CitySavings Teachers’ Salary Loan – How Much You May Borrow?
CITYSAVINGS TEACHERS’ SALARY LOAN – Here are the loanable amounts under this loan offer of CitySavings Bank for teachers.
When it comes to loans, there are several banks and lending companies that you can turn to. One of these is the CitySavings Bank which has loan offers that are open for the public and those that are open for specific individuals.
One of the exclusive loans offered by the bank is the CitySavings Teachers’ Salary Loan. There are a few qualifications and a huge loanable amount under this offer. You may check on the details below.
To be eligible to apply for the CitySavings Teachers’ Salary Loan, the applicant-borrower must be or must have:
- in service under the Department of Education (DepEd) for at least six (6) months
- integrated in the Automatic Payroll Deduction System (APDS)
- 65 years old or below upon the loan maturity
- a net take home pay of at least P5,000.00 after the loan deduction
- an active email address
How much you may borrow under the CitySavings Teachers’ Salary Loan offer? The bank did not specify the minimum loanable amount but it stated the maximum amount that you can borrow under the loan.
Maximum Loanable Amount: P1,500,000.00
According to CitySavings Bank, you can repay the loan from 12 months up to 60 months or five (5) years. The interest rate under this loan offer depends on the chosen loan term. The bank charges 6% of the amount you borrowed for the processing.
Do you want to apply for CitySavings Teachers’ Salary Loan offer? For a guide on the application process and the requirements in applying, feel free to visit – CitySavings Teachers Loan Requirements: List of Documents You Must Submit.
You may also visit – CitySavings Bank Pensionado Loan: Here’s How Much GSIS & SSS Pensioners may borrow
