Credit/Lending

It is the privilege of members to avail of loans under different loan windows according to their needs and qualifications

 

Loan Windows

  • Regular


    QUALIFICATIONS

    • Must be a regular member
    • must have a share capital of P25,000.00

    LOANABLE AMOUNT

    • P200,000.00  maximum amount

    CO-MAKER

    • Member in Good Standing (MIGS)

    COLLATERAL

    • Share Capital/Savings and Time Deposits
    • Tax Declarations/Land Title
    • Salary
    • Pensions

    INTEREST RATE

    • 13% per annum = lumpsum payment
    • 7.02% per annum = monthly payment

    FINES/PENALTY FOR DELINQUENT LOAN

    • 2% per month

    SERVICE FEE

    • 2% per annum

    TERMS/MODE OF PAYMENT

    • Monthly (Maximum mode of payment = 24 months)

    Important Information

    A Co-maker is a co-payor. Borrower may have more than 1 co-maker.

  • Emergency


    QUALIFICATIONS

    • Must be a regular member

    LOANABLE AMOUNT

    • P5,000 maximum amount

    INTEREST RATE

    • 3% per month

    FINES/PENALTY FOR DELINQUENT LOAN

    • 5% per month

    TERMS/MODE OF PAYMENT

    • Payable in one (1) month

  • Salary/Pension


    QUALIFICATIONS

    • Availed of Regular Loan at least once
    • Must be a regular member
    • P50,000 Share Capital
    • Member for six (6) months
    • Permanent employee for 2 years
    • With 30 days S/V leave credits
    • With no outstanding loan in any loan window except Emergency Loan

    LOANABLE AMOUNT

    • P500,000 maximum amount

    CO-MAKER

    • Must be permanently employed in Besao

    COLLATERAL

    • SPA authorizing DO/Head of Agency for salary deduction.
    • ATM

    INTEREST RATE

    • 1.10% per month
    • Diminishing balance

    FINES/PENALTY FOR DELINQUENT LOAN

    • 3% per month

    SERVICE FEE

    • 1% 6 months
    • 2% 12 months
    • 3% for 18 months - 60 months
    • 4% 61 months and above

    TERMS/MODE OF PAYMENT

    • Monthly for thirty-six (36) months maximum

     
     
  • Mortgage Loan


    QUALIFICATIONS

    • Must be a regular member
    • P50,000 Share Capital
    • Member for six (6) months
    • Member/Spouse with regular souce of income
    • No outstanding loan in any loan window except Emergency Loan

    LOANABLE AMOUNT

    • P2,000,000 maximum amount

    CO-MAKER

    • Spouse of borrower
    • Single borrowers - Immediate relatives with regular income

    COLLATERAL

    • TD/OCT/TCT of lot where the house is to be constructed
    • TD/OCT/TCT of existing lot or house and lot
    • Collateral will be covered with REM

    INTEREST RATE

    • 1.10% per month
    • Diminishing balance

    FINES/PENALTY FOR DELINQUENT LOAN

    • 3% per month

    SERVICE FEE

    • 1 % 6 months
    • 2 % 12 months
    • 3% for 18 months-60 months
    • 4% - 61 months and above

    TERMS/MODE OF PAYMENT

    • Monthly for 96  months maximum

    Important Information

    A Co-maker is a co-payor. Borrower may have more than 1 co-maker.

  • Micro Finance


    QUALIFICATIONS

    • Member in good standing
    • Small scale business persons
    • Member/Spouse with regular souce of income

    LOANABLE AMOUNT

    • P10,000 maximum amount

    CO-MAKER

    • Spouse of borrower
    • Single borrowers - Immediate relatives with regular income

    INTEREST RATE

    • 7.02%/13% per annum

    FINES/PENALTY FOR DELINQUENT LOAN

    • 7.02% per annum

    SERVICE FEE

    • 2% per annum

    TERMS/MODE OF PAYMENT

    • Monthly

     

    Important Information

    A Co-maker is a co-payor. Borrower may have more than 1 co-maker.

    Project Fund: One Hundred Thousand Pesos (P100,00.00) from the Priority Development Assistance Fund of Honorable Jose R. Ping-ay, Representative, Party List, COOP NATCCO NETWORK

  • Agricultural Development


    QUALIFICATIONS

    • Member in good standing
    • Must deposit at least 1% of the principal loan to the coop for capital build-up (CBU) after the project season
    • P10,000 Share Capital
    • Must enroll in the Social Health Insurance Program of the Cooperative
    • Not Delinquent
    • Must have an available pigpen conducive for housing to serve as equity to the project
    • Engaged in High Value Crop (HVC) Production

    LOANABLE AMOUNT

    • Equivalent to P16,000.00

    CO-MAKER

    • Spouse of borrower
    • Single borrowers - Immediate relatives with regular income

    INTEREST RATE

    • 13% per annum

    FINES/PENALTY FOR DELINQUENT LOAN

    • 2% per month

    TERMS/MODE OF PAYMENT

    • Lumpsum for 18 months maximum

     

    Important Information

    • A Co-maker is a co-payor. Borrower may have more than 1 co-maker.
    • Project Fund: Initial fund of P250,000.00 from the Department of Agrarian Reform (DAR) under the Agrarian Reform Infrastructure Support Project II (ARISP II)

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