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Why Budgeting Should be a Part of Your Holiday Planning

Empower Yourself through Financial Discipline
Practical Tips to Grow Your Savings and Reach Your Financial Goals

May 26, 2023 | by HC Mutual

Being financially disciplined takes a lot of work and patience. In our current economy, it is tempting to park our savings goal and concentrate on attaining our needs and buying the things that we want. However, the best way to get our money’s worth is if we pay ourselves first. 

Reaching a substantial savings goal can be very rewarding. Just imagine what you can do—like purchasing your dream car or house, going to your dream destination, or taking a break from working for a while. 

Your progress highly depends on your commitment, patience, and motivation to grow your savings. To help you stay committed to being financially disciplined, here are some easy-to-follow tips! 

1. Always set a clear distinction between your needs and wants.
 

This helps set your priorities straight. When you clearly and regularly categorize your needs and wants, you can avoid spending on items or services that you don’t need for the week or the month. You can easily identify what to pay or purchase first before considering the rest of the items or services on your list. 

If ever you want to buy items that you don’t need, wait for a day or two before deciding to buy it so you can make sure that your priorities come first. 

Have a copy of your list of needs on your smartphone so you can take a look at it every time you think of buying something.

2. Categorize your financial goals into three:
short-term, mid-term, and long-term.

Categorizing your goals helps in realizing your priorities. Here’s an example of how you can categorize your goals:

With clear and categorized goals, it’s easier to be reminded of why you’re
saving and get motivated to develop wise spending habits.

3.Track your progress monthly and give yourself simple rewards for your accomplishments.

 

It’s important to make sure that you’re on track to growing your savings and achieving your goals. Practice monitoring your expenditures and savings regularly so you can identify what practices work for you and in which areas you need to improve. 

Most people find it greatly motivating to visualize progress. You can use a notebook or board as your tracker. Get creative with it so there’s an element of fun whenever you mark your settled payments or purchases. You can also use free digital tracker apps so you can double-check it wherever you are. 

Of course, nothing’s better than having your hard work rewarded! Whenever you’re able to pay all your bills or reach your target savings for the previous months, treat yourself by going to your favorite restaurant, buying new clothes, going to the cinema, or anything that can motivate you.

4.Open a rewarding savings account.

 

It’s best to have a part of your financial discipline on autopilot. This assures that you will always pay yourself first every time you receive your monthly income. Having a savings account with good interest rates also helps you grow your savings and achieve your financial goals sooner. 

HC Mutual offers flexible and affordable plans that help you manage your finances effectively so you can start building the life you aspire to have. Choose the plan that works best for you and watch your savings grow.

  • Flexible payments terms of 3, 5, or 7 years
  • 3% earnings from your savings per annum
  • Easy saving through payroll deduction automatic debit arrangement, or payment through any U Store branch nationwide
LEARN MORE

Save up and earn big for that dream house, dream vacation, or dream purchase
with HC Mutual!

  • Start saving at Php 2,424, Php 4,848, or Php 7,272 per month
  • 5-year plan
  • 5% per annum after 5 years and upon completion of the savings plan
LEARN MORE

Staying committed to being financially disciplined and growing your savings can be daunting but with
effective strategies and tools, you can effortlessly integrate it into your daily life until you can finally experience its fulfilling results.

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ANNOUNCEMENT: HC Mutual Annual 2023

ANNOUNCEMENT: HC Mutual Annual Stockholders’ Meeting

May 3, 2023 | by HC Mutual

NOTICE TO THE STOCKHOLDERS OF HOME CREDIT MUTUAL BUILDING & LOAN ASSOCIATION, INC.

Please be advised that due to the schedule of compliance with the filing of the company’s Audited Financial Statement (AFS) and Annual Reports, which are among  the documentation requirements of the Securities and Exchange Commission for the Annual Stockholders’ Meeting (ASM) to be held on the fourth Thursday of April, the 2023 ASM has been postponed and re-scheduled to a later date and time to be determined by the Board. A notice of the new ASM schedule with the agenda will be sent to you.

