PAG-IBIG Fund Target Mairelease Ang Cash Loan Sa Loob ng 20 Working Days

Ngayong panahon na kailangang kailangan ng tulong pinansyal o cash ng mga miyembro ng Pag-IBIG, napakahalaga ng pagkakataon na magkaloan. Sa Pag-IBIG fund, merong Multi-Purpose Loan, at merong Calamity Loan
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Anu-ano nga ba ang mga ayudang alok ng PAG-IBIG Fund ngayong may COVID-19 pandemic? Alamin sa panayam ng CNN Philippines kay PAG-IBIG Vice President Atty. Karin-Lei Franco Garcia

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Narito ang ilan sa mga tanong at sagot galing sa video ng interview sa itaas.

Q: Ano ang mga short term loans na pwedeng maavail ng mga Pag-IBIG Members?

A: May dalawang uri ng short term loans, ang multi-purpose loan at ang calamity loan. May mga pansamantalang proseso ang short term loans, at ito ay via email lamang. 

Q: Magkano ang pwede maavail ng isang miyembro na short term loan?

A: Sa Multi-Purpose Loan o Calamity Loan, pareho na 80% ng iyong kabuuang hulog o Savings sa Pag-Ibig Fund ang pwedeng maavail.

Q: Sino ang pwedeng mag-avail ng Multi Purpose Loan at Calamity Loan?

A: Ang mga miyembro ng Pag-IBIG Fund na meron ng 24-months contribution. Hindi kailangang sunod-sunod ang kontribusyon o tuloy-tuloy basta meron po kayong hulog in the past 6 months, pwedeng makaavail ng MPL or Calamity Loan

Q: Ano ang proseso ng pag-aapply ng loan online?

A: Pumunta sa website at hanapin ang Fillable Form para hindi na kailangang pirmahan. Click dito para sa Fillable form

MULTI PURPOSE LOAN APPLICATION FORM 

CALAMITY LOAN APPLICATION FORM

Pagkatapos nito, pakipicturan ng isang valid ID, at CashCard or ATM kung saan namin idedeposit ang loan. Kailangan din ng employer certification. Pwedeng gumawa ang employer ng certification at papicturan o isend sa inyong email. Ang lahat ng requirements na ito ay ipapadala sa PAG-IBIG ay email address kung nasaan ang inyong opisina. Para sa listahan ng EMAIL ADDRESS, sundan dito.

Q: Gaano katagal ang proseso ng loan

A: Bago ang ECQ, 2 days lang ang processing ng loans, nacrecredit na ang loan proceeds. Post ECQ, after ng ECQ dumagsa po ang Multi purpose Loan at Calamity Loan applications habang kumunti naman ang mga tao ng Pag-IBIG na pwedeng pumasok ng opisina. Sa dalawang combination po yun, medyo matagal po ang aming processing ngayon. Target po namin marelease ang loan proceeds within 20 working days

Q: Papaano kung walang Cash Card, LandBank o Loyalty Card?

A: Dati nung walang cash card nakakapagissue ang Pag-Ibig ng tseke, sa ngayon naghahanap pa ng paraan, at kasalukuyang nakikipag-usap ang Pag-IBIG sa mga electronic disbursement facilities para ipamahagi ang loan proceeds sa mga miyembro na walang cash cards o ATM cards.

Q: Paano kung natigil ang paghuhulog pwede pa bang makapag-avail ng loan?

A: Kahit natigil, kung nakapaghulog ng isang beses sa loob ng 6 months, pwedeng makapagloan

Q: Paano malalaman na approve na ang loan o kung magfollow-up sa Pag-Ibig Fund?

A: Nagpapadala po kami ng text message to tell you kung kailan napasok ang inyong loan proceeds sa ATM

Q: Hanggang kailan pwede mag-apply ng Multi Purpose Loan o Calamity Loan?

A: Ang Multi Purpose Loan ay walang deadline, anytime pwedeng mag-apply, pero ang Calamity loan ay within 3 months pagkatapos magdeclare ng calamity sa inyong lugar.

Q: Hanggang ilan ang pwedeng makaavail ng Multi-Purpose Loan at Calamity Loan?

A: As of now, nakapagrelease na ang Pag-Ibig ng P861M or nasa 50,000 na miyembro, pero nagallocate ang Pag-IBIG ng P3B to 5Billion sa Multi Purpose Loan at Calamity Loans.

