Wipeout Loan Promo
Promo Period: September 16, 2020 to December 31, 2020
1. This promo is open to any member who will avail of a qualified loan account during the promo period. Qualified loan products are as follows:
a. Salary/Emergency/Excess Salary Loans
Min. Amount: Php 150,000
Min. Term: 2 years
b. Pension/Other Pension/Additional Pension Loans
Min. Amount: Php 200,000
Min. Term: 2 years
2. Any loan cancellations on or before the intended raffle draw date shall be disqualified in the promo. Further, members with past-due accounts and loan accounts that went past-due during the promo period are automatically disqualified.
3. Qualified members earn one (1) eRaffle entry for every one (1) eligible loan account availed during the promo period. Members can earn as many raffle entries as they can provided, that each entry meets the required minimum requirement.
4. Raffle Prizes
The balance of the winning loan entry will be paid off depending on the prize category as follows:
|Prize Category||Raffle Prize||Number of Winners|
|Grand Prize||100% of the loan account's outstanding balance||1 from NCR|
|2 from Luzon|
|2 from Visayas|
|2 from Mindanao|
|2nd Prize||50% of the loan account's outstanding balance*||18 Nationwide|
|3rd Prize||25% of the loan account's outstanding balance*||34 Nationwide|
*The 50% or 25% pay-off on outstanding balance shall be applied to the latter part of the loan term.
5. A member can only win once. If the member is drawn twice, the member will take on the prize with the higher value.
6. All other expenses related to the pay-off of the loan shall be shouldered by PSSLAI.
7. Winning entries will be drawn electronically during the Annual General Membership Meeting on January 2021 at the PSSLAI Head Office.
8. Winners shall authorize PSSLAI to disclose and publish his/her name and other particulars in the official PSSLAI website and other social media pages.
9. Winners will be notified via their email address, mobile, landline number as indicated in their membership cards.
10. The prize is not convertible to cash.
11. PSSLAI employees, officers, and trustees are not eligible to join in the raffle.