 KEVIN LYNCH

President

Board Resolution: 17C HCMBLA PW661 postponement 2023 asm 
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Start Your Journey Towards Financial Discipline

Start Your Journey Towards Financial Discipline
Effective Strategies to Develop Smart Money Habits

January 25, 2023 | by HC Mutual

Developing financial discipline is one of the best things you can do for yourself. It refers to the ability to take charge of your income and expenditures: understanding how much money you earn and spend and how much you should save and invest. It also involves veering away from bad spending habits and including mindful spending in your daily lives.

It might sound difficult to attain knowing that the economic impact of the pandemic is still experienced by everyone. However, you can start gradually by building up wise spending habits one by one until it becomes part of your daily life. The sacrifices are worth it in the long run—having financial discipline enables you to achieve your financial goals sooner. It also helps you acquire financial security that eventually empowers you to create the life you aspire to have.

To help you get a good start, here are effective ways in developing financial discipline:

1. Educate yourself.
 

Learn how to manage your finances from different resources. Read books or credible websites, watch informative videos, listen to podcasts, or talk to people you know who have mastered financial discipline. Choose the practices that you believe will work for your lifestyle and slowly integrate it into your habits. Avoid being too hard on yourself if you can’t get the hang of it immediately—building discipline requires utmost patience.

2. Eliminate unnecessary expenses.
 

Committing to financial discipline comes with delaying or letting go of expenses that you don’t need. Here are some tips:

  • Unsubscribe from paid applications or premium accounts that you don’t always use.
  • Reduce the number of online shopping apps on your phone.
  • Learn how to cook affordable and easy-to-prepare meals so you have other options aside from dining out or using food delivery apps.
  • Don’t feel obligated to buy something that’s on sale. Wait until you have the budget for it.
  • Avoid buying the latest clothes, shoes, or gadgets if you still have a lot to use and have no other reason for buying it aside from the fact that it’s on-trend.

Reducing your unnecessary expenses does not mean that you cannot have fun using your hard-earned money. Its main goal is for you to establish a balance between spending for fun and spending wisely.

3. Set specific and realistic financial goals.
 

Having specific and realistic goals are more motivating because they are more attainable, and could give you the confidence and feeling of achievement that is necessary for effectively changing your spending habits. You can start by categorizing your goals into short-term and long-term goals so you know which ones to prioritize. Take a look at this sample list:

Short-term goals

  • Create a weekly/monthly budget
  • Pay off existing debts and credit card bills
  • Set up an emergency fund

Long-term goals

  • Buy a property
  • Travel abroad
  • Seek sound investments
4. Protect and grow your savings.
 

Put up a savings plan that will help you achieve your financial goals and help you build the discipline of saving. You can set in your mind to not touch that fund, all while it earns interest. HC Mutual offers flexible and affordable plans that help you manage your finances effectively so you can start building the life you aspire to have. Choose the plan that works best for you and watch your savings grow.

Secure your future with
  • Flexible payment terms of 3, 5, or 7 years
  • 3% earnings per annum
  • Easy saving through payroll deduction automatic debit arrangement, or payment through any U Store branch nationwide
LEARN MORE

Save up and earn big for that dream house, dream vacation, or dream purchase with HC Mutual!

  • Start saving at Php 2,424, Php 4,848, or Php 7,272 per month
  • 5-year plan
  • 5% per annum after 5 years and upon completion of the savings plan

LEARN MORE

Starting your journey towards developing financial discipline may be difficult at first but with the proper motivation and strategies to guide you, it will be easier to master and until it becomes second nature to apply it in your daily life.

