Maximum Loan Amount: $1,000,000.00
Repayment Period: 60 Months – 5 Years
Interest Rate: 18%
Equity: 15% of loan amount in share equity account
Monthly Payment: $30,400.00 (Loan Repayment: $25,400.00, Compulsory Savings: $5,000.00)
Requirements
✓ Last two months pay slips
✓ ID
✓ Job Letter (For first time borrowers)
✓ Signed final payment letters (issued by the CU)
Loan Insurance
✓ Copy Birth Paper or Passport (For Loan Insurance)
OR
✓ Assignment of existing insurance (must have creditor life clause)
Other Conditions
- • Credit Report will be generated. The CU may require statements from other financial institutions seen on the Credit Report that is not closed or removed from the Credit Report.
- • If credit score is high-risk, a guarantor will be required. For the guarantor: ▪ Completed guarantor form
- ▪ Guarantor last pay slip
- ▪ Guarantor ID
- ▪ Guarantor job letter (for non-JDF members) – non-JDF members must be permanently employed.
- ▪ Guarantors as serving JDF members, ROD must be at minimum one year of the member’s ROD.
- ▪ Guarantors as serving JDF members, must be a rank higher than that of the member.
-
- ▪ JDF Members with less than one-year ROD and over 18 years of service, will be required to signed a pension letter. This letter only takes effect whenever the member retires from JDF. The monthly loan repayment/obligation will be deducted from their pension otherwise a guarantor document is required.
Easi Loan Repayment Schedule
HOME EQUITY LOAN REQUIREMENTS
Use the equity within an existing property to secure a loan.
Maximum Loan Amount: $17,000,000.00
Repayment Period: 15 Years
Interest Rate: 9.99%
Equity: 10% of loan amount in share equity account
(Equity can be deducted from loan amount)
Loan Purpose: Home Improvement
Purchase Another Property
Purchase Solar Energy
Consolidate Loans
Start a Business
Unlimited
Monthly Payment: $192,600.00 (Loan Repayment: $182,600.00 Compulsory Savings: $10,000.00)
Requirements
✓ Minimum 3 months membership
✓ Proof of Loan purpose – Invoice, Statements, Sale Agreement etc.
✓ Last two months pay slips
✓ ID
✓ Job Letter (For Civilian members)
✓ Valuation Report (Not exceed 2 years)
✓ Surveyors ID Report
✓ Original Certificate of Land Title
✓ Property Tax Certificate (Payment of property tax receipt)
✓ Status Letter from 1st Mortgagee
Loan Insurance
✓ Copy Birth Paper or Passport (For Loan Insurance)
OR
✓ Assignment of existing insurance (must have creditor life clause)
Other Conditions
✓ 90% of the property forced sale value can be used as security.
✓ If the property is not owned by the member or is jointly owned, an authorization letter along with ID of the owner/joint owner giving permission to use property as security. Authorization letter must be stamped and signed by a JP.
Unsecured Booster Loan Repayment Schedule
LOAN TYPE: HOME EQUITY LOAN (9.99%)
| Loan Amount |
Loan Repayment |
Compulsory Savings |
Total Deduction |
| $17,000,000.00 |
$181,650.00 |
$10,000.00 |
$191,650.00 |
| $16,500,000.00 |
$176,310.00 |
$10,000.00 |
$186,310.00 |
| $16,000,000.00 |
$170,960.00 |
$10,000.00 |
$180,960.00 |
| $15,500,000.00 |
$165,620.00 |
$9,500.00 |
$175,120.00 |
| $15,000,000.00 |
$160,275.00 |
$9,500.00 |
