Teachers Loan Is Now Available in Almost All Cities in the Philippines!

That’s right!  Teachers loan is now available for teachers with regular status and can now apply for teacher’s loan in the Philippines.  Loan applicant must be over one year as a regular teacher whether he or she is teaching in the private or government school.

Teachers can now apply online for teachers loan for emergency, business capital or for personal use.  Please read qualifications and requirements down below for your perusal.

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Teachers Loan Qualifications:

* Age must be 21-59 years old upon loan maturity
* Company should be at least 3 years in operation
* With at least 50 employees
* Must be at least 1 year regular employee
* Basic salary must be at least P15,000.00 including allowance, if single and at least P25,000.00 combined income if married.
* Must have own house or living FREE with parents or relatives own house.
* If renting, must have a co-borrower with own house or living with parents or relatives without rental.

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Teachers Loan Requirements:

* Must have a Co-Borrower (immediate family & relatives) with income not living in the same house.
* Friend as Co-Borrower is accepted provided owns house or living with parents or relatives free of rental charge.
* Marriage Contract (if married)
* Certificate of Employment with compensation (COE)
* Latest 3 months pay slips
* Three (3) personal references with cellphone number

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Teachers Loan Documentary Requirements:

* Completely filled-up and signed Application Form
* 2×2 picture (4 copies)
* Original & photocopy of 2 valid IDs (any ID with picture & signature, preferably government-issued like PRC ID, Driver’s license, TIN ID, Pag-ibig ID, HDMF ID, Voter’s ID, Passport, NBI & Police clearance, etc. ) Show IDs upon loan release.
* Proof of residence (Latest original electric or water bill only, even if not under borrower’s name) If not under borrowers name, must submit proof of residence/identification bearing same address as shown on electric or water bill like Telephone bills, IDs, NBI, Police or Barangay Clearance, etc.
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Co-Borrower Requirements:

* Age must be 21-59 years old upon loan maturity
* Immediate family and relatives with income (Not living in the same house)
* Immediate family (Parents, Brothers & Sisters) No income accepted if borrower is working in BPO/Call Center
* Friend is accepted provided with stable income and owns house or living with parents or relatives free of rental charge.
* Co-Borrower should not be in the same company.
* Certificate of Employment with compensation/3 months pay slips, if employed.
* DTI, Brgy./Mayors Permit and 3 months bank statement, if with business.
* Must have contact number

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Co-Borrower Documentary Requirements:

* 2×2 picture (two copies)
* Photocopy of 2 valid IDs (any ID with picture & signature, preferably government-issued like PRC ID, Driver’s license, BIR TIN, Voter’s ID, Passport, NBI & Police clearance, etc. ) Show IDs upon loan release.
* Proof of residence (Latest original electric or water bill only, even if not under borrower’s name) If not under borrowers name, must submit proof of residence/identification showing same address on electric or water bill like Telephone bills, IDs, NBI, Police or Barangay Clearance, etc…

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If you are interested to apply, please click apply now button below!

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 Posted on : February 20, 2016

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