If you are a member of the Armed Forces and Police Mutual Benefit Association, Inc. (AFPMBAI), you may have heard about the Afpmbai Loan Table 2018. This table outlines the maximum loan amounts and loan terms that members can avail of. In this article, we will discuss everything you need to know about the Afpmbai Loan Table 2018.
Main Content
What is the Afpmbai Loan Table 2018?
The Afpmbai Loan Table 2018 is a guide that lists the maximum loan amounts and loan terms that members of the AFPMBAI can apply for. The table is based on the member’s rank and length of service.
How do I know which loan amount and term I am eligible for?
You can refer to the Afpmbai Loan Table 2018 to check the loan amount and term that you are eligible for. Simply find your rank and length of service in the table and you will see the corresponding loan amount and term.
What are the loan terms available?
The loan terms available in the Afpmbai Loan Table 2018 range from 6 months to 5 years. The loan term that you are eligible for will depend on your rank and length of service.
What are the interest rates for the loans?
The interest rates for the loans are based on the prevailing market rates and will be determined by the Board of Trustees.
What are the requirements for applying for a loan?
The requirements for applying for a loan from AFPMBAI include a duly accomplished loan application form, valid ID, proof of income, and other supporting documents as may be required.
How long does it take to process a loan application?
The processing time for a loan application may vary depending on the completeness of the requirements and the volume of applications being processed. However, AFPMBAI aims to process loan applications within 5 working days.
What happens if I miss a loan payment?
If you miss a loan payment, there will be corresponding penalties and charges. It is important to pay your loan on time to avoid these charges and to maintain a good credit standing with AFPMBAI.
Can I apply for another loan if I still have an existing one?
Yes, you can apply for another loan even if you still have an existing one as long as you meet the eligibility requirements and have a good credit standing with AFPMBAI.
What happens if I pre-terminate my loan?
If you pre-terminate your loan, there will be corresponding penalties and charges. It is important to read and understand the terms and conditions of the loan before applying to avoid these charges.
How do I apply for a loan?
To apply for a loan from AFPMBAI, you can visit their website or any of their branches nationwide. You can also contact their customer service hotline for more information.
FAQ
What is the maximum loan amount for a Staff Sergeant with 10 years of service?
The maximum loan amount for a Staff Sergeant with 10 years of service is PHP 200,000.
What is the interest rate for a 3-year loan?
The interest rate for a 3-year loan will be determined by the Board of Trustees based on the prevailing market rates.
What are the penalties for missing a loan payment?
The penalties for missing a loan payment may vary depending on the terms and conditions of the loan. It is important to read and understand these terms before applying for a loan.
What supporting documents do I need to submit with my loan application?
You may be required to submit proof of income, valid ID, and other supporting documents as may be required by AFPMBAI.
What is the loan term for a Master Sergeant with 15 years of service?
The loan term for a Master Sergeant with 15 years of service is 4 years.
Can I apply for a loan online?
Yes, you can apply for a loan online through the AFPMBAI website.
What should I do if I have a complaint about my loan?
If you have a complaint about your loan, you can contact the customer service hotline of AFPMBAI or visit their branch to file a complaint.
What is the minimum loan amount that I can apply for?
The minimum loan amount that you can apply for will depend on your rank and length of service. Please refer to the Afpmbai Loan Table 2018 for more information.
Pros
One of the advantages of applying for a loan from AFPMBAI is that they offer competitive interest rates and flexible loan terms. Additionally, as a member of the AFPMBAI, you can enjoy other benefits such as insurance coverage and investment opportunities.
Tips
Before applying for a loan from AFPMBAI, make sure to read and understand the terms and conditions of the loan. It is also important to have a good credit standing and to pay your loan on time to avoid penalties and charges.
Summary
The Afpmbai Loan Table 2018 is a guide that lists the maximum loan amounts and loan terms that members of AFPMBAI can apply for. To apply for a loan, you must meet the eligibility requirements and submit the necessary documents. Always read and understand the terms and conditions of the loan to avoid penalties and charges.