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Why Budgeting Should be a Part of Your Holiday Planning

Why Budgeting Should be a Part of Your Holiday Planning
Useful Tips to Avoid Going Broke after the Holidays

November 23, 2022 | by HC Mutual

Christmas is fast approaching. As early as now, Filipinos are starting to brace themselves for the happiest and busiest time of the year. Parties, events, and celebrations are filling up your calendar, and now that COVID-19 restrictions have loosened compared to the previous years, it goes without saying that Filipinos are bound to go all out.

Quick reality check: planning and attending this series of festivities entails bigger expenses. While it’s a given that food, gifts, and travel are anticipated costs, there will be unexpected expenses that might hurt your wallet. Given today’s economy, it’s much wiser to plan your holiday spending in advance, so that you can fully enjoy the season without risking financial security.

While making the most out of the season is your priority, it’s also important to consider what happens next. If you overindulge, there’s a good chance you’re sacrificing your financial stability for the following year. You don’t want to welcome 2023 with unpaid bills, do you?

To help you achieve stress-free holiday spending, here are some budgeting tips:
1. Take advantage of the best holiday deals as early as now.
 

It’s true that during this season, temptations are in every corner of the real and digital world. Brands and businesses come up with their own ways to get you to buy something from them. Flash sales, holiday contests, and product bundles line up to capture the attention of eager-to-spend Filipinos.

With proper financial planning, you can take advantage of this endless arrival of holiday deals. You’ll enjoy more flexibility when you go out to shop. You can decide which sales promos provide more value for your money. With no pressure to spend just because time is running out, you’ll walk out of the mall feeling satisfied with the decisions you’ve made.

2. Create a list of expenses to monitor your budget.
 

Christmas is the most wonderful time of the year. For some, it can also be a stressful one, because you get twice as many of your usual commitments. There are financial decisions you have to make here and there, and it can definitely take the fun out of the season.

Building a holiday-specific budget lets you make your potential purchases more predictable. By creating a list of expenses and categorizing them according to importance, you’ll have a solid plan as to how you and your family can ensure enjoyment without being caught off-guard, money-wise.

3. Spend responsibly using the 50-30-20 rule.
 

A realistic holiday budget lets you know if you’re on the brink of overspending. It allows you to track your purchases, thus preventing you from damaging your savings. It’s important to remember that the Christmas season only lasts for a while. Sooner or later, the holiday decorations will be taken down, Christmas carols will stop playing, and everyone will go back to their usual routine.

If you’re looking for ways to spend responsibly, the 50-30-20 rule is a surefire way to build a budget that goes far beyond the holidays. This easy and efficient budgeting method divides your income into categories: 50% for needs, 30% for wants, and 20% for debt payment and savings.

And if you have yet to acquire a savings plan, HC Mutual provides fast, affordable, and hassle-free financial services that help you save money effectively and sustainably. Through its 5ave Up! program, you can build disciplined savings, and be on your way to the life you deserve.

Save up and earn big for that dream house, dream vacation, or dream purchase with HC Mutual!

  • Start saving at Php 2,424, Php 4,848, or Php 7,272 per month
  • 5-year plan
  • 5% per annum after 5 years and upon completion of the savings plan

Everyone expects this Christmas to be merrier than the previous ones. Throughout the season, you might find yourself itching to spend excessively. Let your priorities be your guide. Start a budget and be wise in your spending decisions.

Merry Christmas, everyone!

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Wise Spending on the Season of Giving

Wise Spending on the Season of Giving
Tips on How to Save Money during the Holiday Rush

September 22, 2022 | by HC Mutual

For Filipinos, Christmas is always a season of giving and in whatever situation the country is, holiday traditions remain alive in most Filipino homes.

People consider end-of-the-year festivities as their reward for overcoming another year—justifying the reasons to celebrate it through parties, family gatherings, and gift giving. The upcoming 13th month pay and other bonuses that employees will receive makes it even more tempting to go extra; it is not uncommon for many Filipinos to go all out and spend all their money for special occasions.

This is a hard habit to break—but considering the state of our economy in the past years, it is wiser to include savings as part of your gift to yourself this upcoming holiday season. Here are some of our tips for saving even during the season of spending:

Watch out for holiday sales.
 

