At Davao Accountants Multipurpose Cooperative (DAMUCO), we understand that your financial needs are unique. That's why we offer a variety of loan options designed to cater to your specific requirements. Whether you're seeking funds to grow your business, finance your education, or manage unforeseen expenses, DAMUCO provides flexible loan solutions to meet your financial objectives.
Entrepreneurial
PHP1M(max loan amount)
Effective Interest Rate/yr. 10%
Service Fee 2%
Share Capital Retention 3%
Max. Term (in mos.) 60
Regular
X3 of Share Cap(max loan amount)
Effective Interest Rate/yr. 12%
Service Fee 3%
Share Capital Retention 3%
Max. Term (in mos.) 24
Working Capital
PHP100K(max loan amount)
Effective Interest Rate/yr. 12%
Service Fee 3%
Share Capital Retention 3%
Max. Term (in mos.) 12
Emergency
PHP20K(max loan amount)
Effective Interest Rate/yr. 10%
Service Fee 2%
Share Capital Retention 3%
Max. Term (in mos.) 12
Special
PHP250K(max loan amount)
Effective Interest Rate/yr. 1.5%/mo.
Service Fee 3%
Share Capital Retention 3%
Max. Term (in mos.) 12
Medical
PHP25K(max loan amount)
Effective Interest Rate/yr. 12%
Service Fee 3%
Share Capital Retention 3%
Max. Term (in mos.) 6
Educational
PHP50K(max loan amount)
Effective Interest Rate/yr. 12%
Service Fee 3%
Share Capital Retention 3%
Max. Term (in mos.) 6
Travel and Tours
PHP50K(max loan amount)
Effective Interest Rate/yr. 12%
Service Fee 3%
Share Capital Retention 3%
Max. Term (in mos.) 12
Lending Policy Highlights
DAMUCO's lending policy is built on the principles of fairness, responsible lending, and sustainability. Some of our key policy highlights include:
Loan Payment: All loans shall be paid in monthly installment through post-dated-checks.
Loan Renewal: Loans may be renewed provided existing loan is current and at least 50% of the principal is paid and no other loan windows availed of is delinquent at the time of the application of reloan.
Collaterals: All loans in excess of share capital must be covered with adequate and acceptable collaterals such as land property and improvements within Davao City; land outside Davao City acceptable case-to-case basis subject to inspection & equipment up to 5 years old units only; rated A shares of stocks.
Penalties: Penalty of 2% per month of delay on the unpaid principal plus interest after allowable 5-day grace period until fully paid.
Credit Insurance: All loans of borrowers below 65 years old are covered with Credit Insurance. Loans of borrowers 65 years and above are covered by Special Savings Program.
At DAMUCO, we believe in empowering our members to achieve their financial goals and dreams. Apply for a loan today and experience the difference of working with a cooperative that cares about your financial success.
Ready to Take the Next Step Toward Your Financial Goals?
Tap the button below to start your loan application with DAMUCO. Let us be your trusted partner on your journey to financial success. Your dreams are within reach, and we're here to help you make them a reality.