SALARY LOAN APPLICATION Date:

FORM (Page 1 of 2. To be filled-in by applicant.) Type of Loan: New Renewal

Loan Classification: RPSU Paid FAS Paid

Name of Applicant:
_____________________________, _______________________________, _________________________ __________ Last Name First
Name Middle Name Ext.

Mailing/ Permanent Address:

Birthdate: __________________ Age of Applicant: ___________ Start Date with DepEd:_______________________(mm/dd/yyyy)

Applicant’s DepEd Email Address: Contact No.:

Beneficiary/ies (for insurance, if applicable):

Full name of Beneficiary Relationship Date of Birth

Name of School/Institution where presently assigned and its address: Name of Co-Borrower (if applicable) Relationship to the Source of Income of
Borrower: Co Borrower:

Employee ID Number: Station Code:

Length of Service: Station Name:

Region Code: Designation:

Region Name: Monthly Gross Salary:

Division Code: Latest Net Take Home Pay:

Division Name: Term of Loan (in months)

Amount Applied: Loan Purpose (please specify):

RESIDENCE SKETCH MAP

Sketch map to loan applicant’s current residence address. Use back portion of this page if necessary.)

APPLICATION FOR SALARY LOAN

I hereby apply for DepEd Teachers’ Salary Loan in the amount not exceeding _____________________________________ PESOS (P ______________). I
hereby swear that (1) I am a permanent DepEd Teacher with ___ years/months in service; (2) I am up-to-date in the payment of my existing loans; (3) I am not
a respondent/party to any pending criminal case; (4) that the statements declared above are true and correct to the best of my knowledge and that this
application is made for the purpose and consideration expressed above. (5) By providing my personal data or signing herein, I hereby acknowledge that I have
read and understood EWRB’s Data Privacy Policy and agree thereto as well as knowingly and voluntarily give my consent to the Bank, its affiliates, partners
and service providers to collect, use, disclose, dispose, and process my personal data set out in this form or any other related documents or forms in order to
complete my transaction with the Bank and for any other legitimate purpose. (6) I hereby give full consent to the Bank to use and/or disclose any information
contained herein for credit investigation and collection, for information technology systems, data processing and storage, statistical, risk, production utilization
and any other purposes deemed essential to the Bank and I hereby give my consent in advance in case the Bank desires to use any information provided in this
application for marketing and promotions. I agree that should there be any misrepresentation discovered, the East West Rural Bank Inc. may cause the outright
disapproval of my loan or if the loan has already been granted, the East West Rural Bank Inc., may immediately declare my loan due and demandable.