Q: Paano po kung may Existing Loans, pwede pa rin bang makapag-avail?
A: Kung meron po kayong Multi-Purpose Loan, pwede po kayong magreavail ng inyong Multi Purpose Loan basta nakapag6 months na kayong bayad at dapat updated ng inyong MPL.

Q: Paano kung walang employer o voluntary member pero naghuhulog, pwede po ba akong makapagloan?

A: Pwedeng deretsong magemail sa Pag-IBIG kahit hindi na dumaan sa employer, pwedeng mag-attach ng proof of income o payslip o ITR.

Q: Paano kung may existing na housing loan, pwede pa rin bang mag-apply ng MP Loan o Calamity Loan?

A: Pwede pa rin mag-apply kahit may housing loan, basta updated ang pagbabayad ng loans.

Q: Qualified ba ang mga OFWs sa Multi Purpose Loan o Calamity Loan ng Pag-IBIG Fund?

A: Yes. Qualified ang OFWs, dapat nakapaghulog ng 24 months at nakapaghulog kahit isang beses for the past 6 months.

Q: Kapag first time borrower, wala pang Cash Card

A: Hindi pa nakakapagcredit ng loan proceeds hanggang walang cash card, naghahanap pa ng paraan ang Pag-IBIG.

Q: Nagloan ako ng MPL ng March 5, before the ECQ pero hanggang ngayon wala pang balita?

A: Covered, Pag-ibig will continue processing lahat ng applications 

Q: Nakamaternity Leave ako simula December hanggang March, pwede pa ba akong makapagavail ng loan?

A: Opo. Kahit nakamaternity, that is a paid leave, pwede pa ring makapagapply ng loan. 

Q: Retired na ako, pwede ba akong makapagloan?

A: Kung retired na po kayo, hindi na po kayo Pag-Ibig fund member, meron po kayong pwedeng iclaim sa Pag-Ibig, lahat ng Pag-IBIG savings ay pwedeng makukuha o maclaim pero after na po ng ECQ dahil face to face o personal po ito. 

PARA sa DETALYADO at STEP by STEP na paraan ng pag-apply ng MULTI PURPOSE LOAN o CALAMITY LOAN, sundan lamang dito pati ang mga email address kung saan ipapadala ang inyong application CLICK HERE.

Short Term Cash Loan, Makakautang ka sa Pag-IBIG FUND
More Details Here: THOUGHTSKOTO https://www.jbsolis.com/2020/04/short-term-cash-loan-PAG-IBIG.html

PARA SA KATANUNGAN SA IBA PANG BAGAY at MGA DETALYE SA CALAMITY LOAN  AT MULTI PURPOSE LOAN ng PAGIBIG, SUNDAN DITO

THOUGHTSKOTO https://www.jbsolis.com/2020/03/pwede-kang-makaavail-ng-pag-ibig.html

Sa Mga Mag-aapply ng Calamity Loan, Antay Muna Sabi ng SSS

More Details Here: THOUGHTSKOTO https://www.jbsolis.com/2020/04/SSS-calamity-loan-postpone.html

©2020 THOUGHTSKOTO

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Short Term Cash Loan, Makakautang ka sa Pag-IBIG FUND

Pag-IBIG Fund has so far approved cash loan applications of 37,901 members affected by the community quarantine, top officials announced recently.

"In support of the government's efforts and following the directives of President Duterte to take care of the welfare of our fellow Filipinos, especially during this pandemic, we approved cash loans amounting to P716.26 million to help our members with their finances during these challenging times. We expect the number of members helped and the amount approved to increase in the coming days as processing continues,” said Secretary Eduardo D. del Rosario, who heads both the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.

The agency's cash loans, also known as short-term loans (STL), are composed of the Calamity Loan and the Multi-Purpose Loan (MPL). The STL programs serve as a readily-accessible and affordable source of funds where qualified members can borrow up to 80 percent of their total savings in Pag-IBIG Fund.
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PAANONG GAGAWIN AT ANONG PROSESO

Narito ang proseso papaano mag-applu ng MULTI PURPOSE LOAN o CALAMITY Loan

Here are the procedures on how to apply for Multi-Purpose Loan and Calamity Loan. You may select from the options below. 

