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Comparison of Loan offered by China Bank and SVIS CREDECO

China Bank SVIS CREDECO

Loanable Amount 200,000.00 200,000.00

Net Proceeds 188,000.00 188,000.00
138000 Share Cap

Amortization/mo 6,221.24 36 223,964.64 First year amortization

straight 6,555.56 12 78,666.72
Second year
6,222.22 12 74,666.64
Third year
5,888.89 12 70,666.64
Total payments for 3 years 223,964.64 224,000.00

Difference 35.36 SVIS CREDECO is higher by 26.64 only.

Benefits from SVIS CREDECO

1. Entitled to patronage refund
2. Dividends depending on the amount of share capital
3. Hospitalization benefits
4. Christmas gift depending on the amount of share capital
5. Give away during General Assembly

Guidelines:
1. New member/ borrower with less than P50,000.00 share capital;
2. Loanable amount, P100,000.00 to P300,000.00;
3. The applicant is a member in good credit standing for 3 months;
4. Last 3 consecutive months payslip; and
5. 25% should be deducted from the gross loanable amount for additional share capital

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