Regular Loan
We recognize that financial flexibility plays a crucial role in both your personal and business life. That’s why our Regular Loan options are tailored to provide the support you need to reach your financial goals. Whether you’re looking to simplify your finances by consolidating debt, make a significant investment in a major purchase, or secure funds to invest in your future, we are here to help you navigate these important decisions with ease and confidence. Our goal is to ensure you have access to the financial resources necessary to move forward and thrive.
Loan Requirements
- A required equity of 10% of the loanable amount (cash out by the borrower)
- Salary Deduction
- 15% per annum diminishing annual balance
- Below ₱30,000 (12 months to pay)
- ₱31,000 to ₱60,000 (24 months to pay)
- ₱61,000 to ₱100,000 (36 months to pay)
- ₱101,000 to ₱200,000 (48 months to pay)
- ₱201,000 to ₱300,000 (54 months to pay)
- ₱301,000 to ₱600,000 (60 months to pay)
- ₱600,000 to ₱1,000,000 (72 months to pay)
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Can I use the loan for any purpose?
Yes, regular loans can generally be used for personal or business purposes, unless otherwise specified by the cooperative's loan policy.
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Can I apply for a loan if I have an existing loan?
Yes, but it depends on your current loan balance and payment history. Some cooperatives have rules regarding multiple loan applications for members with existing loans.
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How do I repay the loan?
Repayment can be made via regular deductions from the member's account, salary deductions, or other agreed methods.