Rangtay sa Pagrang-ay, Inc. - Salary Loan - MFTransparency.org Truth In Lending Tables

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Institution

Rangtay sa Pagrang-ay, Inc. 4th Floor Manongdo Bldg.17 Private Road, Magsaysay Ave.Baguio City2600

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 1,865,075.22
Portfolio (USD)	USD 44,619.02
Active Clients with Loans	139
Approximate % Female Clients	40% - 60%
Approximate % Urban Clients	0% - 20%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

For regular employees as well as those who are paid on honorarium basis

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	x
Must be specific age group
Other	Barangay Officials
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 10,000
Maximum loan size	40,000

Loan Term and Grace Period

Shortest loan term	3.0 months
Longest loan term	12.0 months
Approx average	6.0 months

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly	x
Every 2 weeks	x
Every 4 weeks
Monthly	x
Every 2 months
Quarterly	x
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
Description	Loan Service Fee
% of loan amount - min	3.00%
% of loan amount - max	3.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1	Ins 2
Description	Life Insurance	Loan Redemption Fee
% of loan amount - min	0	2.00%
% of loan amount - max	0	2.00%
OR, Fixed amount - min	240	0
Fixed amount - max	240	0
Reason for variation	N/A	N/A
Appears on Repayment Sched?	No	No

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	Never
Criteria	N/A
Is deposit indicated on the repayment schedule?	N/A
Do borrowers control deposit in their group?	N/A

Deposit BEFORE or AT Disbursement

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

Deposits DURING period payments

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A
Conditions on access to deposit	N/A

Interest Paid on Deposit

Minimum interest rate paid	N/A
Maximum interest rate paid	N/A
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Salary Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	PHP 15,000	PHP 15,000	PHP 28,000	PHP 30,000
Loan Cycle (1, 2, 3, etc)	1	1	2	6
Disbursement Date	2011-02-04	2011-02-04	2011-02-18	2011-03-10
Loan Term (Months)	12.0 months	12.0 months	12.0 months	6.0 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	66.7%	66.7%	66.7%	68.4%
Insurance Component	8.2%	8.2%	6.5%	10.9%
Tax Component	0.0%	0.0%	0.0%	0.0%
Deposit Component	0.0%	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	74.9%	74.9%	73.2%	79.3%
Transparency Index	48	48	49	45

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

Salary 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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By Country

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