Requirements:
- 6 months coop member
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.
| Minimum Share Capital : | Php2,500 |
|---|---|
| Loan Amount : | 6 mos. member up to P50K
1 year member up to P200K |
| Interest Rates : | 1.5% per month straight-line basis |
| Service Fee : | 2% or P3,000 service fee whichever is lower |
| Loan Term : | Up to 4 years to pay |
Note:
- 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.