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OPTION 1

1.) Punuan at Iaccomplish ang Multi-Purpose Loan o ang Calamity Loan Application Form. Idownload dito:

2.) Kausapin ang inyong employer na iauthorize ang company signatory para pirmahan ang Application Agreement portion ng form para sa loan. Pwede mong ipadala sa kanila sa email or sa messenger at ibabalik nila sau na may pirma na nila.

Request your employer or authorized company signatory to sign the Application Agreement portion of the form.

(You may send them a copy of your loan application form which they can send back to you with their signature)

3.)Pwede mo maiSCAN o kuhanan ng larawan ang mga sumusunod. (1) ID at iyong Loyalty Card Plus o Landbank o DBP Cashcard. Reminder: Kung WALANG Loyalty Card Plus or Landbank or DBP cash card, pwede kang kumuha ng larawan o magSCAN ng 2 VALID government IDs.

4.) Ipadala ang scanned copy o photo ng iyong loan application at requirements sa mga designated email address na nakaassign depende kung saan located ang inyong employer's office o pabrika o planta. Para sa listahan ng email, tingnan sa ibaba ang listahan ng emails. 

Ipadala po ninyo ang inyong aplikasyon at ang mga kalakip na requirements nito sa email address na nakalaan para sa inyo. Puwede din na ang employer mo ang magpadala ng inyong aplikasyon, muli, depende sa usapan ninyo. 

NCRNorth@pagibigfund.gov.ph 

Para sa mga miyembro at employers na sakop ng aming GMA Kamuning, Quezon Avenue, Commonwealth Avenue, Cubao, Marikina, Caloocan – EDSA, Valenzuela, Pasig, Mandaluyong - Shaw Zentrum and Antipolo branches 

NCRSouth@pagibigfund.gov.ph 

Para sa mga miyembro at employers na sakop ng aming Makati-Buendia I, Binan, Makati-Ayala Avenue, Makati-Buendia II, Makati-JP Rizal, Taguig - Gate 3 Plaza, Guadalupe-EDSA, Muntinlupa, SM Aura, Intramuros, Sta. Mesa, Binondo, Pasay, Las Pinas-Robinsons Place, Paranaque, Imus, Rosario, and Dasmarinas branches 

Ilocos@pagibigfund.gov.ph 

Para sa mga miyembro at employer na sakop ng aming La Union, Laoag, Vigan, Dagupan, Urdaneta, and Baguio branches 

Cagayanvalley@pagibigfund.gov.ph 

Para sa mga miyembro at employer na sakop ng aming Tuguegarao, Solano, and Cauayan branches 

Centralluzon@pagibigfund.gov.ph 

Para sa mga miyembro at employer na sakop ng aming San Fernando, Tarlac, Angeles, SBMA, Balanga, Malolos, Baliwag, Cabanatuan, and Meycauayan branches 

Southerntagalog@pagibigfund.gov.ph 

Para sa mga miyembro at employer na sakop ng aming Lucena, Batangas, Lipa, Calamba, San Pablo, Sta. Rosa, Calapan, and Palawan branches 

Bicol@pagibigfund.gov.ph 

Para sa mga miyembro at employer na sakop ng aming Legazpi and Naga branches 

Centraleastvisayas@pagibigfund.gov.ph 

Para sa mga miyembro at employer na sakop ng aming Cebu-Ayala, Dumaguete, Talisay, Toledo, Cebu-Colon, Mandaue, Danao, Mactan, Tagbilaran, Tacloban, Calbayog, and Ormoc branches 

Westvisayas@pagibigfund.gov.ph 

Para sa mga miyembro at employer na sakop ng aming Iloilo-Manduriao, Iloillo-Molo, Kalibo, San Jose de Buenavista, Roxas, Bacolod, Kabankalan, and Sagay branches 

Northmindanao@pagibigfund.gov.ph 

Para sa mga miyembro at employer na sakop ng aming CDO-Lapasan, CDO-Carmen, Valencia, Butuan, San Francisco, Surigao, and Iligan branches 

Westmindanao@pagibigfund.gov.ph 

Para sa mga miyembro at employer na sakop ng aming Zamboanga, Dipolog, and Pagadian branches 

Southwestmindanao@pagibigfund.gov.ph 

Para sa mga miyembro at employer na sakop ng aming Davao-Bajada, Davao-Matina, Davao-Lanang, Digos, Tagum, Panabo, General Santos, Polomolok, Koronadal, Kidapawan, and Cotabato branches

PARA SA KATANUNGAN SA IBA PANG BAGAY at MGA DETALYE SA CALAMITY LOAN  AT MULTI PURPOSE LOAN ng PAGIBIG, SUNDAN DITO

THOUGHTSKOTO https://www.jbsolis.com/2020/03/pwede-kang-makaavail-ng-pag-ibig.html

OPTION 2

DIGITAL NA PAGFIFILL UP NG FORM

IPAPADALA sa INYONG EMPLOYER 

Kung ikaw ay walang printer, pwede mo mafill up ang form na ito gamit ang phone o laptop o computer.

