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152 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: 152 months
Key Statistics
| Outstanding portfolio (PHP) | PHP 2,629,085 |
| Portfolio (USD) | USD 62,896.77 |
| Active Clients with Loans | 659 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 80% - 100% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
Loans offered to microentrepreneurs for business purposes
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 | x |
| Credit insurance | x |
| Workplace visits | x |
| Business training | x |
| Other training | |
| Other | Life insurance, Values Formation |
| 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 2,000 |
| Maximum loan size | 150,000 |
Loan Term and Grace Period
| Shortest loan term | 2.6 months |
| Longest loan term | 2.6 months |
| Approx average | 2.6 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 | 3.33% |
| Highest quoted nominal interest | 3.33% |
| 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 |
|---|
| Description | Service Charge |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Credit Insurance |
| % of loan amount - min | 30.00% |
| % of loan amount - max | 30.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | 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? | |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | PHP 50 |
| Conditions on access to deposit | When Leaving |
Interest Paid on Deposit
| Minimum interest rate paid | 6.00% |
| Maximum interest rate paid | 6.00% |
| Interest payment frequency | Annually |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Credit Insurance premium based on P1 per P1 loan x loan term (months). Withdrawals from savings is allowed for emergency purposes.
Full Pricing Data
Regular Loan - 11 weeks samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 |
|---|
| Loan Amount | PHP 4,000 | | PHP 10,000 | | PHP 12,000 | | PHP 20,000 | | PHP 20,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2010-12-03 | | 2011-06-23 | | 2011-02-07 | | 2011-07-07 | | 2011-05-19 |
| Loan Term (Months) | 2.6 months | | 2.6 months | | 2.6 months | | 2.6 months | | 2.6 months |
| Grace Period (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 |
| True Price by Comp | | | | | | | | | |
| Interest and Fee Component | 103.1% | | 103.1% | | 103.1% | | 103.1% | | 103.1% |
| Insurance Component | 2.8% | | 2.8% | | 2.8% | | 2.8% | | 2.8% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 12.4% | | 4.7% | | 3.9% | | 2.3% | | 2.3% |
| Full APR (int fee ins tax dep) | 118.2% | | 110.5% | | 109.7% | | 108.1% | | 108.1% |
| Transparency Index | 34 | | 36 | | 36 | | 37 | | 37 |
| | | | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF |
Regular Loan - 11 weeks Price Graphs
