1. A compilation of all of the interviews made upon conducting a proper off-
campus research.
2. Have you experienced “interest”, “discounting”, or “annuity”? Do you avail of
business loan, buy insurance, or avail of financing through discounting?
Experienced Interest
Yes, I did avail for business loan and insurance
When, how, where?
+When: After retirement
+How: *Peer to peer lending
+Where: Credit unions, banks, legit lending owners
Requirements? Benefits?
Requirements:
Photocopy of 2 Government issued ID’s with signature and photo
Valid DTI certificate
Mayor’s Permit
Photocopy of recent 3 months bank statement
Benefits:
Can purchase a house, buy a car, or start a business
3. Monthly Due
Loan Amount 3 Months 4 Months 5 Months 6 Months 7 Months 8 Months
P 40,000 P 14,733 P 11,400 P 9,400 P 8,067 P 7,114 P 6,400
P 50,000 P 18,417 P 14,250 P 11,750 P 10,084 P 8,893 P 8,000
P 100,000 P 36,834 P 28,500 P 23,500 P 20,167 P 17,786 P 16,000
P 150,000 P 55,250 P 42,750 P 35,250 P 30,250 P 26,679 P 24,000
P 200,000 P 73,667 P 57,000 P 47,000 P 47,000 P 35,572 P 32,000
P 250,000 P 92,084 P 71, 250 P 58,750 P 58,750 P 44,465 P 40,000
P 300,000 P 110,500 P 85,500 P 70,500 P 60,500 P 53,358 P 48,000
Manner of Payment:
•Monthly, can be paid via POST-DATED CHEQUES on a semi-monthly or tri-monthly basis.
Note: *Peer to peer lending, or person to person lending, allows you to skip the bank and borrow from individuals. You can borrow
from complete strangers or just use peer to peer lending services to structure loans between friends and family.
4. Have you experienced “interest”, “discounting”, or “annuity”? Do you avail of
business loan, buy insurance, or avail of financing through discounting?
Experienced Interest
Yes, we did avail for business loan
When, how, where?
+When: 1 year ago
+How: Bank Loan
+Where: BDO
Requirements? Benefits?
Requirements:
Photocopy of 2 Government issued ID’s with signature and photo
1 1x1 and 2x2 photos
Valid DTI certificate
Mayor’s Permit
Photocopy of recent 3 months bank statement
Benefits:
You can choose whether to immediately start your business after the loan or not
5. Sample Computation:
Manner of Payment:
Monthly
6. Insurance Plan and credit card holder of what
company?
Insurance Plan holder of Eternal Plans, Inc.
insurance company
Credit Card holder of BPI Express Credit/The
pure Mileage Card
How did you apply for one?
Insurance:
Through an insurance agent
Credit Card:
Through inquiring and application invitation of
the bank
7. Is insurance and investment or expense? Why? What is the
purpose of insurance?
Insurance is an investment because when you finish applying for
one, you already know that all of your future financial expenses
when something might happen will already be secured.
How is the payment done—where do you pay? How much? When,
for how long?
The payment is done semi-annually. I pay at the insurance agent
or the insurance company. P4,632.00. It will be a 6 month long
duration for 5 years.
How much interest is charged on the use of credit card? What are
the other fees paid?
The interest would be 3.40%.
The other fees that will be paid would be the annual membership
fee of P2,050.00, supplementary fee of P1,025.00 when you reach
the 6th supplementary period.
8. Sample Computation made on the insurance and
credit card:
Insurance:
Life insurance is expressed as a rate per P1,000 of
insurance. To calculate Life Insurance premium you
take the benefit volume per P1,000 of coverage
multiplied by the monthly rate. For example, to
calculate the monthly premium based on a 2x annual
earnings (assume P40,000) schedule and a rate of
P0.12 per P1,000 of coverage per month, the
calculation is: Benefit Volume * Rate / P1,000 =
Monthly premium P80,000 * 0.12 / P1,000 = P9.60
9. 25% disability, 25% of the 60% disability, 150% of 100% disability, 350% of
Sample calculations capital is paid out the capital is paid out the capital is paid out
Sum insured CHF 200,000 CHF 200,000 CHF 200,000
Degree of disablement 25% according to the 60% according to the 100% according to the
indemnity scale indemnity scale indemnity scale
Capital payment CHF 50,000 CHF 300,000 CHF 700,000
10. 1. The sum of all transactions for the day is computed.
e.g. P 2,000.00 + P 500.00 - P 1,000 payment = P 1,500
2. The sum of all transactions is multiplied by the applicable interest
rate, (then multiplied by the number of days until the Statement
Date and) divided by 30. The result is the finance charge for the
day.
say 10 days till statement date :
P 1,500.00 x 3.5% per month/30 = P 1.75/day x 10 days
= P 17.50
3. This results to the new Outstanding Balance that will be carried
over to the next
Balance P 1,500.00 + P 17.50 = P 1,517.50 this month’s balance
Suppose you did not pay anything, thus :
P 1,517.50 x 3.5% p.m. = P 53.11
hence :
Last Months Balance + Interest = This Month's Balance
P 1,517.50 + P 53.11 = P 1,570.61
new effective interest rate = 3.5305%
(and increasing )
11. What is annuity?
Annuity is any continuing payment with a
fixed total annual amount
How is this applicable to the service offered
by the company?
It is applicable to the service offered by the
company by providing us employees and our
respective clients to allot certain financial
necessity an assurance of money on a said
time.
