FICCO
PMS
RD
3 TOPIC
FICCO
LOAN
SERVICES
Who will qualify for a loan?
1. Completed the prescribed ½ day
Pre-membership Seminar (PMS);
2. Good character with visible source
of income;
3. Share Capital of at least 3,000
pesos;
Who will qualify for a loan?
4. Average monthly Savings balance
of at least P500;
5. Enrolled with FICCO-MBA;
6. Completed 4-month probationary
period.
Basis in granting loans
1.
2.
3.
4.
5.
Character & Capacity to pay;
Classification as a member;
Capital share & savings deposits;
Condition;
Collateral
Membership Classification
•
•
•
•
•
•
•
•
CLASS “A1+”
CLASS “A1”
CLASS “A”
CLASS “B” – RELOAN
CLASS “B” – FTTB
CLASS “C”
CLASS “D”
CLASS “E”
8 membership classifications
determined by member’s
Character & Capacity to pay.
Guides management and Credit
Committee to decide how much
loan one member may avail!
Loan multiple
For Regular Loan
Class A1+ Savings is more than 60% of Encumbered Deposit
Savings is between 45 to 59% of Encumbered Deposit
Savings is less than 45% of Encumbered Deposit
For Seal & Halo
Savings is more than 40% of Encumbered Deposit
Savings between 20 to 39% of Encumbered Deposit
Savings is less than 20% of Encumbered Deposit
x 400%
x 350%
x 300%
x 400%
x 350%
x 300%
Loan multiple
Class A1
For Regular Loan
Savings is more than 60% of Encumbered Deposit
Savings is between 45 to 59% of Encumbered Deposit
Savings is less than 45% of Encumbered Deposit
For Seal & Halo
Savings is more than 40% of Encumbered Deposit
Savings between 20 to 39% of Encumbered Deposit
Savings is less than 20% of Encumbered Deposit
x 350%
x 325%
x 290%
x 350%
x 325%
x 290%
Loan multiple
Class A
For Regular Loan
Savings is more than 50% of Encumbered Deposit
x 325%
Savings is between 40 to 49% of Encumbered Deposit x 300%
Savings is less than 40% of Encumbered Deposit
x 275%
For Seal & Halo
Savings is more than 40% of Encumbered Deposit
x 325%
Savings between 20 to 39% of Encumbered Deposit
x 300%
Savings is less than 20% of Encumbered Deposit
x 275%
Loan multiple
Class B
Total share
Total savings
x
x
190%
210%
Class C
Total share
Total savings
x 165%
x 185%
Class D
Class E
Total share & Savings x 150%
Total share & Savings x 100%
Interest
on Loan & Service Fees excluding Agricultural Loans;
Loan Term
Interest
Service Fees
Less than 1 year
8.0% p.a.
1.00% for the whole term
12 months
8.0% p.a.
1.75% for the whole term
13 to 24 months
8.5%p.a.
2.25% for the whole term
25 to 36 months
9.0% p.a.
2.75% for the whole term
37 to 48 months
9.5%p.a
4.50% for the whole term
49 to 60 months
10.0% p.a.
5.50% for the whole term
Interest on Loan & Service Fees for Agri.- Loans
Crop type
Term (Max) Mode of
Payment
Interest
Rice & Corn
Production
6 months
6.50% for 6
months
2.00%
Sugar Cane
15 months Lump
Sum
12 months Lump
Sum
12 months Every 6
months
13.0% p.a.
5.00%
13.0% p.a.
5.00%
13.0% p.a.
5.00%
6 months
6.50% p.a.
2.00%
Cassava
Others Crops
Aqua Culture
Lump
Sum
Lump
Sum
Service Fee
Equity for MVL
Vehicle
Equity for
Class Breloan
30%
Max. Term
Loan Value
Brand New
Equity
Equity for
for Class Class A
A1+/A1
20%
25%
96 mos.
100%
Surplus
25%
30%
35%
48 mos.
80%
2nd hand
25%
30%
35%
48 mos.
75%
Types of Loans
Loans are designed to cater to the needs
and wants of the members.
FICCO is encouraging its members to avail
more productive loans!
Economic activities are increased!
TYPES OF LOANS
 Regular Loans
1. Productive Loans (RL-Prod)
2. Provident Loans (RL-Prod)
 Business Related loans
3.
4.
5.
6.
