Landbank offers P500K to P1M Loan to DepEd Officials and Employees





The Department of Education (DepEd), gearing up to improve the financial welfare of its teaching and non-teaching personnel, has inked a deal with the Land Bank of the Philippines (LBP) for accessible loans.

Through LBP’s Livelihood Loan Facility, teachers and employees of DepEd can now avail themselves of loans with low-interest rates.

The loan has a fixed interest rate of 10.5 percent per annum.

DepEd employees can borrow the equivalent of up to eight months of their gross pay.

Loans for rank-and-file employees must not exceed P500,000 for qualified and P1,000,000 for qualified department officials.

Compared to rates offered by most private lenders who are accredited under DepEd’s salary deduction program, the rate offered by LBP is much lower.


Read: IMPORTANT NEWS for TEACHERS (read here)


Landbank offers P500K to P1M Loan to DepEd Officials and Employees Landbank offers P500K to P1M Loan to DepEd Officials and Employees Reviewed by DepEd Click Admin on September 12, 2019 Rating: 5

3 comments:

  1. 10.5% is much lower??? pag sure mo!!!

    ReplyDelete
  2. verifier ako ng deped, 9.66% lang ang maximum interest per annum,paanong naging much lower yan?

    ReplyDelete

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