Brief Description

Back-to-Back Loan is a standby loan available to existing Savings and Time Deposit account holders that intends to bridge financial gaps for personal and business purpose.

Features

For a minimum of PhP100,000. loan, a client can borrow against his Savings and Time Deposit in Peso or US Dollar.

Requirements

• Conforme
• Offering Ticket (OT)
• Auto Debit Arrangement (ADA)
• Two (2) copies of notarized Promissory Note with Deed of Assignment (PNDA)
• Marital consent shall be required unless waiver for such condition is stipulated in the Offering Ticket (for assignors who are married)
• In case of corporate borrowers, a Secretary's Certificate on the Corporation's Board of Approval:
  • authorizing the Officers of the Corporation to secure a loan from the Bank
  • authorizing the use of the deposit as a collateral for the loan
  • specifiying the authorized signatories for the documents related to the transactions
• Certificate of Time Deposit duly endorsed by the depositor/assignor or passbook stamped "With Hold-Out"

List of Acceptable IDs