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Institution
Data approved: 2011-11-15
Data version: 1
Age of data: 156 months
Key Statistics
Outstanding portfolio (PHP) | PHP 710,253.15 |
Portfolio (USD) | USD 16,991.70 |
Active Clients with Loans | 589 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 0% - 20% |
Methodology
Individual | |
Solidarity group | |
Village banking | x |
Self help group | |
Other | |
Description
It is used for hospitalization needs of the members. The maximum loan amount is P 2,000.00 and payable within 13 weeks, the ML maybe renewed anytime at the discretion of the borrower.
Loan Purpose
Any purpose | |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | x |
Other | Open to all regular and PDP members who are MIGS i |
Other (2) | < 60 years |
Included Services
Credit education | |
Group meetings | x |
Credit insurance | |
Workplace visits | |
Business training | |
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 | |
Other | |
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 500 |
Maximum loan size | 2,000 |
Loan Term and Grace Period
Shortest loan term | 3.0 months |
Longest loan term | 6.0 months |
Approx average | 0 |
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
| Fee 1 | | Fee 2 |
---|
Description | Service Fee | | Notarial Fee |
% of loan amount - min | 4.00% | | 0 |
% of loan amount - max | 4.00% | | 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 feesUpfront Insurance Fees
| Ins 1 |
---|
Description | Credit Insurance |
% of loan amount - min | 1.50% |
% of loan amount - max | 1.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Ongoing Insurance Fees
| Ins 1 |
---|
Description | MBA, Life and Retirement Insurance |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 20 |
Fixed amount - max | 20 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
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 | 6.50% |
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 | 3.00% |
Maximum interest rate paid | 3.00% |
Interest payment frequency | Annually |
Taxes
Are taxes charged on this product? | No |
Full Pricing Data
Emergency Loan samples
| Sample 1 | | Sample 2 | | Sample 3 |
---|
Loan Amount | PHP 2,000 | | PHP 2,000 | | PHP 2,000 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
Disbursement Date | 2011-05-24 | | 2011-05-23 | | 2011-05-23 |
Loan Term (Months) | 3.0 months | | 3.0 months | | 3.0 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 | 76.0% | | 78.7% | | 81.7% |
Insurance Component | 74.3% | | 78.8% | | 83.9% |
Tax Component | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 23.6% | | 26.2% | | 29.2% |
Full APR (int fee ins tax dep) | 174.0% | | 183.7% | | 194.8% |
Transparency Index | 17 | | 16 | | 15 |
| | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF |
Emergency Loan Price Graphs