Borrower Eligibility
(Multi-Purpose Loan)
 
New Loan
  1. With at least twenty-four (24) monthly contributions.
  2. An active member at the time of loan application, with at least five (5) monthly contributions for the last six (6) months.
  3. Member-applicant’s net take home pay shall not fall below the minimum requirement of the General Appropriations Act (GAA) or company policy, whichever is applicable.
  4. If with existing calamity loan, a member shall be allowed to avail of the MPL only after payment of at least six (6) monthly amortizations. The outstanding balance, together with any accrued interests, penalties and charges, shall be deducted from the proceeds of the MPL.
Loan Renewal
  1. With payment of at least six (6) monthly amortizations. The outstanding balance, together with any accumulated interests, penalties and charges, shall be deducted from the proceeds of the new loan.
  2. An active member at the time of loan application, with at least five (5) monthly contributions for the last six (6) months.
  3. Member-applicant’s net take home pay shall not fall below the minimum requirement of the General Appropriations Act (GAA) or company policy, whichever is applicable.