Monetary Requirements
4000 - Share Capital
200 - Regular Savings
300 - Membership
700 - Life Insurance (Renewable yearly)
30 - ID
Total of: PHP 5,230.00
Document Requirements:
Pre-Membership Education Seminar Certificate (Provided by Iwahori Staff)
2 pcs of 2x2 Picture
1pc of 1x1 Picture
1 xerox copy of VALID ID (any government-issued ID) with 3 signature
TIN NO./ID if available
Terms and Conditions:
If you have at least ₱4,000 Share Capital, you are eligible to avail a loan.
The maximum loanable amount is ₱10,000, subject to Credit Investigation (CI).
Members are entitled to life insurance coverage of up to ₱100,000.
Coverage is renewable annually.
Insurance premium is deducted from your dividends every year.
Regular savings will earn interest at 1.5% per annum once a minimum balance of ₱1,000 is maintained.
If there is no deposit or withdrawal for two (2) consecutive years, the account will become dormant.
A ₱50 monthly dormancy penalty will be charged until the account becomes active again.