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)