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Written by Administrator
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Saturday, 28 November 2009 |
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| Loan for acquisition of house and lot, townhouse, or condominium unit, house construction or renovation, reimbursement of acquisition or construction cost |
Loanable Amount
| : Php 300,000 to Php 3 Million
| Loan Term
| : Up to 10 years, repriceable after 5 years
| | Interest Rate | : 12% per annum (fixed for 5 yrs, repriceable after 5 yrs) | | Insurance | : FREE fire insurance for the 1st year |
Requirements |
: 1. Filled-up application form
2. Two (2) Valid IDs (one government issued)
3. Pictures
4. Marriage contract (if any)
If employed:
5. Certificate of employment and compensation
6. ITR for the last 3 years
If in business:
7. ITR of business
8. Business permits, licenses and pictures
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| Five-year time deposit with FREE life insurace, interest withdrawable monthly, tax-free |
Deposit Amount
| : Minimum of Php 100,000.00 | | Interest Rate | : Same as Regular Time Deposit | | Life Insurance | : Equivalent to the amount of the deposit, but not to exceed P1 Million |
Requirements |
: 1. Two (2) Valid IDs (one government issued)
2. Depositor should be between 18 to 60 years old.
3. Depositor must have or must open a Savings Account with the bank upon
placement of deposit.
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| OFW "Our Future Wealth" SAVINGS |
| Ten-year time deposit with FREE life insurance, callable in 5 years, tax-free |
Deposit Amount
| : Minimum of P100,000.00 (multiples of P100,000) | | Interest Rate | : 7% per annum | | Life Insurance | : Double the amount of the initial deposit |
Requirements |
: 1. Two (2) Valid IDs (one government issued)
2. Depositor must be an OFW, between 18 to 55 years old.
3. Depositor must have or must open a Savings Account with the bank upon
placement of deposit.
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Illustration |
An OFW opens an account with Bangko Kabayan and deposits P100,000.00 under the OFW Savings Program. Automatically, there is a corresponding life insurance equivalent to the matured value (P200,000.00). At the end of 10 years, the OFW will get the amount of P200,000.00. If, in case, the depositor dies anytime after depositing, the insurance company will give to the beneficiaries (of the insurance) the amount of P200,000.00. On top of this, the amount of P200,000.00 will be given to the beneficiaries of the time deposit at the end of 10 years.
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Last Updated ( Wednesday, 17 February 2010 )
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