This is a credit facility offered by the Bank to supplement the operating capital of Accredited Financial Institutions / Rural banks / Cooperatives.
|Loan Amount||85% of PN's face value but not to exceed Postbank's Loan ceiling.|
|Loan term||Up to a maximum term of eighteen (18) months.|
|Repayment terms||Client shall pay PPSB the amortizations on the Notes as they fall due in accordance with the amortization schedule(s) to be prepared for each release / availment.|
- Lower interest cost on the loan during the rediscounting period.
- Rediscounting Agreement.
- Deed of Assignment.
- Schedule of Borrower's Promissory Notes in batches according to maturities.
- Individual Envelopes containing:
- Borrowers Promissory Notes signed and verified by the Accredited Financial Institution.
- Signed Borrowers Application Form (with pictures).
- If Promissory Note is secured:
- Real Estate Mortgage (REM) or Chattel Mortgage (CM) document duly signed, verified and registered with the Register of Deeds.
- Original document of Transfer Certificate of Title (TCT), Tax Declaration (TD) or Certificate of Land Ownership Award (CLOA). If secured only by a Tax Declaration, a certification from the Register of Deeds or Bureau of Lands must be secured, stating therein that no title has been issued yet to the property.
- Real Estate Tax Receipts (RETR) for the current year.
- Location Plan.
- Latest Appraisal Report certified by the Accredited Financial Institution.
- If insured, must be properly endorsed in favor of the Rural Bank.
- Latest Financial Ratios are within the guidelines.
- Past Due Ratio not more than 30%.
- Risk Asset Ratio not less than 10%.
- Board Resolution to borrow and specimen signature of authorized signatories of the Accredited Financial Institution (AFI)