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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 9,589,793 |
| Portfolio (USD) | USD 229,420.89 |
| Active Clients with Loans | 1,171 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 0% - 20% |
Methodology
| Individual | x |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
We are not just providing loans to our members but we also give them loan insurance, basic life insurance system, accident insurance and Mutual Aid to our members
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | x |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| Men | x |
| Women | x |
| Must run a business | x |
| 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 5,000 |
| Maximum loan size | 25,000 |
Loan Term and Grace Period
| Shortest loan term | 3.7 months |
| Longest loan term | 12.1 months |
| Approx average | 6.0 months |
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 | 2.00% |
| Highest quoted nominal interest | 2.50% |
| Reason(s) why interest rate varies | Branch, Client Risk, Additional Services |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | Yes |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 | | Fee 2 |
|---|
| Description | Service Fee | | Filing Fee/Notarial Fee |
| % of loan amount - min | 4.00% | | 0 |
| % of loan amount - max | 6.00% | | 0 |
| OR, Fixed amount - min | 0 | | 130 |
| Fixed amount - max | 0 | | 130 |
| Reason for variation | | | N/A |
| Appears on Repayment Sched? | Yes | | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 | | Ins 2 |
|---|
| Description | Basic Life Insurance (annual fee) | | Loan Insurance |
| % of loan amount - min | 0 | | 1.13% |
| % of loan amount - max | 0 | | 1.13% |
| OR, Fixed amount - min | 182.50 | | 0 |
| Fixed amount - max | 182.50 | | 0 |
| Reason for variation | N/A | | N/A |
| Appears on Repayment Sched? | Yes | | Yes |
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? | Yes |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 3.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | PHP 20 |
| Conditions on access to deposit | Access During |
Interest Paid on Deposit
| Minimum interest rate paid | 4.50% |
| Maximum interest rate paid | 4.50% |
| Interest payment frequency | Quarterly |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Interest on savings is paid quarterly. Mortuary Fund and Basic Life Insurance are annual fees. P1 CBU is required on the first loan cycle. For weekly deposits, on first cycle, P1 savings and P1 for CBU. For each succeeding loan cycle, an additional P5. If there is no withdrawal, there is no maintaining balance. If with withdrawals, maintaining balance amount will vary based on loan amount.
Full Pricing Data
Cycle Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | PHP 10,000 | | PHP 15,000 | | PHP 20,000 | | PHP 25,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | 1 | | Not Known |
| Disbursement Date | 2011-09-26 | | 2011-09-30 | | 2011-09-30 | | 2011-09-27 |
| Loan Term (Months) | 6.1 months | | 12.1 months | | 6.1 months | | 6.1 months |
| Grace Period (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 |
| True Price by Comp | | | | | | | |
| Interest and Fee Component | 86.0% | | 70.9% | | 86.0% | | 85.4% |
| Insurance Component | 2.9% | | 6.2% | | 7.1% | | 10.9% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 9.4% | | 24.7% | | 17.6% | | 19.3% |
| Full APR (int fee ins tax dep) | 98.2% | | 101.8% | | 110.6% | | 115.6% |
| Transparency Index | 24 | | 24 | | 22 | | 21 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
