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TEACHERS' SALARY LOAN

Get the most out of your Teachers' Salary Loan.

Max. Loanable Amount Aggregate of 1,500,000.00 pesos
Bank Charge 6% of Loan Amount
Term 12 - 60 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:

  • Integrated in the Automatic Payroll Deduction System (APDS)
  • In service under DepEd for at least six (6) months
  • 65 years old upon loan maturity
  • P5,000 Net Take Home Pay after CitySavings deduction
  • An active email address
Loan Application Form.



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1. What are the requirements?

For New Loan:
  • Minimum of one (1) month latest payslip (photocopy and original)
  • Duly accomplished Salary Loan Application Form
  • Photocopy of valid government-issued ID such as PRC, etc (back to back)
  • Photocopy of Permanent Appointment (back to back)
NOTE: For verification purposes, please present original copies of documents and IDs
For Reloan:
  • Minimum of one (1) month latest payslip (photocopy and original)
  • Duly accomplished Salary Loan Application Form
  • Photocopy of valid government-issued ID such as PRC, etc (back to back)
NOTE: For verification purposes, please present original copies of documents and IDs

The steps under the new 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 issued email address, send your evaluated loan application details and stamped payslip to your verifier via email.
Step 3: 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 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 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 60 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.

No.

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.