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TEACHERS' SALARY LOAN

Get the most out of your Teachers' Salary Loan. For DepEd teaching and non-teaching staff.

Max. Loanable Amount Aggregate of 1,500,000.00 pesos
Bank Charge 6% of Loan Amount
Term 12, 18, 24, 36 months flexible depending on your needs
Interest Rate (per annum) Interest rate is variable depending on the tenor of your loan.

AVAIL OF OUR TEACHERS' SALARY LOAN

Borrowers must be/ must have:

  • DepEd RPSU, DepEd Autonomous, CHED and TESDA paid employees
  • Integrated in the Automatic Payroll Deduction System (APDS)
  • In service under DepEd for at least one (1) year
  • 65 years old upon loan maturity
  • P5,000 Net Take Home Pay after CitySavings deduction
  • An active DepEd-issued email address
Loan Application Form.



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1. What are the requirements?

For New Loan:
  • Two (2) months latest payslips (current and previous month, original and photocopy)
  • Duly accomplished Loan Application Form
  • Three (3) Photocopies of DepEd and PRC IDs
  • Two (2) Photocopies of Cedula
  • Certified true copy of the Permanent Appointment (back to back)
  • One Co-maker (must provide one (1) photocopy of DepEd and PRC ID. Co-maker's signature is needed on the application form)
NOTE: For verification purposes, please present original copies of documents and IDs
For Reloan:
  • Two (2) months latest payslips (current and previous month, original and photocopy)
  • Duly accomplished Salary Loan Application Form
  • Two (2) photocopies of DepEd and PRC IDs (back to back)
NOTE: For verification purposes, please present original copies of documents and IDs

The steps under the new DepEd Terms and Conditions of the APDS Accreditation (TCAA):

Step 1: Visit us with your loan documents and payslips to evaluate loan eligibility.
Step 2: Using your DepEd issued email address, send your evaluated loan application details and stamped payslip to your DepEd Verifier via email.
Step 3: DepEd Verifier to approve and send confirmation via email to CitySavings cc: the teacher.
Step 4: Visit CitySavings branch for loan documents signing and immediate receipt of loan proceeds.

Steps 1 & 2 in the “4 Step Guide” can be completed within an hour of your visit to any of our branches. Step 3 is dependent on the DepEd Verifier’s load and there is no committed turnaround time. The last step can be completed within an hour after we have received the confirmation from the DepEd Verifier and you have signed all the loan documents in the branch.

Yes, we do. For a more convenient arrangement on monthly payments, you can consolidate all your loans with us with the 36 months term and a maximum aggregate loan amount of P1,500,000.00. Ask our Service Associate at the loans counter on how we can make it work for you.

Yes.

We assure you that there are none.

No, there is no need.

Our Service Associate at the loans counter are always ready to assist you.