Implementing Rules and Regulations – Pandemic Loan

ELIGIBILITY

• The loan is intended to meet the emergency credit needs of a member who is a victim or
  currently experiencing crisis brought about by the Pandemic.
• Open to all members of good standing.
• Single Borrower’s Limit still applies.

MECHANICS

• Maximum loanable amount equivalent to one-month salary for Payroll members.
• Maximum loanable amount equivalent to P100,000.00 for Non-Payroll members
  (back-to-back with member’s total deposits).
• Interest rate of 6% on the diminishing balance. (3.28% EIR)
• 1% handling fee
• Maximum term of 1year.
• A member with existing Calamity Loan may avail of Pandemic Loan.
• Availment period is from May 11 to June 30, 2020

REQUIREMENTS & CONDITIONS

• Must obtain co-makers. However, Borrower may apply without co-makers if no existing
  “No Comaker Loan”.
• Borrower will not be allowed to pre-terminate existing loan thru a Pandemic loan.
• Latest Payslip
• Terms and Conditions apply

HOW TO FILE

The applicant/member may apply via CRM.