A loan product provided for a depositor who intends to avail of a loan against the amount of his/her deposit. The proceeds of the loan can be used for business, agriculture, or providential purposes.
| Available in all Mactan Bank Offices. | |
|---|---|
| Max. Loanable Amount | 90% of the amount of deposit of the borrower regardless whether the interest is discounted or not. |
| Interest Rate | The interest rate for deposit hold-out will be at least 3% plus the interest on deposits. |
| Max. Term | The loan is co-terminus with the term of the deposit offered as collateral. Maturity date of the deposit can be longer that the term of loan. In case the term of the loan is beyond the term of the deposit, the term of the said deposit must be extended up to the maturity of the loan. |