Purpose
- May be used for any financial needs of the member.
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: 36% p.a.
Effective Interest Rate: 1.74% per month
Co-Makers Needed: 2
Documentation Requirements: Letter of intent indicating purpose of loan
Estimated Processing Time: 7 working days from receipt of loan application form.
