Department of Trade and Industry(DTI)

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Date: Oct. 9, 2023, 12:23 p.m.

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Date: 2023-10-09 15:36:19.000000

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Date: 2023-11-24 14:49:28.000000

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Motorcycle Loan Interest Regulation

Published by Department of Trade and Industry(DTI) on Oct. 9, 2023.
Requested from DTI by J. Navelgas at 12:23 PM on Oct. 9, 2023.
Purpose: For awareness
Date of Coverage: 08/01/2023 - 10/09/2023
Tracking no: #DTI-780415528187

J.NAVELGAS Oct. 9, 2023, 12:23 p.m.

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?

C.PAR Oct. 9, 2023, 3:36 p.m.

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

C.PAR Nov. 24, 2023, 2:49 p.m.

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. FEEDBACK Kindly click the Feedback Button at the upper right corner of the page and rate our service. Thank you. Respectfully, FOI Receiving Officer

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