City Savings Bank Salary Loan Table

City Savings Salary Loan Table for DepEd Teachers

City Savings Bank is one of the institutions that offers salary loan to DepEd teaching and non-teaching staff with low interest rate and flexible term.

What is good about City Savings Bank is you can call a loan ranger to facilitate your loan application. If you have internet connection, you can also avail of their online loan application. During this time of pandemic, you don't need to go to their branch to apply for a salary loan because the company is seeing to it that it's costumer's safety is addressed.

Below are the frequently asked questions taken from their official website.

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)

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

2. What is the new loan application process?

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

3. How long is the new loan application process?

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.

4. Do you accept redemptions?

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.

5. Are there any charges if I preterminate my loan?

Yes

6. Are there any hidden charges?

We assure you that there are none.

7. Do I need to open a savings account with you to get a loan?

No, there is no need.

8. Who should I look for?

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

Below is the CitySavings Bank Salary Loan Table