Valiant Rural Bank (Iloilo City), Inc. - BUGANA - MFTransparency.org Truth In Lending Tables

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Institution

Valiant Rural Bank (Iloilo City), Inc. 41-A Mabini StreetIloilo City, Iloilo/Region VI5000

Data approved: 2011-11-15

Data version: 1

Age of data: 160 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (PHP)	PHP 14,342,924
Portfolio (USD)	USD 343,132.15
Active Clients with Loans	914
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	0% - 20%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Micro-Agricultural Product (MAP)

Loan Purpose

Any purpose	x
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education
Group meetings
Credit insurance	x
Workplace visits
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	Farmers with Multiple Sources of Income
Other (2)

# Borrowers by Product

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 3,000
Maximum loan size	150,000

Loan Term and Grace Period

Shortest loan term	2.0 months
Longest loan term	12.0 months
Approx average	6.0 months

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly	x
Every 2 weeks	x
Every 4 weeks
Monthly	x
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	2.75%
Highest quoted nominal interest	2.75%
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 charge
% 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 fees

Upfront Insurance Fees

	Ins 1
Description	Credit Group Life Insurance
% of loan amount - min	0
% of loan amount - max	0
OR, Fixed amount - min	9
Fixed amount - max	1,050
Reason for variation	% Loan Amount: 2 mos =0.3%, 3 mos= 0.4%, 4 mos= 0.5%, 5 mos =0.6%, 6 mos =0.7%
Appears on Repayment Sched?	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?	Yes
Do borrowers control deposit in their group?	Yes

Deposit BEFORE or AT Disbursement

% loan amount deposited	0
or, Fixed-amount deposited	PHP 500

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	0
Conditions on access to deposit	Access During

Interest Paid on Deposit

Minimum interest rate paid	1.00%
Maximum interest rate paid	1.00%
Interest payment frequency	Quarterly

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Additional Comments

Taxes: (.5%)(Loan amount) x Term/12

Full Pricing Data

BUGANA samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5	Sample 6
Loan Amount	PHP 5,000	PHP 8,000	PHP 15,000	PHP 30,000	PHP 50,000	PHP 150,000
Loan Cycle (1, 2, 3, etc)	2	2	2	2	Not Known	2
Disbursement Date	2011-09-05	2011-09-06	2011-09-16	2011-09-22	2011-09-07	2011-09-19
Loan Term (Months)	6.0 months	6.0 months	6.0 months	6.0 months	6.0 months	6.0 months
Grace Period (Months)	0.0 months	0.0 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	Not Known	Not Known
True Price by Comp
Interest and Fee Component	66.9%	66.8%	71.4%	66.8%	66.8%	66.8%
Insurance Component	2.8%	2.8%	2.9%	2.8%	2.8%	2.8%
Tax Component	1.0%	1.0%	1.1%	1.0%	1.0%	1.0%
Deposit Component	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	70.6%	70.6%	75.4%	70.6%	70.6%	70.6%
Transparency Index	47	47	44	47	47	47

Original Repayment Schedule	PDF	PDF	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF	PDF	PDF

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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

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Total Borrrowers of Samples


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