Submit your Multi-Purpose Loan (MPL) or Calamity Loan application SAFELY VIA EMAIL, following these EASY STEPS:

1.) Fill out the Fillable Loan Form.

 Click this link for the fillable Multi-Purpose Loan (MPL) Form

�https://www.pagibigfund.gov.ph/…/SLF065_MultiPurposeLoanApp…

�• Click this link for the fillable Calamity Loan Form

�https://www.pagibigfund.gov.ph/…/SLF066_CalamityLoanApplica…

�• Fill out Fillable Loan Form, no need for signature

�2.) Save the filled-out form as PDF file

�3.) Send the PDF file via email to your company HR, authorized company representative, or Fund Coordinator along with (1) valid ID and the front and back images of your Loyalty Card Plus, or Landbank or DBP cash card.

�Reminder: If NO Loyalty Card Plus or Landbank or DBP cash card, please send at least two (2) valid IDs.

��The company HR, authorized representative, or Fund Coordinator shall e-mail the following to the Pag-IBIG Fund email address designated for your area:

�Please click the link for the list of email address:

�https://www.pagibigfund.gov.ph/doc…/…/bannerlink/APBORROWERS STL_final.pdf��

1.) Your loan application and requirements

2.) The filled-out ‘Employer Confirmation of STL Application’ bearing your name. Your authorized company representative or Fund Coordinator can download this fillable form via this link

https://www.pagibigfund.gov.ph/…/Email-Format-Employer-Conf…

Reminders:�

Member will receive a text message that will confirm loan approval and crediting in the Loyalty Card Plus or Landbank or DBP Cash Card.�First-time borrowers or members without a Loyalty Card Plus or Landbank or DBP Cash Card shall be advised on how to best receive their loan proceeds.

In light of the pandemic, the agency acted quickly to move the application process for both its Calamity Loan and MPL online. Members, or employers acting on their behalf, were allowed to submit loan applications through email. The move was made to minimize disruption in service during the Enhanced Community Quarantine (ECQ).

On March, 20, just three days after the ECQ was imposed in the National Capital Region and the rest of Luzon, Pag-IBIG Fund was already accepting applications via email.

According to Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti, they have received 221,851 cash loan applications via email as of April 15.

"Our members have come to rely on our cash loans for emergencies and this time, it's no different. That's why we moved the application process online and set up multiple email addresses to receive applications by area. Our offices may be closed but our operations continue. We are receiving as many as 10,000 email applications in a day which is a lot to process considering we are operating in a limited capacity but we are always ready to serve our members. We recognize our members’ need for assistance and we will do our best to help them. That is our pledge as Lingkod Pag-IBIG," Moti said.
As an example, if you already contributed P50,000 within the previous years you can avail 80 percent of which will amount to P40,000.

The loan is renewable and you can avail it again after six months.

You can also avail of the loan not only for tuition fee purposes but also for various use just like what Khay Gutierrez did. She availed the loan from Pag-IBIG for recreational purposes. Pag-IBIG Fund president at chief executive officer Acmad Moti urged the members to increase their savings rate for them to avail much bigger loans in the future.

©2020 THOUGHTSKOTO

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3 COMPANIES WHERE YOU CAN APPLY FOR PERSONAL CASH LOAN ONLINE

This 3 online firms with established credibility offers personal and quick cash loan for overseas Filipino even if you are working overseas, you can apply online.

LoanSolutions.ph is the largest network of lenders in the Philippines. It facilitates fast and easy access to credit for different financial needs by connecting borrowers to multiple lending partners in single online loan application.

TO APPLY FOR PERSONAL QUICK CASH 

LOAN, VEHICLE LOAN, OFW FAST CASH 

LOAN OR BUSINESS LOAN, CLICK HERE 

ZAZU Lending Investor Corporation endeavors to deliver a convenient, efficient, swift and manageable loan service for Overseas Filipino Workers who are in need of financial assistance prior to starting their new jobs abroad.

