Features:

1) This loan is an granted only for the Regular Members of RDCMC.

2) This loan is an extension of that existing loans offered by the Cooperative.
3) This loan can be used on Vehicle Financing, Mortgage Financing and that of other Financing Activities as approved by the Bo
4) The availment of this loan prohibits the Regular Members on ALL LOAN AVAILMENTS until this is fully paid.
5) This can only be availed once in 5 years.
ctivities as approved by the Board.
s is fully paid.
Conditions on Application of Loan:
1) Must be a Regular Member of Cooperative.
2) Have a 2-year, uninterrupted membership on the Cooperative.
3) Not be delinquent or identified as in paying previous loans
4) An Employee of RD Group of Companies for atleast 10 years and 6 months.
5) Current Pay must be atleast 80% of the gross pay.
6) Assumed Net Pay after the loan availment must be atleast 40% of the gross pay.

Conditions on Asset Mortaged:

1) The original OR/CR (in case of Motor Vehicle) will be on the hands of the Cooperative. Only a
duplicate copy stamped with "Encumberred" be given to the Member availing the loan.
Validation
Coop
Coop
Coop
HR
HR
CreCo
 FACTORS TO BE CONSIDERED
1. Statutory Obligations
1.1 - Current Tax Implications
1.2 - SSS, PhilHealth, Pag-ibig Contri. (Current)
1.3 - Other and the like obligations

2. Company Obligations
2.1 - Cash Advances, Vales, Unliquidated Expenses and the like
2.2 - Unpaid HMOs
2.3 - Other and the like obligations

3. Personal Obligations
2.1 - Current Principal Loans + Interest, recognized except Coop (RD Credit, SSS, Pag-ibig)
2.2 - Other and the like obligations
 Personnel Department
Comp. & Ben HR
Comp. & Ben HR
Comp. & Ben HR

AR Personnel Accounting
AR Personnel / Comp. & Ben Accounting / HR
AR Personnel / Comp. & Ben Accounting / HR

Comp. & Ben HR

Comp. & Ben HR
 Separation Pay Collateral
Length Of Services (LOS) 10
Current Rate 10000
Base Separation Pay 100,000.00
Multiplier 75%
Gross Separation Pay 75,000.00
Less: Separation Pay Factors:
1. Statutory Obligations
2. Company Obligations 10,000.00
3. Personal Obligations 10,000.00
Net Separation Pay 55,000.00
Safety Ratio 80%
Separation Pay Loan / Loanable Extension* 44,000.00
 Loanable Amount Computation
Item Amount Rate Loanable Amount
Capital Contribution 35,000.00 2 ₱ 70,000.00
Savings 10,000.00 1 10,000.00
Loanable Extension* 44,000.00 1 44,000.00
Total Loanable Amount ₱ 124,000.00
Interest Per Year 9%
Total Interest ₱ 33,480.00

Loan Principal ₱ 124,000.00

Loan Interest 33,480.00
Total Loan Payable ₱ 157,480.00
Loan Term 3
Annual Amortization ₱ 52,493.33
Months in a year 12
Montly Amortization ₱ 4,374.44
Bi-monthly Amortization ₱ 2,187.22

Monthly Gross Pay ₱ 12,000.00

Deductions:
SSS 1,600.00
PhilHealth 300.00
Pag-ibig 400.00
HMO 1,200.00
Vales 2,000.00
Current Net Monthly Pay ₱ 6,500.00 0.54166667
Colateral Loan Deduction 4,374.44
Assumed Net Monthy Pay ₱ 2,125.56
Rate 17.71%
Status Disapproved
 Loan Proceeds Computation

Total Loan Payable ₱ 157,480.00

Existing Loans (Principal + Interest):
Salary 20,000.00
Appliance 14,000.00
Grocery 4,000.00
Emergency 500.00 38,500.00
Net Proceeds ₱ 118,980.00
Procedure:
1) Seek HR's advice if eligible to Separation Pay
2) Extend intentions on Separation Pay Colateral Loan.
3) Ask your Net Pay's Computation to satisfy conditions 4 and 5 of Loan availment.

Proof of Lenght of Service:

1) Employment Certificate from PMD Departement stating the number of years in service.
2) The above certificate must be signed by the current PMD Head.