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Institution
Data approved: 2011-11-15
Data version: 1
Age of data: 159 months
Key Statistics
| Outstanding portfolio (PHP) | PHP 2,112,654 |
| Portfolio (USD) | USD 50,541.96 |
| Active Clients with Loans | 722 |
| 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 used as additional capital for member's enterprise, with a maximum loan amount of P10,000.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| 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 | |
| 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 | 10,000 |
Loan Term and Grace Period
| Shortest loan term | 5.0 months |
| Longest loan term | 5.0 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 | Access During |
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
CBU can be withdrawn, provided certain conditions are met (for business or emergency use, 25% of loan balance is maintained). Posting of interest on CBU is semi-annually (June and December) Life insurance and savings is collected only once per member, regardless of how many loans they have.
Full Pricing Data
Sagip Asenso samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | PHP 3,000 | | PHP 3,000 | | PHP 7,000 | | PHP 7,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2011-07-14 | | 2011-06-07 | | 2011-06-01 | | 2011-06-01 |
| Loan Term (Months) | 4.0 months | | 5.0 months | | 5.0 months | | 5.0 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 | 72.7% | | 65.0% | | 65.0% | | 64.1% |
| Insurance Component | 14.5% | | 11.1% | | 11.1% | | 10.9% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 8.8% | | 7.4% | | 7.4% | | 7.2% |
| Full APR (int fee ins tax dep) | 96.0% | | 83.5% | | 83.5% | | 82.2% |
| Transparency Index | 25 | | 29 | | 29 | | 29 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
Sagip Asenso Price Graphs
