i. Maximum loanable amount of twice his/her paid-up share capital based on capacity to pay. However, if the initial amount of paid-up share capital is Php20,000.00 and above, a six (6) month residency as cooperative member shall be required prior to loan availment and 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 (for regularly employed and pensioner members;

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 one (1) co-maker requirement for self-employed/ business person

members;

v. With Service Fee of Php100.00 for loan loan amounting to Php30,000.00 and below, and Php200.00 for loan amounting to more than P30,000.00 deductible from the loan proceeds;

vi. 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;

vii. With interest of one (1%) percent per month;

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

to deduct from his/her payroll ATM account and promissory note, 1 co-maker);

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

' x. Loan renewal shall be allowed provided he/she has paid at least fifty (50%) 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.

xi. To secure loan repayment, loan application for SCL amounting to

Php5o,000.00 and above shall be covered by a collateral, i.e. Certified true copy of Transfer Certificate of Title GCT) of his/her property for annotation of his/her loan amount and the terms and conditions.