-02 | | 2011-03-10 | | 2011-03-14 | | 2011-07-21 | | 2011-07-15 | | 2011-07-12 |
| Loan Term (Months) | 5.8 months | | 5.8 months | | 6.0 months | | 5.8 months | | 5.8 months | | 5.8 months |
| Grace Period (Months) | 0.0 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 | | Not Known |
| True Price by Comp | | | | | | | | | | | |
| Interest and Fee Component | 68.6% | | 68.6% | | 68.6% | | 68.6% | | 68.6% | | 68.6% |
| Insurance Component | 14.6% | | 7.2% | | 2.9% | | 1.5% | | 0.4% | | 0.4% |
| Tax Component | 7.0% | | 7.0% | | 6.9% | | 6.9% | | 6.9% | | 6.9% |
| Deposit Component | 20.9% | | 12.1% | | 7.9% | | 6.7% | | 6.0% | | 5.8% |
| Full APR (int fee ins tax dep) | 111.2% | | 94.9% | | 86.3% | | 83.7% | | 81.9% | | 81.7% |
| Transparency Index | 22 | | 25 | | 28 | | 29 | | 29 | | 29 |
| | | | | | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
Hiram (Group Loan) Price Graphs
