{"id":427,"date":"2018-08-29T02:06:11","date_gmt":"2018-08-29T02:06:11","guid":{"rendered":"http:\/\/mactanbank.com\/?page_id=427"},"modified":"2019-03-08T01:39:36","modified_gmt":"2019-03-08T01:39:36","slug":"pensioners-loan","status":"publish","type":"page","link":"https:\/\/mactanbank.com\/pensioners-loan\/","title":{"rendered":"Pensioner&#8217;s Loan"},"content":{"rendered":"<p><!--A loan product designed for farmers and fisher folks or agricultural corporations\/institutions to be used as additional capital; purchase of raw materials (seedlings, fertilizers, fishing equipment\/machineries) and other related agricultural purposes.--><\/p>\n<table class=\"table my-5\">\n<thead>\n<tr>\n<th class=\"text-center\" style=\"border-top: 0;\" colspan=\"2\">Available in all Mactan Bank Offices.<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<th scope=\"row\">Loanable Amount<\/th>\n<td>Up to P 150,000.00<\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Interest Rate<\/th>\n<td>21% per Annum<\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Max. Term<\/th>\n<td>2 years<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 style=\"text-align: center;\">Loanable Amount<\/h2>\n<table class=\"table my-5\">\n<thead>\n<tr>\n<th>Age upon maturity of the loan<\/th>\n<th>Maximum Loanable amount<\/th>\n<th>Term<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>65 years old below<\/td>\n<td>X 16 months of the monthly pension but not to exceed P 150,000.00 (aggregate)<\/td>\n<td>24 months<\/td>\n<\/tr>\n<tr>\n<td>66 to 70 years old<\/td>\n<td>X 12 months of the monthly pension but not to exceed P 100,000.00 (aggregate)<\/td>\n<td>18 months<\/td>\n<\/tr>\n<tr>\n<td>71 to 80 years old<\/td>\n<td>Maximum of P 50,000.00<\/td>\n<td>12 months<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<div class=\"font-italic small\">\n<p>In addition, all pensioner\u2019s loan shall be covered with insurance equivalent to the amount of the principal loan.<br \/>\nA table of insurance premium corresponding the loan shall be emailed to you for your reference.<\/p>\n<p>Also, for the 71- 80 years old bracket, only existing borrowers can be accommodated.<\/p>\n<\/div>\n<p><!--\n\n\n<h1 class=\"text-center my-5\">FREQUENTLY ASKED QUESTIONS<\/h1>\n\n\n\n\n<div class=\"my-5\">\n\n\n<div id=\"accordion\" role=\"tablist\">\n\n\n<div class=\"card card-accordion\">\n\n\n<div class=\"card-header card-accordion-header\" role=\"tab\" id=\"headingOne\">\n\n\n<h5>\n        <a data-toggle=\"collapse\" href=\"#collapseOne\" aria-expanded=\"true\" aria-controls=\"collapseOne\">\n1. What are the requirements?\n\n\n<div style=\"float: right\"><i class=\"fa fa-question-circle\"><\/i><\/div>\n\n\n<\/a><\/h5>\n\n\n<\/div>\n\n\n\n\n<div id=\"collapseOne\" class=\"collapse show\" role=\"tabpanel\" aria-labelledby=\"headingOne\" data-parent=\"#accordion\">\n\n\n<div class=\"card-body card-accordion-body\">\n\n\n<h4>(Corporate)<\/h4>\n\n\n\n\n<ul>\n \t\n\n<li>Duly registered with appropriate government regulating body.<\/li>\n\n\n \t\n\n<li>For borrowers applying for P500,000 and below, the corporation\/institution should be operating for at least one (1) year prior to loan application of the same business applied for.<\/li>\n\n\n \t\n\n<li>For borrowers applying for P500,001 and above, the corporation\/institution should be operating for at least two (2) years prior to loan application of the same business applied for.<\/li>\n\n\n \t\n\n<li>No adverse news on the industry.<\/li>\n\n\n \t\n\n<li>Without social resistance in the area of operation.<\/li>\n\n\n \t\n\n<li>Good credit standing with other banks & financial institutions.<\/li>\n\n\n<\/ul>\n\n\n\n\n<h4>(Individual)<\/h4>\n\n\n\n\n<ul>\n \t\n\n<li>The borrower must be 18-70 years old at the time the loan was granted.