1. Is there an application fee?
Islaender Credit and Associated Services application forms are not for sale therefore there are no application fees.
2. What are the Requirements if I apply for a Loan?
Requirements would depend on the kind of product you will avail of. The interest rates as well as the processing time also vary depending on the type of product that you apply.
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3. How will I pay my amortization?
As your convenience is our top priority, we offer the following options which you can chose from and we continue to innovate so you can make your payments as easy as 123.
1. Payment can be made directly to any service office.
2. The company have partnered with various leading banks in order to accept your payments by depositing it to the company’s account, you may inquire from the nearest service office for more details.
3. It can be done through a Post Dated Check (PDC). Upon the release of your loan, you will issue PDC’s to our company as a form of security of payment to us.
4. How will I know if my loan is approved?
An office representative will call to inform you if your application is already approved and will tell you the instructions on how to claim your loan.
5. I am interested to renew my loan but I still have an outstanding loan. Do I need to pay off my loan?
There is no need to pay off the loan. You can renew your loan if you had already paid at least 60% of your loan, however, the balance would be deducted from the proceeds of your new loan application.
6. How do I renew my loan?
Loan Renewals are accommodated by our Renewal Department. You can call (032) 260-2266 or proceed directly to the branch near you. Our marketing department is happy to help you.
7. For renewal, would I be required to submit the same documents?
No need. You are only required to send your latest proof of income or bank statements.
8. Do I need to have collateral to get my loan approved?
It depends on the loan type and the loan amount you are requesting to borrow. You can loan without collateral if you avail of personal loan, salary loan, student or educational loan, pension loan, business loan and quick cash loan.
9. What are valid collateral?
Valid collaterals depend on the lending company. For the most part, house, lot and car are among the properties that are acceptable collaterals to put against a loan.
10. How do I qualify for a loan?
Lending companies differ in the market they usually serve. Qualifying for a loan will depend on the type of loan and the source of income. The following are simple qualifying criteria common to lending companies.
- 1-59 years old upon loan maturity (maximum age may vary)
- Filipino citizen
- Must have source of income
- Must have landline or mobile number
- If employed: Must be employed for at least one (1) year in current company
- If self-employed or with business: Business must be registered and have been operating for at least one (1) year
- OFW/Seaman: Must have a co-borrower in the Philippines.
- Foreigner: Must be married to a Filipino citizen to act as principal borrower.
11. Can potential investors visit your office?
We welcomes potential investors to visit the office, during normal business hours, however we do advise you to make an appointment (as the office is very busy) to make sure one of the Directors is on call to answer all your questions.
12. How do I apply for a loan when I am abroad (onboard)?
You can have your beneficiary (for OFW) or Allotee (for Seaman) to apply for a loan in your behalf.