*SAVINGS DEPOSIT- 2% interest rate per Annum.
*LOANS
REGULAR LOAN
Based on members’ classification and paying capacity.
Class A- no single delinquent loan payment, Loan allowable is up to 350% of his Share capital.
Class B – delinquent loan payment of not more than 2 counts and loan allowable is up to 200% of his Share capital.
Class C – delinquent loan payment of not more than 3 counts and loan allowable is up to 150% of his Share capital.
DIMINISHING INTEREST EVERY DUE DATE
Effective Interest Rate:
1 yr. term -9.38% / annum; 1% service fee
2 yrs term-9.78%/ annum; 2% service fee
3 yrs term -10.24%/annum; 2.5% service fee
Penalty Rate – 2% /month (5 days grace period)
INSTANT LOAN
Allowable amount is Share capital minus loan balance.
Net proceeds less Credit &Consumers Arrears
1 yr. to pay – 9.38% effective interest rate and 1% service fee
EMERGENCY LOAN
Limited to death, sickness, calamities of members,, legal spouse, legitimate children, parents, grandchildren, and siblings.
Allowable amount to be granted will be based on member’s needs, but not to exceed the maximum allowable amount.
1 yr. to pay – 9.38% effective interest rate and 1% service fee.
EDUCATIONAL LOAN
Tuition fee and other school charges of members, and dependents in elementary, high school, college and graduate schools.
For college- a member can avail loan once every semester as long as he has allowable amount. Payable in 6 mos., 9.38% effective interest rate& 1% service fee.
For elementary & high school- member can avail loan once a year. Payable in 1 year with9.38% effective interest rate& 1% service fee.
EYEGLASS LOAN
Procurement of eyeglass services from the accredited clinic. This loan is granted to
A member, spouse, dependents and members parents. Amount to be granted will be based on member’s need but not to exceed the maximum allowable amount. Payable in 1 year, 9.38% effective interest rate and 1% service fee.
GUARANTEED LOAN
A loan product wherein Supplementary Provident plan (SPP) is the guarantee.
Amount granted- 80% of SPP withdrawable amount for 1-3 mos. Before withdrawable month and 75% of withdrawable amount for 4-6 mos. before withdrawable month. Interest rate is 3% straight per month.
RETIRABLE LOAN
Granted to members who are DMPI employees who will retire within two (2) years. 12% per annum and 2% service fee to 1 Yr. & up to retire.
Allowable amount:
Hourly -Ps.200, 000
Monthly – 300,000
Supervisors- 500,000
Managers/Senior Managers -1,000,000
APPLIANCE LOAN
To purchase brand new appliances, gadgets and Furniture’s. 18 months to pay, 12% interest per annum and 1.5% service fee.
Members must be in good standing for the last two years and has the capacity to pay.
VEHICLE LOAN -to purchase brand new and used vehicle. For brand new vehicle 5 yrs. maximum term. For used vehicle, 3 yrs. Maximum term and the model of the vehicle shall not more than 5 yrs old. Interest rate at 8% per annum, service fees
1 yr. – 1%; 2 yrs.- 2% and for 3 to 5 years 2.5%.
A member must be in good standing for the last 2 years and has the capacity to pay.
MEGA LOAN
granted to members based on their Income and capacity to pay. A minimum amount of P 200,000 and above.
5 yr. term – 19%, Effective Interest Rate 11 %,( Annuity) &service fee at 2.5%
Any active member for 5 yrs. who are in good standing. Share Capital not less than P 25,000.
PDC is required for NON-DMPI and DMPI employee not more than 10 yrs. in service in full term payment.
PANGKABUHAYAN LOAN
Financial loan to the member which engage in small business.
Payable within 6 months at 2% interest per month, service fee of 2%, Loan protection premium and daily collection.
PENSION LOAN
Available to members with Pension. ATM card is submitted as guarantee of monthly payment.
Allowable amount is up to 50% of his/her monthly pension (up to 69 yrs. old only)
Monthly amortization- 50% of his monthly pension x no. of months to pay.(6 to 12 mos. Only).
Service Fee of 1% and 1.5% interest /mo. Based on diminishing balance (annuity).
COMMODITY LOAN
Allow members under “Retirees” category to avail consumers’ goods through loan.
Allowable amount is 25% of his/her monthly pension, service fee of 0.5% and 0.83% interest, payable in one month only.
ATM card as guarantee of payment.
EQUITY LOAN
Financial assistance to members who are interested to avail the BCC Homes. Amount of loan Depends on Total Equity of the type of house to be applied.
1 to 5 yrs term
12% interest per annum Diminishing Service Fee at 2.5%