Different requirements needed for teachers to avail a loan in both public and private lending institutions

Requirements needed for teachers to avail a loan

Today’s topic will be a little bit different from the ones I have shared with you since this will talk about the different requirements that will be handed over to the different loaning institutions may it be in public or in the private. I know that having a loan for yourself is a little bit awkward since it seems to me that I am giving you hints on availing some, but on the contrary, it is with the truest intention that I will share this to you so that you will also be guided if ever the need arises. Please note that I will only share with you the basic requirements and understand that some institutions will ask you additional requirements prior to your application and it usually depends on the institution itself. The requirements are for their safekeeping and for the legalities of your application, they need to really ask for these papers in order to prove that you are a warm body in a certain institution as well with a good salary standing.

Here are the most asked requirements needed for the perusal of your loan applications:

PUBLIC INSTITUTIONS (GSIS, PAG-IBIG, Teacher’s Cooperative, etc.)

For new applicants:

1. Appointment
2. Assumption to Duty
3. Service Record
4. Certification from the School you are currently teaching
5. Pay slip
6. Co-maker
7. Vicinity Sketch plan
8. DepEd e-mail and password

For old applicants who will avail a reloan:

1. Latest Pay slip
2. Co-maker
3. Vicinity Sketch plan
4. DepEd e-mail and password

PRIVATE LOANING INSTITUTIONS (Banks, Lending, etc.)

For new applicants:

1. Appointment
2. Assumption to Duty
3. Service Record
4. Certification from the School you are currently teaching
5. Pay slip
6. Co-maker
7. Vicinity Sketch plan
8. DepEd e-mail and password
9. Others asked by the bank/lending itself

For old applicants who will avail a reloan:

1. Latest Pay slip
2. Co-maker
3. Vicinity Sketch plan
4. DepEd e-mail and password
5. Others asked by the bank/lending itself

These are mostly the needed requirements that will be submitted prior to your application in both public and private loaning institutions. Please take note that it still depends on the institution as to the remaining requirements if they need it. Upon deciding to get a loan, make sure to bring with you all the original copy of the listed above because for sure you will be asked to show them the original. – Clea | Helpline PH