The whole National Capital Region and the rest of Luzon is now in Enhanced Comunity Quarantine. In effect, it brought the whole of Metro Manila in a government mandated total lockdown where the populace are required to observe a strict home quarantine, with several exemptions.
In light with these developments, some financial institutions catering to the MUPs, PSSLAI included, decided to close their Luzon branches.
In this time of uncertainty, the saying that goes “Cash is King” really holds.
For those who want to apply for the various loan packages offered by PSSLAI, they have provided an “Online Loan Inquiry/Application” portal in their website.
If you’re interested, I will give you a Step-by-Step Guide on how to do it below.
1. Go to their website.
Yes, the first step really is to go to their website. Here’s the direct link to the Online Loan Application/Inquiry portal.
2. Fill out the Online Form
Once there, fill out the online form. Provide your full name, select your branch of service (PNP, BFP, Others).
It is also important that you provide an active cellphone number and email address in the contact information boxes. PSSLAI representatives will contact you thru those number and email address.
Then, select the Loan Product of your choice among the selection in the drop down menu. Finally, type in the exact amount that you wish to apply for a loan.
After filling out and selecting all necessary information in the online form, you need to click the button “SUBMIT” located just below the Loan Amount. Wait for the page to load and acknowledge your application.
3. Wait for a call from PSSLAI CALL CENTER Representative.
After doing the above steps, what’s left for you to do is to wait for a cellphone call from a PSSLAI CALL CENTER Representative. The representative will do some basic verification.
(This may take sometime, from within the day upon submission of online application, up to several days. Several sources said that it averages of 1-3 days.)
He/she will also ask you to confirm that you really intend to apply for that loan and will provide you with the Net Take-home amount, the monthly amortization depending the length of your loan term.
Once you agreed, your loan will be forwarded to a Loan Processing officer of PSSLAI.
At the same time, the PSSLAI Representative will send the online loan application form to the email address that you have provided for during the online application process.
IMPORTANT NOTE: IF YOU LIVE AND IS ASSIGNED IN LUZON, YOUR LOAN PROCESSING WILL TAKE PLACE AT A PSSLAI OFFICE IN VISAYAS OR MINDANAO THAT IS STILL OPEN.
BUT IF YOU ARE FROM VISAYAS AND MINDANAO, AND IS NEAR AN OPEN PSSLAI BRANCH, THEY MAY ADVISE YOU TO GO THERE TO WITHDRAW YOUR LOANED MONEY.
HOWEVER, IF YOU HAVE YOUR number registered to PSSLAI’s iTrack services, you may opt to withdraw thru MLhuiller or PNB.
4. Wait for the a call from PSSLAI LOAN PROCESSING OFFICER
The assigned loan processing officer will call you to assist and guide you during the whole loan process. He will also ask if you had already received the Loan Application Forms and Documents via Email.
The cue here is for you to follow what the Loan Processing officer says and ask all your questions if you need clarification.
5. Check your Email account, download and fill outthe forms
At the email address that you had provided earlier, you will receive the Loan Application Forms. There are at least four types of forms.
Download each one, print it and fill out the checked portion. You may also ask the Loan Processing officer to guide you during the filling out. He/she will also provide an email address where you will send the filled out forms.
6. Scan and Send the forms
After filling out all forms, scan and send via email to the email address provided by the Loan Processing Officer.
Also include a scanned back-to-back copy of your PNP and PSSLAI IDs. Remember to put three signatures on the scanned PNP ID.
The Loan Processing Officer may contact you if you lack something or if you need to provide additional forms, document or information, or there are corrections on the submitted forms.
7. Wait for Loan Application approval
It may take at least 30 mins for your online loan application to be approved. During this time, the Loan Processing Officer may contact you to give updates.
Once approved, your loan net proceeds will be deposited to your CASA account.
8. Withdrawal of Loan Net Proceeds
The last part, but the most exciting, of the online loan application process is the withdrawal of Loan Net Proceeds.
For those with Registered iTrack numbers, you may withdraw it via MLhuillier or PNB. It’s just a matter of choice. Do note that ML has a 50K daily limit on transactions. On the other hand, PNB operations may be affected by the ongoing Enhanced Community Quarantine in Luzon. So, choose wisely.
For those without iTrack accounts, kindly refer to the PSSLAI Call Center Representative if there are other available options. Don’t proceed with the actual loan application if you are left with no available options.
I am not encouraging you to apply for loan. I am not paid by PSSLAI to write this. But as I mentioned above, this is an extraordinary time, if you have no emergency fund saved, your next bet is to apply for a loan.
This is because you will need enough money to buy medicines, vitamins, sufficient and healthy foods, and other stuffs. You may already stressed out by the pandemic, don’t stress yourself further by not having enough money to buy essentials. Remember also, during crises, supplies run out fast.
OR IF YOU DON’T WANT TO APPLY FOR A LOAN, FOR WHATEVER REASON, BUT HAS AN EXISTING ONE, YOU MAY SUPPORT THE PETITION FOR THE FINANCIAL INSTITUTION TO WAIVE ONE MONTH OF LOAN PAYMENT COLLECTION. JUST CLICK THIS LINK https://www.change.org/p/psslai-suspension-of-loan-payment-collection-from-servicemen