BusinessWorld
Maximum salary loan term now at seven years
THE CENTRAL BANK has increased the maximum repayment period for salary-based loans to seven years to give employees financial flexibility while also ensuring responsible borrowing. This comes amid long-time calls from teachers asking for longer loan terms to help ease their financial burden. “The Bangko Sentral recognizes the helpful role of salary-based, consumer lending schemes […]
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Source: bworldonline.com
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