Credit

Goodwill Loan

  • Gross amount of loan is P3, 500.00, P6, 000.00 and P9, 000.00 payable in three (3) months, six (6) months and nine (9) months respectively.
  • Salary Deduction.
  • For new members only.

Instant Loan

  • Maximum loanable amount P5,000.00
  • Interest rate of 1.5% per month
  • Direct Payment – onetime or staggered payment for three (3) months.
  • Members should be in good credit standing.
  • Can be renewed upon full payment of the existing instant loan.

Medical Assistance / Calamity Loan

  • Maximum loanable amount SBL
  • Interest rate of 1.5%/month based on diminishing balance. Effective Rate 10%.
  • Maximum payment period thirty (60) months.
  • Requirements:
    • Medical Assistance Loan - Medical Abstract or Doctor’s Certificate & Official Receipt or covering payments made not earlier than two (2) months prior to filling of the loan. (If member is single qualified dependents are: Parents, brothers, sister and (children if single parent); if member is married qualified dependents are: Spouse, children and parents).
    • Calamity Loan – area of Residency must be declared as areas under the state of calamity. (Barangay Certificate). Residence shall be based as per member’s profile.
  • Medical Assistance and Calamity Loan to be taken separately.
  • Maximum of 2 loans but not to exceed the SBL.

 Regular Loan

  • Maximum loanable amount SBL.
  • Interest rate of 2.8%/month based on diminishing balance.
  • Maximum payment period of thirty-six (36) months. Effective Rate 18%.
  • Renewal shall only be allowed after fifty percent (50%) of the previous loan has been paid on or before the date of loan renewal.
  • No other requirements required.

Multi-Purpose Loan

  • Maximum loanable amount SBL.
  • Interest rate of 2.8%/month based on diminishing balance. Effective Rate 18%.
  • Maximum payment period of thirty six (36) months
  • Renewal shall only be allowed after fifty percent (50%) of the previous loan has been paid on or before the date of loan renewal.
  • Statement of Loan Balances.

Educational Loan

  • Maximum loanable amount SBL
  • Interest rate of 2.5%/month based on diminishing balance. Effective Rate 16%.
  • Maximum payment period twenty four (24) months
  • Renewal shall only be allowed after fifty percent (50%) of the previous loan has been paid on or before the date of loan renewal.
  • Requirements:
    • Official Receipt - receipt covering payments made not more than two (2) months prior to filing of loan. or
    • Registration Card - processed registration card, indicating the amount to be paid.

Special Service Loan

  • Maximum loanable amount SBL
  • Interest rate of 2.5%/month based on diminishing balance. Effective Rate 16%.
  • Maximum payment period of sixty (60) months.
  • Renewal shall only be allowed after fifty percent (50%) of the previous loan has been paid on or before the date of loan renewal.
  • Requirements:
    • Official Receipt - receipt covering made not more than three (3) months prior to filing of loan. (ex. Appliances, electric, water, telephone, credit card and others). or
    • Quotation or billing - quotation from the establishment (ex. Appliances, electric, water, telephone and credit card bill and others).
  • Surrender OR/CR if the loan purpose is for Vehicle.

House Renovation Loan

  • Maximum loanable amount SBL
  • Interest rate of 2.5% /month based on diminishing balance. Effective Rate 16%.
  • Maximum payment period of sixty (60) months.
  • Renewal shall only be allowed after fifty percent (50%) of the previous loan has been paid on or before the date of loan renewal.
  • Requirements:
    • Official- receipt covering payments made not more than three (3) months prior to filing of loan. (Ex. Materials and Labor). Or
    • Quotation or BOM - quotation or bill of materials.

Business Loan

  • Maximum loanable amount SBL
  • Interest rate of 2.5%/month based on diminishing balance. Effective Rate 16%.
  • Maximum payment period of thirty six (36) months.
  • Renewal shall only be allowed after fifty percent (50%) of the previous loan has been paid on or before the date of loan renewal.
  • Requirements:
    • Feasibility Study. Or
    • Certificate of Registration, ITR (existing).

Guaranteed Loan

  • Maximum Loanable amount SBL.
  • Interest rate of 1.22% per month based on diminishing balance. Effective interest Rate 8% per annum.
  • Maximum payment period
    • Vehicle – Sixty (60) months or five (5) years.
    • House and/or Lot – One hundred twenty (120) months or ten (10) years.
  • Renewal shall only be allowed after seventy fie percent (75%) of the previous loan has
    been paid on or before the date of loan renewal.
  • Requirements
    • OR/CR if the loan purpose is for Vehicle.
    • Land Title (House and/or Lot).
    • Deed of Sale Agreement.

Loyalty Loan

  • Maximum loanable amount SBL.
  • Interest rate based on diminishing balance and Membership

                                           Interest Rate             Effective Rate    

    • Platinum =              .85%                       5.53%
    • Gold =                     1.00%                      6.50%
    • Silver =                    1.15%                       7.50%
    • Bronze =                  1.31%                       8.52%
  • Maximum payment period of sixty (60) months.
  • Renewal shall only be allowed after fifty percent (50%) of the previous loan has been paid on or before the date of loan renewal.
  • Requirements – NO LOAN BALANCE

Consolidated Loan

  • Maximum loanable amount SBL.
  • Interest rate of .90% /month based on diminishing balance. Effective Rate 6%.
  • Maximum payment period of sixty (60) months.
  • Renewal shall only be allowed after fifty percent (50%) of the previous loan has been paid on or before the date of loan renewal.
  • Combination of Loan Balances from PATCOMC.

Buy Out Loan

  • Maximum loanable amount SBL
  • Interest rate is .90%/month based on diminishing balance. Effective Rate 6%.
  • Maximum payment period sixty (60) months.
  • Renewal shall only be allowed after fifty percent (50%) of the previous loan has been paid on or before the date of loan renewal.
  • The purpose of this loan is to buy out loan from other financial institution like AMWSLAI, CWSLAI, LBP and other Financial Institution.

 

NOTE:

All Loans are subject to applicable standard and approved fees and deductions:

Computations of interest are based on diminishing computation.

Loan Insurance (LIGF) or Mutual Benefit Fund (MBF) = 1.25/Php1,000.00 loan/mo.

Savings = 3% of Gross amount

Service Fee

If P1,000.00 to P9,999.00      -  NO SERVICE FEE

If P10,000.00 to P99,999.00  -  1% of Principal Amount

If P100,000.00 to P1M           -   P100.00 x no. of months to pay

Processing Fee

If P1,000.00 to P9,999.00       -  2% of Principal Amount

If P10,000.00 to P99,999.00  -  P100.00

If P100,000.00 to P1M            -  P500.00

Surcharges = 2%

Approved Single Borrowers Limit (SBL) = Php2,500,000.00   

 

*For Consolidated, Buy Out and Loyalty loan – NO Re-computation of
interest upon cash full payment of Loan.