SERVICES
JVOMFI’s competitive advantage is its higher loan size and its lower interest rate and fees.
❍ CREDITS /LOANS
Types of Loans:
Regular Loan
- 2.7% interest per month
eg: Principal loan =Php5,000.00
Interest for 5 months= 680.00 - Five (5) months term or 20 weeks
- Weekly payment
- Individual Liability
- 1 week loan processing (new member)
- 3 days processing (re-loan)
- Loanable amount : Php 10,000.00 (minimum)- Php 150,000( maximum)
- Once a month meeting
Incentive Loan
Organic Agricultural Loan
- Available for certified organic farmers only
- organic agriculture loan of 10,000-75,000
- 5% diminishing or 2.72% when converted to flat rate
Greenhouse Loan
- Borrower should be a permanent resident and owner of the farmland
- At least 1 year practitioner of organic farming
- Has established market, member of recognized organic farming group.
- Has capacity to pay based on cash flow.
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❍ MICROINSURANCE
Life Insurance
Benefits:
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- 50% Refund of Premium (after 3 yrs 100% return on Retirement Savings Fund with 2% interest per annum)
- Death benefit or Total and Permanent Disability
- Accident death benefit
- Hospital reimbursement for vehicular accidents
- Credit Insurance (Upon death of borrower)
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Benefits:
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- Cancellation of loan balance (cancellation of loan will only be for good payers)
- Reimbursement of paid amortization
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