Lowest loan interest rate for teachers

Wazzup Pilipinas!?

Malayan Bank launches Teachers’ Aid, a loan product created for Teachers. The 7% interest rate per year applies to all loan terms and is the lowest in the market today. Teachers’ Aid is open to all teaching and non-teaching personnel, employed by the Department of Education. Loan applicants can expect Malayan Bank’s customer-centric service with vehicles to be deployed to conveniently bring teachers from their homes to Malayan Bank branches to apply.

Up to P1 million loan open to DepEd Teachers, employees with Malayan Bank Teachers’ Aid

Bank’s newest loan product offers lowest-in-market interest rate and VIP service for teachers

A new loan product for teachers launches with Malayan Bank’s Teachers’ Aid, which offers the lowest interest rate in the market today. With only a 7% interest rate per year, across all terms, educators in the country can now loan between P5,000 to P1 million pesos to support their financial needs.

Teachers’ Aid is available to all Department of Education (DepEd) public school teaching and non-teaching personnel under DepEd’s payroll. The loan is intended to provide a ready financial line for teachers together with a unique brand of service that makes the entire loaning process easy, quick, and convenient in support of teachers’ busy and demanding work and life schedules.

“Teachers are some of the most hardworking people, and we acknowledge just how hectic their work and home life can be. We developed this product not only to give them access to funds when they need it, but also to help them ease their financial burdens in the simplest way possible. We’re helping them borrow money while making sure that they feel like a ‘VIP’ in the process of doing so,” shares Jhody D. Generoso, MSB Teacher Loans Head.

To ensure that teachers receive the ‘VIP’ treatment, Malayan Bank will deploy dedicated service vehicles to bring teachers to Malayan Bank branches from their home or school when they apply for a loan. Loans will also be released through the teacher’s preferred branch to facilitate the most convenience.

The 7% lowest-in-market interest rate per year applies to all loans, regardless of loan terms. Available terms for Teachers’ Aid are 12, 24, or 36 months. Loans will be paid through automatic payroll deduction system from their DepEd payroll.

Application for the Teachers’ Aid can be done in any Malayan Bank branch through designated bank employees. To apply, teachers are required to submit the following: accomplished loan application form, one month latest original payslip, permanent appointment letter, two valid IDs, and loan summary from a government financial institution like GSIS. Other documents may be requested upon evaluation of the application.

Teachers’ Aid will be available in Malayan Bank branches in the National Capital Region by October 18 with continuous roll out across the country: October 29 for Davao City, Pangasinan, Cavite and Laguna; November 5 for Baguio; November 12 for Pampanga and Bulacan; November 19 for Iloilo City; and November 26 for Cebu City.

If teachers who’d like to know more about this new loan product, they can visit any Malayan Bank branch or call the following numbers: (02) 8841-7800 loc. 166 / 0999 885 9263 / 0998 847 0584 / 0947 849 4776. They can also email customercare@malayanbank.com.ph.

For list of branches, visit www.malayanbank.com/branches.

LTFRB issues show-cause order to EDSA busway consortiums

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The Land Transportation Franchising and Regulatory Board (LTFRB) on Monday has issued show-cause orders against the two consortiums operating along the EDSA Busway for failing to deploy sufficient number of buses and amid “persistent reports” of non-payment of drivers’ and conductors’ salary despite having received payments for the Libreng Sakay Program.As a result, LTFRB Chairman Martin Delgra said the two consortiums were ordered to explain why their special permits should not be cancelled, suspended or not penalized for the low turnout of bus units that led to long queues at EDSA Monumento.

“Minabuti nating mag-issue ng show-cause order, directing the two consortiums running the EDSA Busway why their franchise or special permit in running the EDSA Busway should not be cancelled, suspended or that they be not penalized for deploying so few units,” Delgra explained on Monday during the Department of Transportation’s (DOTr) Road Sector media briefing.

Chairman Delgra explained that the agreed cap on the maximum allowable units of bus units are at 550 buses but the two consortiums on Monday only averaged as low as 120 units.

“Nakita natin kanina nag-average lang ng 150 units ‘yung dalawang consortium. At the lower end pa nga, umabot ng as low as 120 units if I’m not mistaken. We have to call their attention and direct the two consortiums to explain why the employment of these units,” Chairman Delgra said.

On the other hand, Chairman Delgra reiterated that the two consortiums were already paid under the Service Contracting Program yet there are still persistent reports of drivers and conducts complaining of their unpaid salary despite giving full service.

“Now that we have paid so much of this to operators already, particularly dito sa EDSA Busway Consortium or anyone for that matter, hindi na nila pwedeng gawing rason ang hindi pagbabayad sa kanilang drivers,” Chairman Delgra said.

He also reminded the two consortiums are responsible as there is a “employee-employer relationship” between parties and their contractual obligation as mandated by the Labor Code for the EDSA Busway Libreng Sakay Program.

“Mayroong kakulangan ang mga bus operators dito sa hindi pagbabayad ng mga sweldo ng kanilang mga tauhan. There is an employee-employer relationship doon sa mga bus operator and doon sa mga tsuper at konduktor that they hired,” he explained.

