Teachers’ Salary Loan Payment Extension - City Savings

The City Saving Bank releases an advisory to all DepEd-teacher borrowers with regards to their loan payment for the month of April 2020.

The advisory states that the loan payment of all DepEd-teacher borrowers due for the month of April 2020 will be extended to May 2020.

This is another good news to be able for the teachers to maximize their budget in this time of crisis. Many teachers have expressed their gratitude to City Savings for this kind consideration.

FAQs: Teachers’ Salary Loan Payment Extension

1. Will I receive a refund since my loan payment in April has already been deducted from my payslip?
Answer:  Yes, the loan payment deducted from your April payslip will be refunded to you by DepEd.

2. Who will I need to coordinate with if I haven’t received my refund?
Answer:  You can directly coordinate with your Division office/School to ask about your loan payment refund.

3. What happens to my loan maturity date now?
Answer:  The termination date of your loan shall be automatically extended in DepED’s payroll program for another month.
Example:
Original Termination Date:  April 2023
New Termination Date:  May 2023

4. Will I incur penalties and other charges since there’s no payment made in April?
Answer: We will waive all penalties and other charges for your undeducted loan payment in April.

5. What if I still want to pay my loan amortization in April?
Answer: You can pay over the counter at any of our accredited collection channels:
* City Savings Bank branches        * M.Lhuillier Kwarta Padala branches
* PeraHub branches                        * UnionBank of the Philippines branches

6. Where can I learn more about the loan payment extension?
Answer: You can follow our official Facebook page at facebook.com/citysavingsbankofficial or visit our official website at citysavings.com.ph for real-time updates. You may also reach us at 0917-8SIMPLE (0917-8746753)

Source: City Saving Official Facebook Page

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