[Blueboard] Home Loan from Robinsons Bank

Treasurer's Office ovpft at admu.edu.ph
Thu Mar 4 15:16:05 PHT 2004


MEMO TO :   All Concerned Employees
FROM       :   Vice President for Finance and Treasurer

SUBJECT :   Home Loan from Robinsons Bank

DATE       :   March 4, 2004


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For Faculty Housing applicants who have not yet submitted their bank loan application, we would like to encourage you to expedite your submission of the home loan application.  Robinsons Bank has notified us that they will increase their interest rate in May, 2004.  Hence, only loans approved by them on or before April 30, 2004 will get the preferential rate of 11.9% p.a. (this interest rate is fixed for three years). 

The attractive feature of Robinsons Bank's home loan offer is its high loanable amount.  The bank gives a maximum loan equivalent to 85% of the price of the house and lot.  To illustrate, the minimum equity of the employee-borrower may amount to only P5,000 for a bare one-storey unit, and P48,000 for a bare two-storey unit - both amounts are after the availment of the P150,000 University loan.

Please contact our office at local 4065/4066 if you need additional information on your bank loan.



 JOSE M. SANTOS

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