| Outstanding portfolio (TZS) | TZS 2,695,147,796 |
| Portfolio (USD) | USD 1,695,061.51 |
| Active Clients with Loans | 882.70 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | x |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | x |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | x |
| Business training | x |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| 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 | Must run agricultural activities or business |
| Other (2) |
| # Regions for this institution | 1 |
| # Regions for this product | 1 |
| Regions Active | Ruvuma |
| Currency | TZS |
| Minimum loan size | TZS 500,000 |
| Maximum loan size | 3,500,000 |
| Loans less than TZS 350,000 | 0 |
| TZS 350,000-1,250,000 | 40% |
| TZS 1,250,000-2,000,000 | 20% |
| TZS 2,000,000-3,000,000 | 20% |
| TZS 3,000,000-4,000,000 | 20% |
| Greater than TZS 4,000,000 | 20% |
| Shortest loan term | 1.0 month |
| Longest loan term | 12.0 months |
| Approx average | 6.0 months |
| Loans 3 months or less | 40% |
| Between 4 and 6 months | 20% |
| Between 7 and 9 months | 30% |
| Between 10 and 12 months | 10% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 10.00% |
| Highest quoted nominal interest | 30.00% |
| Reason(s) why interest rate varies | Loan Purpose, Agricultural loan interest is 10% p.a. Business loan interest is 30% p.a |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Loan Application Fee | Legal Set Up Fee | |
| % of loan amount - min | 1.50% | 2.00% | |
| % of loan amount - max | 1.50% | 2.00% | |
| OR, Fixed amount - min | 0 | 0 | |
| Fixed amount - max | 0 | 0 | |
| Reason for variation | N/A | N/A | |
| Appears on Repayment Sched? | No | Yes |
| Ins 1 | |
|---|---|
| Description | Loan insurance |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 2.50% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Loan term of 1-6months is 1%. Loans above 6-12months 2.5% rate may apply. |
| Appears on Repayment Sched? | No |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 30.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | TZS 10,000 |
| Conditions on access to deposit | Access During |
| Minimum interest rate paid | 3.50% |
| Maximum interest rate paid | 3.50% |
| Interest payment frequency | End Term |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | TZS 450,000 | TZS 1,075,000 | TZS 2,000,000 | TZS 3,000,000 | |||
| Loan Cycle (1, 2, 3, etc) | 1 | 1 | 1 | 1 | |||
| Disbursement Date | 2013-01-09 | 2013-02-08 | 2013-02-23 | 2013-01-09 | |||
| Loan Term (Months) | 11.0 months | 5.0 months | 11.0 months | 11.0 months | |||
| Grace Period (Months) | 10.1 months | -1.0 months | -1.0 months | 10.1 months | |||
| Total Cost of Credit | TZS 62,000 | TZS 220,375.02 | TZS 696,666.60 | TZS 413,330 | |||
| True Price by Comp | |||||||
| Interest price component | 10.1% | 75.8% | 61.8% | 10.1% | |||
| Fee Component | 4.1% | 19.1% | 8.9% | 4.1% | |||
| Insurance Component | 1.2% | 5.6% | 2.6% | 1.2% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 12.1% | 142.4% | 82.4% | 7.5% | |||
| Full APR (int fee ins tax dep) | 27.5% | 242.9% | 155.7% | 22.9% | |||
| Transparency Index | 36 | 4 | 6 | 44 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Institution Type | RurBank |
| Is this institution regulated? | Yes |
| Website address | N/A |
| Year established | 1979 |
| Head of Institution | PANCRASIO D. AJERO |
| Regions active | |
| # Branches | 5 |
| Total Portfolio (nat'l) | PhP 43,039,358 |
| Total Portfolio (USD) | USD 1,029,649.71 |
| Active clients with loans | 5,290 |
| Approximate % female clients | 60% - 80% |
| Approximate % urban clients | 0% - 20% |
| Network affiliations | Microenterprise Access to Banking Services (MABS), Mindanao Microfinance Council (MMC), Rural Bankers Association of the Philippines (RBAP), Zamboanga del Norte Federation of Rural Banks |
| Funders | Bank of the Philippine Islands (BPI), Landbank of the Philippines (LBP), People's Credit and Finance Corporation (PCFC) |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PMPK-GRASA Program | PHP 2,000 - 50,000 | 3 - 12 | 60% - 80% | 0% - 20% | Business | Women, Men, Have business, Specific age group, 2 years resident in area, Must pass Means Test | Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training | |||||||
| SIPAG (Sinugdanan sa Paglambo) Loan | PHP 5,000 - 150,000 | 3 - 12 | 60% - 80% | 20% - 40% | Business | Women, Men, Have business, Specific age group, Has 2 valid IDs, Barangay Clearance, DTI , 2 years resident in area | Credit Ins, Tech Asst Visits, Business Training, Seminar on Livelihoods |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PMPK-GRASA Program | 30.0% annual, Flat | 1 Fee | 1 Ins | 1.00% loan amt | 50.00 ongoing | 82.9% - 83% | 93.2% - 165.2% | 26 | ||||||||
| SIPAG (Sinugdanan sa Paglambo) Loan | 30.0% annual, Flat | 1 Fee | 2 Ins | None | 5.0% upfront 0.02% ongoing | 78.1% - 78.2% | 97% - 113% | 29 |
| Key Statistics | |
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| % Products with one or more insurances | |
| % Products with compulsory deposits |
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