Loans

Consumption Loan

A loan facility designed to provide immediate funds for personal or household consumption.

Interest and Term

Below are the Nominal Interest Rates per term as of June 1, 2024, approved by the Board of Trustees. Interest is computed based on the diminishing balance of the loan.

Effective interest rate (EIR) is the actual interest rate the borrower pays on the loan after taking into account fees/charges (e.g. documentary fee, filing fee, etc.) incidental to the loan availment.

Term  (Months) Nominal Interest Rate (Per Annum) Effective Interest Rate (EIR)*
12 8.00% 10.40%
24 10.00% 10.50%
36 11.00% 12.36%
48 12.00% 13.30%
60 13.00% 14.32%

*Assumed Loan Amount is P100,000.00

Loan Amount

Maximum loanable amount is subject to Single Borrower’s Limit (SBL) and Take-Home-Pay (THP) policy of the borrower’s corporate member

Requirements

  1. Proof of source of income (e.g., latest one (1) month pay slip, pension pay slip, etc.)
  2. Any government-issued ID
  3. Accomplished loan application form.

Loan Proceeds

Proceeds from the loan shall be released through one of the following methods, at the borrower’s option:

  1. MESALA savings deposit;
  2. Deposit to borrower’s bank account (Banco de Oro or Bank of the Philippine Islands); or
  3. Check payable to borrower

Loan Calculator

Type of Loan
Loan Amount
Loan Term
Net Proceeds:
Amortization:
Effective Monthly Interest Rate:
Nominal Rate Based on Diminishing Balance:
Documentary Stamp Tax:
First Month Interest:

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