Particulars | Ceiling Rates/Manner of Computation | |
From | To | |
Nominal Interest Rates per Annum | ||
| 10.97% added on loan | 7.50% added on the principal amount of loan |
| 12% added on loan | 9.00% added on loan + |
One-time Other Charges | 6.00% deducted upfront form the principal amount of loan | 6.00% deducted upfront |
Effective Interest Rates per annum | 29.93% to 24.00% | 19.31% to 19.49% |
Grace period on first loan amortization | Two (2) months | Two (2) months |
Rebate/Discount | Based on the agreement between the parties | Only the principal loan balance shall be paid by the DepEd borrower, in case of advance payment of loan in full |
The adjusted rates shall be made effective on loans to be incurred from July 1, 2011 onwards until further notice.
DepEd advised that conformity with these rates and manner of computation is a required condition for every PLI's eligibility to participate in the DepEd APDS Program.
- https://www.affordablecebu.com/