Calamity Loan

For impacted Regular Members whose primary residence has been formally designated as being in a “State of Calamity” by the federal government or a local government unit (LGU).

FEATURES:

  • ₱200,000 is the maximum loanable amount.

Observation: Subject to the Single Borrower’s Limit (SBL) and Net-Take-Home-Pay (NTHP) requirements as established by the relevant Branch of Service.

  • 12 and 24-month terms for loans
  • A Member may request only one Calamity Loan at a time.

ELIGIBILITY:

  • Active members of the AFP, PNP, BFP, and BJMP who are both uniformed and non-uniformed
  • members of the AFP, PNP, BFP, and BJMP who have retired
  • NAPOLCOM and PVAO pensioners

Additional requirements that the member-borrower must meet include the following:

  • Must dwell permanently in a region that has been formally designated to be in a “State of Calamity,” according to AFPSLAI data.
  • Must have a strong credit history (no delinquent or past-due loans on record)
  • They must be able to pay their debts, taking into account the net-take-home-pay requirements of the paying country.

Note: Depending on whether an automated payroll/pension deduction facility is available.

REQUIREMENTS:

  • Application for a Calamity Loan, Authorization to Deduct, and Promissory Note, all completed
  • AFP/PNP/Bureau/ID Pensioner’s photocopy
  • recent paystubs (depends on the service branch; similar to consumption loans)
  • Pension Documentation (including request)
  • Order for Permanent Appointment (if 1st Loan)

NOTE: Additional documents may be required

LOAN CALCULATOR

%
Monthly payment
Total overpayment
Total
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INSTRUCTIONS:

To calculate your monthly amortization.

  • Enter the loan amount you desire.
  • Choose the length of time you want your Loan to be amortized.
  • To find out your monthly amortization, click “COMPUTE,” and to clear entries, click “RESET.”

To find out how much credit you qualify for:

  • Enter the monthly amortization you desire.
  • Choose the length of time you want your Loan to be amortized.
  • To calculate your loan amount or to clear entries, click “COMPUTE” or “RESET.”

Please be aware that the above calculation is only indicative. For precise information, contact us or come to the AFPSLAI branch closest to you.

Procedures

The Branch Office for applications

  • The borrower provides LAF and specifications.
  • The loan specialist moves on with processing the Loan (new or renewal) if the provided papers meet all the requirements.
  • After the Loan has been approved, the borrower goes to the releasing or telling section to arrange for the release of the loan funds into cash, a savings deposit account (SD-02), or a remittance facility.
  • The loan funds are given to the borrower.
  • The loan Release is signed by the borrower.

Online Application

  • Visit the AFPSLAI website as the borrower and choose the e-Application tab before selecting the e-Loan Application.
  • The borrower submits the online Application and receives a reference number.
  • The resulting form is printed and saved by the borrower.
  • The borrower goes to the branch office of their choice to turn in the completed loan application and necessary documents.
  • A lending specialist processes the Loan.
  • After the Loan has been approved, the borrower goes to the releasing or telling section to arrange for the release of the loan funds into cash, a savings deposit account (SD-02), or a remittance facility.
  • The loan funds are given to the borrower.
  • The loan Release is signed by the borrower.

FAQs:

If I lose my passbook, can I still withdraw money?
No, we do not permit withdrawals in cases of missing passbooks. An affidavit of Loss notarized and given to the Member Services Staff must be used to declare the Loss. The depositor’s membership is suspended while they wait for a new passbook to be supplied.

Can I still get cash out if I lose my passbook?
No, we do not allow withdrawals when passbooks are missing. The Member Services Staff must receive an affidavit of Loss notarized and utilized to certify the Loss. While they wait for a replacement passbook to be sent, the depositor’s membership is suspended.

In CCA or SDA, where can I retrieve my overpayments?
You can remove compelled savings and overpayments from your CCA. Rebates, CRI refunds, loan profits, excess dividends, and PNL deductions, on the other hand, can all be withdrawn through your SDA.

I went a particular amount of time without making any withdrawal transactions. But why, at that time, were withdrawal transactions visible in my passbook?
Even if the member did not make the withdrawal transactions, they are shown on the passbook for several reasons. The best place to get more information is at the AFPSLAI Branch or Extension Office closest to you, where our helpful staff will go through everything included in the passbook.

What is the Single Borrower’s Limit (SBL)?
It is the most significant debt a borrower is permitted to receive. It is calculated by dividing the average monthly pay and benefits by 12, the annual regular bonuses and incentives, and current AFPSLAI contributions.

What is the Credit Redemption Insurance (CRI)?
CRI is the insurance that, in the event of a qualifying borrower’s demise, will reimburse the balance of the outstanding loan.

Do I need to seek a co-maker?
Only Personal Loans require a co-maker.

Given that most loans do not require a co-maker, how may AFPSLAI recover from unpaid accounts?
AFPSLAI implements several collection techniques and corrective procedures to resolve collection from accounts with defaults.

Can you provide RIAS (IAS from Region) to apply for a salary loan?
However, you may also present PIAS (IAS from the Province) or a Certificate of No Pending Case from your unit or CO if you don’t have the previous papers.

Can I get a loan even though I still owe money on my salary loan?
Yes. Depending on your ability to pay, you can apply for emergency, multipurpose, and other collateralized loan products.

When is my salary loan due for renewal?
Once your loan payment has reached at least 20% of the total borrowed, you may renew your salary loan.

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