Travel and Tour Loan (T&TL)

Travel and Tour Loan (T&TL)

Is a loan facility that can be used to finance travel and tour expenses of a member and his/her qualified dependents.

Amount of Loan – up to 100k
Interest rate – 1% per month
Terms of payment – up to 36 months
Service fee – 1%
Note: Subject to Co-maker policy and take home pay policy

REQUIREMENTS
– STMC member for at least six (6) months.
– Coverage: Loan is applicable to both Planned and Completed travel and tours

Additional requirements:
a. For Planned Travel and Tours: Proof of travel and tour expenses not limited to the following:
 – Confirmed Airfare, Cruise or Shipping and Bus Travel booking
 – Confirmed Hotel and Accommodation booking
 – Miscellaneous Expenses with or without receipts allowed up to max of P30,000
 – Receipts & Invoices should be under the name of the coop member or qualified dependent

b. For Completed Trips: Mandatory loan amount limit to the following expenses only.
 – Completed trips must be within 2 months after the travel dates
 – Airfare, Cruise or Shipping and Bus Travel booking tickets
 – Hotel and Accommodation invoice or receipts
 – Miscellaneous Expenses with or without receipts allowed up to max of P30,000
 – Photo copy of OR issued for all travel related purchases/payments must be submitted to coop upon loan availment
 – Receipts & Invoices should be under the name of the coop member or qualified dependent
Qualified dependents – Below are the qualified dependents
o Married member – Parents, Legal spouse, children & siblings
o Single status member – Parents, siblings and children