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151 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: 151 months
Key Statistics
| Outstanding portfolio (PHP) | PHP 25,000,000 |
| Portfolio (USD) | USD 598,086.12 |
| Active Clients with Loans | 1,500 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 60% - 80% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
Individual micro-enterprise loan
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | |
| Group meetings | |
| 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 | 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 | 150,000 |
Loan Term and Grace Period
| Shortest loan term | 1.0 month |
| Longest loan term | 6.0 months |
| Approx average | 4.0 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 | 3.00% |
| Reason(s) why interest rate varies | Randomly selected by the bank's system |
| 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 | Bank Charge | | Processing Fee |
| % of loan amount - min | 0 | | 0 |
| % of loan amount - max | 0 | | 0 |
| OR, Fixed amount - min | 232.40 | | 100 |
| Fixed amount - max | 6,474 | | 325 |
| Reason for variation | | | N/a |
| Appears on Repayment Sched? | No | | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Mortgage Redemption Insurance |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 16.25 |
| Fixed amount - max | 591.50 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | 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 | 0 |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
Interest Paid on Deposit
| Minimum interest rate paid | 1.00% |
| Maximum interest rate paid | 1.00% |
| Interest payment frequency | Quarterly |
Taxes
| Are taxes charged on this product? | Yes |
| Percentage of fees | 0 |
| All or some fees taxed | N/A |
Additional Comments
Bank charge = .83% of loan amount x loan term. Processing Fee = P1 or .25% of loan amount (for 4, and up). Insurance Fee = P2 for every P1 for 3 month loan (based on table of fees. Tax (Gross Receipts Tax) = 5% of accrued interest fee and fees (except insurance). Tax (Doc. Stamp) = P1 for every P2 per annum. For savings, opening account balance is P2. No deposit is required prior to disbursement. It is assumed that savings have been accumulated from previous loan cycles. Weekly savings required is 1% of loan amount / # of weeks
Full Pricing Data
Unlad samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
|---|
| Loan Amount | PHP 7,000 | | PHP 13,000 | | PHP 30,000 | | PHP 60,000 | | PHP 90,000 | | PHP 130,000 |
| Loan Cycle (1, 2, 3, etc) | 2 | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2011-05-27 | | 2011-05-20 | | 2011-05-06 | | 2011-06-03 | | 2011-04-08 | | 2011-03-11 |
| Loan Term (Months) | 4.0 months | | 3.0 months | | 3.0 months | | 5.1 months | | 6.1 months | | 6.1 months |
| Grace Period (Months) | 0.0 months | | 0.0 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 | | Not Known | | Not Known |
| True Price by Comp | | | | | | | | | | | |
| Interest and Fee Component | 85.5% | | 81.0% | | 77.5% | | 77.7% | | 78.3% | | 78.7% |
| Insurance Component | 1.5% | | 2.1% | | 2.1% | | 2.0% | | 2.0% | | 2.0% |
| Tax Component | 5.9% | | 7.7% | | 7.4% | | 5.5% | | 5.7% | | 5.7% |
| Deposit Component | 9.4% | | 6.0% | | 5.7% | | 8.5% | | 8.9% | | 8.6% |
| Full APR (int fee ins tax dep) | 102.3% | | 96.8% | | 92.7% | | 93.7% | | 94.9% | | 95.1% |
| Transparency Index | 23 | | 25 | | 26 | | 26 | | 25 | | 25 |
| | | | | | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
