Agricultural Loan
A type of loan that is designed for farmer members. To provide finance agricultural activities
Loan Requirements
- Additional Share Capital must be at least 10% of the amount applied
- Must be a member of at least 3 years
- Farm Plan & Budget / Project Study d. IS A PERMANENT RESIDENT WITHIN THE AREA OF OPERATION OF MMC
- The house must be located within the area of operation of MMC
- Acceptable Titled Lot as additional collateral including its Tax Clearance & receipt, vicinity map/sketch plan
- Special Power of Attorney (SPA) if the applicant is not the owner of the titled lot
- Affidavit of Non-tenancy i. Minimum Savings deposit of P5,000.00
- ONE (1) CO-MAKER THAT HAS NO DELINQUENT ACCOUNT, TWO (2) CO-MAKERS IF ABOVE ONE MILLION (PHP1,000,000.00), HOWEVER, IF THE COLLATERAL OFFERED IS SUFFICIENT, CO-MAKER IS NOT REQUIRED.
- One (1) Witnes
Additional Terms and Condition
- Transfer Certificate of Title (TCT)
- Original Certificate of Title (OCT)
- Condominium Certificate of Title (CCT)
Charges
- Service Fee – 3% of the loaned amount if 25 months and above Service Fee – 2% of the loaned amount if 24 months and below.
- Notarial (PhP 125.00)
- Insurance - [{amount of loan ÷ 1000 x number of months x special rate provided by climbs} - less rebates, if there is any]
Max Loan Ceiling
(Capacity based unless stated otherwise)
- 5 million