Philippine Peso Exchange Rate
|
|
|
|
LOAN PRODUCTS Revolving Credit LineRevolving Credit Line Facility may also be made available to SMEs on short term basis. This will enable the entrepreneur to bridge temporary shortfall in cash flows and avoid disruption of day-to-day operations of the business
Industrial LoanThese are medium or long term loans granted to finance acquisition of fixed assets relative to the establishment or expansion of industrial or agro-industrial projects or any business related to production of goods and services.
Consumption LoanLoans may also be extended to individuals or businessmen who need funds for personal use. This is also secured by acceptable collateral. q Acceptable Purposes o Purchase of car, furniture or appliances o For education and medical expenses o Pay-off maturing obligation o Minor repairs/ renovation of the residence o Other personal consumption q Loanable Amount o Minimum of P50, 000.00 o Maximum – depending on the purpose; not to exceed 49% of market value of the collateral. q Term o Short term – less than one (1) year o Medium term – one (1) year to five (5) years q Interest rate and Service Charge o Variable (refer to current loan pricing) o One-time service charge per availment (refer to current schedule of charges) q Repayment o Equal monthly amortization of principal and interest o Quarterly amortization of principal and interest o Semi-annual amortization of principal and interest o Discounted interest (booked as UID); principal payment on maturity o Equal monthly amortization of interest; principal payment on maturity o Balloon payment; principal and interest on maturity q Acceptable Collateral o Fully secured first mortgage on real estate property. o Chattels (case-to-case basis) q Valuation o Loanable amount must not exceed 49 % of current market value. o In case of chattel, loanable amount must not exceed 50% of the collateral. o Authorized personnel of LDB must conduct the appraisal. q Eligible Borrowers o Individuals Partnership (case-to-case); provided one of the partners is a co-maker in his personal capacity.
Consumption Loan: “Salary Maximizer”A credit facility designed to finance all the personal needs of executives and employees of the accredited business enterprises or companies termed as “Salary Maximizer” q Area Coverage and Eligible Borrowers o Executives, officers and employees of Laguna Chamber of Commerce and Industry (LCCI) member companies and the various locators of the different Science & Industrial Parks in the Bank’s service area. o Permanently employed at least one (1) with the accredited company Note: Coverage may be expanded to other areas depending on the profitability of this product. q Loanable Amount o Minimum of P7,000.00 o Maximum amount equivalent to three (3) months salary if guaranteed by the accredited company. o Maximum amount up to one (1) month salary, if not guaranteed by the accredited company. q Terms and Interest Rates o Applied rate is add-on based on the prevailing market pricing for clean loans and profitability requirements of the Bank. o Maximum term is 24 months. q Mode of Payments o The loan shall be payable bi-monthly through salary deduction. o Payments shall be remitted to LDB office by the payroll officer q Handling Fee o 3% handling fee per release shall be deducted in advance from the proceeds of the loan. q Security o Clean o Continuing Guarantee of accredited company (optional), or o Continuing Guarantee of the company’s Paymaster or Head of Personnel/Human Resources Department for salary deductions and remittance of loan amortizations to LDB. q Company Accreditation o The recommending officer must pre-qualify the subject company. Justification must be based on the following considerations: · Legal existence · Length of operations · Profitability and stability · Credit standing · Established profile of current principal officers o Credit limit of the accredited company must be established (aggregate loan availments of its employees). o Officer’s Credit Report (OCR), which summarizes the justifications for accreditation must be prepared and submitted to the appropriate lending authority for evaluation and approval o The accredited company must maintain a deposit account with the bank. Recommending officer must be able to negotiate for an ADB beneficial to the Bank to compensate for the risk and acceptable to the accredited company. o The Bank & the accredited company prior to the granting of loans to individual borrowers shall execute a Memorandum of Agreement. o Documents Required for Accreditation · SEC Certificate of Registration · Articles of Incorporation and By-Laws · Secretary’s Certificate of Board Resolution authorizing the corporation to sign a Memorandum of Agreement or authority to enter into a contract with LDB guaranteeing salary loans of its employees and naming the authorized persons to sign on behalf of the company. · Profile of the principal officers of the company · Three (3) years AFS · Bank and other credit references q Qualification of Borrower/Co-Maker and Documents Required Pre-approval
Note: The application form must have the approval of the company’s Head of Personnel/Human Resources Department
Note: This co-maker requirement can be waived in case the accredited company guarantees the loan. o Latest Income Tax Return (ITR) or Certificate of Filling of ITR by the employer. o Certificate of Employment and Salary duly signed by Head of Personnel/Human Resources Department or other authorized officer of the accredited company. o Current month’s pay-slip After Approvalo Promissory Note (PN) duly signed by the principal borrower and co-maker (if applicable). o Disclosure Statement duly acknowledged by the principal and co-maker (if applicable) o Duly signed Authority to Deduct by the principal borrower and co-maker. o Undertaking of salary deductions and remittance scheme to LDB executed by the paymaster. o The borrower/employee must open a savings account with the bank where the proceeds of the loan shall be credited.
