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GROUP LOAN AND SAVINGS
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> open to any livelihood group of 5 – 15 members [half of which should be coop/association members]
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> minimum loan amount is Php25,000.00
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> deductions include: 2% monthly interest; 1% sevice fee; Php500 for Php25K-P50K loan amount OR Php1,000 for P51K and above loan amount
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> payable in 12 months maximum
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> a 2% penalty on the unpaid amortization shall be imposed after a grace period of 5 days
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> for the group savings, a minimum monthly balance of Php10,000.00 should be maintained to earn interest income of 2% per annum
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