Paglaum Multi Purpose Cooperative - Pension Loan - MFTransparency.org Truth In Lending Tables

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Institution

Paglaum Multi Purpose Cooperative 2F PMPC Bldg., Eastern LoocPlaridel, Misamis Occidental7209

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 33,313,118
Portfolio (USD)	USD 796,964.55
Active Clients with Loans	2,073
Approximate % Female Clients	40% - 60%
Approximate % Urban Clients	0% - 20%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

To provide financial assistance to all qualified pensioners.

Loan Purpose

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

Included Services

Credit education	x
Group meetings
Credit insurance	x
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	Must be pension holder
Other (2)	Must be <80 years

# 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 10,000
Maximum loan size	100,000

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	24.0 months
Approx average	0

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly
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	3.00%
Highest quoted nominal interest	3.00%
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 fees

Upfront 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	PHP 26
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

Are taxes charged on this product?

Full Pricing Data

Pension Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	PHP 13,000	PHP 20,000	PHP 65,000	PHP 100,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2011-07-05	2010-08-13	2011-05-18	2010-07-05
Loan Term (Months)	24.0 months	12.0 months	24.0 months	24.0 months
Grace Period (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
True Price by Comp
Interest and Fee Component	64.5%	70.8%	64.1%	61.6%
Insurance Component	4.7%	5.4%	2.5%	2.2%
Tax Component	0.0%	0.0%	0.0%	0.0%
Deposit Component	8.0%	9.3%	7.2%	6.3%
Full APR (int fee ins tax dep)	77.1%	85.5%	73.9%	70.1%
Transparency Index	47	42	49	51

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

Pension 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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