$169,775.00 |
| $14,500,000.00 |
$154,935.00 |
$9,500.00 |
$164,435.00 |
| $14,000,000.00 |
$149,600.00 |
$9,500.00 |
$159,100.00 |
| $13,500,000.00 |
$144,300.00 |
$9,000.00 |
$153,300.00 |
| $13,000,000.00 |
$138,910.00 |
$9,000.00 |
$147,910.00 |
| $12,500,000.00 |
$133,565.00 |
$9,000.00 |
$142,565.00 |
| $12,000,000.00 |
$128,220.00 |
$9,000.00 |
$137,220.00 |
| $11,500,000.00 |
$122,900.00 |
$8,500.00 |
$131,400.00 |
| $11,000,000.00 |
$117,540.00 |
$8,500.00 |
$126,040.00 |
| $10,500,000.00 |
$112,200.00 |
$8,500.00 |
$120,700.00 |
| $10,000,000.00 |
$106,900.00 |
$8,500.00 |
$115,400.00 |
| $9,500,000.00 |
$101,510.00 |
$8,000.00 |
$109,510.00 |
| $9,000,000.00 |
$96,170.00 |
$8,000.00 |
$104,170.00 |
| $8,500,000.00 |
$90,850.00 |
$8,000.00 |
$98,850.00 |
| $8,000,000.00 |
$85,500.00 |
$8,000.00 |
$93,500.00 |
| $7,500,000.00 |
$80,150.00 |
$7,500.00 |
$87,650.00 |
| $7,000,000.00 |
$74,800.00 |
$7,500.00 |
$82,300.00 |
| $6,500,000.00 |
$69,460.00 |
$7,500.00 |
$76,960.00 |
| $6,000,000.00 |
$64,110.00 |
$7,500.00 |
$71,610.00 |
| $5,500,000.00 |
$58,800.00 |
$7,000.00 |
$65,800.00 |
| $5,000,000.00 |
$53,500.00 |
$7,000.00 |
$60,500.00 |
| $4,500,000.00 |
$48,085.00 |
$7,000.00 |
$55,085.00 |
| $4,000,000.00 |
$42,750.00 |
$7,000.00 |
$49,750.00 |
| $3,500,000.00 |
$37,400.00 |
$6,500.00 |
$43,900.00 |
| $3,000,000.00 |
$32,100.00 |
$6,500.00 |
$38,600.00 |
Unsecured Booster Loan Repayment Schedule (Home Equity Loan 12.5%)
| Loan Amount |
Loan Repayment |
Compulsory Savings |
Total Deduction |
| $17,000,000.00 |
$209,520.00 |
$10,000.00 |
$219,520.00 |
| $16,500,000.00 |
$203,400.00 |
$10,000.00 |
$213,400.00 |
| $16,000,000.00 |
$197,200.00 |
$10,000.00 |
$207,200.00 |
| $15,500,000.00 |
$191,050.00 |
$9,500.00 |
$200,550.00 |
| $15,000,000.00 |
$184,900.00 |
$9,500.00 |
$194,400.00 |
| $14,500,000.00 |
$178,710.00 |
$9,500.00 |
$188,210.00 |
| $14,000,000.00 |
$172,550.00 |
$9,500.00 |
$182,050.00 |
| $13,500,000.00 |
$166,400.00 |
$9,000.00 |
$175,400.00 |
| $13,000,000.00 |
$160,230.00 |
$9,000.00 |
$169,230.00 |
| $12,500,000.00 |
$154,060.00 |
$9,000.00 |
$163,060.00 |
| $12,000,000.00 |
$147,900.00 |
$9,000.00 |
$156,900.00 |
| $11,500,000.00 |
$141,740.00 |
$8,500.00 |
$150,240.00 |
| $11,000,000.00 |
$135,600.00 |
$8,500.00 |
$144,100.00 |
| $10,500,000.00 |
$129,410.00 |
$8,500.00 |
$137,910.00 |
| $10,000,000.00 |
$123,250.00 |
$8,500.00 |
$131,750.00 |
| $9,500,000.00 |
$117,100.00 |
$8,000.00 |
$125,100.00 |
| $9,000,000.00 |
$110,930.00 |
$8,000.00 |
$118,930.00 |
| $8,500,000.00 |
$104,760.00 |
$8,000.00 |
$112,760.00 |
| $8,000,000.00 |
$98,600.00 |
$8,000.00 |
$106,600.00 |
| $7,500,000.00 |
$92,440.00 |
$7,500.00 |
$99,940.00 |
| $7,000,000.00 |
$86,300.00 |
$7,500.00 |
$93,800.00 |
| $6,500,000.00 |
$80,115.00 |
$7,500.00 |
$87,615.00 |
| $6,000,000.00 |
$73,950.00 |
$7,500.00 |
$81,450.00 |
| $5,500,000.00 |
$67,790.00 |
$7,000.00 |
$74,790.00 |
| $5,000,000.00 |
$61,625.00 |
$7,000.00 |
$68,625.00 |
| $4,500,000.00 |
$55,470.00 |
$7,000.00 |
$62,470.00 |
| $4,000,000.00 |
$49,300.00 |
$7,000.00 |
$56,300.00 |
| $3,500,000.00 |
$43,140.00 |
$6,500.00 |
$49,640.00 |
| $3,000,000.00 |
$37,000.00 |
$6,500.00 |
$43,500.00 |
