News
Extension of Covid Response Loan Program
Covid Response Loan Program Our Covid Response Loan (CRL) program has been extended up to December 31, 2022. All individual Members who have been actively contributing their share to the Fund may apply. Existing borrowers may renew their loan up to 70% of their latest AV following the reduced effective interest rate of:
|
Type of Loan |
Annual Interest Rate |
Amortization Period |
Amount |
Service Fee |
|
MPL |
3% |
12 -24 months |
up to max of P50,000 |
1% of Loan Amount |
|
|
3% |
12 Months |
|
|
|
E-MPL |
4% |
24 Months |
P50,001 up to P200,000 |
1% of Loan Amount |
|
|
5% |
36 Months |
|
|
|
|
3% |
12 Months |
|
|
|
MPL Plus |
4% |
24 Months |
P200,001 up to 70% of the EE AV |
1% of Loan Amount |
|
|
5% |
36, 48 or 60 Months |
|
|
IMPORTANT NOTE: Loan applications must be received by November 30, 2022*
*Applications received by this date with incomplete requirements, will no longer be accommodated under the CRL program extension.
PERAA's 51st Anniversary Celebration and 43rd Annual Meeting
