Zone 3, Bugo, Cagayan de Oro City
Mon-Thurs: 8am - 4pm Fri: 8am - 5pm
info@dmpi-eccc.org
INSTANT LOAN
OBJECTIVE
To help members defray their immediate needs like death, hospitalization, medicines, calamities, legal problems, dental, optical, electric bills, water bills, educational expenses for themselves and / or dependents / beneficiaries.
INITIAL REQUIREMENTS
- The member MUST be a bonafide REGULAR member of the cooperative.
- For P10,000 loan grant – Member MUST be at least 2 years in service in DMPI.
- For P15,000 loan grant -Member MUST be at least 5 years in service in DMPI, Must be a Class A member for the past 4 months, Take home pay per quincena is P10,000 or P20,000 per month.
- Member MUST have at least Php 5,000.00 in Fixed Deposit.
- Duly filled and signed Application Form.
- A copy of member’s payslip for the last three months or the last six quincenas.
CONDITION
- Loanable Amount will be according to the current Fixed Deposit Amount of the member as reflected in the Table A and maximum amount will be according to tenure.
- Service Fee is 2.5% of the approved Gross Loan.
- Interest Rate is 1.5% per month.
- Penalty Fee is 1% per month for all uncollected/unpaid amortization.
- For P10,000 loan grant – Maximum loan term is 6 months.
- For P15,000 loan grant – Maximum loan term is 12 months.
- Re-Loan can be granted to the member, provided that the gross loan proceeds shall still be in accordance to what is indicated in the loan guide table.
- This loan is a priority for deduction.
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LOAN GUIDE TABLE |
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| CLASS |
A |
B |
C |
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|
SHARE CAPITAL
|
Regular Member | Regular Member | Regular Member | ||||||
| More than 2 years but less than 5 years | 5 – 10 years | More than 10 years | More than 2 years but less than 5 years | 5 – 10 years | More than 10 years | More than 2 years but less than 5 years | 5 – 10 years | More than 10 years | |
| 5,000 | – | 15,000 | 15,000 | – | 5,000 | 10,000 | – | – | – |
| 10,000 | – | 15,000 | 15,000 | – | 10,000 | 10,000 | – | – | – |
| 15,000 | – | 15,000 | 15,000 | – | 10,000 | 10,000 | – | – | – |
| 20,000 | – | 15,000 | 15,000 | – | 10,000 | 10,000 | – | – | – |
| 25,000 | – | 15,000 | 15,000 | – | 10,000 | 10,000 | – | – | – |
| 30,000 | – | 15,000 | 15,000 | – | 10,000 | 10,000 | – | – | – |
| 35,000 | – | 15,000 | 15,000 | – | 10,000 | 10,000 | – | – | – |
| 40,000 | 5,000 | 15,000 | 15,000 | 5,000 | 10,000 | 10,000 | – | – | 5,000 |
| 45,000 | 10,000 | 15,000 | 15,000 | 10,000 | 10,000 | 10,000 | – | – | 5,000 |
| 50,000 | 10,000 | 15,000 | 15,000 | 10,000 | 10,000 | 10,000 | – | – | 5,000 |
| 55,000 | 10,000 | 15,000 | 15,000 | 10,000 | 10,000 | 10,000 | – | – | 5,000 |
| 60,000 | 10,000 | 15,000 | 15,000 | 10,000 | 10,000 | 10,000 | – | – | 5,000 |
| 65,000 | 10,000 | 15,000 | 15,000 | 10,000 | 10,000 | 10,000 | – | – | 5,000 |
| 70,000 | 10,000 | 15,000 | 15,000 | 10,000 | 10,000 | 10,000 | – | – | 5,000 |
| 75,000 | 10,000 | 15,000 | 15,000 | 10,000 | 10,000 | 10,000 | – | – | 5,000 |
| 80,000 | 10,000 | 15,000 | 15,000 | 10,000 | 10,000 | 10,000 | – | – | 5,000 |
| 85,000 | 10,000 | 15,000 | 15,000 | 10,000 | 10,000 | 10,000 | – | – | 5,000 |
| 90,000 | 10,000 | 15,000 | 15,000 | 10,000 | 10,000 | 10,000 | – | – | 5,000 |
| 95,000 | 10,000 | 15,000 | 15,000 | 10,000 | 10,000 | 10,000 | – | – | 5,000 |
| 100,000 | 10,000 | 15,000 | 15,000 | 10,000 | 10,000 | 10,000 | – | – | 5,000 |
Table A. (Instant Loan Guide Table)
