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Transparent Pricing In Philippines

Please note that MFTransparency is no longer collecting new pricing data. The data displayed for this country is for historical purposes only and does not represent current products or prices in the country. Note that the age of the information for each MFI is indicated in the table below.

The Transparent Pricing Initiative in the Philippines has published standardized pricing data from 43 microfinance providers, representing USD $351 Million in loan portfolio and 2.2 million active borrowers, whom over 80% are women. Launched in 2011 the Initiative is funded by MicroNed. 

Microfinance in Philippines
The microfinance market in the Philippines is one of the largest and oldest microfinance markets in Asia. Fuelled by the success of mobile banking and favourable government policies, the sector has shown tremendous growth both in terms of outreach and financial performance. Institutions providing microfinance services include commercial banks, non-bank financial institutions, cooperatives, rural banks, credit unions, pawn shops and NGO-MFIs. Assisted by the presence of a large number of microfinance institutions, the sector provides a diverse  range of microfinance products.

Truth-in-Lending Legislation

The majority of banks, non-bank financial institutions and rural banks are included in the supervisory framework of the Central Bank of the Philippines. Cooperative societies are overseen by the Cooperative Development Authority. However, a significant part of the Philippines microfinance market consists of NGO MFIs, pawn shops and credit unions who are not included in the formal regulatory oversight. The Philippines has a long standing Truth in Lending Act No. 3765 issued in 1963. This Act has been strengthened by the issuance of the Microfinance Consumer Protection Guidebook of 2007.

Following the success of the Transparent Pricing Initiative in the Philippines, the Central Bank has updated the truth-in-lending act with the issuance of Circular No. 730. The Circular aims to promote responsible finance and consumer protection. It specifies requirements for pricing disclosure and reporting, and mandates the use of declining balance as the interest computation method. It requires interest rates to be communicated using Effective Interest Rate (EIR) terms. It is expected that the diverse nature of the Philippines microfinance providers may pose a challenge in the tracking and enforcement of activities related to consumer protection and responsible practices.

Philippines Price Graph

The price graph presented below shows the prices of all the microloan products in the Philippines dataset. Each data-point represents a real loan given to a real borrower, calculated using original loan documentation from the institution. The color of the data-point correlates with the Transparency Index of the sample. The interactive legend beneath the graph can be used to change the graph axis and labels. Try the custom feature to see price correlations with attributes such as loan purpose, institution type, loan term and percent of gross national income.

This trend effectively sheds light on the common misconception that certain type of institution charges higher prices than others. The use of flat interest rate was highly prevalent among the products analysed. The minimum and maximum prices noted using the Annual Percentage Rate (interest+fees+Insurance+tax) formula was 17% and 81% respectively.  The dataset also revealed that business loan products and urban loans were on the average the highest priced, however the relative size of the loans must be taken into account when considering these trends.

Philippines Institutions

Institution# BorrowersPortfolio (US$)ProductsTransp. IndexParticipating SinceAge of Data
1st Valley Bank38,90048,291,0003382011-Nov79 mos.
AJDFI13,100884,0006312011-Nov79 mos.
ARDCI44,6009,403,0001382011-Nov79 mos.
ASA Philippines333,40029,282,0001472011-Nov79 mos.
ASHI35,4005,231,0006362011-Nov79 mos.
ASKI60,00015,247,0004352011-Nov79 mos.
Bangko Kabayan8,9002,373,0002412011-Nov79 mos.
BSEI60073,0002312011-Nov79 mos.
CBI8,1002,010,0005312011-Nov79 mos.
CCT70,3009,504,0004292011-Nov79 mos.
CEV35,4005,111,0004292011-Nov79 mos.
DSPI59,3003,676,0003292011-Nov79 mos.
ECLOF5,4001,836,0004672011-Nov79 mos.
FCB12,0002,392,0002302011-Nov79 mos.
FMB2,700710,0002252011-Nov79 mos.
GM Bank23,5001,553,0003242011-Nov79 mos.
HSPFI19,1001,899,0002282011-Nov79 mos.
JVOFI1,300281,0001282011-Nov79 mos.
Katipunan Bank42,1005,325,0002262011-Nov79 mos.
KDCI20,5002,095,0003372011-Nov79 mos.
KGI32,3003,421,0004412011-Nov79 mos.
KMBI245,00015,098,0001342011-Nov79 mos.
LTMPC37,4008,935,0003562011-Nov79 mos.
Mallig Plains6,500641,0002282011-Nov79 mos.
MILAMDEC29,8003,278,0002192011-Nov79 mos.
MWIMPC11,8001,740,0004362011-Dec78 mos.
NWTF105,50012,698,0005282011-Nov79 mos.
OFMPC4,400964,0001352011-Nov79 mos.
PBC50,70010,434,0004442011-Nov79 mos.
PCSD700167,0001222011-Nov79 mos.
PMPC23,5005,565,0008382011-Nov79 mos.
RB Angeles9001,502,0002382011-Nov79 mos.
RB Labason500289,0001392011-Nov79 mos.
RBLI5,2001,026,0002272011-Nov79 mos.
RBMI11,9001,750,0002122011-Nov79 mos.
RMB100173,0001322011-Nov79 mos.
RSPI39,6002,834,0004332011-Nov79 mos.
SAFRAGEMC1,100229,0001232011-Nov79 mos.
Salve10,9001,191,0003362011-Nov79 mos.
SEDP27,0003,914,0003262011-Nov79 mos.
TSKI212,90025,187,0002362011-Nov79 mos.
TSPI264,50031,290,0007422011-Nov79 mos.
Valient1,700672,0002432011-Nov79 mos.
Caps / Zoom options
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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
X Axis
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N (# of Samples)
Total Borrrowers of Samples
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Total Borrowers of Samples

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