TO APPLY FOR A QUICK CASH LOAN 

ONLINE, CLICK HERE

1 2 3 Lending Corporation started operations in March 2013 and quickly became the leading lender in Cebu City to the OFW market. Today they have offices in Metro Manila and Cagayan de Oro City.

TO APPLY FOR OFW QUICK CASH LOAN ONLINE, PLEASE CLICK THE LINK HERE

Please note that we are not connected to the above lending agencies, and online lending companies and we require you to direct your questions and directly contact them for details.

PERSONAL LOAN

Non-collateral multi-purpose cash loan for employees and professionals.

OFW LOAN

Cash loan for OFW Seaman/Landbased on Vacation, Direct Hire or First time OFW with Agency.

PHILIPPINE BANKS Quick Cash Loans for OFWs and Fast Cash Loans for Everyone CLICK HERE

STEPS AND PROCESS, FORMS AND DETAILS OF BDO UNIBANK PERSONAL CASH LOAN

©2016 THOUGHTSKOTO

Quick Cash Loans for OFWs and Fast Cash Loans for Everyone

CLICK THE IMAGE IF YOU ARE LOOKING FOR A LENDING COMPANY THAT YOU CAN APPLY ONLINE.

In cases of emergencies and we are thinking to invest over something, we need some fast cash loans, or quick cash loans. Here are the banks that can give us some options for cash loan and their corresponding interest rates. 

Quick and Fast Cash Loan option especially for OFWs

Bank/Lender: BDO Unibank

Loanable Cash Amount: ₱10,000 to ₱500,000

Loan Terms: 6months, 12, 18, 24, or 36 months

CLICK HERE: STEPS AND PROCESS, FORMS AND DETAILS OF BDO UNIBANK PERSONAL CASH LOAN

"BDO offers Personal, Home and Auto Loans to OFWs through its Asenso Kabayan Program. Borrowers should at least be 25 years old but not more than 65 years old upon the maturity of the loan. You should be employed for at least 2 years abroad for skilled workers, and at least 3 years for domestic helpers taking home at minimum P10,000 gross monthly for Personal and Home Loans, and P50,000 per month for Auto Loan.

Borrowers can submit their application to callcenter@bdo.com.ph. You must also have an initial minimum deposit of P100 for peso account and $100 for dollar account to qualify for the loans. All forms can be downloaded at www.bdo.com.ph."

Bank/Lender: BPI BANK OF THE PHIL. ISLAND

Loanable Cash Amount: Up to 3x of gross monthly income, ranging from ₱20,000 up to ₱1 million

Loan Terms: 12 months, 18, 24, 30 or 36 months

BPI grants Personal Loan, Housing Loan and Auto Loans to OFWs working abroad for at least 2 years and earning a minimum of P30,000 per month for Personal and Auto Loans, and a minimum of P40,000 for Housing Loans. Borrowers should be at least 21 years old and not more than 60 years old upon the maturity of the loan. You must be physically present at the BPI branch to sign the loan documents once it is approved. To apply online, visit www.bpiloans.com.

source: www.imoney.ph/

For non-OFWs and those currently residing in the Philippines please check the link and options below.

EXAMPLE: IF YOU BORROW A SMALL CASH LOANS WORTH P200,000 and you have a monthly income of P30,000 AND YOU WISH TO PAY IT IN THE NEXT 3 YEARS, or 36 months, here are the computations on different banks. We recommend, BPI, because the interest rate is cheaper. 

BPI Personal Loan

Approved loan amount up to ₱1,000,000.00.

More info

Interest rate: 11.76%

Monthly repayment

₱ 7,515

36 months

Maybank Enable Personal Loan

Approved loan amount of up to ₱1,000,000.

More info

Interest rate

13.20%

Monthly repayment

₱ 7,755

36 months

Standard Chartered EZ Personal Loan

Approved loan amount up to ₱2,000,000.

More info

Interest rate: 14.40%

Monthly repayment

₱ 7,955

36 months

HSBC Personal Loan

Fast approval! Only five working days after you submit your documents.

More info

Interest rate: 15.00%

Monthly repayment

₱ 8,055

36 months

BDO Personal Loan

Approved loan amount up to ₱3,000,000

More info

Interest rate

15.00%

Monthly repayment

₱ 8,055

36 months

Apply now and get approved the next day!

