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 JEC 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