Salary Loan
Your Trusted Companion for All your Lending Needs
Lagawe MDC Salary Loan are loans granted for employed members who are holding permanent appointment in the public and private sector and receiving regular/fixed monthly salary. This type of loan may be also extended to contractual and elective officials provided. The basis for approval of loan amount is the established Memorandum of Agreement (MOA) for payroll deduction between LMDC and Employer of the member and member’s capacity to pay.
DepEd Salary Loan exclusively for employees of the Department of Education.
Regular Salary Loan for employed members other than DepEd either in private or public.
How do I qualify?
- Minimum share capital (under DepEd Salary Loan)
- Original Copy of Pay slip (under DepEd Salary Loan)
- Share Capital of PhP7,000.00 for Loan PhP100,000.00 and below and PhP15,000.00 to PhP20,000.00 share capital for loan above PhP100,000.00 (under Regular Salary Loan)
- Permanent Appointment signed by employer (both Regular Salary Loan and DepEd)
- Latest payroll or certification of net take home pay (for Regular Salary Loan) and latest pay slip for DepEd salary loan
- Co-makers (both DepEd and Regular)
- With a minimum Saving Deposit of PhP500.00 (both DepEd and Regular)
How do I apply?
You can easily apply for Salary Loan by submitting your duly accomplished form and requirements at any of our Lagawe MDC branch/satellite offices at your nearest area. You may also visit our Lagawe MDC Main Office located at JP Rizal Avenue, Dullagan, Poblacion West, Lagawe, Ifugao.
How much is the annual interest rate/service fee?
DepEd Salary & Regular Salary Loan: Members with good loan history are privileged to be given lower interest rate.
DepEd Service Fee: 5%
Regular Service Fee: 0.5%
What is the Loan Mode/Term of Payment?
Mode of Payment: monthly installment
Term of Payment: Up to 60 months
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Housing Loan
Turning your Aspirations into Reality through Strategic Lending
Lagawe MDC Housing Loan allows you to loan with a maximum loanable amount up to 10 times of the share capital but not to exceed to Three Million Pesos (PhP3,000,000.00) subject to the availability of funds. It can also be availed by member-borrower, on top of his/her other loan, provided he/she has no delinquent accounts with the cooperative, and still has the capacity to pay for an additional loan, however she/he should not have any existing loan with other cooperatives or lending institutions including SSS/Pag-IBIG/GSIS.
How do I qualify?
- Design and program of work with detailed estimate duly signed by a Civil Engineer.
- Tax declaration or Certificate of Title in the name of the member-borrower or spouse of the borrower
- Two Co-makers
- Required share capital
- Borrower-member shall not be more than 50 years old.
How do I apply?
You can easily apply a Housing Loan by submitting your duly accomplished form and requirements at any of our Lagawe MDC branch/satellite offices at your nearest area. You may also visit our Lagawe MDC Main Office located at JP Rizal Avenue, Dullagan, Poblacion West, Lagawe, Ifugao.
What is the Loan Term of Payment?
Up to 15 years as follows:
PhP500,000.00 and below — 5 years
PhP500,001.00 to PhP1,000,000.00 — 8 years
PhP1,000,001.00 to PhP2,000,000.00 — 10 years
PhP2,000,001.00 to PhP3,000,000.00 — 15 years
What is the Loan Mode of Payment?
The mode of payment is through monthly installment.
How much is the annual interest rate?
The interest of Housing Loan is computed on an annual diminishing balance. Members with good loan history are privileged to be given lower interest rate.
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Productive Loan
Dream Big. We’ll Help you Finance it. Productive LOAN
Lagawe MDC Productive Loan are loans granted to members for generating income investments/projects or additional capital for an existing investment/project either Agricultural or Non-Agricultural purposes. Member-borrower shall open a Savings Deposit to LMDC/Minimum Share Capital Requirements.
What are under the Productive Loan?
Agricultural/Aqua Production Purposes are used for financing Livestock Raising, production of Corn/Palay, Fruit/Vegetable, Coffee, Fish Production and others that are relatively agricultural in nature.
Non-Agricultural Farm Machineries are used to purchase farm machineries such as Hand Tractors, Threshers, Corn Shellers.
Non-Agricultural Purposes are Initial Capital or Additional Capital for Business endeavor of members.
Contractor’s Loan is granted to cooperative members who are PCAB licensed contractors that may need additional fund in the conduct of their construction business operation.
How do I Qualify?
- Minimum of three (3) years in the business/project, with permanent address, and credit credibility; and
- Not more than 69 years old at the end of term of the loan.
