• It is offered to tailored specifically for Educators and Non-Teaching Staff. This initiative aims to provide financial assistance to meet various personal needs effectively and conveniently.

The loan is designed to cater to a wide range of personal expenses, including:

        1. Home improvements

        2. Medical costs

        3. Education fees

        4. Debt consolidation

        5. Emergency expenses

        6. Travel and vacations

        7. Moving costs

        8. Childcare expenses

9. Special projects

Term: 5 years or 60 months

Loan Types: Borrowers are eligible for loans based on a minimum net take-home pay of P5,000. For individuals with a net take-home pay of P5,000, the loanable amount is limited to 50% of their take-home pay.

Loan Amount:  The maximum loan exposure for an individual client is P200,000. Any loan amount exceeding this limit will require a thorough evaluation and approval by the Credit Committee.

Deductions:

        1. Service Charge of 1% for the whole term

        2. GRT

        3. DST

        4. Savings Deposit of P2,000

        5. CIC Fee - P150

        6. Notarial Fee - P1,000

        7. Life Insurance - P65.08 per P1,000 for (60 months)

        8. For a loan term of five (5) years, life insurance premiums must be collected for the first three (3) years, 

            while the premiums for the 4th and 5th years will be amortized over the five-year term.

Interest Rate:

        1. Diminishing Rate of 17. 27%

        2. Marketing Rate - 10% add-on

Mode of Payment:  1. Payments are due every 15th and 30th of the month, or as aligned with the verified payroll schedule.

2. Payments can be made through personal collection or via ATM.

Loan Renewal: Borrowers who have made at least six (6) monthly payments may renew their loan at any time before the due date.

For Risk Mitigating Measures:

        1. The borrower must surrender the ATM card linked to their salary and allowances to the bank.

        2. The surrendered ATM card must be accompanied by a Notarized Affidavit of Voluntary Surrender (AVS), 

            including a stipulation prohibiting online withdrawals and transfers.

        3. Borrower must secure life insurance coverage of the loan term.

        4. Co-maker must demonstrate sufficient financial capacity to assume responsibility for the loan of the Principal Borrower, especially in cases of default on repayment.

        5. Monitoring and support will be provided throughout the loan period.

Eligibility:

        1. Must be a Eligible Teacher or employed by the Department of Education (DepEd)

        2. Age requirement: 20-65 years old, and must not exceed the retirement age upon loan maturity.

Required Documents:

        1. One (1) valid ID: 

PRC ID or current teacher-issued ID for teaching personnel, or 

             Valid original gov’t issued ID for non-teaching staff

        3. Certified of Employment and/or DepEd Appointment Order

        4. Picture of ATM Card

        5. Three (3) months of payroll bank statements and/or three (3) latest pay slips

6. Proof of other sources of income (optional)

Co-maker Requirement:

        Must have at least one (1) co-maker who is a permanent teacher or non-teaching personnel of DepEd to guarantee credit accommodation.

Online Banking Status:

   Must not have active online banking applications, such as iAccess or other financial institutions' mobile applications.