| Institution Type | Credit Union / Cooperative |
| Is this institution regulated? | Yes |
| Website address | http://www.safragemc.com/ |
| Year established | 1989 |
| Head of Institution | Federico A. Blanco |
| Regions active | |
| # Branches | 7 |
| Total Portfolio (nat'l) | PhP 17,991,734.28 |
| Total Portfolio (USD) | USD 430,424.27 |
| Active clients with loans | 3,306 |
| Approximate % female clients | 80% - 100% |
| Approximate % urban clients | 20% - 40% |
| Network affiliations | MASSPECC, NATCCO, Oikocredit |
| Funders | Metro South Cooperative Bank, Land Bank of the Philippines, MASSPECC, SEEDFinance |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cycle Loan | PHP 5,000 - 25,000 | 3.7 - 12.1 | 80% - 100% | 0% - 20% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Business Training |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cycle Loan | 24.0%-30.0% annual, Flat | 2 Fees | 2 Ins | None | 3.0% upfront 20.00 ongoing | 70.9% - 86% | 98.2% - 115.6% | 22 |
| Outstanding portfolio (INR) | INR 73,971,417 |
| Portfolio (USD) | USD 1,395,687.11 |
| Active Clients with Loans | 8,014 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | |
| Solidarity group | |
| Village banking | |
| Self help group | x |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | x |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | x |
| Other | |
| Other (2) | |
| No other services |
| Men | |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Household income <60,000 INR | |
| Household income <120,000 INR | |
| Must live in rural area | |
| Must lives in urban area | |
| Other | |
| Other (2) |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | INR |
| Minimum loan size | INR 3,000 |
| Maximum loan size | 25,000 |
| Shortest loan term | 6.0 months |
| Longest loan term | 15.0 months |
| Approx average | 6.0 months |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | x |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 12.50% |
| Highest quoted nominal interest | 12.50% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Ins 1 | |
|---|---|
| Description | Insurance 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? | No |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | INR 50 |
| Conditions on access to deposit | When Leaving |
| Minimum interest rate paid | 6.00% |
| Maximum interest rate paid | 6.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 5,000 | INR 10,000 | INR 20,000 | ||
| Loan Cycle (1, 2, 3, etc) | 1 | 1 | 2 | ||
| Disbursement Date | 2010-04-15 | 2010-05-15 | 2010-05-15 | ||
| Loan Term (Months) | 15.0 months | 15.0 months | 15.0 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 | 21.6% | 21.5% | 21.6% | ||
| Insurance Component | 1.4% | 1.4% | 1.4% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 5.8% | 4.3% | 3.7% | ||
| Full APR (int fee ins tax dep) | 28.7% | 27.3% | 26.6% | ||
| MFIN MFI Earning (Annualised) | 21.6% | 21.5% | 21.6% | ||
| MFIN Cost to Borrower (Annualised) | 28.7% | 27.3% | 26.6% | ||
| Transparency Index | 44 | 46 | 47 | ||
| MFIN Transparency Index | N/A | N/A | N/A | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
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| # 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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