- For unsecured loans above PhP100,000.00 to PhP300,000.00, Post-dated check is mandatory
- For unsecured loans of PhP100,000.00 and below, Post-dated check is optional
- Two co-makers who are members in good standing
- Collateral for the secured loans shall be real estate
- The minimum savings deposits of PhP1,000.00 shall not be withdrawn until the loan is fully paid.
- Barangay clearance/certification (for loan purposes) if applicable
- Business Permits if applicable
- For farm machineries, proof of residency photocopy.
- For Tricycle, Jeepney, and Transport Van Loan, proof of residency.
How do I apply?
You can easily apply a Productive Loan by submitting your duly accomplished form and requirements at any of our Lagawe MDC branch satellite offices at your nearest area. You may also visit our Lagawe MDC Main Office located at JP Rizal Avenue, Dullagan, Poblacion West, Lagawe, Ifugao.
What is the Loan Mode/Term of Payment?
Agri-Loans Secured: Every crop period, 6 months
Non-Agri Loans – Non-Secured Micro Business Loan: Daily, Weekly, Monthly, up to 18 months
Non-Agri Loans – Secured: Daily, Weekly, Monthly, up to 18 months
Vehicle Loan (brand-new farm Tractor, Modernized Jeepney or New Transport Van): Monthly, 2–5 years
Motorcycle with Sidecar Loan: Daily, Weekly, Monthly, up to 2 years
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Petty Cash Loan
OUR VISION
A Stable Cooperative Providing Quality Products and Services Needed by the Members and Community
OUR MISSION
Improving Lives of the Members and the Community
Lagawe MDC Petty Cash Loan can be availed only by members with no delinquent accounts in the cooperative with an interest rate of 36% and requires no comaker.
How do I apply?
You can easily apply a Petty Cash Loan by submitting your duly accomplished form and requirements at any of our Lagawe MDC branch/satellite offices at your nearest area. You may also visit our Lagawe MDC Main Office located at JP Rizal Avenue, Dullagan, Poblacion West, Lagawe, Ifugao.
How much is the maximum loanable amount?
No existing Loan: 90% of Share
With Existing Loan: PhP5,000.00
What is the Mode/Term of payment?
The mode of payment can be re-paid on a daily, weekly, or bi-monthly equal installment. The term of payment can last up to 3 months only.
PhP10,000.00 and below – 1 month
PhP10,001.00–PhP15,000.00 – 2 months
Above PhP15,000.00 – 3 months
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Calamity Loan
In times of crisis a Helping Hand can be the Bridge to a Brighter Tomorrow.
The Calamity Loan is a service for cooperative members affected by calamities such as typhoons, earthquakes, or other disasters. It provides financial assistance to restore damaged properties.
How do I qualify?
- Barangay Certification that the member is calamity affected
- Recent picture of the damaged property during the disaster
- Application form duly accomplished by the member
- Permanent appointment from the employer (for employees)
- Five months bank statement for business owner members
How do I apply?
Submit the accomplished form and requirements at any Lagawe MDC branch or satellite office. Main office location: JP Rizal Avenue, Dullagan, Poblacion West, Lagawe, Ifugao.
What is the Loan Term/Mode of Payment?
Loan Term: dependent on the loan window with a maximum of 2 years
Maximum Loanable Amount: PhP 15,000.00 for Provincial Declaration and PhP 20,000.00 for Municipal Declaration
What is the annual interest rate?
Members with good loan history are privileged to be given lower interest rates.
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Providential Loan
Financial Solutions that Evolve with your Changing Needs.
The Providential Loan is granted to members for financial needs other than income generation, such as medication, education, appliance purchase, mortgage redemption, and other purposes.
How do I qualify?
- Member-borrower shall have no delinquent accounts and must have capacity to pay.
- Members must open a Savings Deposit to LMDC/Minimum Share Capital Requirements and a savings deposit of PhP 500.00.
- Loan ceiling is 10x the share capital, not exceeding PhP 2,000,000.00.
- Collateral is required.
- For vehicle loans: Original Certificate of Registration (CR) and Official Receipt (OR).
- Borrower must not be more than 65 years old.
How do I apply?
Submit the accomplished form and requirements at any Lagawe MDC branch or satellite office. Main office location: JP Rizal Avenue, Dullagan, Poblacion West, Lagawe, Ifugao.
How much can I borrow?
