Salary Loan - Barangay
It is offered to clients deriving their monthly income whose employment status may be a regular or co-terminus from serving as an elected or appointed barangay official without the necessity of putting up collaterals to respond to immediate financial needs.
Target Clients:
Barangay Elected Officials
Appointed Official limited to Barangay Treasurer and Barangay Secretary
Term: Term Maturity MUST NOT EXCEED Election schedule
Loan Amount: Depending on the agreed MOA Between the Bank and Barangay Council.
Mode of Payment: Monthly
Qualification Requirements:
1. 2x2 or 1x1 ID Picture (4 copies)
2. Valid Photo Bearing ID
3. Certificate of Canvass / Oath of Office / Appointment
(for Barangay. Sec. or Barangay. Treas. signed by the Barangay. Capt.) / Certification from DILG (for Barangay. Capt.)
4. Payroll (3 months) / Certification from Local DILG stating the monthly honorarium /
1 month of previous month payroll as basis certified by the Barangay. Captain.
5. Agreement Payroll Deduction
6. 2 Co-maker Statement (1-barangay captain & 1-any member of the council)
Valid I.D. of Co-maker
Proof of Income of co-maker w/ attachments
Cash Flow