First Country Bank

These are personal loans extended to public school teachers, under the FCB-DepEd Teachers Loan Program, which is a nationwide program that ensures practically 100% collection through automatic salary deduction. We service thousands of teachers nationwide. This is in partnership with the Department of Education.

For:
DepEd public elementary and high school teachers who need cash for livelihood or personal requirements.

Eligibility:

1. Teaching and non-teaching staff of public elementary and high schools under the DepEd automatic payroll system
2. Should be between 23 to 55 years old
3. Net take home pay of not less than P3,500 with terminating loans within 3 months from date of application

Benefits:

• Affordable interest
  
• Quick approval process
  
• Convenient collection via automatic salary deduction
  

Rate:
1.5% per month

Fees:
Service charge
Notarial fee
Documentary stamps tax
Credit life insurance
Savings deposit

Minimum Loan:
P6,500

Maximum Loan:
P50,000

Minimum Term:
6 months

Labels: Loans