• Caters to pensioners who are receiving monthly pension from SSS, GSIS or PVAO with 80% of its monthly pension allocated as its monthly amortization allowing clients to receive their allotment at lumpsum giving clients ultimate satisfaction of their retirement benefits during the prime years of their lives

TARGET CLIENTS:

• Pensioners aging not more than insurable age coverage (must not exceed 70 years old on the time when the loan matures).

Loan Amount: Maximum of 80% monthly pension can be allocated as its monthly amortization but but must not exceed P300,000.00

Term: Maximum of 3 years

Mode of Payment: Monthly

Qualification Requirements:

1. 2x2 or 1x1 ID Picture (4 copies)

2. Valid Photo Bearing ID

3. Any proof of the client as pensioner / Cert. of Pension / Voucher / Bank Statement (3 months)

4. Photocopy of Passbook / ATM

5. Proof of income to support living & other expenses (if necessary)

6. AVS for Personal Properties (if applicable & necessary)

7. Chattel Mortgage (if applicable & necessary)

8. Co-maker Statement

           Valid I.D. Of Co-maker

           Proof of Income of co-maker w/ attachments

           Cash Flow

9. Authority to Debit

Implementing Guidelines:

1. Must be a legitimate pensioner of SSS, GSIS, AFP and the PNP

2. ATM / Passbook of the pensioner shall serve as the collateral and shall be kept by the bank for the whole term of the loan.

3. If an ATM or Passbook has been authorized to be part of collateral to ensure monthly payment, an “Affidavit of Voluntary

    Surrender of ATM or Passbook must be executed” or Special Power of Attorney which will be attached to the loan file.

4. The borrower’s age must not exceed 70 years old by the end of the loan period.

5. Loan renewals are only allowed after the borrower has paid at least 6 monthly amortizations

6. Must establish a permanent residency

7. Life insurance must cover the full duration of the loan term.