Furthermore, (7) I hereby acknowledge and authorize: a) the regular submission and disclosure of my basic credit data (as defined under Republic Act No. 9150
and its implementing rules and regulations) to the Credit Information Corporation (CIC) as well as any updates or corrections thereof; and b) the sharing of my
basic credit data with other lenders authorized by the CIC, and credit reporting agencies duly accredited by the CIC.
 CERTIFICATE OF NO OBLIGATION/AUTHORIZATION
This is to declare under oath that the reflected Net Take Home Pay as reflected in my payslip for the payroll period ________________________ represents an
amount that has no obligation(s) and/or is NOT amortized/ allocated for any obligation. That once this application is approved, I will not borrow again from any
other lending institution nor from any person or entity that will compromise, prejudice or otherwise impair this "AMOUNT", unless any or all of the credits
abovementioned have been retired, paid or otherwise extinguished already, provided the "AMOUNT" will remain unimpaired.
This is to further declare that I have no pending application for an indefinite leave of absence or transfer to another station, no plan to go abroad and to retire
within the payment period of my loan which will start in the payroll month of _____________ and end on _____________________ payroll period and further
commit not to cause any of these acts while my loan with EASTWEST RURAL BANK, INC. is outstanding. This is to further declare that any falsification in
this certification can be used against me for the crime of perjury.
Borrower’s Signature over Printed Name Date
Page 2 of 2 – Salary Loan Application Form v.07212023 GENERAL
1. Eligibility Criteria
The loan shall be granted to Borrower who passed the eligibility criteria as
herein set by the Bank;
1.1. Net Take Home Pay (NTHP) after amortization deduction of the loan
applied for must not fall below the minimum NTHP mandated per the
latest General Appropriations Act and covered by relevant
For inquiries, please call: Customer Service Hotline (+632) 8888 1755
memorandum of the Bank;
1.2. Must have rendered at least six (6) months in service with DepEd; 1.3.
Must be aging 18 to 64 years old;
1.4. Must be holding a permanent appointment as evidenced by the
Certificate of Appointment issued by the Civil Service Commission; 1.5. Must
be under DepEd National Plantilla with issued employee number, whether
assigned at the national, regional, schools division, or school level
(implementing unit (IU) or non IU);
1.6. Borrower’s payroll must be integrated in the Regional Payroll Service
Unit or Fiscally Autonomous School;
1.7. Must be able to pass DepEd Verifier’s confirmation of required
minimum NTHP to avail a loan;
1.8. Must belong to an institution granted by the Bank with Authorized
Exposure Limit (AEL);
1.9. Must be able to submit complete documentary requirements and all other
documents that may be required by the loan approving authority;
1.10. Must be able to provide at least one (1) eligible co- borrower of the
loan, if applicable.
2. Loan Amount and Term
2.1 The Borrower may be granted a minimum of Ten Thousand Pesos
(10,000) up to a maximum of One Million Pesos (1,000,000);
2.2 Loanable amount is confirmed to be eligible for deduction under the
APDS by the DepEd Verifier.
2.3 Loanable amount is based on NTHP reflected in the Borrower’s latest
payslip and is computed using Loanable Amount Computation Sheet
and Amortization Table (LACSAT);
2.4 The Borrower may be granted a term of one (1) month up to five (5) years
but shall not exceed 65th birthday of the Borrower upon loan maturity.
3. Fees and Charges
3.1. Interest rate of 7.5% per annum for one (1) month up to five (5) years
loan term, based on a diminishing balance (from the time the loan is
granted until its full payment);
3.2. Service Fee of 6% deducted upfront, inclusive of Loan Redemption
Insurance (LRI) for the 1st term of the loan, 1% APDS Collection Fee
based on the total principal loan amount and the calculated interest for
the whole term and Documentary Stamp Tax (DST), if applicable;
3.3. LRI for 2nd, 3rd, 4th, and 5th term, if applicable, shall be for the account of
the Borrower and must be collected through over-the counter payment
or auto debit from Borrower’s EWRB Savings Account upon consent;
3.4. DST shall be applied for total aggregated loan amount per day of more
than Two Hundred Fifty Pesos (250,000) and is computed at P1.50
per 200, or fraction thereof, of the loan;
3.5. Penalty of 1% per month based on the total outstanding balance
(Principal + Interest), as of computation date, shall be charged to
unpaid accounts due to undeclared obligations;
3.6. The interest, fees and penalty rates may change over time. 4.
Loan Repayment and Renewal
4.1. Borrower shall pay equal monthly amortization computed based on
diminishing principal balance and interest charges;
4.2. Bank shall provide Borrower’s copy of his/her amortization schedule
upon approval of loan as part of the post-borrowing orientation;
4.3. Borrower may opt to pre-terminate or pre-pay his/her loan provided any
outstanding balance and other charges incurred shall be fully paid;
4.4. Loan renewal is allowed provided an equivalent of four (4) monthly
amortizations has been paid. Loan renewal of higher amount maybe
_________________________________
v.07212023
TERMS AND CONDITIONS
Borrower’s Signature over Printed Name
allowed even if borrower has paid less than four (4) amortizations
provided that the loan application is confirmed by the DepEd Verifier;
4.5. Any outstanding balance of the previous loan shall be deducted upon loan
renewal;
4.6. Only one (1) Promissory Note is allowed per Borrower under this
facility.
5. Borrower and Co-Borrower’s Responsibilities
5.1. In the event the Borrower’s monthly salary, the primary source for
payment of loan amortization, is cut-off due to whatever reason it
may be, the Borrower’s outstanding loan shall become due and
demandable without need of demand or further notice;
5.2. The Borrower and Co-Borrower shall be jointly and severally liable to
the Bank for the full payment and complete performance of all
obligations of the Borrower provided in the loan agreement;
5.3. The liability of the Borrower and Co-Borrower shall extend to all
extension of time payment of the loan plus all interest thereon; 5.4. In the
event (a) the Borrower and/or Co-Borrower fails to pay the Bank any amount
when due which the Borrower is obligated to pay under the loan agreement
and other documents contemplated relative to the loan; or (b) any
representation or warranty of the Borrower under any certifications,
applications for loan or other documents given to the Bank in connection
with the Loan is shown to have been incorrect and misleading in any
material respect, or (c) the Borrower fails to perform or violates any of the
covenants and other provisions of the loan agreement, then the Bank may
declare the loan together with the accrued interest thereon any other sums
payable hereunder to be immediately due and payable without the need for
demand, protest or notice of any kind;
5.5. Whenever the Borrower and/or Co-Borrower have several obligations to
the Bank, including, but not limited to the obligation hereunder, the
Bank has the right to apply to the payment of any Borrower’s
obligations which the Bank may at its option, select whether or not
any one of the obligations is more or less than the others, and all
sums the Bank may receive from the Borrower or from other parties
for and in behalf of the Borrower, as well as, all monies on deposit
or account with the Bank belonging to or to the credit of
theBorrower.
6. Rights of the Borrower
6.1 The Borrower should be given copy of the following loan documents
with his/her signature upon loan disbursement:
a. Promissory Note
b. Disclosure Statement
c. Amortization Schedule
6.2 The Borrower may file a complaint in case of inappropriate behaviour,
misleading actions and/or unfavourable events at his/her expense
caused by the Bank. A complaint may be made in person, by phone,
by email or in writing. The Bank shall then provide immediate
resolution/s in accordance to the Bank’s policies and procedures in
handling customer complaint.
6.3 The Borrower shall authorize the Bank to encumber, assign or sell to any
person or entity, any right which the Borrower may have under this
note and/or assignment, mortgage lien, pledge or other
encumbrances constituted in favour of the Bank pursuant to the
provisions of the loan agreement and this note, if any.
7. Other provisions
7.1 In case of judicial enforcement of the obligation or any part of it by Bank,
Borrower and/or Co- Borrower shall waive all their rights under the
provisions of Rule 39 Section 12 of the Rules of Court, and the
Borrower and/or Co-borrower shall pay jointly and severally ten
percent (10%) of the amount due on the note as attorney’s fees,
which in no case shall be less than FIVE HUNDRED PESOS
(P500.00) exclusive of all costs and fees allowed by law.
7.2 Should any issue/case arise as a result of this obligation, venue shall be at
 the Proper Courts in the city or municipality of the Borrower’s ____________________________________
residence. Co-Borrower’s Signature over Printed Name

East West Rural Bank, Inc. is regulated by Bangko Sentral ng Pilipinas with contact number (02) 8708-7087, with the email address consumeraffairs@bsp.gov.ph and
webchat at www.bsp.gov.ph.

A subsidiary of EastWest Banking Corporation.