Buying gifts does not need to burn your pockets empty. You can start by taking advantage of the shopping season: there will inevitably be massive sales, promos, and discounts both in shopping malls and online shops. Even before December, you can already spot deals on many items like gadgets, clothes, home essentials, and appliances. Buying on-sale items also lets you buy in bulk for a cheaper price so you can get everyone something for the holidays.

Stay-at-home dinner is the new cool.
 

Another money-saving practice is doing a home potluck rather than eating at restaurants. Since you can choose where to buy the ingredients for your recipes, it will be cheaper than eating out. As a bonus, you can choose to celebrate at home or in another preferred location instead of scrambling in the crowds or stressing to get reservations.

Unleash your creativity.
 

The holiday season is the time of the year when people spend a lot of time with their families. It is a good idea to bond over new money-saving holiday traditions while adding more fun to the mix: Instead of buying gifts, you can choose to be more creative and give each other homemade presents for Secret Santa.

Homemade gifts such as custom-painted coasters, phone cases, plates, mugs, scented soaps, bath bombs, and jewelry are also more personal because you can create it according to the personality of the receiver.

Reward yourself with a savings plan.
 

One of the best gifts you can give to yourself and to your loved ones is a savings plan. Instead of spending a huge amount on material things, it is smarter to secure your future as a gift to your future self and those you care about.

HC Mutual provides fast, affordable, and hassle-free financial services and loans that help you save money and achieve your goals. If you are aiming to purchase your dream home or car, the KayaMo Saver’s Plan can help you acquire it faster. Aside from its easy saving options and flexible payment terms, you can also enjoy access to KayaMo Family Saver’s Plan which extends the full member benefits to your relatives.

Avoid spending all your cash at once.
 

If you are planning to give your loved ones a travel spree or any extravagant gift for the upcoming holiday, consider taking out a loan – taking into account your budget for the next months – so as not to spend all your cash in one go. In this way, you can celebrate the holidays as you wish without worrying about how much is left of your hard-earned savings.

Plan for a brighter future.

Get on track to acquiring your financial goals with a convenient and flexible plan. The KayaMo Saver’s Plan is designed to help Filipinos safeguard their hard-earned savings and secure a better future.

  • Flexible payment terms of 3, 5, or 7 years
  • 3% earnings per annum
  • FREE 1-year Accidental Life Insurancecoverage worth Php 100,000
LEARN MORE
Make your dreams possible.

Any dream is within reach with a multi-purpose loan that offers low interest rates.

  • Interest rates as low as 0.88%
  • Loan release within 24 hours of approval
  • Fast and hassle-free loan application
LEARN MORE

It is highly tempting to go overboard with spending during the holiday rush. However, it is way smarter to have a sense of control so you will not deal with any financial stress after the holidays. Have merry celebrations and wise decisions!

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Things to Consider before the Big Purchase

Condo or House: Which Suits You Best?
Things to Consider before the Big Purchase

September 05, 2022 | by HC Mutual

The past two years have further established the importance of having a safe and decent home. Filipinos have spent a lot of time at the four walls of their sanctuary due to the repeated lockdowns since 2020. Having your own safe space is a huge deal that is often overlooked by many of us. It is only fitting for home buyers, first-timers or not, to think about what type of home to invest in.

The usual debate that home buyers get into nowadays is whether to buy a condo or a house. Your decision will highly depend on your budget, location, lifestyle, and other preferences that you may have. If you are still undecided and in need of help, read on to find out the various factors that you should consider before making your big purchase.

Security
 

Most condominiums provide reliable security 24/7. All entrances are looked after by security guards. Living in a condo also gives you a sense of closeness with your neighbors as you can interact with them from time to time. You can also entrust your place to a next-door tenant if ever you plan on going away for a couple of days.

