TRAVEL AND VACATION LOAN

OBJECTIVES:

1. To Maximize Loan Disbursement by having Additional Loan

Product.
2. To Increase the Competitiveness of CARE Loan Products.
3. To take advantage of the lifestyle trend that travels and
vacations are among life’s necessity in order to destress and
promote wellness.
 GENERAL GUIDELINES
Eligible Borrowers: Interest Rate Loan Charges Loan Term Penalty
*Must be a regular *2% per month Processing fee:  Php5,000 – 2.5% per
employee of MUTI 10,000 – 5 month of the
Group of Companies - 10% for 5 months  2.5% months past due
- 20% for 10 months  Documentary Stamp  amortization
*Male or Female Php10,001 AND (Principal plus
Tax (DST): P1.00 per UP – 10 months
    P200 loan Interest)
 
*CFI Client for at      
least 5 Cycles with an  
aggregate loan  
amount of not less    
than 350,000.00
 
 
 
 
 
 
PRODUCT FEATURES
Product Features TRAVEL AND VACATION LOAN
Frequency of Payments Monthly
Payment Mode For Employees - Salary Deduction; For CFI Clients - PDC
Security Requirements For CFI Clients, it must be secured with PDC

Interest Rate 2% monthly

Processing Fee 2.5% Cycle (fixed)
Loan Insurance Fee 5 per 1,000 amount of loan
Micro-insurance Premium depends on number of enrollees
Qualified dependents:
 Legal Spouse
 Maximum of three children
 Parents (for single clients)

Penalty 2.5% per month of the past due amortization (Principal plus
Interest)
Minimum Loan 5,000
Documentary Stamp Tax P1.00 per P200 loan
DOCUMENTARY REQUIREMENTS
 Loan Application
 Certificate of Employment (For MUTI Employees only)
 Latest Payslip (For MUTI Employees only)
 Promisory Note
 Co-maker with 2 Valid IDs (Postal, Voter’s ID, Diver’s
License, Company ID etc.)
 2 Valid IDs (Postal, Voter’s ID, Diver’s License, Company ID
etc.)
APPROVAL GUIDELINES
No Responsible
Transaction Flow Details
. Person
1 Credit Investigation Conduct CI/BI using Loan Development
Credibility Test Officer
2 Confirmation of Confirm from Payroll Development
Payment Capacity Department of monthly Supervisor
(FOR MUTI deductions from Salary.
EMPLOYEES ONLY) - Net Salary must be at least
30% after all deductions

3 Loan Approval Credit Committee approved Credit Committee

loanable amount to Prospective (General
Clients Manager)
THANK YOU!