Negros Women for Tomorrow Foundation, Inc. - Special Loan - MFTransparency.org Truth In Lending Tables

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Institution

Negros Women for Tomorrow Foundation, Inc. 102 San Sebastian, Verbena Sts.Bacolod City, Negros Occidental6100

Data approved: 2011-11-15

Data version: 1

Age of data: 159 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (PHP)	PHP 17,900,000
Portfolio (USD)	USD 428,229.67
Active Clients with Loans	5,000
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	0% - 20%

Methodology

Individual
Solidarity group	x
Village banking	x
Self help group
Other

Description

This loan product can be used by the client for business expansion, start-up business, educational and home improvement such as toilet construction, electrical installation, house repair, etc. to improve client's standard of living.

Loan Purpose

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

Included Services

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

Eligibility

Men
Women	x
Must run a business	x
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 institution	N/A
# Regions for this product	N/A
Regions Active

Loan Conditions

Loan Amount

Currency	PHP
Minimum loan size	PHP 1,000
Maximum loan size	150,000

Loan Term and Grace Period

Shortest loan term	3.0 months
Longest loan term	36.0 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
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	2.50%
Highest quoted nominal interest	2.50%
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 fees

Ongoing Fees

	Fee 1	Fee 2
Description	Service Charge	Development Cost
% of loan amount - min	3.00%	5.00%
% of loan amount - max	3.00%	5.00%
OR, Fixed amount - min	0	0
Fixed amount - max	0	0
Reason for variation	amortized over the loan term	amortized over the loan term
Appears on Repayment Sched?	Yes	Yes

Upfront Insurance Fees

This product has no upfront insurance fees

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	Some
Criteria	Only for clients who avail of loan over P30,000 with 10% maintaining balance based on the loan amount.
Is deposit indicated on the repayment schedule?	Yes
Do borrowers control deposit in their group?

Deposit BEFORE or AT Disbursement

% loan amount deposited	10.00% - N/A
or, Fixed-amount deposited	0

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	2.50%
Maximum interest rate paid	2.50%
Interest payment frequency	Weekly

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Additional Comments

The client can withdraw from their compulsory savings but no less than the required maintaining balance based on the loan amount.

Full Pricing Data

Special Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5	Sample 6
Loan Amount	PHP 4,000	PHP 15,000	PHP 20,000	PHP 20,000	PHP 20,000	PHP 25,000
Loan Cycle (1, 2, 3, etc)	1	1	Not Known	1	1	5
Disbursement Date	2011-08-25	2011-08-25	2011-08-25	2011-09-02	2011-09-02	2011-08-25
Loan Term (Months)	6.0 months	12.0 months	12.0 months	12.0 months	12.0 months	12.0 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	85.6%	68.0%	67.2%	71.0%	71.0%	68.0%
Insurance Component	0.0%	4.8%	0.0%	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	0.4%	2.5%	0.0%	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	85.9%	75.3%	67.2%	71.0%	71.0%	68.0%
Transparency Index	35	40	45	42	42	44

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

Special Loan Price Graphs

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Key Statistics
# Samples:
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# 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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