Department of Trade and Industry

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  • REQUEST SUBMITTED

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    Date: 2023-10-09 12:23:56.764965

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    Date: 2023-10-09 15:36:19.159890

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    Date: 2023-11-24 14:49:28.880818

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Motorcycle Loan Interest Regulation

Requested from DTI by J. Navelgas at 12:23 PM on Oct 09, 2023.
Purpose: For awareness
Date of Coverage: 08/01/2023 - 10/09/2023
Tracking no: #DTI-780415528187

Navelgas 12:23 PM, Oct 09, 2023 

Hi! I would like to request the following:
1. is there any government policy regulating a lending company in terms of a loan interest that it can impose, particularly to a motorcycle loan?
2. the company where I bought a motorcycle told me that they don't sell a particular model in cash basis, their reason is they have a limited stock so they can only sell it via loan? is that valid?
3. I was requesting the motorcycle company where I bought a motorcycle to give a schedule of the loan payment, but was told that it will be available only after 3 payments (out of 18 installments).is that allowed?

Par 03:36 PM, Oct 09, 2023 

October 9, 2023

Dear Julius,

Thank you for your request dated Oct 09, 2023 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for Motorcycle Loan Interest Regulation.

We received your request on Oct 09, 2023 and will respond on or before Oct 30, 2023 12:23:56 PM, in accordance with the Executive Order's implementing rules and regulations.

Should you have any questions regarding your request, kindly contact me using the reply function on the eFOI portal at https://www.foi.gov.ph/requests/aglzfmVmb2ktcGhyHQsSB0NvbnRlbnQiEERUSS03ODA0MTU1MjgxODcM, for request with ticket number #DTI-780415528187.

Thank you.

Respectfully,

Cresenciano Par
FOI Officer

Par 02:49 PM, Nov 24, 2023 

November 24, 2023

Dear Julius Navelgas,

Greetings!

Thank you for your request dated Oct 09, 2023 12:23:56 PM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.

Your Request

You asked for Motorcycle Loan Interest Regulation.

Response to Request

The requested information was successfully released.

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FOI Receiving Officer

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