List of APDS-Accredited Banks offering One-Month Loan Moratorium to DepEd Personnel
List of APDS-Accredited Banks offering One-Month Loan Moratorium to DepEd Personnel
This set of policies is a draft of the DepED Moratorium awaiting approval. Please note that these are not final and have no effect as of this posting. They may be subject to change before being signed and published.
To: All Payroll Processors in the Regional Offices, Schools Division Offices and Implementing Units
All concerned DepEd Personnel
1. Attached as Annex A is the list of APDS-accredited banks that will provide a one-month loan moratorium to DepEd personnel in response to the request of Secretary Sonny Angara. The said loan moratorium shall be provided by these banks through a refund of the monthly loan amortization.
2. The moratorium shall be optional, allowing DepEd personnel to continue regular loan payments if they prefer not to avail of the moratorium. This ensures flexibility for DepEd personnel who may want to avoid an extension of their loan terms.
3. The banks will provide a one-month loan moratorium only to those in officially declared calamity-stricken areas (since September 2024). The banks shall be responsible for identifying if a DepEd personnel is qualified for a refund. A DepEd borrower may apply for a refund from January to March 2025.
4. The loan moratorium shall not apply on payments for loans granted starting December 2024.
5. Interest shall not be waived during the moratorium. As clarified, while interest will accrue, no interest on interest, penalties, or surcharges will be applied. The corresponding amount of interest for the applicable month will not be included in the refund
6. The termination date of loans of DepEd personnel who requested for loan moratorium shall be extended by one month. However, the banks shall submit billings reflecting the extension of termination date of the concerned DepEd personnel
7. Interested DepEd borrowers who wish to avail of the loan moratorium through refund must coordinate with their respective lenders for the process of application and availment.
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To: All Payroll Processors in the Regional Offices, Schools Division Offices and Implementing Units
All concerned DepEd Personnel
1. Attached as Annex A is the list of APDS-accredited banks that will provide a one-month loan moratorium to DepEd personnel in response to the request of Secretary Sonny Angara. The said loan moratorium shall be provided by these banks through a refund of the monthly loan amortization.
2. The moratorium shall be optional, allowing DepEd personnel to continue regular loan payments if they prefer not to avail of the moratorium. This ensures flexibility for DepEd personnel who may want to avoid an extension of their loan terms.
3. The banks will provide a one-month loan moratorium only to those in officially declared calamity-stricken areas (since September 2024). The banks shall be responsible for identifying if a DepEd personnel is qualified for a refund. A DepEd borrower may apply for a refund from January to March 2025.
4. The loan moratorium shall not apply on payments for loans granted starting December 2024.
5. Interest shall not be waived during the moratorium. As clarified, while interest will accrue, no interest on interest, penalties, or surcharges will be applied. The corresponding amount of interest for the applicable month will not be included in the refund
6. The termination date of loans of DepEd personnel who requested for loan moratorium shall be extended by one month. However, the banks shall submit billings reflecting the extension of termination date of the concerned DepEd personnel
7. Interested DepEd borrowers who wish to avail of the loan moratorium through refund must coordinate with their respective lenders for the process of application and availment.
List of APDS-accredited banks that will provide a one-month loan moratorium to DepEd personnel in response to the request of Secretary Sonny Angara.
UPDATING
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