Statement of Loan Proceeds (SLP) duly acknowledged by the principal and co-maker (if applicable)
Back-to-Back LoansThe Bank offers back-to-back credit facility to its depositors. The loan is fully secured by assignment of deposit. This is being encouraged considering that assets and liabilities of the Bank are fully utilized at minimum risk. q Purposes Loans may be obtained for any of the following purposes:
Note: Refer to SPM I, Chapter 4: Loan Booking & Documentation; Section A; Sub-section 3.2 q Eligibility Individual or corporate depositors maintaining either of the following deposit accounts under the same name: o Regular Savings Account (without AFTA) o BSA (without AFTA) o Flexi Savings Account o Regular Time Deposit Account o Five-Year TD Note: In case of joint/several account, the co-depositor(s) must act as co-maker(s) and sign the Deed of Assignment. q Loanable Amount o Minimum amount is P5,000.00 o The maximum loanable amount shall be 80% of the deposit or placement amount being assigned. o Loanable amount equivalent to 100% of the deposit if interest is collected in advance. q Term o Short term – less than one (1) year o Medium term – one (1) year to five (5) years q Interest rate o Interest of the deposit plus 7% q Security o Assignment of Deposit o Hold out placed on the account o Deposit document must be kept by the Securities Custodian of the Bank o Conditions on Security: · Term of TD or Flexi Savings must be co-terminus with the term of the loan or beyond its maturity. · A separate account is required if the assigned deposit is SA or BSA. · Partial withdrawal from SA or BSA and likewise, partial pre-termination of TD or Flexi Savings shall not be allowed until the loan has been fully paid.
Note: The above conditions on security imply that partial withdrawal of deposit equivalent to the amount of principal already paid on the loan shall not be allowed. On case-to-case basis, policy exception may be allowed subject to the approval of the Approving Authorities. q Repayment o Equal monthly amortization of principal and interest o Quarterly amortization of principal and interest o Semi-annual amortization of principal and interest o Discounted interest (booked as UID); principal paid on maturity o Monthly payment of interest; principal paid on maturity o Balloon payment of principal and interest on maturity
Agricultural LoanIncludes all loans granted to borrowers, whether beneficiaries of agrarian reform or not, to finance activities relating to agriculture; processing, marketing, storage and distribution of products resulting from these activities. q Acceptable Purposes o Acquisition of real estate properties for agricultural purposes o Purchase of seedlings, fertilizers, livestock, feeds, and other farm requirements o Purchase of transportation, farm equipment and machinery o Construction of farm facilities. q Loanable Amount o Minimum of P300,000.00 o Maximum of P5,000,000.00 q Term o Short Term – less than 1 year o Medium Term – 1 year to 5 years o Long Term – more than 5 years q Interest rate and Service Charge o Variable (refer to current loan pricing) o One-time service charge (refer to current schedule of charges) q Repayment o Equal monthly amortization of principal and interest o Quarterly amortization of principal and interest o Semi-annual amortization of principal and interest o Discounted interest (booked as UID); principal payment on maturity o Monthly Payment of interest; principal payment on maturity o Balloon payment; principal and interest payment on maturity q Acceptable Collateral o Fully secured first mortgage on residential/commercial real estate q Valuation o Loanable amount must not exceed 49 % of current market value. o Authorized personnel of LDB must conduct the appraisal. q Eligible Borrowers o Individuals/Sole proprietorship o Partnership o Corporation
