Arangtoda Loan

Product Details

This loan product caters tricycle drivers and operators to assist them financially in dealing with their business and operational needs.

Features

  1. Loanable amount up to P30,000 maximum per borrower
  2. Interest rate is 30%-36% and 3% Service Charge per Annum
  3. Mode of Payment is Daily, Weekly or Monthly. Payment can be made through over the counter payment or through authority to deduct on savings account.
  4. Term of loan is from three (3) to six (6) months
  5. Collateral is required for SAFEKEEP
  6. Co-Maker is Required
  7. If the borrower is married, his/her spouse is required to submit loan requirements and signed all loan documents signifying his/her consent.

Requirements

  1. Updated OR and CR
  2. Updated Franchise and Permit to Operate with confirmation of unit issued by franchising and regulatory board
  3. Picture of Unit/Tricycle
  4. Stencils of Engine and Chassis number
  5. Authority to deduct from savings account
  6. Deed of Sale with Valid I.D if necessary
  7. Proof of all income declared in Income Statement
  8. Safekeep or Collateral offer (Brand: Kawasaki, Yamaha, Honda, Suzuki with 5-year span based on year model)

Other loan requirements: Open a GRBP regular savings account, 2 pcs. Latest 2×2 picture, atleast 1 Valid I.D, Barangay Clearance, Cedula/CTC, TIN/SSS/GSIS Number

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