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 Loan Application Form

 Photocopy of 2 Government Issued ID


 Billing Address (Water, Electric)
 Marriage Contract for married loan
applicants
 2 Months Payslip
 ATM win PIN
 Collateral for Loans above Php
20,000.00
 Post Dated Checks for Loans above
Php 20,000.00
 Certificate of Employment
 Bank Statement of Submitted ATM
Borrower shall submit the required
documents as stated in requirements.
Manager shall verify the validity and
authenticity of the submitted documents. The
following loan officers shall approve the loan
application:

For loans amounting to Php 50,000.00 and


below, the General Manager shall have the
authority to approve.

For loans amounting to Php 100,000.00 and


below, the Credit Committee shall be
requested by the Manager to examine and
approve the loan application.

A Board Resolution shall be drafted and


approved for loan amounting to
Php 150,000.00 and above.

Maximum of thirty days (30) shall be allotted


for loan application, processing and release.
Payment Scheme

Payment shall be collected monthly.


Payment shall be interest and principal.

Sample Payment Scheme


Loan Amount: 20,000.00
Interest Rate: 0.05
Mode of Payment: Monthly,
Diminishing
Term: 6 Months

Monthly
Principal
Month Interest Amortizati
Payment
on
1 1,000.00 3,333.33 4,333.33
2 833.33 3,333.33 4,166.66
3 666.67 3,333.33 4,000.00
4 500.00 3,333.33 3,833.33
5 333.33 3,333.33 3,666.66
6 166.67 3,333.35 3,500.02
3,500.00 20000.00 23,500.00

Payment Method

ATM Card
Borrowers may opt to leave their Payroll
ATM Card where the cooperative could
withdraw monthly amortization of Loan.

Post-Dated Check
A monthly check payment shall be
issued by the borrower to compensate the
loan made.
Non-Collateral Loan

We value the paid-up capital of our


members, in as much as we want to
provide lower interest rate; a non-
collateral loan is considered unsafe. The
relationship between parties only runs
with trust and confidence. A Five Percent
(5%) Interest is applied to non-collateral
loan with diminishing calculation.

Safe Loan

Collateral Loan is safer than non-


collateral loan. Our team provides Three
Percent (3%) Interest Rate for loan with
Collateral. Collateral could be in the
form of Land Title, OR CR of Vehicle.
Fees

The Following Fees shall be collected


when processing and releasing Loan:

Particular Amount Purpose


Records of Loan
Passbook Application
50.00 Payments and
Fee
Savings
1% of Payment for Loan
Loan Processing Fee Loanable Processing
Amount
Insurance Fee 162.00 To secure loan in
per case of untimely
10,000.0 death of the
0 principal borrower
Notarial Fee For Notarizing the
100.00 Loan Application
Fee

Penalties

Non Payment of Loan

First 10 days 100.00


11-20 days 300.00
21-30 days 500.00
30 days above Monthly Interest Rate of
Loan per month

Unfunded checks during due dates shall have


Php 2,000.00 Penalty.

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