Rural Bank of Montevista (Davao), Inc. - PCFC - MFTransparency.org Truth In Lending Tables

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Institution

Rural Bank of Montevista (Davao), Inc. Sobrecary St.Tagum City, Davao del Norte/Region XI8100

Data approved: 2011-11-15

Data version: 1

Age of data: 160 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (PHP)	PHP 33,803,696
Portfolio (USD)	USD 808,700.86
Active Clients with Loans	5,558
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	20% - 40%

Methodology

Individual	x
Solidarity group	x
Village banking
Self help group
Other

Description

Micro groupings and individual loan

Loan Purpose

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

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)

# 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 3,000
Maximum loan size	50,000

Loan Term and Grace Period

Shortest loan term	3.0 months
Longest loan term	12.0 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	1.50%
Highest quoted nominal interest	2.50%
Reason(s) why interest rate varies	N/A
Interest rate period	Monthly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	Yes
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Bank Charge
% of loan amount - min	7.25%
% of loan amount - max	7.25%
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	Cash Death Assistance	Credit Insurance
% of loan amount - min	0.50%	0.50%
% of loan amount - max	1.40%	1.40%
OR, Fixed amount - min	0	0
Fixed amount - max	0	0
Reason for variation	N/A	N/A
Appears on Repayment Sched?	No	Yes

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?	Yes
Do borrowers control deposit in their group?

Deposit BEFORE or AT Disbursement

% loan amount deposited	5.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0.38%
or, Fixed-amount deposited	0
Conditions on access to deposit	End Term

Interest Paid on Deposit

Minimum interest rate paid	2.00%
Maximum interest rate paid	2.00%
Interest payment frequency	End Term

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

PCFC samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	PHP 3,000	PHP 8,000	PHP 15,000	PHP 30,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2011-07-30	2011-06-17	2011-06-16	2011-06-13
Loan Term (Months)	6.0 months	6.0 months	8.0 months	10.0 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	125.3%	93.7%	82.8%	64.2%
Insurance Component	23.7%	12.5%	11.3%	9.5%
Tax Component	11.5%	7.6%	6.5%	5.8%
Deposit Component	29.8%	48.9%	36.1%	72.8%
Full APR (int fee ins tax dep)	190.3%	162.7%	136.8%	152.3%
Transparency Index	9	11	13	12

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

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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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