| Number borrowers | 1,171 |
| Loan Amount (range) | PHP 5,000 - 25,000 |
| Loan Term (range) | 3.7 - 12.1 |
| Other Services (text summary) | Credit Educ, Group Mtgs, Credit Ins, Business Training |
| Annual Interest & Method | 24.0%-30.0% annual, Flat |
| Fees | 4.00%-6.00% upfront 130.00 upfront |
| Insurance | 182.50 upfront 1.13% upfront |
| Tax | None |
| Comp Dep | 3.0% upfront 20.00 ongoing |
| Range of pricing | |
| Interest Price Component | N/A |
| Fee Component | 70.9% - 86.0% (Int+Fee) |
| Insurance Component | 2.9% - 10.9% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 98.2% - 115.6% |
| Transparency Index (min/max) | 21 - 24 |
| Transparency Index (average) | 22 |
| 540,000 |
| INR 12,000 - 18,000 |
| 18 - 24 |
| Credit Educ, Group Mtgs, Credit Ins |
| 25.5% annual, Decl Bal |
| 1.00% upfront |
| 1.46% upfront |
| 12.36% fees |
| N/A |
| 24.4% - 25.4% |
| 1.0% - 2.1% |
| 1.5% - 2.2% |
| 0.1% - 0.3% |
| 27.7% - 29.1% |
| 87 - 92 |
| 90 |
| Outstanding portfolio (PHP) | PHP 9,589,793 |
| Portfolio (USD) | USD 229,420.89 |
| Active Clients with Loans | 1,171 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | x |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | x |
| 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) |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Outstanding portfolio (INR) | INR 5,710,000,000 |
| Portfolio (USD) | USD 107,735,849.10 |
| Active Clients with Loans | 540,000 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 80% - 100% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Household income <60,000 INR | x |
| Household income <120,000 INR | x |
| Must live in rural area | |
| Must lives in urban area | |
| Other | |
| Other (2) |
| # Regions for this institution | 2 |
| # Regions for this product | 5 |
| Regions Active | Gujarat, Madhya Pradesh, Rajasthan, Tamil Nadu, Puducherry |
| Currency | PHP |
| Minimum loan size | PHP 5,000 |
| Maximum loan size | 25,000 |
| Shortest loan term | 3.7 months |
| Longest loan term | 12.1 months |
| Approx average | 6.0 months |
| Grace period usage | 0 |
| Average grace period | 0 |
| 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 |
| Currency | INR |
| Minimum loan size | INR 12,000 |
| Maximum loan size | 18,000 |
| Loans less than INR 5,000 | 0 |
| INR 5,000-15,000 | 50% |
| INR 15,000-25,000 | 50% |
| INR 25,000-35,000 | 0 |
| INR 35,000-45,000 | 0 |
| Greater than INR 45,000 | 0 |
| Shortest loan term | 18.0 months |
| Longest loan term | 24.0 months |
| Approx average | 24.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 10% |
| Longer than 18 months | 90% |
| Grace period usage | 100% |
| Average grace period | DK |
| Daily | |
| Weekly | x |
| Every 2 weeks | x |
| Every 4 weeks | x |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 2.00% |
| Highest quoted nominal interest | 2.50% |
| Reason(s) why interest rate varies | Branch, Client Risk, Additional Services |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | Yes |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Service Fee | Filing Fee/Notarial Fee | |
| % of loan amount - min | 4.00% | 0 | |
| % of loan amount - max | 6.00% | 0 | |
| OR, Fixed amount - min | 0 | 130 | |
| Fixed amount - max | 0 | 130 | |
| Reason for variation | N/A | ||
| Appears on Repayment Sched? | Yes | Yes |
| Ins 1 | Ins 2 | ||
|---|---|---|---|
| Description | Basic Life Insurance (annual fee) | Loan Insurance | |
| % of loan amount - min | 0 | 1.13% | |
| % of loan amount - max | 0 | 1.13% | |
| OR, Fixed amount - min | 182.50 | 0 | |
| Fixed amount - max | 182.50 | 0 | |
| Reason for variation | N/A | N/A | |
| Appears on Repayment Sched? | Yes | Yes |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 3.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | PHP 20 |
| Conditions on access to deposit | Access During |
| Minimum interest rate paid | 4.50% |
| Maximum interest rate paid | 4.50% |
| Interest payment frequency | Quarterly |
| Are taxes charged on this product? | No |
| Lowest quoted nominal interest | 25.50% |
| Highest quoted nominal interest | 25.50% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Term Life Insurance |
| % of loan amount - min | 1.46% |
| % of loan amount - max | 1.46% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | Yes |
| Percentage of fees | 12.4% |
| All or some fees taxed | Some |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | PHP 10,000 | PHP 15,000 | PHP 20,000 | PHP 25,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | 1 | Not Known | |||
| Disbursement Date | 2011-09-26 | 2011-09-30 | 2011-09-30 | 2011-09-27 | |||
| Loan Term (Months) | 6.1 months | 12.1 months | 6.1 months | 6.1 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 | 86.0% | 70.9% | 86.0% | 85.4% | |||
| Insurance Component | 2.9% | 6.2% | 7.1% | 10.9% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 9.4% | 24.7% | 17.6% | 19.3% | |||
| Full APR (int fee ins tax dep) | 98.2% | 101.8% | 110.6% | 115.6% | |||
| Transparency Index | 24 | 24 | 22 | 21 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 15,000 | INR 14,000 | INR 15,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-02-28 | 2013-02-28 | 2013-02-28 | ||
| Loan Term (Months) | 24.0 months | 17.0 months | 24.0 months | ||
| Grace Period (Months) | 0.2 months | 0.0 months | 0.1 months | ||
| Total Cost of Credit | INR 4,587.54 | INR 3,073.30 | INR 4,601 | ||
| True Price by Comp | |||||
| Interest price component | 24.9% | 25.3% | 25.0% | ||
| Fee Component | 1.1% | 1.4% | 1.0% | ||
| Insurance Component | 1.6% | 2.2% | 1.6% | ||
| Tax Component | 0.1% | 0.2% | 0.1% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 27.7% | 29.1% | 27.7% | ||
| MFIN MFI Earning (Annualised) | 26.0% | 26.7% | 26.0% | ||
| MFIN Cost to Borrower (Annualised) | 27.7% | 29.1% | 27.7% | ||
| Transparency Index | 92 | 88 | 92 | ||
| MFIN Transparency Index | 100 | 100 | 100 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
|---|---|---|---|---|---|---|---|
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