HOLD-OUT LOAN
Criteria
- Borrower must have an existing Regular or Special Saving Deposit account with the bank
- Borrower must sign a Deed of Assignment with the bank
Loan Amount
- Amount needed by the borrower but not more than the total amount of deposit
Loan Term
- 360 days (12 months)
Basic Document Requirements
- 2 pcs 2x2 updated ID pictures
- Photocopy of valid IDs
- Barangay Clearance
- Marriage Contract/CENOMAR
- Proof of Income
- Income Tax Return (ITR), if any
- Record of transactions
- Receipt of purchases/sales
- Certificate of Employment (with status of employment and Net take home pay)
- Passbook or statement of account
- Proof of remittances, if any
- Other pertinent financial documents required
SSS LOAN
Criteria
- Borrower must have an SSS Pensioners Account with the bank
- Borrower must be physical and Mental fit to undertake business transactions
- Borrower must have one Co-maker (family member other than spouse)
- Co-maker must have a permanent source of income
- Co-maker must be willing to shoulder repayments in case of borrower's default
Loan Amount
- 2/3 of monthly pension multiplied by Number of months payable
Loan Term
- 12 months
Basic Document Requirements
- Photocopy of at least 1 Government issued ID
- 2 pcs 2x2 updated ID picture (Borrower & Spouse, if any)
- Authority to debit account (provided by the bank)
Basic Document Requirements for Co-Maker
- Photocopy of 2 valid IDs
- 2 pcs 2x2 updated ID picture
- Proof of Income (Certificate of Employment, Business Permit, etc.)
Disclosure:
All loan application are subject to credit review and evaluation before approval.
