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City Savings Bank Advisory on Teachers’ Salary Loan Payment Extension


City Savings Bank answers frequently asked questions of teachers about loan payment as they implement moratorium of loan payment in line with the Bayanihan Heal As One Act.

Here are 6 questions clearly answered by City Savings for your guidance.


1. Will I receive a refund since my loan payment in April has already been deducted from my payslip?
Answer:  Yes, the loan payment deducted from your April payslip will be refunded to you by DepEd.

2. Who will I need to coordinate with if I haven’t received my refund?
Answer:  You can directly coordinate with your Division office/School to ask about your loan payment refund.

3. What happens to my loan maturity date now?
Answer:  The termination date of your loan shall be automatically extended in DepED’s payroll program for another month.Example:
Original Termination Date:  April 2023
New Termination Date:  May 2023

4. Will I incur penalties and other charges since there’s no payment made in April?
Answer: We will waive all penalties and other charges for your undeducted loan payment in April.

5. What if I still want to pay my loan amortization in April?
Answer: You can pay over the counter at any of our accredited collection channels:
* City Savings Bank branches     * M.Lhuillier Kwarta Padala branches
* PeraHub branches                   * UnionBank of the Philippines branches

6. Where can I learn more about the loan payment extension?
Answer: You can follow our official Facebook page at facebook.com/citysavingsbankofficial or visit our official website at citysavings.com.ph for real-time updates. You may also reach us at 0917-8SIMPLE (0917-8746753)

(Also read: DepEd releases Clarification on GSIS Concerns about Loan Payment Moratorium)

Read also their bank advisory below:


2 thoughts on “City Savings Bank Advisory on Teachers’ Salary Loan Payment Extension”

  1. Pingback: Top 5 banks that offers loan to teachers in DepEd | Helpline PH

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