These Digital Loan Terms govern loan applications submitted through MagCoop’s digital platforms.
By submitting a loan application electronically, the member agrees to these terms.
Only active MagCoop members may apply for loans.
Loan approval remains subject to MagCoop’s lending policies.
MagCoop may evaluate loan applications using membership records and financial information available in cooperative systems.
Additional documentation may be required.
Borrowers agree to repay loans according to the repayment schedule issued by MagCoop.
Repayment obligations may include:
Borrowers authorize MagCoop to process repayments through payment methods designated by the borrower, including:
Recurring or scheduled payments may be processed through authorized payment providers.
Borrowers agree that MagCoop may contact them through:
These communications will be used for loan-related matters.
Borrowers confirm that all information provided in the loan application is true and accurate.
Electronic submissions and digital acceptance of loan terms shall have the same legal effect as written signatures, in accordance with the Electronic Commerce Act (Republic Act No. 8792).
These terms are governed by the laws of the Republic of the Philippines.