Salary-Based Loan:

i. In the maximum amount of Php30,000.00 for regularly employed and pensioner members only subject to credit investigation;

ii. Submission of latest two (2) pay slips that will serve as basis for evaluation of his/her 50 percent net take home pay;

iii. Payable in maximum seventy -two (72 semi-monthly amortization period through payroll ATM deduction system for employed and pensioner members with resulting amount of semi-monthly amortization not exceeding 50 percent of his/her net take home pay;

iv. With Service Fee of Php100.00 for every loan of this type deductible from loan proceeds;

v. With Creditor's Group Life Insurance of Loan Amount from the co-op's accredited insurance provider the premium of which shall be deducted from loan proceeds;

vi. With interest of 2.5 percent per month;

vii. Submission of loan application form (with provisions on authority

to deduct from his/her payroll ATM account and promissory note, no co-maker);

viii. loan processing is subject to pre-audit and approval by the Chairperson of the Board;

ix. Loan renewal shall be allowed provided he/she has paid at least fifty (50y%) percent of the total number of regular amortization e.g. for 12 semi-monthly amortization period- has paid at least six (6) semi-monthly amortization.

Appliance/Gadget Loan:

i. Qualfied availees- members who are gainfully employed and GSIS/SSS pensioners (with payroll ATM account / card)

ii. Maximum loanable amount is based on capacity to pay of the applicant measured in terms of his/her cumulative loan installments which should not exceed 50% of his/her net take home pay;

iii. With Php100.00 Service fee deductible from loan proceeds;

iv. With 2.5% interest rate per month x loan amount, payable in maximum 36 months;

v. Requirements: 1) filled loan application form, 2) Certificate of Employment 3) copy of latest pay/withdrawal slip showing that the debtor has the capacity to repay the regular loan amortization based on the 50% of his/her net take home pay;

vi. No co-maker requirement

.vii. Loan processing is subject to pre-audit and approval by the Chairperson of the Board;

viii. The loan proceeds shall be paid directly to the co-op's accredited supplier and the supplier shall deliver the appliance to the office of the co-op and the official receipt shall be in the name of the co-op for the account of the member-debtor.

ix. Renewable of loan shall only be upon fuIl payment of existing loan.