Purpose
- Equity component of member’s car loan.
Requirements
- Loan Application Form
- Twelve (12) months coop tenure
Loan Entitlement: 5 x equity
Loan Ceiling: P100,000.00
Service Fee: 0.5% of loan or P200.00 whichever is higher.
Retention Fund: 10%
Maximum Term: 24 months
Diminishing Interest Rate: 18% p.a.
Effective Interest Rate: 0.83% per month
Co-Makers Needed: 2
Documentation Requirements: Quotation or official receipt of car.
Estimated Processing Time: 7 working days from receipt of loan application form.
