2. GM Bank
Please note that the information you are viewing is 158 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. TMFB
Please note that the information you are viewing is 113 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

GM Bank of Luzon, Inc. Brgy. Dimasalang, Maharlika HighwayCabanatuan City, Nueva Ecija3100
Data approved: 2011-11-16
Data version: 1
Age of data: 158 months

Institution

Tameer Microfinance Bank A-15, Block 7/8 KCHS Union, Karachi 75350, PakistanKarachi75350
Data approved: 2015-04-15
Data version: 2
Age of data: 113 months
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Product

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Product Summary

Number borrowers19,431
Loan Amount (range)PHP 3,000 - 50,000
Loan Term (range)6
Other Services (text summary)Credit Educ, Group Mtgs, Credit Ins, Savings
Annual Interest & Method25.9% annual, Flat
Fees4.00% upfront 350.00 upfront
Insurance1.75% upfront 4.00 ongoing
Tax5.00% loan amt
Comp Dep100.00 upfront 16.00% ongoing
Range of pricing 
Interest Price ComponentN/A
Fee Component75.5% - 100.5% (Int+Fee)
Insurance Component4.5% - 16.7%
Tax Component Range3.3% - 14.3%
Full APR (int fee ins tax dep)107.0% - 142.7%
Transparency Index (min/max)18 - 53
Transparency Index (average)21

Product Details

Key Statistics
Outstanding portfolio (PHP)PHP 64,676,194.81
Portfolio (USD)USD 1,547,277.39
Active Clients with Loans19,431
Approximate % Female Clients60% - 80%
Approximate % Urban Clients0% - 20%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
The Asenso Loan is a microfinance product of GM Bank, Inc. focusing on providing access to a group loan product primarily for female micro entrepreneurs.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visits
Business training
Other training
OtherSavings
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried worker
Must be specific age groupx
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institutionN/A
# Regions for this productN/A
Regions Active

Product Details


This product either has less than 50 active borrowers or less than 10 loan disbursements over the past 9 months. MFTransparency presents basic data rather than full data for low volume products
Key Statistics
Outstanding portfolio (PKR)PKR 15,655,783
Portfolio (USD)USD 153,739.79
Active Clients with Loans759
Approximate % Female Clients0
Approximate % Urban Clients100%
Description
This financing facility offers low cost local brands (Chinesse Technology) to South region customers. Whereas, in North only Honda Atlas motorbikes are being financed.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loanx
Agriculture
Education
Other household finance
Other
Other (2)
Eligibility
Menx
Women
Must run a business
Must own a home or land
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 institution5
# Regions for this productN/A
Regions Active

Loan Conditions

Loan Amount
CurrencyPHP
Minimum loan sizePHP 3,000
Maximum loan size50,000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term6.0 months
Approx average6.0 months
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weeklyx
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 interest2.16%
Highest quoted nominal interest2.16%
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?Yes
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionService ChargeMembership Fee/Notarial Fee
% of loan amount - min4.00%0
% of loan amount - max4.00%0
OR, Fixed amount - min0350
Fixed amount - max0350
Reason for variationN/A
Appears on Repayment Sched?NoNo
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionLoan Protection Insurance
% of loan amount - min1.75%
% of loan amount - max1.75%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Insurance Fees
Ins 1
DescriptionLife Insurance
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min4
Fixed amount - max4
Reason for variationN/A
Appears on Repayment Sched?No
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?
Do borrowers control deposit in their group?
Deposit BEFORE or AT Disbursement
% loan amount deposited0
or, Fixed-amount depositedPHP 100
Deposits DURING period payments
% loan amount deposited16.00%
or, Fixed-amount deposited0
Conditions on access to depositWhen Leaving
Interest Paid on Deposit
Minimum interest rate paid0
Maximum interest rate paid0
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?Yes
Percentage of fees0
All or some fees taxedN/A
Additional Comments
Annual fees collected: Christmas party fee (P12), every June-December. Savings collected is composed of personal savings (5%), group fund (1%) and center fund (1%)

Full Pricing Data

Asenso Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountPHP 5,000PHP 10,000PHP 15,000PHP 20,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2011-08-082011-08-082011-08-082011-08-22
Loan Term (Months)5.8 months5.8 months5.8 months5.8 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot Known
True Price by Comp       
Interest and Fee Component100.5%83.6%78.2%75.5%
Insurance Component16.7%12.2%10.8%10.0%
Tax Component5.7%5.4%5.3%5.2%
Deposit Component19.7%17.5%16.7%16.3%
Full APR (int fee ins tax dep)142.7%118.7%110.9%107.0%
Transparency Index18222324
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
Asenso Loan Price Graphs


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Key Statistics
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# 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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