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Institution
Data approved: 2011-11-15
Data version: 1
Age of data: 158 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