If you are more inclined to buy a house and lot, your level of security depends on the location that you choose. There are numerous high-end subdivisions and villages in Metro Manila that offer efficient security. If buying this type of property is within your budget, then this might suit you. For those of you with a smaller budget, there are also affordable houses in major cities and even in suburban areas particularly Rizal, Laguna, Cavite, and Bulacan. Not all of these have 24/7 security and are within gated communities but you can always find safe neighborhoods in these places.

Privacy
 

In terms of the privacy that you will enjoy, living in your own house can be more satisfying for people who prefer minimal interaction with neighbors. Since you’ll have your own space and you don’t have to interact with neighbors in common areas or facilities, it is possible to live in the neighborhood for months or even years without having to bond with the other residents. If you’re the type who values privacy and quiet time, a single storey residential house can be a good investment to have.

In condo living, you share the same floor and hallway with the other residents so you’ll pass by each other from time to time and encounter them in common areas like the gym, pool, and elevator. Not all units are built with soundproof walls so you may hear the noise from your neighbors. If you’re an extrovert who enjoys the constant presence of people around you, condo living can be enjoyable.

Interior Space
 

Some upscale condominiums are built with an interior that is comparable to some houses. However, it is still limited when it comes to your private outdoor space like a garden or parking space because you will be sharing it with the multiple residents in the building. Your interior can be as tiny as an 18 sq m studio unit. In general, condominium units have an average of 50 sq m floor area.

Owning a house gives you the privilege of having outdoor space for your dirty kitchen, garage, parking, or even a gym. If you compare a low cost condominium to a single residence, the latter has greater average living space for you to customize and transform into the house of your dreams. Owning a house is also considered as a better investment for families or couples who plan to build one in the future.

Cost & Additional Fees
 

In some prime locations in Metro Manila, condominiums are more affordable than houses and lots. The average price is around PHP 14.5 million while the average price for a condo unit is PHP 5.9 million.

In choosing between a condo and a single-detached house, also consider that in the long run, owning a condo might become more costly because of steep monthly association dues that cover the operational and maintenance of the entire condominium. Monthly dues in Metro Manila usually range from PHP 1,000 to PHP 8,000. The price depends on the unit size, condo location, and property developer.

Still there are many attractive and well-built, low cost affordable homes ranging from 1.5M to 5M. Likewise some nice but smaller condos can range from 1M to 4M.

Maintenance and Renovations
 

Living in a condominium allows you to only focus on taking care of your unit’s interior. You don’t have to worry about maintaining a garden, parking space, or veranda. On the other hand, owning a house gives you full responsibility for its overall maintenance.

Extension projects are not allowed in condominiums because the space is limited. Condo owners are only allowed to renovate within the boundaries of their unit. However, everything should be approved by the property management office.

Owning a house gives you more freedom to upgrade your living space whenever you want because its entirety is rightfully yours. Of course, the entire cost of maintenance and renovations will be yours, too.

Keep your precious first
home in top shape.

Get on track to achieving your dreams for the future with a flexible and hassle-free loan. The KayaMo Home Loan is designed to make it easy for Filipinos to own or build their first home.

  • Php 450,000 to Php 20M loan amount
  • Only 10% downpayment required for properties below 3M
  • Eligibility includes houses, condos or apartments, and even home repairs and renovations
LEARN MORE
Rights to the Property
 

Condo living is sharing ownership of land which is why the residents have to follow certain rules. Some of them include schedules for using common facilities like the gym and pools. Others have a limit on the kind and number of pets that you can have.

In contrast, buying a house and lot makes you the owner of an entire indoor and outdoor space. It’s an investment that you can pass on to your kids because the value of land steadily appreciates over time. This makes it a better long-term investment than a condo unit.

Accessibility
 

Condo living has become a trend, especially among millennials and those who live a fast-paced lifestyle. Most condominiums have convenience stores, laundry shops, and restaurants located on their ground floor so residents do not have to go somewhere else to do their errands.

