First Country Bank

These are multi-purpose loans to full-time employees of private and public companies through an automatic salary deduction arrangement.

For:
Full time employees who need extra cash for personal needs or livelihood purposes.

Company’s Accreditation Criteria:

1. Duly SEC-registered corporation
2. Operating for at least 3 years
3. With at least 20 regular full-time employees

Eligibility:

1. Regular employees of private and public corporations
2. At least 2 years as a permanent employee
3. Should be between 21 to 55 years old
4. Gross monthly salary of at least P10,000
5. Monthly amortization not more than 30% of net take home pay
6. In good standing with the company
7. No pending application for resignation/retirement

Benefits:

• Affordable interest
• Quick approval process
• Convenient collection via automatic salary deduction

Rate:
1.67% per month

Fees:
Service charge
Notarial fee
Documentary stamps tax
Credit life insurance
Savings deposit

Minimum Loan:
P10,000

Maximum Loan:
Up to 3x gross monthly salary

Minimum Term:
6 months

Labels: Loans