This refers to the amortized cost of loans extended by banks incorporated under the laws of the Philippines, whether Philippine or foreign owned, to finance educational institutions, cooperatives, hospitals and other medical services, socialized or low-cost housing and to local government units, without national government guarantee.These shall be included for purposes of determining compliance with the provisions of PD 717.
Loanable Amount : Amount:Based on capacity to pay and Loanable Value of collateral
Term : 1-5 years (amortization) subject to Management approval for longer term
Interest rate : as low as 9%
Collateral : Real Estate
Loanable Amount
Based on capacity to pay and Loanable Value of collateral
Term
1-5 years (amortization) subject to Management approval for longer term
Interest rate
as low as 9%
Collateral
Real Estate
Qualifications
• At least 21 years old but not exceeding 70 years old at the end of the loan term
• Minimum gross family income of ₱50,000/month or its equivalent in foreign currency
• With stable source of income from employment or business
• Locally Employed: at least 2 years with current company
• Self-Employed: at least 2 consecutive profitable years of operation
•Employed Abroad: 2-3 years consecutive employment. Assignment of Beneficiary as Loan Administrator if not in the Philippines at the time of application