A condominium’s accessibility and location are usually its main selling point. Most condominiums are located near or at the center of many commercial establishments and business districts. This makes it the top choice for individuals working in cities. When your home and office are very near to each other, you can save a lot of time and energy in commuting or driving to and from your workplace. On the other hand, living too close to your workplace can also make you stay in it longer than you should, which can also have some negative effects.

Most affordable houses and lots are located in suburban areas. If you’re a commuter who works in Metro Manila, this kind of location can be a bit of a burden since it is far from central business districts. However, this location gives you the privilege of being away from the hustle and bustle of urban living. You’ll be able to enjoy fresh air and more outdoor activities. Many individuals prefer buying single residence units in provinces near Metro Manila so they can enjoy easy access to peaceful views such as mountains, rice fields, and beaches.

There are a number of things to consider in choosing the home that’s right for you and your lifestyle. What’s important is to look at the long term—whether it’s a condo unit or a house and lot, each has its pros and cons so it’s important to carefully weigh which best serves your needs and meets your capability in investing.

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ANNOUNCEMENT: HC Mutual Annual

ANNOUNCEMENT: HC Mutual Annual Stockholders’ Meeting

June 2, 2022 | by HC Mutual

WHEN

July 27, 2022 (Wednesday)

WHERE

Board Room Level 26
Insular Life Corporate Centre
Insular Life Drive, Filinvest Corporate City
Alabang, Muntinlupa City

Notice to the Stockholders

Please be advised that due to the schedule of compliance with the filing of the company’s Audited Financial Statement (AFS) and Annual Reports which are among the documentation requirements of the Securities and Exchange Commission for the Annual Stockholders’’ Meeting (ASM), the Directors postponed the said meeting to July 27, 2022.

A notice of the meeting with the agenda will be sent to you.

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5 TIPS TO PRESERVE THE VALUE OF YOUR HOME

5 TIPS TO PRESERVE THE VALUE OF YOUR HOME

February 24, 2022 | by HC Mutual

One of the many goals of any average earning adult is to own a home and furnish it. Investing in your very first home can be considered as one of life’s most important milestones—a symbol of independence and financial stability. But what happens when you find yourself a new dream home in the future? What will you do with the current home you have?

Most homeowners only have need for one home at a time. Maintaining upkeep for two homes may prove to be too expensive, especially for first-time homeowners. When you find yourself wanting to upgrade to a bigger and better home, set up your old property for sale. Similar to upgrading gadgets, it’s best to sell your old device in order to make way for something better, and in order to get your money’s worth, it has to be in good condition. Same goes for houses. You have to maintain your house’s condition in the event that you want to sell it to someone else. Here are some tips for new home owners on how to protect the value of your home.

Protect your home from pests.

One of the biggest deterrents to prospective buyers are termites. Termites are pests that burrow themselves within the structure of your home and eat it from the inside out. One instance of termites within your home can be detrimental to its value, so you have to make sure your house is clean from termites or you won’t have a house to sell. Many pest control companies offer termite removal services to help you secure your home in no time.

Other pests like rats and insects can also be a turn off for prospective buyers. Make sure to regularly check your home for any invasive pests that can cause damage or disease by placing traps, or having professionals handle it.

Schedule regular electrical
and plumbing maintenance

Keeping up to date with the maintenance of fundamental house components is very important in preserving its value. Due to daily usage, some structures like piping and electrical wiring may be damaged in time. In some cases, wiring and water system faults may also cause more damage to other parts of the home, like its structural integrity. So before selling any house, be sure to have a professional survey and inspect your house’s electrical condition and to check its water systems condition, and make repairs if necessary, to make sure they are safe and functional.

Maintaining the exterior of your home

While maintaining the inside of your house is important, one mustn’t forget the importance of maintaining your house’s exterior. Potential buyers will be interested in the look and design of a house when viewed from the street, so conducting minor exterior maintenance regularly is a must for any homeowner.

