Salary Loans

Financial Assistance for School Teachers (FAST) Loan/ TEACHER'S LOAN

An individual salary loan product for School Teachers under a Memorandum of Agreement through Automatic Payroll Deduction Scheme (APDS).

It aims to make available, affordable credit for School Teachers to help them in their financial needs.

 

TARGET MARKET

School Teachers in Region VII, IX and X who are under Automatic Payroll Deduction Scheme (APDS) by the Department of Education.

INTEREST RATE

Avail for as LOW as 0.63% per month, diminishing!

CLIENT ELIGIBILITY CRITERIA

  • Open to men and women.
  • Be of legal age ranging 21 up to 57 with at least six (6) months before his/her birthday and must be in good health.
  • Must be a bona fide employee of Department of Education.
  • Must have a net pay of P 5,000 after deduction of monthly amortization

REQUIREMENTS

  • 2 Valid IDs (photocopy) and Cedula (with 3 specimen signatures)
  • One (1) month latest payslip (original)
  • Certificate of Employment
  • Appointment (photocopy)
  • 3 pcs 2x2 Recent ID picture

 

Loan Assistance for Professionals (LAP) Loan

A consumer loan product offered to government and selected private employees under Memorandum of Agreement through salary deduction with local government agencies or private corporations.  Loans can be provided to any qualified person who is in need of affordable financial assistance to defray personal necessities.

 

TARGET MARKET

  • Government
  • Quasi-Government
  • Private Office Employees

INTEREST RATE

Avail for as LOW as 1.4% to 1.8% per month, diminishing! (depending on MOA executed per institution)

CLIENT ELIGIBILITY CRITERIA

  • Age
    • Elected Officials
      • 18 - 65 years old and must be physically fit
      • Exit age: 68 years old
    • Regular Employees (including co-terminus)
      • 21 - 60 years old and must be physically fit
      • Maturity date must be before age 60 of client
  • Must be a regular employee
  • Duly appointed co-terminus employee
  • or duly elected public officials
  • Not a defendant of  a pending case (based on investigation)

REQUIREMENTS

  • Three (3) months prior pay slip (original)
  • Latest remuneration
  • Appointment (photocopy) (for non-elected officials)
  • Valid ID (photocopy) & Cedula (with 3 specimen signatures)
  • 2 co-makers
  • Oath of office (for elected officials and co-terminus employee)
  • Certificate of Canvass (for elected officials and co-terminus employee)
  • Certificate of Employment (for non-elected officials)
  • 3 pcs. 2 x 2 ID Picture (recent)