Requirements:
- 1 year coop member
- 2 years in the company
- If existing property:
- Copy of TCT (Title) under member’s name
- Bill of materials
- If New property
- Copy of TCT under previous /current owner
- Notarized deed of sale
- Proof of housing related expenses.
- Note: A notarized deed of assignment should be submitted for single status members who presented land titles owned by their parents.
Processing time :
Applications with complete requirements received from Mondays to Wednesdays will be released on Saturdays.
Applications received from Thursdays to Fridays will be released on the following Wednesdays.
| Co-Maker | Co-maker is required if loan is more than his/her paid up capital, 1 co-maker for every P1 to P25K loan exposure |
|---|---|
| Loan Amount : | Maximum of P300K |
| Interest Rates : | 1.25% per month straight-line basis |
| Service Fee : | 2% or P3,000 service fee whichever is lower |
| Loan Term : | Up to 5 years to pay |
- Credit limit per member is equivalent of 2X of paid-up capital except for Petty Cash Loan & Emergency loan which is allowed up to 3X of paid-up share capital.
- The maximum monthly amortization for all types of company and COOP loans shall be 35% of the employee’s monthly basic salary (MBS).
- Pre-termination fee is waived if loan for offset and the new loan application are the same type of loan.