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Inquiries on Interest Rebate PDF Print E-mail

 

Partial interest rebate (50% to 100%) is reimbursed by Coconut Cultivation Board (CCB) to the borrowers who utilized the loans satisfactorily to the development purposes.

An interest rebate permit is issued by CCB to the borrower after loan release. The borrower should inform the loan receipt to the CCB regional office without delay to obtain the interest rebate permit. Obtaining a interest rebate permit is a borrowers right and therefore inquire for it.

 

Interest rebates are paid annually. The borrower should apply interest rebate annually after receipt of loan (depending on the date of loan release – not calendar years).

 

The Interest Rebate Application Form (“Kapruka 14”) can be obtained from CDO Office or CCB Regional Office. The borrowers should submit application filled with information (personal data and loan repayment data) and bank branch certification of loan repayment.

 

An officer from relevant regional office will inspect the land after submission of the interest rebate application. The borrower (or an agent) responsible for giving information about loan utilization for development activities. Inform the officer any matters on loan utilization on developments and give reasons for delays or failures. Give possible periods to be spent for completion of due activities.

 

Loan file with land inspection data is forwarded by regional office to head office of Coconut Cultivation Board to process interest rebate payments and the interest rebate cheques are issued to the loan account number of relevant bank branch.

 

Any changes in bank account or the loan holder should be informed to CCB regional office prior to payments.