“I’d like to remind the bus operators, this is just not a contractual obligation but it is also an obligation that is mandated under the labor code. So, kailangan nilang bayaran ‘yang sweldo na ‘yan. Kikita man o sa palagay nilang malulugi sa palagay nila, kailangan paring bayaran ang sweldo,” he added.

Likewise, Department of Transportation (DOTr) Assistant Secretary Road Transport and Infrastructure Mark Steven Pastor also reminded operators of their obligation to the public, explaining that “public transport is imbued with great public interest” amid the COVID-19 pandemic.

“Alam natin na binaba dito sa NCR ang Alert Status to Level 3 kung kaya’t mas maraming pasahero ang sumakay. As Secretary Tugade always says— public health and public safety are at stake. Ipinapaalala natin sa mga kaibigang operators na itong ginagawa natin sa EDSA Busway or public transportation in general ay kinakailangan lagi tayong tumalima sa ating service level kung ilang units ang kinakailangang i-deploy at any given time,” Asec. Pastor said.

Ayuda sa mga driver ng mga pampublikong sasakyan sa gitna ng pandemya

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Imbes na direktang pagtataas ng pamasahe na makaka-apekto sa higit na nakararaming pasahero, isinusulong ng Department of Transportation (DOTr) at Land Transportation Franchising and Regulatory Board (LTFRB) ang pagbibigay ng ayuda sa mga driver ng mga pampublikong sasakyan sa gitna ng pandemya.
Ayon kay Transportation Secretary Art Tugade, itinutulak ng DOTr at LTFRB ang mga programa na magbibigay tulong, suporta, at ayuda sa mga driver at operator, na hindi nangangailangang magpatupad ng taas pamasahe.

“Kinakailangang balansehin natin ang pangangailangan ng mga drayber sa kakayanan ng mga pasahero ngayong pandemya. Kaya imbes na direktang pagtataas ng pamasahe, ayuda sa drayber at ayuda sa pasahero ang itinutulak natin,” pahayag ni Secretary Tugade.

“Naiintindihan namin ang sitwasyon ng ating mga drayber at tsuper, ngunit naiintindihan din namin ang hirap ng ating mga commuter. Alam naman natin na may ilan tayong kababayan na nawalan ng trabaho. Marami rin naman sa atin ang kababalik pa lamang sa trabaho. Ngayon pa lamang sila bumabawi, kaya sa aming pananaw ay hindi napapanahon na magpatupad ng fare increase,” dagdag ni Secretary Tugade.

Ayon naman kay DOTr Assistant Secretary Mark Steven Pastor, masusing pinag-aaralan ng LTFRB ang petition for fare hike na inihain ng mga transport group noong nakaraang linggo. Daraan aniya ang petisyon sa mga pagdinig bago ang pagtukoy kung kailangang magtaas ng pamasahe.

Inihayag din ni Pastor na patuloy ang pakikipag-ugnayan ng DOTr at LTFRB sa Department of Energy (DOE) upang magkaroon ng uniform discount ang mga pampublikong sasakyan, partikular na ang mga jeepneys, sa lahat ng mga gas stations sa buong bansa.

Sumulat na rin ang DOTr at LTFRB sa DOE upang magbigay ng suhestyon kung paano maiibsan ang epekto ng tuloy-tuloy na pagtaas ng presyo ng langis sa operasyon ng mga PUV, kasama na dito ang pagbibigay ng fuel subsidy.

“Sumulat po kami last week, ang DOTr at LTFRB sa Department of Energy upang magbigay ng suhestyon at upang humingi rin ng kanilang cooperation na magkaroon po sana ng mga programa ang DOE na maging mandatory po ‘yung mga discounts sa ating public utility vehicles sa mga gas stations nationwide,” dagdag ni Asec. Pastor.

“With the guidance nga ni Secretary Tugade, kailangan nating balansehin ang interes. Kinikilala natin at ramdam natin ang kailangan ng ating mga tsuper at operator, but at the same time, maghanap tayo ng solusyon na hindi rin matatamaan ‘yung mas nakararami pa na mga mananakay,” ani LTFRB Chairman Martin Delgra III sa kanyang panig.

Samantala, muling inaanyayahan ng DOTr at LTFRB ang mga drayber at operator na lumahok sa Service Contracting Program, kung saan babayaran sila ng gobyerno sa kada nakumpletong biyahe o trips, habang sinisiguro na mananatiling tuluy-tuloy ang kanilang pamamasada. Bilang konsiderasyon sa pagtaas ng presyo ng krudo, pinag-aaralan na rin na taasan ang insentibong ibinibigay sa ilalim ng programa.

Dagdag pa dito, hinihikayat din ang mga transport stakeholder na samantalahin ang libreng pagpapabakuna. Noong Hulyo, inilunsad ang vaccination drive para sa PUV drivers at ibang empleyado ng transport sector. Magagamit nila ang kanilang vaccination cards para makatanggap ng mga karagdagang diskuwento sa gas stations at mga kainan.