Salary loan is offered to employees of companies duly accredited by BPI Globe BanKO where payments are made via salary or payroll deduction.
Salary loan serves as a ready-benefit program with terms that caters to majority of employees in an accredited company. The salary loan’s fast and easy availment process and close integration with BanKO also makes it convenient for the accredited company to facilitate loan applications for its employees.
Since BanKO aims to extend loans to a wider employee demographic, employees who are not eligible with traditional banks are now more likely to successfully avail of a salary loan. BanKO also streamlined its application process to make the availment experience as quick and convenient as possible.
|Monthly Interest Rate||Monthly Effective Interest Rate||Payment Maturity||Payment Terms||Credit Line Validity||Late Payment Penalty|
|Salary Loan||2%||2%||After 180, 270, 360 or 720 days (3 mos. To 2 yrs.)||180, 270, 360 or 720 days (3 mos. To 2 yrs.)||n/a||5% of principal|
To read the Terms and Conditions for Loans, please click here