NIES ALA, INC.

MERALCO EMPLOYEES SAVINGS & LOAN ASSOCIATION, INC.

Operations Building, Meralco Center, Ortigas Avenue, Pasig City
Tel. 632-8367; 632-8376; 632-8604 Fax 632-8373; 637-8477 Email: meralco_sla@mesala.com.ph
Since 1934

To

: All Members

Date

: August 01, 2014

Subject

: Repackaged Calamity Loan

In consideration of the widespread damages caused by typhoon "Glenda", the Board of Trustees of our Association
approved the increase in amount of Calamity Loan to a maximum of P200,000.00.
The loan shall have the following terms and conditions:
1.) Loan Amount
The loan amount shall be subject to the regulations prescribed by the Bangko Sentral ng Pilipinas and
applicable policies of the Association.
For purposes of computing the single borrowers limit, special savings deposit shall be considered. Pay-out

of existing Contingency and/or Calamity Loan from the loan proceeds shall be allowed.
2.) Terms and Interest Rate
The loan is available in the following repayment terms and interest rates:
Amount
P50,000 and below
Above P50,000

Repayment Term

Interest Rate/Annum

1 3 years

4.00%

1 year

4.00%

2 3 years

6.50%

The interest is computed based on the monthly diminishing balance. Filing and documentary fees are
waived.
3.) Qualified Borrowers
Any member, including special members of legal age, shall be qualified to avail of the loan provided that
they have the paying capacity and have a fixed monthly income.
Amount

Qualified Borrower

P50,000 and below

Inclusive outside Meralco franchise area

Above P50,000

Within Meralco franchise area only

4.) Default Mode of Payment

Employees/Pensioners
Non-employee/pensioners

- Payroll/Pension Deduction
- Post-dated checks or auto-debit of savings

5.) Loan Guarantee

The requirement of a co-maker shall be waived in the following cases:
1.) Meralco employees with at least 18 years in service
2.) Members who assign their available SSD and/or Capital contribution equivalent to gross loan until loan
is fully paid.
6.) Requirements
1.) Accomplished Loan Application duly endorsed by the authorized signatory of corporate member.
2.) For loans above P50,000, the following documents shall be attached to the loan application:
a. picture of damages of the property
b. estimated cost of damages/bill of materials
7.) Duration of Loan Offering
Members can avail of the loan effective August 4, 2014 until September 30, 2014.
For i

ease call up Tel Nos. 632-8834, 1622-6079 or email us at loans@mesala.com.ph.

Antonio R. Valera
Pizsident