Loans

You can choose from a variety of loan services offered by NICO based on your needs.

Providential Loans

House construction, home improvements or residential house and lot purchase.

Interest rate per annum (nominal): 15.00%

Payment of tuition fees and other educational expenses, including continuing education, board exam review programs for members or/their beneficiaries.

Interest rate per annum (nominal): 24.00%

Finance travel expenses of Overseas Filipino for employment such as placement fees.

Interest rate per annum (nominal): 24.00%

Provide access to additional funds for retired regular members receiving regular pension or members who or with dependents receiving survivorship pension.

Interest rate per annum (nominal): 24.00%

Provide access to additional funds for retired regular members receiving regular pension or members who or with dependents receiving survivorship pension.

Interest rate per annum (nominal): 24.00%

Purchase of motorcycle and car for personal use.

Interest rate per annum (nominal): 15.00%

For personal consumption, such as but not limited to household expenses, minor house repairs, appliance, gadgets, bills payment, personal travel (transitory product from existing regular loan; no new application shall be accepted; this product may have a feature of a Credit line later)

Interest rate per annum (nominal): 24.00%

For personal consumption, such as but not limited to household expenses, minor house repairs, appliance, gadgets, bills payment and personal travel.

Interest rate per annum (nominal): 18.00%

Bridge facility for personal consumption.

Interest rate per annum (nominal): 24.00%

Auxilliary Loans

Multi-purpose loan secured by time deposit

Interest rate per annum (nominal): 18.00%

Progressive savings deposit product designed to build-up funds for special occassions: Christmas, New Year, Birthday, Fiesta, Valentines Day, among others.

Interest rate per annum (nominal): 24.00%

Productive Loans

Progressive savings deposit product designed to build-up funds for special occassions: Christmas, New Year, Birthday, Fiesta, Valentines Day, among others.

Interest rate per annum (nominal): 24.00%

Provide capital for informal entrepreneurs & low-income individuals who are unable to access financial institutions due to lack of collateral, credit history, or other constraints

Interest rate per annum (nominal): 24.00%

Provide additional capital requirements for small and medium and large enterprises, including working capital augmentation, bridge financing, and inventory acquisition

Interest rate per annum (nominal): 18.00%

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Product Name Purpose Eligible Borrowers Max Loan Amount

PROVIDENTIAL LOANS

Housing Loan
House construction, home improvements or residential house and lot purchase
Regular Members
Php 3,500,000.00
Educational Loan
Payment of tuition fees and other educational expenses, including continuing education, board exam review programs for members or/their beneficiaries
Studying regular members and/or regular members with studying dependents
150,000.00 based on actual school assessment

*up to 50,000 allocation for incidentals (board/lodging, books, among others)
OFW Loan
Finance travel expenses of Oversees Filipino for employment such as placement fees, show money (for tourist & student) and/or transportation expenses
OFW regular members
show money - 1,000,000.00

travel expenses - 250,000
Pension Loan
Regular members with income from pension including under survivorship
18-67y/o - 500,000
68-74y/o - 250,000
75-80y/o - 100,000
Vehicle Loan
Purchase of motorcycle and car for personal use
Regular Members
Php 2,000,000.00
Personal Loan - Regular
For personal consumption, such as but not limited to household expenses, minor house repairs, appliance, gadgets, bills payment, personal travel (transitory product from existing regular loan; no new application shall be accepted; this product may have a feature of a Credit line later)
Regular Members
Php 350,000.00
Personal Loan - Salary
For personal consumption, such as but not limited to household expenses, minor house repairs, appliance, gadgets, bills payment and personal travel
Regular Members
Php 350,000.00
Bonus Loan
Bridge facility for personal consumption
Regular government employees
75% of bonus amount

AUXILLIARY LOANS

Back-to-Back Loan
Multi-purpose loan secured by time deposit
Regular members with time deposit
70% of face amount of TD
Emergency Loan
For medical, eduactional & other emergency needs (has to be defined)
Reg. Member w/medical & educational needs
Php 20,000.00

PRODUCTIVE LOANS

Micro Business Loan
Provide micro and small businesses additional working capital requirements to finance inventory and other business operational expenses.
Regular members owning micro businesses with asset size not exceeding P1M, has less than 10 employees and operating profitably in the past one (1) year
Maximum loanable entitlement computed on 50% of NDI, but not to exceed 150,000
Business Loan - Working Capital
Provide additional capital requirements for small and medium and large enterprises, including working capital augmentation, bridge financing, and inventory acquisition
Regular members owning businesses operating profitably in the past three (3) years
Php 3,000,000.00
Business Loan - Real Estate
Purchase of land and building for agricultural and productive purposes
Regular members owning businesses and farm operating profitably in the past three (3) years
Php 5,000,000.00
Business Loan - Fixed Asset Acquisition
Purchase of machinery, equipment and vehicle for agricultural and productive purposes
Regular members owning businesses and farm operating profitably in the past three (3) years
Php 5,000,000.00

AGRICULTURAL

Agri Loan
Finance the production stage of the agricultural value chain - farm inputs, labor costs and post-harvest activities.

Finance the harvest stage of fruit-bearing trees
Regular members engaged in vegetable, rice, corn, onion and banana farming, aquaculture, poultry and hog raising
Actual farm expenses based on farm budget and assessment