SLAGA LOAN PRODUCTS
Board
REGULAR - COA EMPLOYEES
Term: 1 to 5 years
Loanable Amount: Single Borrower’s Limit (SBL) = (13 x basic salary + capital contribution), net of outstanding obligations but not to exceed P1M
Security: Insurance due to death and default payment
Mode of Payment: Salary deduction
Documentary Requirements:
– Duly accomplished Loan Application form
– Borrower’s COA ID (photocopy or scanned w/ 3 specimen signatures)
– Borrower’s recent pay slip (photocopy or scanned)
Term: 1 to 2 years
Loanable Amount: P200,000.00 subject to SBL, net of outstanding obligation
Security: Insurance due to death and default payment
Mode of Payment: Salary deduction
Documentary Requirements:
– Duly accomplished Loan Application form
– Borrower’s COA ID (photocopy or scanned w/ 3 specimen signatures)
– Borrower’s recent pay slip (photocopy or scanned)
Term: 1 to 2 years
Loanable Amount: Single P200,000.00 subject to SBL, net of outstanding obligation
Security: Insurance due to death and default payment
Mode of Payment: Salary deduction
Documentary Requirements:
– Duly accomplished Loan Application form
– Borrower’s COA ID (photocopy or scanned w/ 3 specimen signatures)
– Borrower’s recent pay slip (photocopy or scanned)
Term: 1 to 2 years
Loanable Amount: P100,000.00 subject to SBL, net of outstanding obligation
Security: Insurance due to death and default payment
Mode of Payment: Salary deduction
Documentary Requirements:
– Duly accomplished Loan Application form
– Borrower’s COA ID (photocopy or scanned w/ 3 specimen signatures)
– Borrower’s recent pay slip (photocopy or scanned)
Term: Maximum of 6 months
Loanable Amount: Maximum of 75% of capital contribution, net of fixed Capital Contribution but not less than P3,000
Security: Capital Contribution
Mode of Payment: OTC/PDCs; In case of default, automatically deducted to Capital Contribution
Documentary Requirements:
– Duly accomplished Loan Application form
– Borrower’s COA ID (photocopy or scanned w/ 3 specimen signatures)
SPECIAL - RETIRED COA EMPLOYEES
Term: 1 to 2 years
Loanable Amount: Max of 75% of capital contribution, net of fixed Capital Contribution but not less than P3,000
Security: Capital Contribution
Mode of Payment: Over-the counter (OTC)/Post-dated checks (PDCs)
Documentary Requirements:
– Duly accomplished Loan Application form
– Borrower’s COA ID or Valid Government-issued ID (photocopy or scanned w/ 3 specimen signatures)
Term: Maximum of 6 months
Loanable Amount: Maximum of 75% of capital contribution, net of fixed Capital Contribution but not less than P3,000
Security: Capital Contribution
Mode of Payment: OTC/PDCs; In case of default, automatically deducted to Capital Contribution
Documentary Requirements:
– Duly accomplished Loan Application form
– Borrower’s COA ID or Valid Government-issued ID (photocopy or scanned w/ 3 specimen signatures)
SPECIAL - SLAGA EMPLOYEES
Term: 1 to 5 years
Loanable Amount: Single Borrower’s Limit (SBL) = (13 x basic salary + capital contribution), net of outstanding obligations but not to exceed P1M
Security: Insurance due to death and default payment
Mode of Payment: Salary deduction
Documentary Requirements:
– Duly accomplished Loan Application form
– Borrower’s SLAGA ID (photocopy or scanned w/ 3 specimen signatures)
– Borrower’s recent pay slip (photocopy or scanned)
Term: 1 to 2 years
Loanable Amount: P200,000.00 subject to SBL, net of outstanding obligation
Security: Insurance due to death and default payment
Mode of Payment: Salary deduction
Documentary Requirements:
– Duly accomplished Loan Application form
– Borrower’s SLAGA ID (photocopy or scanned w/ 3 specimen signatures)
– Borrower’s recent pay slip (photocopy or scanned)
Term: 1 to 2 years
Loanable Amount: Single P200,000.00 subject to SBL, net of outstanding obligation
Security: Insurance due to death and default payment
Mode of Payment: Salary deduction
Documentary Requirements:
– Duly accomplished Loan Application form
– Borrower’s SLAGA ID (photocopy or scanned w/ 3 specimen signatures)
– Borrower’s recent pay slip (photocopy or scanned)
Term: 1 to 2 years
Loanable Amount: P100,000.00 subject to SBL, net of outstanding obligation
Security: Insurance due to death and default payment
Mode of Payment: Salary deduction
Documentary Requirements:
– Duly accomplished Loan Application form
– Borrower’s SLAGA ID (photocopy or scanned w/ 3 specimen signatures)
– Borrower’s recent pay slip (photocopy or scanned)
Term: Maximum of 6 months
Loanable Amount: Maximum of 75% of capital contribution, net of fixed Capital Contribution but not less than P3,000
Security: Capital Contribution
Mode of Payment: OTC/PDCs; In case of default, automatically deducted to Capital Contribution
Documentary Requirements:
– Duly accomplished Loan Application form
– Borrower’s SLAGA ID (photocopy or scanned w/ 3 specimen signatures)
-TERMS AND CONDITIONS-
1. Interest computation based on the outstanding balance of the loan at the beginning of an interest period or each installment period;
2. Nominal Rate/Interest Rate/Contractual Rate of 12% per annum
3. Fixed Equal Monthly Amortization (Principal and Interest) computed based on Effective Interest Rate (EIR) method with one month grace period
4. Effective Interest Rate (EIR) is higher than the nominal rate because it includes interest, fees and charges incident to the extension of credit
5. Upfront Charges/Deductions Collected:
- Service Fee – 2%
- Collection Fee (for salary deduction) – 2%
- Documentary Stamp Tax (DST) – P1.50 on each P200.00 or fractional part thereof, for loan amount of P250K and above, to be borne by the borrower
6. Advanced interest is not collected, except for Capital Loan
7. Insurance Premium of P12.50 for every P1,000 based on yearly outstanding principal
8. Surcharge/Penalties shall be collected on default payment of 1% per month
9. Available Net Pay for the Loan of P5,000.00
SLAGA
Savings and Loan Association of Government Auditors, Inc.
Commission on Audit Compound, Commonwealth Avenue, Barangay Batasan Hills, Quezon City, NCR, Philippines 1126