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160 months old and may not represent the prices currently charged.
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Institution
Data approved: 2011-11-15
Data version: 1
Age of data: 160 months
Key Statistics
| Outstanding portfolio (PHP) | PHP 710,253.15 |
| Portfolio (USD) | USD 16,991.70 |
| Active Clients with Loans | 589 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 0% - 20% |
Methodology
| Individual | |
| Solidarity group | |
| Village banking | x |
| Self help group | |
| Other | |
Description
It is used for hospitalization needs of the members. The maximum loan amount is P 2,000.00 and payable within 13 weeks, the ML maybe renewed anytime at the discretion of the borrower.
Loan Purpose
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | x |
| Other | Open to all regular and PDP members who are MIGS i |
| Other (2) | < 60 years |
Included Services
| Credit education | |
| Group meetings | x |
| Credit insurance | |
| 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 | |
| Other (2) | |
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 500 |
| Maximum loan size | 2,000 |
Loan Term and Grace Period
| Shortest loan term | 3.0 months |
| Longest loan term | 6.0 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 | 2.50% |
| Highest quoted nominal interest | 2.50% |
| 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 | | Fee 2 |
|---|
| Description | Service Fee | | Notarial Fee |
| % of loan amount - min | 4.00% | | 0 |
| % of loan amount - max | 4.00% | | 0 |
| OR, Fixed amount - min | 0 | | 100 |
| Fixed amount - max | 0 | | 100 |
| Reason for variation | | | N/A |
| Appears on Repayment Sched? | No | | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Credit Insurance |
| % of loan amount - min | 1.50% |
| % of loan amount - max | 1.50% |
| 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 | MBA, Life and Retirement 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 | 6.50% |
| or, Fixed-amount deposited | 0 |
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 | 3.00% |
| Maximum interest rate paid | 3.00% |
| Interest payment frequency | Annually |
Taxes
| Are taxes charged on this product? | No |
Full Pricing Data
Emergency Loan samples
| Sample 1 | | Sample 2 | | Sample 3 |
|---|
| Loan Amount | PHP 2,000 | | PHP 2,000 | | PHP 2,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2011-05-24 | | 2011-05-23 | | 2011-05-23 |
| Loan Term (Months) | 3.0 months | | 3.0 months | | 3.0 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 | 76.0% | | 78.7% | | 81.7% |
| Insurance Component | 74.3% | | 78.8% | | 83.9% |
| Tax Component | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 23.6% | | 26.2% | | 29.2% |
| Full APR (int fee ins tax dep) | 174.0% | | 183.7% | | 194.8% |
| Transparency Index | 17 | | 16 | | 15 |
| | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF |
Emergency Loan Price Graphs