Medical: PhP 100,000.00 (6 months)
Educational: PhP 50,000.00 (6 months)
Appliance and Gadget: PhP 50,000.00 (6 months)
Grocery: PhP 100,000.00 (6 months)
Placement Fee (OFW): PhP 250,000.00 (6 months)
Social Obligation: PhP 100,000.00 (6 months)
Redemption of Mortgage: PhP 2,000,000.00 (6 months)
Vehicle (for service): PhP 500,000.00 (up to 5 years)
How much is the annual interest rate?
12.5% per annum with 1% collection fee for 1–2 years’ term
13% per annum with 1% collection fee for above 2–3 years’ term
14% per annum with 1% collection fee for above 3–4 years’ term
15% per annum with 1% collection fee for above 4–5 years’ term
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Infrastructure Loan
OUR VISION
A Stable Cooperative Providing Quality Products and Services Needed by the Members and Community
OUR MISSION
Improving Lives of the Members and the Community
The purpose of Lagawe MDC Infrastructure Loan shall be for infra-project of member awarded to them by government. The basis of loanable amount shall be 10 times the share capital of the member. Location of project must be within the area of operation of LMDC.
How do I qualify?
- Submission of a deed of Assignment executed by the contractor and the approved “Award of Contract Completed” together with the program of work of the project to be funded.
- Special Power of Attorney authorizing LMDC to withdraw the cheque representing the contract amount of the project from the funding agency.
- Co-borrowers
- Collateral
- Postdated cheque (if applicable)
How do I apply?
You can easily apply an Infrastructure Loan by submitting your duly accomplished form and requirements at any of our Lagawe MDC branch/satellite offices at your nearest area. You may also visit our Lagawe MDC Main Office located at JP Rizal Avenue, Dullagan, Poblacion West, Lagawe, Ifugao.
How much is the maximum loanable amount?
Maximum Loanable Amount: Php5,000,000.00
Interest Rates: Members with good loan history are privileged to be given lower interest rate
Collection fee: 1%
What is the Mode/Term of payment?
Mode of Payment: Lump sum
Term of Payment: 3 months however can be extended for another 3 months.
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Pension/ATM Loan
OUR VISION
A Stable Cooperative Providing Quality Products and Services Needed by the Members and Community
OUR MISSION
Improving Lives of the Members and the Community
Lagawe MDC Pension/ATM Loan allows Pensioner or an ATM employed holder who are willing to deduct the membership, other fees for membership and the share capital requirement from the proceeds of the loan (Applicable to non-member prior to application). The basis of loanable amount shall be 10 times the gross of a pensioner or the net take home pay of an employed member whichever is applicable.
How do I qualify?
- Submission of ATM print outs.
- Surrender of ATM CARD and disclosure of PIN number
- For more than 70 years old borrower, a collateral is to be provided.
How do I apply?
You can easily apply a Pension Loan by submitting your duly accomplished form and requirements at any of our Lagawe MDC branch/satellite at your nearest area. You may also visit our Lagawe MDC Main Office located at JP Rizal Avenue, Dullagan, Poblacion West, Lagawe, Ifugao.
How much is the maximum loanable amount?
Maximum Loanable Amount: PhP1,000,000.00
Interest Rates: per annum (members with good loan history are privileged to be given lower interest rate)
Collection fee: 1%
What is the Mode/Term of payment?
Mode of Payment: Lump sum
Term of Payment: 3 months however can be extended for another 3 months.
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Cash Advance Loan
OUR VISION
A Stable Cooperative Providing Quality Products and Services Needed by the Members and Community
OUR MISSION
Improving Lives of the Members and the Community
Lagawe MDC Cash Advance Loan is open to government employees who are willing to comply the terms and conditions. The basis of loanable amount shall be actual amount of bonus and 13th month pay. The employee is willing to deduct the amount on the payroll or surrender the ATM with the PIN to the coop.
How do I qualify?
- Submission of ATM CARD and disclosure of PIN.
- Execution of Authority to deduction through payroll
- Certified photo copy of payroll and certification of the amount of bonus and 13th month pay to be given.
How do I apply?
You can easily apply a Cash Advance Loan by submitting your duly accomplished form and requirements at any of our Lagawe MDC branch at your nearest area. You may also visit our Lagawe MDC Main Office located at JP Rizal Avenue, Dullagan, Poblacion West, Lagawe, Ifugao.
How much is the maximum loanable amount?
Maximum Loanable Amount: Amount of bonus and 13th month pay
Interest Rates: per annum (members with good loan history are privileged to be given lower interest rate)
What is the Mode/Term of payment?
Mode of Payment: Lump sum
Term of Payment: Up to two (2) months. For midyear bonus/13th month Pay March 15 – May 15 and for Year-end bonus/13th month pay Sept 15 to Nov 15.
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