Loan Calculator

For further assistance, contact the Loans Department at loans@lpmpc.net or contact 0998 314 9079 or visit the main office during business hours.

Loan eligibility requirements often include:

• Active membership for at least 3 months.
• Meeting the minimum share capital or savings balance.
• Submission of required documents, such as valid IDs and proof of income.

Some loan types, such as emergency loans or calamity loans and petty cash loan, may be available to new members immediately, depending on the cooperative’s policies.

You may apply for regular loans after fulfilling all membership and financial requirements, as outlined in the cooperative’s guidelines.

Typically, new members need to meet certain requirements before being eligible to apply for a loan. This may include maintaining an account for a specified period or completing a minimum share capital contribution.

Housing, Real Estate Loan and Regular Loan

• The collateral/s accepted as of now is the Lot Title under the area coverage of the Cooperative.The Lot Title must be under the member’s/ borrower’s name. If married, the title must have the “married to” in the name and a copy of marriage certificate must be submitted as part of the requirement. The Lot Title will be mortgaged.

Vehicle Loan I

• The OR and CR must be submitted to the Cooperative and will be mortgaged.

ATM Loan

• ATM Card must be submitted upon filing of ATM loan as collateral.

MOA or Members under Salary Deduction/ Memorandum of Agreement

• Members under MOA are classified as those with Salary deduction or group of person in an institution that has monthly remittance in the Cooperative. These type of members are bounded with the agreement. There are some type of loan windows that are only applicable in members under MOA. 1 co-maker is only required for members under MOA. In under MOA, its members must be atleast 5 members.

PP or Personal Payment

• Personal Payment are the type of members that usually pays via Over-the-Counter payment or Bank Transfer payment.
  These are members that are not part of any institution with an existing MOA with the cooperative.

Each member can sign for co-makership after 3 months of membership for up to 3 members. Member with no default or with less than 3 months of arrears can sign for co-makership. Members with “Liability as co-maker” are not allowed to sign for co-makership unless the liability is settled. 1 co-maker may be required if the person/ co-maker is an immediate family of the maker.