LOAN PRODUCTS


FREQUENTLY ASKED QUESTIONS FOR LOAN PRODUCTS



1. Who can apply for a loan with the PCGSLAI?
    Only PCGSLAI members can apply for PCGSLAI loans. However, PCG Personnel who are not yet members at the time of application but need to avail PCGSLAI’s Loan Products may submit their Membership Application Form and requirements together with their loan applications.
2. WHO ARE QUALIFIED TO AVAIL A LOAN WITH THE PCGSLAI?
    All PCGSLAI members are qualified to apply for a loan, however, only PCG personnel, pensioners and civilian employees receiving salaries and pensions from the PCG may avail the REGULAR loan products.
3. HOW ABOUT ASSOCIATE MEMBERS? WHAT TYPE OF LOANS CAN THEY AVAIL FROM THE PCGSLAI?
    Associate Members may avail of the Associate Loan, Back-to-Back Loan and Soft Back-to-Bank Promo Loan.
4. HOW MANY LOANS CAN A MEMBER AVAIL?
    A member is allowed up to six (6) loans namely: Salary, Emergency, Multi-Purpose, Educational, Appliance and Promo Loan, provided that he/she qualifies under the Single Borrower’s Limit and meets the required net take home pay and has the capacity to pay.
5. CAN A MEMBER APPLY FOR MORE THAN ONE LOAN IN A MONTH?
    No. Only one (1) loan per month shall be given to any member.

6. HOW LONG DOES IT TAKE FOR A LOAN APPLICATION TO BE PROCESSED AND RELEASED?
    The processing of loan normally takes one (1) day depending on the completeness of loan requirements.

7. HOW SOON CAN A MEMBER-BORROWER APPLY FOR A RELOAN?
    Member-borrowers who have paid at least 30% of the principal balance can already apply for a reloan.

8. WHAT HAPPENS IF THE PRINCIPAL BORROWER HAS GONE AWOL OR DEFAULTS FROM HIS LOAN PAYMENT?
    The outstanding loan balance of the borrower shall beborne & shouldered by the two (2) co-makers. The monthly amortization shall be equally divided between the two. In case one of the co-maker has also gone AWOL, the remaining co-maker shall shoulder the entire unpaid obligation of the principal borrower.
    However, prior to assumption of the Co-Makers of the loan, the loan amortization of AWOL borrowers shall be deducted from the remaining balances of their CapCon and Savings Accounts.
9. WHAT HAPPENS TO THE LOAN OBLIGATION OF A BORROWER, IN CASE OF HIS/HER DEATH?
    The outstanding balance of the demised borrower will be considered fully paid, under the Loan Insurance Agreement, provided his surviving Officer or PO/ Family member have submitted a Death Certificate and Spot Report.

10. WHERE CAN A MEMBER ASSIGNED IN DISTANT AREAS SUBMIT HIS/HER LOANAPPLICATION?
    They can submit through the PCGSLAI Coordinators in the following districts and units of the PCG:
        CGD North Eastern Luzon
        CGD Southern Tagalog
        CGD Bicol
        CGD-Central Visayas
        CGD – Western Visayas
        CGD – Southwestern Mindanao
        CGWCEISS
        CGAG
    The members can likewise course their applications through the PCG Liaisons of the following PCG district and units:
        CG BASE TAGUIG MSSC
        CGD North Western Luzon
        CGD Palawan
        CGD-Eastern Visayas
        CGD – Northern Mindanao
        CGD – Southeastern Mindanao



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