Terms and Conditions:

1. This 0% Interest Hospitalization Loan is exclusive to members and their dependents up to the 1st degree of consanguinity and affinity (i.e. spouse, children, parents).
2. Patient must currently be confined in the hospital or recently been discharged (i.e. within 48 hours) upon submission of loan application.
3. Maximum loanable amount is P50,000.00 (after deducting Philhealth and HMO, if any).
4. Share Capital contribution must at least be 20% of loan amount.
5. Subject to 10% Retention Fund for Share Capital Build-Up.
6. Member/applicant must have at least 6 months HPPCOOP tenure.
7. Subject to a service fee of P500.
8. Loan proceeds will be deposited directly to the hospital if still confined or to the member's bank account on record if patient has already been discharged.
9. Supporting documents: Proof of confinement, hospital bill showing Philhealth and HMO deduction
10. Two (2) comakers are required for loans >P25,000.00. One (1) comaker is required for loans <=P25,000.00.
11. Must be a Member in Good Standing.
12. A member may only have one (1) interest-free Hospitalization Loan at a time.
13. Must be compliant with all the other provisions of the Credit Policy.
14. Non-compliance with any of the above Terms and Conditions will mean automatic disapproval of this loan application.
15. Non-compliant members may still apply for Hospitalization Loan but through the regular HPPCOOP Loan Application process which will require Board exception approval and subject to regular interest rates.
16. Processing time is 2-3 working days from receipt of application form and all requirements.
17. Penalties: In addition to interests, past due amortizations are charged a penalty of three percent (3%) per month.

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