Rang-ay believes that one of the pillars of the country are the salaried employees. Because of this, the Bank has devised a program to make credit readily and easily available and affordable for the working Filipino.

SALARY LOAN FOR PRIVATE INSTITUTIONS

Eligible Borrowers

• Employees of private institutions including:

  1. Private companies or businesses;

  2. Private school academies; Universities or Colleges;

  3. Private Hospital or Clinics

Amount of Loan

• Maximum of Php 80,000.00 for the first availment

• Maximum of Php 100,000.00 for the second availment

Term of Loan

• Minimum of one (1) year

• Maximum of two (2) years

Requirements

A. For the Private Institutions

• Memorandum of Agreement (MOA) signed by the president or head of office

• Articles of Incorporation and By-Laws

• Latest General Information Sheet (for corporation)

• Private Institutions must have atleast twenty (20) permanent employees

• Private Institutions must be registered in the DTI or SEC for atleast ten years

B. For the Borrower

• Certification or permanent status & details of monthly salary deductions

• Photocopy of last two (2) payroll slips before loan applications

• Authority to deduct the regular amortization that is duly signed by an officer of the employer

SALARY LOAN FOR PUBLIC SERVANTS & EMPLOYEES

Eligible Borrowers

• Employees of public institutions including:

  1. Municipal of City or Local Government Units

  2. State Universities

  3. Government Hospitals

  4. Provincial Offices of National Government Agencies

  5. Municipal or City Water District Offices

Amount of Loan

• Maximum of Php 500,000.00 for the rank & file employees

• Maximum of Php 1,000,000.00 for the Elected Officials & Department Heads

Requirements

A. For government Agencies, Local Government Units & other Public Institutions:

• Memorandum of Agreement (MOA) signed by the bank and the head of office

B. For the Borrower

• Certification or permanent status & details of monthly salary deductions

• Photocopy of last two (2) payroll slips before loan applications

• Authority to deduct the regular amortization that is duly signed by an officer of the employer