Consider repainting your house’s exterior if the old paint has started chipping away. Updating your house’s color scheme to a more modern taste can also help attract Consider repainting your house’s exterior if the old paint has started chipping away. Updating your house’s color scheme to a more modern taste can also help attract more buyers. If your house has a front yard, you can start by trimming the grass or reworking the stone/gravel path.

 

more buyers. If your house has a front yard, you can start by trimming the grass or reworking the stone/gravel path.

If you’re setting up your property for any open house events, you may find yourself stressing about cleaning whenever a buyer wants to survey the inside of your property, so consider scheduling regular cleaning. This will not only help maintain your home’s atmosphere while you live in it, but also help preserve its property value. Well maintained homes have a better chance of selling at higher prices due to the appeal and the atmosphere it exudes.

Make sure you have the right
insurance coverage

Before you open up your house to potential buyers, be sure to double check the coverage of your property insurance, especially since natural disasters like typhoons and earthquakes are unavoidable when living in a tropical country. If your house is covered with the right insurance, you can assure your property’s value will not go down even when a calamity strikes. Making sure that your house is covered by insurance will help ease your mind and your potential buyer’s mind as well.

Plan on updating your house every few years

You may find yourself wanting to decorate your home to have it more personalized to your tastes. If you find yourself the type of person who might want to upgrade to a different house, instead of personalizing, try updating your house’s features every few years. The appliances and furnishings found in the house can be one way to both cater to your want of personalizing while also updating and upgrading your house. Different design and decorating trends pop out every few years, so it’s best to keep an eye out for those and to try and update your house to what’s in.

Here at HC Mutual, we believe that preserving your first property’s value can be your ticket to finding a better and more suited house for your house. Whether it be your first home or second, it’s important to keep these 5 tips in mind to ease your mind and to start your path towards financial stability.

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KayaMo Home Loan can help you start your journey on owning your first home, as well as in maintaining your home’s value by helping you pay for home upgrades or renovations. As an HC Mutual member, you can enjoy numerous benefits:

  • Easy application process
  • Access to our partners and a wide range
    of brand new homes
  • Flexibility to choose your own property
  • Payment holiday extensions
  • 1 year Accidental-Life Insurance
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CASH LOAN BASICS How it works and what you need to know

CASH LOAN BASICS
How it works and what you need to know

January 11, 2022 | by HC Mutual

What is a cash loan?

A cash loan is a multi-purpose loan that you, the borrower, receives in cash. Also known as a personal loan, this type of loan is unsecured and does not require any sort of collateral in stocks, fixed assets, or property. In the end, the cash loan is backed only by your assurance to repay your lending bank, cooperative, or financial institution.

How do cash loans work?

When you take out a cash loan, your lender charges interest for loaning you money. Loan repayment is done through monthly installments – paying the amount you borrowed along with interest. Depending on the terms of your cash loan, this credit period can range from 6 months up to 24 months.

Since personal loans are unsecured, the interest rates can run as high as those found in credit cards. These interest rates may be fixed or flexible, depending on your lender’s terms and assessment of your credit history. Some lenders have an increasing interest rate throughout longer payment terms.

Be prepared for life’s ups and downs.

We are here to support you in taking care of what’s important to you, whether in good days or in challenging times. The HC Mutual KayaMo Cash Loan is a fast, multipurpose loan that you can turn to without touching your hard-earned savings. 

  • Loan release within 24 hours of approval
  • Interest rate as low as 0.88% (add-on)
  • Hassle-free cash disbursement through direct bank deposit or USSC Super Padala Remittance at over 800 USSC Branches nationwide
LEARN MORE

What do you need to know about cash loans?

Your loan,
your needs.

With a wide range of offers available, cash loans differ from lender to lender. Even those with the same interest structure can vary in requirements, fees, and penalties. It’s best to compare a selection of offers to see what matches your current needs, capacity, and financial situation.

Your credit
history matters.

