Armed Forces and Police Savings & Loan Association, Inc. (AFPSLAI)
ELIGIBILITY:

  • Open to all Regular and Associate Members of AFPSLAI who are at least 21 but not over 64 years old
  • Members who are 65 years old and above can still avail provided they have sufficient CCA balance equivalent to or higher than the cost of the unit
  • Must be gainfully employed or have regular compensation income
  • Married member shall secure spouse’s consent and signature in the Loan Application Form (LAF)
LOANABLE AMOUNT:

Loanable amount is up to 70% of the selling price of the vehicle, subject to the borrower's paying capacity. At least 30% of the selling price of the vehicle shall be paid by the borrower (as equity) directly to the car dealer.

LOAN TERM:

1 to 6 years

LOAN INTEREST RATE:

Term Effective Rate (IRR) Nominal Rate (Add-on)
1 year 10.00% 7.26%
2 year 11.00% 6.96%
3 year 11.50% 7.00%
4 year 11.75% 7.07%
5 years 12.00% 7.23%
6 years 14.00% 8.64%