Economy in the countryside especially in the Province of Iloilo is clearly growing and abruptly improving. Many business establishments and agencies may it be a government or private institution are constructing and installing. Therefore, employment rate are also increasing. With this, RB Dumangas, Inc. created and designed a credit facility exclusively for employees/ workers who are in need of financial assistance. Once an employee is regularly employed for at least 6 months, he/she can already avail this loan facility. Each regular employee has already the option or privilege to avail this if ever his/her financial needs arises such as personal and family consumption, payment of debt, purchase of personal properties, medication, additional capital for their small businesses, etc. For this loan product, RB Dumangas, Inc. can already help improve and sustain each employee daily lives.
Salary Loan (For Individual - Without MOA)
| Additional Qualifications |
- College graduate or undergraduate up to college level
- Regular employee and at least 6 months employed
- With monthly net salary income of:
- P 5,000.00 up, if single or widow without dependents
- P10,000.00 up, if married, single or widow with dependents
- Co-makers/co-borrower must be his/her co-employee, if immediate relative (with own house even without income), if renting (must have income), if close friend (must have income and own house)
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| Terms |
- 3 months to 36 months term.
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| Interest Rate |
- 27% p.a. or 2.25%/month (including service fee charge)
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| Loanable Amount |
- 30% of the monthly net pay times no. of monthly installment (term) but not to exceed P 200,000.00
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| Security |
- Post Dated Check (PDC) - if loaned amount is P 20,000 up or ATM
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| Mode of Payment |
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Salary Loan (For Group Approach - With MOA)
| Additional Qualifications |
- College graduate or undergraduate up to college level
- Regular employee and at least 6 months employed and Co – Terminus Employees, including public officials provided that contract should not be less than 1 year and term of loan must end 2 months before the end of the employment contract.
- Memorandum of agreement must be signed between the Head of the Institution authorizing its Disbursement Officer/Cashier to automatically deduct the amortization, and the president of the bank itself.
- With monthly net salary income of:
- P 5,000.00 up, if single or widow without dependents
- P10, 000.00 up, if married, single or widow with dependents.
- Co-makers/co-borrower must be his/her co-employee, if immediate relative (with own house even without income), if renting (must have income), if close friend (must have income and own house)
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| Terms |
- 3 months to 48 months term.
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| Interest Rate |
- 7.5% p.a. or .625%/month (with 3% fixed service fee charge)
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| Loanable Amount |
- Up to P 1,000,000 provided monthly net salary income should not be less than 2,000 after deduction of RBD amortization.
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| Security |
- MOA and Deed of Assignment
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| Mode of Payment |
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