Written by Administrator Monday, 21 March 2011
Members in good standing are entitled to avail of this loan.
Loanable Amount - x 5 of the share capital or maximum of 500,000.00
Terms of payment – maximum of five (5) years
Interest Rate :
- 1 year – 8%
- 2 -3 years – 10%
- 4 years – 12%
- 5 years – 14%
Service fee – Two (2%) percent pre-deducted
Subscription Receivable – Two (2%) percent pre-deducted
- Feasibility study
- Barangay clearance and/or Mayor’s permit
- DTI registration
- Proof of billing
- Latest month-end pay slip
- Net take home pay – Php 2,000.00
- NO CO-MAKER = If the amount of loan is less than 20,000.00 or equal to CBU.
- ONE (1) CO-MAKER = If the amount of loan is more than 20,000.00 to 150,000.00.
- TWO (2) CO-MAKERS = If the amount of loan is more than 150,000.00
In the absence of one co-maker, the borrower is required to submit collateral:
- LandTitle within Metro Manila Area or Region IV only
- Car Registration – with model of not more than 3 years
- Any given time (effective July 1, 2011).