Do You Want To Know How To Get Teacher Loan?
Like all other professionals, teachers also experience being on a tight budget, although they’re known to have a very stable job. They’re also suffering on a budget which they don’t have enough salary like they’re planning to invest. That’s why they need to get a loan also.
What is a Teacher Loan?
A teacher Loan is a salary advance offered by different banks or financial institutions, allowing them to cover their monthly expenses in the city if their salary is delayed. This financial aid prevents any negative impact on your savings by covering your monthly money requirements.
Who can avail of the Teacher Salary Advance?
- Public Teacher
- Private Teacher
What are the requirements?
First, you must need to complete the requirements before anything else, so you can start by applying for Teacher Loan.
- Application form
- Original payslips
- Certificates proving your service record
- Certificate from principal
- Appointment record
- At least two valid PRC id cards
- Community tax record
List of Bank
Here is a list of banks and government agencies offering Department of Education (DepEd) Salary loans.
- Katipunan Bank’s
- Sun Saving Bank’s
Tips on Applying Teacher Loan
- Make sure your purpose to get your loan is in purpose.
- Check your salary if enough to pay your loan to avoid penalty.
- Don’t settle for the first who offered you
- You will consider also the total cost