Your chosen lender determines your creditworthiness based on your income, credit score, and other outstanding debts. Their assessment affects your borrowing limit, or the amount you can receive, and the loan interest rate. As cash loans are based on the promise of repayment, lenders look for those who have an established history on-time payments, stable income, and a low income-to-debt ratio.

Your monthly
responsibility.

Borrow only what you need and repay your loan as soon as possible. Before taking a loan, you should note how much you need to pay over the entirety of the loan. This lets you to plan and budget for the upcoming months to avoid late fees and extra interest charges.

Cash loan tips and reminders

Thinking of taking out a cash loan? Here are some things to remember so you can maximize its advantages while maintaining healthy finances. 

  • Compare loan offerings as these can vary in requirements, fees, and penalties.
  • Deal with only reputable financial institutions that are registered under the DTI and SEC.
  • Your credit history makes a difference. From your income, credit score, and other outstanding debts, lenders can get a sense of your creditworthiness.
  • Your credit assessment affects your borrowing limit, or the amount you can receive, and the loan interest rate.
  • Make sure to pay your loans on time to avoid incurring late fees and extra interest charges.

Overall, cash loans are a quick way to fund anything from emergency expenses to travel costs to large purchases. However, cash loans are still only a short-term source of financing with high interest rates. It’s always best to maintain healthy, sustainable personal finances to the best of your ability for the long term.

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Cash Loan HC Mutual

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Finding a Home in the New Normal: 6 Things to Look Out For

Finding a Home in the New Normal: 6 Things to Look Out For

September 27, 2021 | by HC Mutual

Owning a home is the dream for many Filipinos. But because of COVID-19, many of us have placed building or buying property on the back-burner to prioritise the essentials and to adjust to our world in the midst of a pandemic.

As we adapt to the new normal, people are coming back to the market to look for their dream homes—and we’re here to help you find the right fit for you if you are one of them. We’ve listed down some tips and things to look out for online when choosing or shopping for your new home.

1

Set your budget.

Before you browse listings or contact a real estate agent, set a budget to make sure that you can find a home with everything you need. Factor in the price of the property PLUS any additional expenses like taxes, renovations, insurance, and utilities.

First time buying a home? Read our guides on property fees and taxes and house shopping.

2

Double down on comparing interest rates.

Finding a nice home may make you want to close the deal immediately. However, look at your other options first and compare interest rates, prices, and the property’s value for money. Developers and sellers offer more competitive rates now because less people are actively looking to buy real estate.

3

Ask for photos, videos, or virtual tours.

Expect to look at homes or even close the deal without actually visiting the space because of restrictions and safety regulations. Don’t be afraid to ask for multiple photos and videos of the different parts of the home. Ask for close-ups and video calls to make sure that the property is in good condition.

Collect milestones in your first home.

Get on track to achieving your dreams for the future with a flexible and hassle-free loan. HC Mutual designed the KayaMo Home Loan to make it easier for Filipinos to own a home.

  • Php 450,000 to Php 20M loan amount
  • Payment holidays extension in case of emergencies
  • 1-year Accidental-Life Insurance coverage worth Php 500,000
LEARN MORE

4

Research the area’s internet providers.

One major factor to consider in our new normal is your internet connection. With online classes and the work from home setup for some employees, make sure that your WiFi is stable and can handle multiple device connections at all times.

5

Consider the number of rooms.

Your living space is especially important today. In case a member of your family needs to quarantine, would you have a designated room or area for self-isolation? Having enough space is also good for your family’s health and well-being in the long run. By preventing overcrowding in your home, you lower the risk of disease, stress, and sleep disorders.

6

Check the neighborhood’s accessibility.

With how unpredictable these times can be, having access to essential establishments like grocery stores and hospitals is vital. Alternatively, make sure that your home can be reached by couriers, food deliveries, and the like.

Above all else, consider what you want and need, your comfort, and your safety. These are the most important factors to consider because your home is where you build up the future with your family.

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First Home Home Loan Home Tips

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