Purpose
- Members' personal credit line with the coop
Requirements
- Online Ready Credit Line Availment Form
Loan Entitlement: 90% of all deposits less outstanding loans
Loan Ceiling: (Total Share Capital + Savings Deposit + Time Deposit + PM2 Savings - Outstanding Loans) x 90%
Service Fee: P200.00 or 0.5% whichever is higher.
Retention Fund: None
Maximum Term: 60 months
Diminishing Interest Rate: 16% p.a.
Effective Interest Rate: 0.79% per month
Co-Makers Needed: None
Estimated Processing Time: 5 working days from receipt of loan application form.
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