<\/li>\n\n\n \t\n\n<li>Must have no pending criminal cases.<\/li>\n\n\n \t\n\n<li>Good credit standing with other banks & other financial institutions.<\/li>\n\n\n<\/ul>\n\n\n<\/div>\n\n\n<\/div>\n\n\n<\/div>\n\n\n\n\n<div class=\"card card-accordion\">\n\n\n<div class=\"card-header card-accordion-header\" role=\"tab\" id=\"headingTwo\">\n\n\n<h5>\n        <a class=\"collapsed\" data-toggle=\"collapse\" href=\"#collapseTwo\" aria-expanded=\"false\" aria-controls=\"collapseTwo\">\n2. How long does it take to get a loan?\n\n\n<div style=\"float: right\"><i class=\"fa fa-question-circle\"><\/i><\/div>\n\n\n<\/a><\/h5>\n\n\n<\/div>\n\n\n\n\n<div id=\"collapseTwo\" class=\"collapse\" role=\"tabpanel\" aria-labelledby=\"headingTwo\" data-parent=\"#accordion\">\n\n\n<div class=\"card-body card-accordion-body\">\n        We can guarantee a maximum of 30-40 minute processing time.<\/div>\n\n\n<\/div>\n\n\n<\/div>\n\n\n\n\n<div class=\"card card-accordion\">\n\n\n<div class=\"card-header card-accordion-header\" role=\"tab\" id=\"headingThree\">\n\n\n<h5>\n        <a class=\"collapsed\" data-toggle=\"collapse\" href=\"#collapseThree\" aria-expanded=\"false\" aria-controls=\"collapseThree\">\n3. Are there any hidden charges?\n\n\n<div style=\"float: right\"><i class=\"fa fa-question-circle\"><\/i><\/div>\n\n\n<\/a><\/h5>\n\n\n<\/div>\n\n\n\n\n<div id=\"collapseThree\" class=\"collapse\" role=\"tabpanel\" aria-labelledby=\"headingThree\" data-parent=\"#accordion\">\n\n\n<div class=\"card-body card-accordion-body\">\n        We assure you that there are none.<\/div>\n\n\n<\/div>\n\n\n<\/div>\n\n\n\n\n<div class=\"card card-accordion\">\n\n\n<div class=\"card-header card-accordion-header\" role=\"tab\" id=\"headingFour\">\n\n\n<h5>\n        <a class=\"collapsed\" data-toggle=\"collapse\" href=\"#collapseFour\" aria-expanded=\"false\" aria-controls=\"collapseFour\">\n4. Do I need to open a savings account with you to get a loan?\n\n\n<div style=\"float: right\"><i class=\"fa fa-question-circle\"><\/i><\/div>\n\n\n<\/a><\/h5>\n\n\n<\/div>\n\n\n\n\n<div id=\"collapseFour\" class=\"collapse\" role=\"tabpanel\" aria-labelledby=\"headingFour\" data-parent=\"#accordion\">\n\n\n<div class=\"card-body card-accordion-body\">\n        No, there is no need.<\/div>\n\n\n<\/div>\n\n\n<\/div>\n\n\n\n\n<div class=\"card card-accordion\">\n\n\n<div class=\"card-header card-accordion-header\" role=\"tab\" id=\"headingFive\">\n\n\n<h5>\n        <a class=\"collapsed\" data-toggle=\"collapse\" href=\"#collapseFive\" aria-expanded=\"false\" aria-controls=\"collapseFive\">\n5. Where should I go?\n\n\n<div style=\"float: right\"><i class=\"fa fa-question-circle\"><\/i><\/div>\n\n\n<\/a><\/h5>\n\n\n<\/div>\n\n\n\n\n<div id=\"collapseFive\" class=\"collapse\" role=\"tabpanel\" aria-labelledby=\"headingFive\" data-parent=\"#accordion\">\n\n\n<div class=\"card-body card-accordion-body\">\n        Please go to the nearest <a href=\"\/mactanbank\/about-us\/#branchLocation\">Mactan Bank Branch Office<\/a>.<\/div>\n\n\n<\/div>\n\n\n<\/div>\n\n\n<\/div>\n\n\n<\/div>\n\n\n--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-product.php","meta":{"footnotes":""},"class_list":["post-427","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pensioner&#039;s Loan - Mactanbank: A Rural Bank | Official Website<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mactanbank.com\/pensioners-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pensioner&#039;s Loan - Mactanbank: A Rural Bank | Official Website\" \/>\n<meta property=\"og:description\" content=\"Available in all Mactan Bank Offices. 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