Maranding Women Investors Multipurpose Cooperative - Life Protection Loan - MFTransparency.org Truth In Lending Tables

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Institution

Maranding Women Investors Multipurpose Cooperative 2nd Floor, Fabian Flores Cultural CenterMarandingLala, Lanao del Norte/Region X9211

Data approved: 2011-12-07

Data version: 1

Age of data: 158 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (PHP)	PHP 1,863,000
Portfolio (USD)	USD 44,569.38
Active Clients with Loans	2,400
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	0% - 20%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

For members who want to avail of life insurance

Loan Purpose

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

Included Services

Credit education	x
Group meetings
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
Must own a home or land
Must be a salaried worker
Must be specific age group	x
Other	18-64 y.o
Other (2)	CI/BI

# 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 1,380
Maximum loan size	1,380

Loan Term and Grace Period

Shortest loan term	4.0 months
Longest loan term	8.0 months
Approx average	8.0 months

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily	x
Weekly	x
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	1.50%
Highest quoted nominal interest	1.50%
Interest rate period	Monthly
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	3.00%	0
% of loan amount - max	3.00%	0
OR, Fixed amount - min	0	100
Fixed amount - max	0	100
Reason for variation		N/A
Appears on Repayment Sched?	No	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

This product has no upfront insurance fees

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	0
or, Fixed-amount deposited	PHP 100

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	0
Conditions on access to deposit	Access During

Interest Paid on Deposit

Minimum interest rate paid	5.00%
Maximum interest rate paid	5.00%
Interest payment frequency	Quarterly

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Additional Comments

Savings (Prior) : PHP 1 CBU

Full Pricing Data

Life Protection Loan samples

	Sample 1	Sample 2	Sample 3
Loan Amount	PHP 1,380	PHP 1,380	PHP 1,380
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2011-07-14	2011-05-16	2011-07-06
Loan Term (Months)	8.0 months	8.0 months	8.0 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	34.1%	34.1%	34.1%
Insurance Component	5.1%	5.1%	5.1%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	6.1%	6.1%	6.1%
Full APR (int fee ins tax dep)	45.2%	45.2%	45.2%
Transparency Index	40	40	40

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

Life Protection 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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Total Borrrowers of Samples


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