Please note that the information you are viewing is
160 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2011-11-15
Data version: 1
Age of data: 160 months
Key Statistics
| Outstanding portfolio (PHP) | PHP 60,821,762.73 |
| Portfolio (USD) | USD 1,455,066.09 |
| Active Clients with Loans | 2,402 |
| Approximate % Female Clients | 0% - 20% |
| Approximate % Urban Clients | 0% - 20% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
This program is intended to finance the production requirements of rice farming and offers micro-loans to qualified farmer groups with mutual group guarantee.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | x |
| Education | |
| Other household finance | |
| Other | Rice Farmers |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | x |
| 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 | Land tenants with at least 5 years of farming experience |
| Other (2) | Has access to irrigation |
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 20,000 |
| Maximum loan size | 35,000 |
Loan Term and Grace Period
| Shortest loan term | 3.0 months |
| Longest loan term | 5.0 months |
| Approx average | 4.0 months |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0 |
Repayment Frequency
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | x |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 3.00% |
| Highest quoted nominal interest | 3.00% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
This product has no upfront feesOngoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 | | Ins 2 |
|---|
| Description | PCIC Crop Insurance | | Credit-Life Insurance |
| % of loan amount - min | 1.11% | | 2.50% |
| % of loan amount - max | 7.78% | | 2.50% |
| OR, Fixed amount - min | 0 | | 0 |
| Fixed amount - max | 0 | | 0 |
| Reason for variation | N/A | | N/A |
| Appears on Repayment Sched? | No | | No |
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? | |
| 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 200 |
| Conditions on access to deposit | When Leaving |
Interest Paid on Deposit
| Minimum interest rate paid | 5.00% |
| Maximum interest rate paid | 5.00% |
| Interest payment frequency | Monthly |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
There is another mandatory life insurance at P24 per annum. Loan terms are determined based on cropping schedule. Payments are due 5 days after harvest. Interest is computed .1% per day
Full Pricing Data
TSPI Palayan Program samples
| Sample 1 | | Sample 2 | | Sample 3 |
|---|
| Loan Amount | PHP 30,000 | | PHP 30,000 | | PHP 30,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2010-12-07 | | 2010-11-18 | | 2010-12-08 |
| Loan Term (Months) | 5.0 months | | 5.0 months | | 5.0 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 | 26.6% | | 32.1% | | 27.9% |
| Insurance Component | 13.7% | | 13.8% | | 13.7% |
| Tax Component | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 2.4% | | 2.7% | | 2.4% |
| Full APR (int fee ins tax dep) | 42.7% | | 48.5% | | 44.1% |
| Transparency Index | 84 | | 74 | | 82 |
| | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF |
TSPI Palayan Program Price Graphs
