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    PNB Savings Smart Salary Loans

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    tin
    This document summarizes the key details of PNB Savings Bank's Salary Loan product called "PNB Savings Smart Salary Loans". The loan is designed for regular employees of accredited companies to access ready credit. Qualified borrowers must have at least 1 year of employment, a monthly salary of at least P10,000 and no pending administrative cases. Loan amounts range from P10,000 to P1,000,000 with terms of 12 to 36 months and an interest rate of 15%. The loan can be applied for and managed through the LENDR mobile application to streamline the process for employees and employers.

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    PNB Savings Smart Salary Loans

    Uploaded by

    tin
    463 views11 pages
    This document summarizes the key details of PNB Savings Bank's Salary Loan product called "PNB Savings Smart Salary Loans". The loan is designed for regular employees of accredited companies to access ready credit. Qualified borrowers must have at least 1 year of employment, a monthly salary of at least P10,000 and no pending administrative cases. Loan amounts range from P10,000 to P1,000,000 with terms of 12 to 36 months and an interest rate of 15%. The loan can be applied for and managed through the LENDR mobile application to streamline the process for employees and employers.

    Original Title

    PNB Seminar

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    This document summarizes the key details of PNB Savings Bank's Salary Loan product called "PNB Savings Smart Salary Loans". The loan is designed for regular employees of accredited companies to access ready credit. Qualified borrowers must have at least 1 year of employment, a monthly salary of at least P10,000 and no pending administrative cases. Loan amounts range from P10,000 to P1,000,000 with terms of 12 to 36 months and an interest rate of 15%. The loan can be applied for and managed through the LENDR mobile application to streamline the process for employees and employers.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    463 views11 pages

    PNB Savings Smart Salary Loans

    Uploaded by

    tin
    This document summarizes the key details of PNB Savings Bank's Salary Loan product called "PNB Savings Smart Salary Loans". The loan is designed for regular employees of accredited companies to access ready credit. Qualified borrowers must have at least 1 year of employment, a monthly salary of at least P10,000 and no pending administrative cases. Loan amounts range from P10,000 to P1,000,000 with terms of 12 to 36 months and an interest rate of 15%. The loan can be applied for and managed through the LENDR mobile application to streamline the process for employees and employers.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 11

    PNB Savings Smart Salary

    Loans
    PRODUCT DEFINITION:

    The SALARY LOAN is a multi-purpose loan designed to provide


    “READY CREDIT” to qualified regular employees of the accredited
    companies of the BANK.

    Repayment is via salary deduction scheme, remitted by the


    Company to the Bank.
    QUALIFICATION:

    - Regular employee with 1 year tenure


    - With at least P10K Gross Monthly Salary
    - No pending administrative case filed against the employee
    - Not due for retirement

    - LOAN AMOUNT:
    Minimum of P10K and Maximum of 1M

    - TERMS:
    12 / 18 / 24 / 36 months

    - INTEREST RATE:
    Special Rate of 15% Effective Rate for LTG, equivalent to
    .70% Add-on Rate per month
    ELIGIBILITY:

    •Age – at least 21 and not more than 65 upon loan maturity


    •Regular employee with a length of service of at least 1 year
    •Has gross monthly pay of at least P10,000.00
    •Not due for retirement within the term of loan
    •No pending administrative case with present employer
    FEES AND CHARGES:
    COMPANY ACCREDITATION REQUIREMENTS:
    PRE ACCREDITATION
     
    oSEC or DTI Registration
    oArticles of Incorporation and by-laws
    oGeneral Information Sheet
    oBusiness Permit
    oAudited Financial Statements for the last 3 years
    oIncome Tax Returns for the last 3 years
     
    POST ACCREDITATION 
    oLetter of Intent for accreditation under the Salary Loan
    oExecution of the Memorandum of Agreement (MOA)
    oSignature card containing the specimen signature of the company’s
    authorized signatories
    oCorporate Secretary’s Certificate
    oGovernment issued IDs of authorized signatories
    oCustomer Information Sheet – Individual and Corporate
    oID’S of Signatories
    INDIVIDUAL LOAN REQUIREMENTS:

    •Completely filled out application form

    • 1 month latest payslip and COE with deductions and fixed allowances

    • Photocopy of company ID with 3 original specimen signatures

    • Photocopy of any Government issued ID with 3 specimen signatures


    *(For newly wed applicants, please include marriage contract)

    • Latest ITR (BIR 2316) with TIN number and with signature of applicant and
    authorized signatory

    •(allow 5 to 7 banking days for processing upon receipt of application


    form excluding Saturdays, Sundays and Holidays )
    LOANABLE AMOUNT

    Maximum loanable amount will be depending on


    borrowers credit ratio indicated below:

    CREDIT RATIO GROSS MONTHLY SALARY


    20 % ₱10,000 up to ₱29,999
    25 % ₱30,000 up to ₱49,999
    30 % ₱50,000 above

    CREDIT CARD / BANK CHECK:

    None regardless of the amount


    LENDR was made possible thru partnership of PNB Savings Bank with Voyager Innovations,
    Inc. wherein pre-approved employees of accredited companies can use the LENDR
    application to apply for a Salary Loan just by using their mobile devices.

    Benefits of LENDR:
    - Employees can apply for a loan anytime and anywhere
    - Employees can keep track of their loan application, progress, repayments and
    amortization.
    - Eliminate the hassle of application by hand and lost documents.

    For the employer:


    - No need to go through the hassle of follow up by employees.
    - Eliminate paper clutter and lost application forms and attachments.

    How does it work?


    - Company simply sends us of a list of eligible employees. (attached format)
    - Employees gets an SMS notifying them of their eligibility via SMS
    - SMS sent to employee will lead them to a URL unique to them.
    Thank You! Looking forward to be of
    service to you and your employees!

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