| Available in all Mactan Bank Offices. | |
|---|---|
| Loanable Amount | Up to P 150,000.00 |
| Interest Rate | 21% per Annum |
| Max. Term | 2 years |
Loanable Amount
| Age upon maturity of the loan | Maximum Loanable amount | Term |
|---|---|---|
| 65 years old below | X 16 months of the monthly pension but not to exceed P 150,000.00 (aggregate) | 24 months |
| 66 to 70 years old | X 12 months of the monthly pension but not to exceed P 100,000.00 (aggregate) | 18 months |
| 71 to 80 years old | Maximum of P 50,000.00 | 12 months |
In addition, all pensioner’s loan shall be covered with insurance equivalent to the amount of the principal loan.
A table of insurance premium corresponding the loan shall be emailed to you for your reference.
Also, for the 71- 80 years old bracket, only existing borrowers can be accommodated.