Vehicle Loan

VEHICLE LOAN

Purpose: Purchase of vehicle (for personal or business)
1.25% interest per month
Minimum – n/a
Maximum – If brand-new, P1.5 million
If 2nd hand (not more than 5 years), up to 100% of the appraised value
Weekly, Semi- monthly or monthly

Loan Eligibility
 Must be MIGS (member in good standing)
 Must be a Filipino
 Must be at least 18 years of age but not more than 69 years old upon loan maturity
 With at least 1 co-maker

General Requirements
 Completed and signed application form
 2 valid government issued photo ID
 Barangay Clearance
 Proof of billing (if applicable)

Other Requirements
 Price Quotation (for brand new)
 OR and CR (for 2nd hand)
 Deed of Sale of previous seller & buyer (for 2nd hand vehicles if the registered owner is not the current seller)