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Institution
Data approved: 2011-11-15
Data version: 1
Age of data: 159 months
Key Statistics
| Outstanding portfolio (PHP) | PHP 21,130,731 |
| Portfolio (USD) | USD 505,519.88 |
| Active Clients with Loans | 4,828 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 20% - 40% |
Methodology
| Individual | |
| Solidarity group | |
| Village banking | x |
| Self help group | |
| Other | Modified Grameen |
Description
An incentive loan given to members with good AR & RR performance which is intended for the acquisition of housing materials for improvement/ repair of an existing house. Loan ranges from P1,000-20,000.
Loan Purpose
| Any purpose | |
| Income generation | |
| Mortgage/housing | x |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | x |
| Other training | x |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| Men | x |
| Women | x |
| Must run a business | x |
| Must own a home or land | x |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Member for > 6 months |
| Other (2) | At least on the 2nd cycle of regular loan |
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 1,000 |
| Maximum loan size | 20,000 |
Loan Term and Grace Period
| Shortest loan term | 5.0 months |
| Longest loan term | 10.0 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 | 2.00% |
| Highest quoted nominal interest | 2.00% |
| 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 | 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 feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Loan Redemption 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 |
Ongoing Insurance Fees
| Ins 1 |
|---|
| Description | Life 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 | 5.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | PHP 10 |
| Conditions on access to deposit | When Leaving |
Interest Paid on Deposit
| Minimum interest rate paid | 4.00% |
| Maximum interest rate paid | 4.00% |
| Interest payment frequency | Quarterly |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
With CBU withdrawability policy where client can withdraw CBU any time.
Full Pricing Data
Balay Asenso samples
| Sample 1 | | Sample 2 | | Sample 3 |
|---|
| Loan Amount | PHP 3,000 | | PHP 7,000 | | PHP 14,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2011-06-29 | | 2011-06-30 | | 2011-06-07 |
| Loan Term (Months) | 4.0 months | | 6.0 months | | 9.0 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 | 71.3% | | 64.1% | | 57.4% |
| Insurance Component | 14.2% | | 9.6% | | 6.4% |
| Tax Component | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 8.6% | | 7.2% | | 6.0% |
| Full APR (int fee ins tax dep) | 94.1% | | 80.9% | | 69.8% |
| Transparency Index | 25 | | 30 | | 34 |
| | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF |
Balay Asenso Price Graphs
