LOANS

Posted Posted in Loans

Hospitalization Loan

This loan may be availed by the members to help them finance their or their dependents hospital bills and other related hospital expenses.

  • Maximum Loanable Amount :                                                     Php200,000.00
  • Interest rate :                                                                                         5% per annum
  • Maximum Term :                                                                                  2 years
  • Required MERALCO minimum Take Home Pay (THP)  :     10%

 

  •  Requirements:
    • Accomplished MEMABA Loan Application Form certified by G-3 heads
    • Computation of Take Home Pay (THP) via HR Express
    • Co-maker (same pay grade level or higher)
    • Statement of Account from the Hospital and/or attending Physician
  • Loan proceeds must be made payable to the hospital, attending physician, medical service provider and supplier, and never be made payable to the Member.
  • May be applied within a period of one (1) month from the date of confinement or treatment.

 

Funeral Loans

This loan may be availed by the members to cover funeral and memorial service expenses of their dependents.

  • Maximum Loanable Amount :                                                      Php150,000.00
  • Interest rate :                                                                                        5% per annum
  • Maximum Term :                                                                                 2 years
  • Required MERALCO minimum Take Home Pay (THP) :     10%

 

  • Requirements:
    • Accomplished MEMABA Loan Application Form certified by G-3 heads
    • Computation of Take Home Pay (THP) via HR Express
    • Co-maker (same pay grade level or higher)
    • A photocopy of the registered Death Certificate
  • May be applied within a period of one (1) month from the date of confinement or treatment.

 

Fire Loan

This loan may be availed by a member who is a fire victim.

  • Maximum Loanable Amount :                                                      Php500,000.00
  • Interest rate :                                                                                         5% per annum
  • Maximum Term :                                                                                  2 years
  • Required MERALCO minimum  Take Home Pay (THP) :     10%

 

  • Requirements:
    • Accomplished MEMABA Loan Application Form certified by G-3 heads
    • Computation of Take Home Pay (THP) via HR Express
    • Co-maker (same pay grade level or higher)
    • Barangay Certificate
    • Photograph of the incident

 

  • The address reported where the fire occurred must be the same address registered by the Member in his Data for Benefit Claim.
  • An investigation shall be conducted by the Management of MEMABA to verify the occurrence of the fire incident, proof of residence and proof of ownership
  • The loan may be applied within a period of one (1) month from the date of the fire incident.

 

Supplemental Loan

This loan may be availed by the members to help them meet other financial needs

  • Maximum Loanable Amount :                                                      Php150,000.00
  • Interest rate :                                                                                        6% per annum
  • Maximum Term :                                                                                 3 years
  • Required MERALCO minimum Take Home Pay (THP) :     40%

 

  • Requirements:
  • Accomplished MEMABA Loan Application Form certified by G-3 heads
  • Computation of Take Home Pay (THP) via HR Express
  • Co-maker (same pay grade level or higher)
  •  Loan renewal will only be allowed if he has paid at least 50% of the outstanding loan.

 

Medicine Loan

This loan may be availed by the members thrice a year to cover the purchase of their own or their dependents prescribed medicines including that of their dependents formula milk.

  • Maximum Loanable Amount :                                                      Php5,000.00
  • Interest rate :                                                                                        6% per annum
  • Maximum Term :                                                                                 1 year
  • Required MERALCO minimum Take Home Pay (THP) :     10%

 

Requirements:

  • Accomplished MEMABA Loan Application Form certified by G-3 heads
  • Computation of Take Home Pay (THP) via HR Express
  • Co-maker (same pay grade level or higher)
  • Prescription of the medicine

 

  • The loan may be applied within a period of one (1) month from the date of the prescription.
  • A purchase order (PO) shall be issued by the MEMABA to be presented to the accredited drug store (Mercury Drug-Robinson’s Galleria Branch only).

 

Calamity Loan

It is one of the Association’s mandate to render assistance to members who are severely affected by calamities as declared by the government.

  • Maximum Loanable Amount :                                                     Php30,000.00
  • Interest rate :                                                                                        5% per annum
  • Maximum Term :                                                                                 3 years
  • Required MERALCO minimum Take Home Pay (THP) :     10%

 

  • Requirements:
    • Accomplished MEMABA Loan Application Form certified by G-3 heads
    • Computation of Take Home Pay (THP) via HR Express
    • Co-maker (same pay grade level or higher)
    • Barangay Certificate

 

 Educational Loan

This loan may be availed by the members to help them finance their own or their dependents tuition fees and other school fees.

  • Maximum Loanable Amount :                                                       Php250,000.00
  • Interest rate :                                                                                         5% per annum
  • Maximum Term :                                                                                  1 year
  • Required MERALCO minimum Take Home Pay (THP) :      10%

 

 Requirements:

  • Accomplished MEMABA Loan Application Form certified by G-3 heads
  • Computation of Take Home Pay (THP) via HR Express
  • Co-maker (same pay grade level or higher)
  • Statement of account from the School