NEWS & PROMOTIONS

promotions

News Promotions

See the best deals and use them to your advantage!

GO GO GO Be a Ka-Miyembro for FREE!

Open to all prospective members (regular or associate) who avail of a loan at the time of membership application.

Prospective members may avail of any of the Association's loan products without a minimum loan amount or term (subject to existing loan product parameters).

Promo period is from September 16, 2024 to December 27, 2024.

Mechanics:

1. New member-borrowers will receive the following benefits:

     a. FREE initial deposit in their Capital Contribution (CapCon) Account worth P1,000

     b. FREE initial deposit in their Cash Advance Storage Account (CASA) worth P100

     c. FREE Membership fee

     d. FREE CapCon and CASA Passbooks

     e. FREE PSSLAI Membership ID

2. If the member cancels the loan account before maturity, the initial CapCon and CASA deposits and other charges related to the loan account shall be charged to the member with the following options:

    a. For Regular Members:

        i. Deposit the ₱1,100 initially credited to their accounts and any charges related to their loan to any of their accounts.

        ii. Payment methods:

                · Cash (HO or Branch)

                · Debit from account

                · Deposit/Transfer to PSSLAI’s PNB:

                                   o Account Number: 122710044933

                                   o Account Name: Public Safety Savings and Loan Association, Inc.

    b. For Associate Members:

         i. Deposit the ₱1,100 initially credited, plus the ₱150 membership, passbook, and ID fees, and any charges related to their loan to any of their accounts.

3. If the member cannot pay the ₱1,100, membership will be terminated in accordance with the policies and procedures for voluntary membership termination as provided in the MMRCD Manual. The member must fill out and sign the Membership Termination Form.

4. Upon termination, the free ₱1,000 CapCon and ₱100 CASA deposit will be collected by PSSLAI.

5. Reprocessed loans are eligible under this promo and are not subject to additional charges to the member.

6. Members who have previously terminated their membership and decide to reinstate their membership are eligible to participate, provided they had no outstanding obligations or written-off loans during their previous membership term.

7. Reinstated members with outstanding obligations or written-off loans during their previous membership are not eligible for this promo.

8. All loan accounts availed are subject to the existing terms and conditions of PSSLAI.

9. By joining this promo, the Member confirms that he/she has read, understood, and agrees to the promo mechanics, including but not limited to its terms and conditions.

Loan Products:

  • Salary Loan                                            
  • Emergency Loan
  • Excess Salary Loan
  • Other Salary Loan
  • Universal Loan
  • Affordaloan

Feature:

  • Fast access to cash is now even more affordable where payments are made via salary deduction to finance personal needs, home renovations, and other planned or unplanned expenses.

Maximum Loanable Amount:

  • 12 months regular Salary plus Deposits and Contributions with PSSLAI

Term and Interest Rate:

  • 3 months to 5 years @ 8.25% p.a.

Requirement/s:

  • PNP :
    • No requirements
  • BFP :
    • Recent Duty Status
    • Certificate of Non-Pending Case
    • BFP ID
    • One (1) Valid ID
  • NAPOLCOM and PPSC :
    • Two (2) Recent Payslips
    • Certificate of Employment and Compensation
    • Certificate of Non-Pending Case

Additional requirement if for Buy-out:

  • Outstanding Loan Balance from other lending institution/s

EIR Rate p.a.: 3 months @13.055% p.a. to 5 years @15.533% p.a. Other charges: Insurance based on Board approval. Documentary Stamp Tax: Php1.50 for every Php200 for loans above Php250,000. Maximum Loanable amount and interest rates are subject to change without prior notice.

 

Loan Products:

  • Pension Loan
  • Additional Pension Loan
  • Excess Pension Loan
  • Other Pension Loan

Feature:

  • Financing retiree’s or loved ones medical, insurance, and other expenses is now more affordable.

Maximum Loanable Amount per Age Bracket:

  • 65 years old and below - up to Php 3 Million
  • 66 - 75 years old - up to Php 1 Million*

Term and Interest Rate:

  • 6 months to 5 years @ 8.25% p.a.

Who can avail:

PNP and BFP Retirees, Survivors, Transferees who are already receiving their monthly pension

Requirement/s:

EIR Rate p.a.: 6 months @14.943% p.a. to 5 years @15.533% p.a. Other charges: Insurance based on Board approval. Documentary Stamp Tax: Php1.50 for every Php200 for loans above Php250,000. Maximum Loanable amount and interest rates are subject to change without prior notice.

* Medical Evaluation is needed from accredited clinics/hospitals of PSSLAI’s current Insurance Provider

Free Burial Benefit

Promo Period: October 19, 2020 onwards

Burial Benefit:

Burial Benefit amount of Php 100,000 for:

  • Active Personnel - If the cause of death is in the line of duty
  • Associate and Pensioners - if the cause of death is due to heroic acts (Subject to insurance assessment and approval)

Burial Benefit amount of Php 50,000 if the cause of death is due to natural causes

Promo Mechanics:

  1. Any member who avails of a qualified loan starting 19 October 2020 onwards are automatically qualified to the free burial benefit program regardless of the member’s age, membership type (regular or associate), availed loan type (new or renewal), loan term and loan amount.
  2. To qualify for the benefit, a member-borrower must avail a salary-deducted or pension-deducted (new or renewal) loans from October 19, 2020 onwards.
  3. The following products are excluded from the list of eligible products for availment to qualify in the program, viz:
    1. Dividend Loan (DL)
    2. Net Pay Loan (NL)
    3. Overpayment Loan (OP)
    4. Bonus Loan
    5. Real Estate Loan
    6. Back-to-Back Loan
    7. Collateralized Motorcycle Loan
    8. Vehicle Loan
    9. Pre-owned Vehicle Loan
    10. Easy Pay Loan
    11. Ready Pay Loan
  4. Only one (1) burial benefit shall be given to the qualified member-borrower regardless of the number of loan accounts availed from the start of the program.
  5. Member-borrowers who have existing loans prior to the start of the program BUT will not avail of a new loan or renew any of his/her existing loan accounts are NOT eligible to the burial benefit.
  6. The burial benefit is renewed annually.  Hence, as long as the qualified member-borrower has an active loan account from the time the program started until his/her untimely demise, the burial benefit shall remain active.
  7. A qualified member-borrower’s burial benefit coverage shall be automatically discontinued subject to the following:
    1. Member-borrower pays off all existing loans; or
    2. Member-borrower has contracted a past-due account from any of his/her existing loan accounts
  8. A disqualified member due to any reason as indicated in Item #6 can re-qualify to the burial benefit program provided the following:
    1. For member-borrower with a past-due account, they must settle their past dues either by availing of a new loan or renewing an existing loan account.
    2. For member-borrower with paid off loans, they must avail a new loan account to re-qualify
  9. Claiming of the burial benefit shall be subject to the following parameters during the time of death, otherwise, the claim will be deemed disapproved, viz:
    1. The member-borrower must have an active loan; and
    2. The member-borrower must not have any past-due account.
  10. For death due to the performance of a heroic act, the burial benefit claim is still subject to the assessment and approval of the insurance company.
  11. Contestability period is applicable for qualified members with ages 75 years old and above.
  12. For purposes of this program, "HEROIC ACT" refers to an act of defending, protecting or helping others in need despite the risk to life of the member, and which resulted in his/her death.
  13. The Burial Benefit program shall remain in effect unless otherwise suspended or terminated by the Board of Trustees.