Citibank Ready Credit Personal Loan

Approved loan up to P2,000,000.

More info

Interest rate: 15.59%

Monthly repayment

₱ 8,153

36 months

Chinatrust Salary Stretch Personal Loan

Approved loan amount up to ₱1,000,000.

More info

Interest rate: 16.67%

Monthly repayment

₱ 8,333

36 months

Sterling Bank of Asia Personal Loan

Approved loan amount up to ₱1,000,000.

More info

Interest rate: 16.80%

Monthly repayment

₱ 8,355

36 months

RCBC Savings Bank Personal Loan

Approved loan amount up to ₱1,000,000.

More info

Interest rate: 18.00%

Monthly repayment

₱ 8,555

36 months

UCPB YES Personal Loan

Easy payment terms up to 36 months.

More info

Interest rate: 18.00%

Monthly repayment

₱ 8,555

36 months

Security Bank Personal Loan

Approved loan amount up to ₱1,000,000.

More info

Interest rate: 20.28%

Monthly repayment

₱ 8,935

36 months

Eastwest Bank Personal Loan with Credit Card Bundle

Approved loan amount up to ₱2,000,000.00.

More info

Interest rate: 20.28%

Monthly repayment

₱ 8,935

36 months

PSBank Flexi Personal Loan

Get additional rebate or savings when you make excess or advance payments.

More info

Interest rate: 21.00%

Monthly repayment

₱ 9,055

36 months

EastWest Bank Personal Loan

Approved loan amount up to ₱2,000,000.

More info

Interest rate: 22.68%

Monthly repayment

₱ 9,335

36 months

Personal Loans in Philippines - FAQ

If you have short-term money needs, a personal loan can be the answer. With no collateral needed, you can easily apply for a personal loan at any bank in the Philippines. To learn more about the basics of personal loans, we've compiled this FAQ for your convenience.

What is a Personal Loan?

True to its name, a personal loan is a loan for any personal expense. Unlike a housing loan or a car loan, you can use a personal cash loan for anything you want, be it tuition fees, travel, or anything else.

There are two types of personal loans available: secured and unsecured. A secured personal loan requires collateral, such as a house or car, to back the loan. For unsecured personal loans, you don't need to put up any kind of collateral. Unsecured personal loans are much more common in the Philippines, though secured loans are also available.

How do Personal Loans in the Philippines work?

When oyu take out a personal loan in the Philippines, you enter into an agreement with the lender (usually a bank) and promise to repay your loan over an agreed length of time. If you're taking out a secured loan, you will also need to put up a collateral.

To repay your personal loan, you make monthly payments for the loan tenure until you've fully repaid both the principal of the loan and the interest. During the early years of the loan, the majority of your monthly payments will be used to repay interest, however, as time passes, a larger proportion of your payments will go into paying down the principal.

Rates vary from bank to bank. For example, a Security Bank personal loan has an effective interest rate of 29.48%, while a BDO personal loan has an effective interest rate of 26.62%. For the latest rates, use our personal loan calculator.

How Do I Use A Personal Loan Calculator?

All you have to do is to specify the amount and period you want to clear the payment of it in the various available fields. The online calculator will then make it easy for you by providing suitable loan packages that are available on the market, and the monthly amortizations for each one. It is worth noting that the best rates will feature at the top.

If you wish to sign for a personal loan you will then click on the "Apply" button.

Loan Terms

Collateral:
This refers to the asset the borrower pledges to a given lender in order to secure a loan and this will be impounded by the lender in case of default in payment of the loan. The case in Malaysia particularly for the islamic personal loans don't require the need for a collateral.

Early settlement penalties:
The fees that the borrower will have to pay in the event that he/she settle the loan at an earlier date from the one specified on the loan agreement. This is usually estimated as a percentage of the initial loan amount.

Guarantor:
This is a person who agrees to be liable for the payment of a loan in the event that the borrower will not be in a position to pay it in time.

Late Payment Charges:
This is the fee which the bank will charge you in the event of you not paying your loan in the agreed time schedule. For example, for BPI personal loans, late payments are charged 5% a month.

Loan/Financing Tenure:
This refers to the period for a certain loan. At the end of the loan tenure the borrower is supposed to have cleared the loan taken.

Source

©2016 THOUGHTSKOTO