Private and LGU Salary Loan – Mount Carmel Rural Bank Inc.

SALARY LOAN

Private Company and Local Government Unit

Salary Loan

A salary loan granted to Private Institutions and Government Agencies employees with or without Memorandum of Agreement between Mount Carmel Rural Bank Inc., with one (1) year regular/permanent employment status in the company. (Collateralized/Non-Collateralized)

Eligible Borrowers

Individuals at least 18 years old up to 65 years old with regular employment; at least 1 year in service / established 1 year working experience if the borrower transferred to another employer.

Loan Purpose

Personal Consumption and Start-up capital for business

Amount of Loan

Up to P1,000,000.00

Offers Competitive Interest Rate

Flexible Terms and Mode of Payment

Basic Requirements:

• 2 Valid ID’s of Applicant/s
• Latest Residence Certificate of Applicant/s
• Latest ID Picture of Applicant/s (2×2) 2pcs.
• Latest Income Tax Return (if any) / T.I Nos. of Borrowers
• Proof of Billing
• Bank’s Statement (if applicable)

If Applicant is Employed:
• Latest Certificate of Employment or
• In lieu of COE, duly signed employment validation
• Latest 3 months Payslip
• Employment Contract (if applicable)

If Applicant is a Proprietor:

• Business Permit (Barangay Business Permit, SEC Registration, DTI Permit, Mayor’s Permit)

• Latest General Information Sheet

• Articles of Incorporation or Partnership

• Board Resolution Authorizing the Loan

• 3 years Latest Audited Financial Statement (AFS)

• Proof of Business Transaction (if applicable)

• 2 Valid ID’s of Authorized Signatories/Representative (Applicant)