Small Enterprise Assistance Loan (SEAL)
Commercial Credit Line (CCL)
Vendors & Drivers’ Assistance Loan
Repackaged Special Business Loan(RSBL)
TYPES OF LOANS
 Regular Agricultural Loan (RAL)
7. Rice & Corn Crop Loan
8. Cassava Crop Loan
9. Sugar Cane Crop Loan
10.Other Crop Loan
11.Agricultural Land Purchase Loan
12.Aqua Culture Loan
13.Livestock (Swine Raising) Loan
TYPES OF LOANS
 Housing Related Loans
14. Housing Loan Assistance (HALO)
15. House Construction Loans (HCL)
 Financing Loans
16.
17.
18.
19.
Motor Vehicle Loan (MVL)
Motor Cycle Loan (MCL)
Appliance Loan (APL)
Cell Phone Loan (CPL)
TYPES OF LOANS
 Medical Related Loans
20.
21.
22.
23.
Medical Loan
Medicine Loan
Optical Loan
Dental Loan
 Travel & Tour Packages
24. Travel & Tour Loan
25.Special Travel & Tour Loan
TYPES OF LOANS
 Commodity Loans
26. Rice Loan
27.Gift Check Loans;




SM
GAISANO
ORORAMA
Other accredited stores
TYPES OF LOANS
 Other Loans
28. Petty Cash Loan
29. Calamity Loan
30. Jewelry Loan
31. Salary Loan
32. Memorial Services Loan
33. Educational Loan
TYPES OF LOANS
 Loan Against Deposits
34.
35.
36.
37.
Loan Against Deposits
Loan Against Time Deposits
Loan Against Retirement Savings
Loan Against Installment Savings
Maximum loan ceiling
 First time borrower;
• P 50K
– Share/Savings
• P 51K to P100K – Chattel Mortgage
• P101K to P 2.0M – Real Estate Mortgage
Maximum loan ceiling
 Class “B” re-loan;
• Up to P 60K
– no collateral
• P 61K to P200K – Chattel Mortgage
• P201K to P 2M – Real Estate Mortgage
Maximum loan ceiling
• Re-loans:
▫ Class “A1+” & “A1” & “A”;
 P 60K & below – no collateral with 1 comaker
 P 61K to P 500K– Chattel mortgage on HVC
 P 501K to P 2M – Real Estate Mortgage
Maximum loan ceiling
• For Class A1 & A1+
▫ P 2.5 million – if providential
▫ P 5.0 million – if productive
Loan Requirements:
Co-makers
Utility bills
Proof of source of income
Residence Certificate- Current year
Loan Requirements:
For Chattel Mortgage:
 Certificate of ownership/ Affidavit of
ownership or O.R. & CR for motor
vehicles
For Real Estate Mortgage:
 Original Title, Tax Clearance, Tax
Declaration, Sketch Plan, Vicinity Map,
Certificate of non-tenancy for agri-land,
SPA if the loaner is not the owner
Who will qualify as co-makers?
 Members with;
 Share Capital of P3,000 &
Savings of P 500
 Four months or more as
members
 Whose accounts not delinquent
 Members with Restructured
loans are also prohibited from
signing as co-makers.
Who will qualify as co-makers?
Class “A1+”, “A1” & “A”
Members are allowed to sign
up to three borrowers
Class “B” & below are allowed
to sign up to two other
borrowers.
“Bundak” Deposit RULE
 Any deposit above 10% of existing Share/Savings
to cover deficiency in the requirement is
“Bundak” deposit.
 “Bundak” deposits are not included in the
member’s partial loan release.
 Class “B- FTTB”, “C”, “D” & “E” members who
will make “Bundak” deposits will have to wait for
45 days before their loans are released.
 Class “A1” , “A” & “B Re-loan” are exempted from
“Bundak” deposit rule.
Encumbered Deposits
 Deposits used as equity to a loan are
called “Encumbered Deposits”
 Non- withdrawable until the loan is fully
paid.
 Encumbered deposit for LAD is based on
the loan balance
 RS/IS deposits can now be used as
encumbrance to loans!
When are loan accounts considered
delinquent?
 When Loan accounts are paid after the
agreed Due Date.
 When Loan Payment is lower than the
agreed Amortization.
Delinquency
Notices & Demand Letters
No. of missed
Payment
Type of Notice/Action to
be taken
Remarks
1 month
Collection Notice
1 step classification
downgrade
2 months
1st Demand Letter
3 steps classification
downgrade
3 months
Final Demand Letter
Lodging to Past Due
4 or more
months
Account is Turned
over to the Legal
Attorney’s Demand Letter Department
Delinquency
• Fines of 3% per month of amortization
until the 3rd month of the delinquency.
• 3% of the entire loan balance is collected
starting on the 4th month of the
delinquency.
“Grace Period”
• A period of time in which someone is late with a
payment, but penalties are not incurred.
• Members are given 3 days before fines are
computed
• Amortization is still past due & classification is
reduced.
END