SEAMAN'S LOAN

SEAMAN’S LOAN GUIDELINES (1 day release)

APPLICATION REQUIREMENTS	·         21 – 59 years old upon loan maturity ·         Filipino ·         Must have a landline telephone/ cellphone ·         Experienced seaman or first timers ·         Any rank or position ·         Married / Single
BASIC DOCUMENTARY REQUIREMENTS	1.       Completely filled up application form 2.       3 pcs. 2x2 picture 3.       Photocopy of 2 Valid IDs 4.       Proof of Billing (electric / water Bill)
MAJOR REQUIREMENTS	5.       Copy of passport 6.       Copy of Seaman’s Book, Seafarer Registration certificate 7.       Copy of latest Contract of Deployment 8.       Copy of allotment, if required
CO-BORROWER	Spouse, if married; immediate family member if single, or children 18 years old above

LOANABLE AMOUNT                      : Php 15,000.00 – 300,000.00

TERMS                                                  : 3 to 9 months (depends on the contract of seaman)

CHARGES                                            

                Documentary Stamps                    : depends on the amount financed

                Loan Redemption Insurance       : depends on the amount financed

                Notarial fee                                        : Php 200.00                  

	OPTION 1	OPTION 2
INTEREST RATE	5% add-on per month Of the amount financed	3% add-on per month Of the amount financed
PROCESSING FEE	5.5% of the amount financed	8%of the amount financed