ASIATRUST DEVELOPMENT BANK
Program Title: SALARY LOAN
Program Objective: To enhance employees’ benefits program without extra cost to the company. These are short-term multi-purpose loan package granted to regular employees of accredited companies subject to salary deduction scheme.
SL Facility Type:
With Company Guarantee without Co-Maker; or
Without Company Guarantee with Co-Maker.
Eligible Borrowers:
Regularly employed with the Company for at least 2 years;
At least P8,000.00 monthly salary (including fixed allowances) for the rank and file;
At least P15,000.00 monthly salary (including fixed allowances) for the officers.
Loan Purpose: Emergency or ready cash
Terms/Requirements:
Loan Amount:
Minimum of P10,000 and maximum of P30,000 for rank and file employees;
Minimum of P10,000 and maximum of P250,000 for officers.
Note: Monthly amortization should not exceed 30% of net monthly income and should commence 30 days after loan release.
Loan Release: Loan proceeds to be credited to the employee-borrower’s zero balance ATM account or through Manager’s Check.
Interest Rate: 0.90% add on rate
Term/ Mode of Payment: Payable for 6, 12, 18, 24 months; via salary deduction to be remitted to the bank via Company Check or to be debited from the company’s mother account in Asiatrust Bank on
a monthly basis.
Fees/ Charges:
Three Hundred Pesos (P300.00) processing fee per application to be deducted from loan proceeds
Insurance premium to be deducted from loan proceeds. It is computed as:
[LOAN AMOUNT / P1,000] x P3.00 / 12 x CREDIT TERM
Documentary Stamps for loan amount of P250 Thousand and above. It is computed as: [LOAN AMOUNT / P200 x P1.00]
Documentary Requirements:
For the Company
Pre-Accreditation Requirements:
o Company Profile
o Latest ITR for 3 years
o Latest Audited Financial Statements for 3 years
o General Info Sheet (latest)
o SSS Number
Post-Accreditation:
o List of Employees / Alpha Listing
o Memorandum of Agreement (MOA)
o SEC papers & Business Registration
o Articles of Incorporation / Partnership and By-Laws
For the Borrower and Co-Borrower
Post-Accreditation:
o Salary Loans Application Form
o Signed Promissory Note and Disclosure Statement
o Certificate of Employment (incorporated in the Application Form)
o Company ID and any Government ID
o Proof of Billing
o Latest 1 month pay slip
o Most recent ITR (Form 2316)
Contact Details:
Salary Loans Group
Phone (632) 924.5608 • 924.5711 • 924.5770
Customer Hotline at 924-5777
e-mail: smg-slu-avail@asiatrustbank.com, customerhotline@asiatrustbank.com.
Website: http://www.asiatrustbank.com
Source: BMSMED
Disclaimer: Pinoybisnes.com is not connected in any way with the listed financing programs being offered here. For more information and advice, please call directly the institution involved.
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