Letter of Instructions No. 338 Guidelines Governing Implementation of P.D. No. 745

November 18, 1975

LETTER OF INSTRUCTIONS NO. 338

TO	:	The General Manager
		Government Service Insurance System

		The Administrator
		Social Security System

In the implementation of Presidential Decree No. 745 dated July 15, 1975 authorizing the liberalization of financing and credit terms for low-cost housing to be undertaken by domestic corporations and partnerships with at least three hundred (300) employees or workers, exclusively for such employees and workers, the following guidelines shall be observed:

1. the interest rates on the loans granted shall not exceed six (6%) per cent per annum; and

2. repayment period shall be twenty-five (25) years.

Immediate implementation and compliance with this Letter of Instruction is desired. casia

DONE in the City of Manila, this 18th day of November, Nineteen Hundred and Seventy-Five.