Home Loan Credit FacilityEligible Borrowers/Purposes: Home Loan is a housing credit facility for individuals whose proceeds may be used to acquire or improve non-productive or non-income generating properties, to wit: o Acquisition/purchase of house & lot o House Construction o Refinancing of existing housing loans with other banks q Amount of Loan: P500,000.00 to P3,000,000.00 q Terms: Maximum tenors are as follows: (Inclusive of the construction period) Amount Maximumo P500k to P3.0M 15 years o Maximum of 20 years may be allowed on a case-to-case basis q Collateral and Valuation o Residential house and lot. Note: Policy exception may be allowed o 70% of market value of the collateral q Interest Rate: o Indicative Interest Rates are as follows: · Fixed for 1 yr. 11.50% pa. · Fixed for 2 yrs 12.50% pa. · Fixed for 3 yrs 13.50% pa. o The interest rate was based on a 4% spread over LDB’s current weighted average interest rate (WAIR)
Note: Interest rate is indicative and subject to change depending on the prevailing market and profitability requirement of the Bank. Refer to current interest rate for Home Credit Facility. q Re-pricing of Interest: The interest shall be re-priced annually after the fixed interest rate and the new interest rate that shall be based on a 4% spread over the Bank’s prevailing weighted average interest rate (WAIR) on the date of review. The BM/Loan Assistant shall be responsible for monitoring of the account for re-pricing. An action sheet shall be prepared for the approval of the new interest rate. q Service Charge Subject to a 1% one-time service fee payable in advance. q Area Coverage Properties within south of Pasig, CALABARZON & Gapan/ Cabanatuan areas. Note: Policy exception may be allowed. Microfinance
Microfinance are small loans granted to the basic sectors, on the basis of the borrower’s cash flow and other loans granted to the poor and low-income household for their micro enterprises and small businesses to enable them to raise their income levels and improve their living standards. q Target Market The poor and low-income entrepreneurs such as street vendors, small “sari sari” store operators, traditional food processors, market vendors and the likes whose segments largely comprise the poor but not the poorest, who live barely above the poverty line and suffer from inadequate access to formal credit. q Eligible Borrowers o The loan program is for women only o Group of five (5) individual borrowers q Loanable Amount o Minimum of P1,000.00 per individual borrower o Maximum of P5,000.00 per individual borrower q Term o The loan is repayable within six (6) months on weekly installments. q Interest rate o 9% add-on rate deducted in advance. q Collateral o Clean o The credit facility is unsecured. Since the program is on group basis, each member guarantees repayment of individual loans. q Requirements and Conditions q Credit Requirements o Favorable credit investigation result o Profitable business; income sufficient to service amortizations q Documentation Requirements o Duly signed application form o Duly signed Promissory Note and Disclosure Statement o Memorandum of Agreement signed by all borrowers and authorized Bank officer o Acceptable IDs o One (1) 2 x 2 ID picture Barangay Clearance or Barangay Certification of good morale character. “ My Car Loan” AUTO FINANCING FACILITYThis credit facility will target clients, old and new who are interested to own a vehicle. The bank shall finance only a portion of the suggested selling price.
Brand New ----------------------------------
CHECKLIST OF LOAN REQUIREMENTS
EMPLOYED INDIVIDUAL BORROWERS
Spouses should also submit the same to the bank;
(Perspective, Rear and Inside)
FOR SELF EMPLOYED BORROWERS / BUSINESS OR SINGLE PROPRIETORSHIPS, PARTNERSHIPS, OR CORPORATIONS
(Perspective, Rear and Inside)
ADDITIONAL REQUIREMENTS IF:
DEVELOPMENTAL LOAN
CONSTRUCTION LOAN
FOR SPECIAL FINANCING
FOR QUEDAN
FOR UNTITLED PROPERTIES
LACKING REQUIREMENTS FOR TAX DEC COLLATERALS
|
| < Prev | Next > |
|---|