Personal Advantage Loan (PAL) About us
There are always times in our lives when we need to spend more than we can regularly earn in a given period of time. A family emergency, for example, that will require urgent medical or hospital expenses. Tuition fees and other expenses for your kids going to college. A big celebration in the family like a wedding that will certainly upset the family budget. Expensive house repairs or renovations that need to be done. Or even pursuing a dream family vacation that we have long wanted to fulfill while our children will still have the time for it.
Worry no more. The CFI is launching a new loan program that will allow its members to maximize their income so they can make the most out of them.
Introducing the Personal Advantage Loan or PAL, a loan program that will help CFI members better manage their finances and take control of their lives. Here, a qualified member can borrow up to P1,000,000.00 which can be paid up to a maximum of 60 monthly instalments.
How does this work? The amount of loan a qualified member can apply will be determined from a percentage of his average monthly income multiplied by the number of instalment months applied for. Under this program, the monthly instalment capacity of a member or MIC is equivalent to 20% of his average monthly income while instalment periods will range from a minimum of 12 months to a maximum of 60 months.
One feature of this program is that the loan is not a one-time availment. It allows the borrowing member to make a series of loans for as long as the maximum allowable loan he can apply as justified from his MIC is not yet exhausted. The borrowing member will just have to carry over existing balances for the same loan to the new loan applied for.
The loan program also allows the borrower to renew the loan for as long as the renewal will result in net loan proceeds for the member.
So, if you think PAL will be the answer to your financial needs, CLICK HERE for more details.