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Barangay Loan with MOA
Barangay Loan with MOA
Pertains to loans granted to Barangay officials and employees of the respective Barangay. This loan requires a Memorandum of Agreement (MOA) between the Barangay and the Bank.
Eligibile Borrowers
Barangay officials/officers and staff at least 18 years old up to 65 years old.
Loan Purpose
Personal Consumption and Start-up capital for business
Amount of Loan
Minimum of ₱5,000.00, Maximum of ₱200,000.00
Mode of Payment
Payable semi-monthly or monthly depending on the payroll schedule and the term of office of the barangay official/officers/staff.
Interest Rate
20% per annum; diminishing (minimum)
24% per annum; diminishing (maximum)
Depending on the credit history of the borrower
Term
Maximum of two (2) years
Basic Requirements:
- 2 Valid ID’s of Applicant/s
- Latest Residence Certificate of Applicant/s
- Latest ID Picture of Applicant/s (2×2) 2 pcs.
- 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)
• In lieu of COE, duly signed employment validation
• Latest 3 months Payslip
• Employment Contract (if applicable)
Additional Requirements:
• Panunumpa sa Katungkulan or Appointment
• Loan Recommendation of Treasure and Brgy. Chairman
• Canvas of Votes (for elected officials)
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Contact Us:
Head Office Address:
J. M. Kalaw Street, Barangay 5, Lipa City, Batangas 4217
Email:
kapartner@mcrbi.com.ph
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