PSSLAI; What You Need To Know
PSSLAI stands for Public Safety Savings and Loan Association, Inc. It is a non-stock savings and loan association in the Philippines that caters to the financial needs of public safety personnel, including members of the Philippine National Police (PNP), Bureau of Fire Protection (BFP), Bureau of Jail Management and Penology (BJMP), and the Philippine Coast Guard (PCG), among others.
PSSLAI was established in 1957 and has since then been committed to providing its members with various financial services, such as savings accounts, loans, insurance, and investment opportunities. It aims to promote financial stability and security among its members, especially those who are involved in the country’s public safety and security sectors.
PSSLAI is governed by a board of directors, elected by its members, and is regulated by the Bangko Sentral ng Pilipinas (BSP). With its years of experience in the industry and its dedication to serving its members, PSSLAI has become one of the leading savings and loan associations in the Philippines.
PSSLAI Loan Services
PSSLAI offers various loan services to its members, including:
- Salary Loan – a short-term loan that allows members to borrow up to 90% of their net take-home pay. This loan can be repaid within 6 months.
- Special Loan – a loan that can be used for various purposes such as educational expenses, medical expenses, home improvement, or car purchase. The maximum amount that can be borrowed is dependent on the member’s net take-home pay and capacity to pay.
- Emergency Loan – a loan that can be availed by members who are affected by natural calamities or disasters, such as typhoons, earthquakes, or fire. This loan can be repaid within 12 months.
- Pension Loan – a loan that can be availed by members who are receiving retirement or pension benefits. The maximum amount that can be borrowed is dependent on the member’s retirement or pension benefit.
- Educational Loan – a loan that can be used to cover educational expenses, such as tuition fees, books, and other school-related expenses. The maximum amount that can be borrowed is dependent on the member’s net take-home pay and capacity to pay.
All of these PSSLAI loan services have competitive interest rates and flexible payment terms, depending on the type of loan availed. Members can apply for these loans through the PSSLAI website or by visiting any of its branches nationwide. You can also check PSSLAI loan table 2021 or check your monthly amortization through PSSLAI loan calculator.
Who Can Avail PSSLAI Services
PSSLAI’s financial services are exclusively available to the following public safety and security personnel in the Philippines:
- Members of the Philippine National Police (PNP)
- Members of the Bureau of Fire Protection (BFP)
- Members of the Bureau of Jail Management and Penology (BJMP)
- Members of the Philippine Coast Guard (PCG)
- Members of the National Mapping and Resource Information Authority (NAMRIA) who are designated as “Technical and Scientific Employees”
- Members of the Philippine Public Safety College (PPSC) who are regular employees
- Members of the Office of the Ombudsman who are classified as “uniformed personnel”
- Members of the Department of Justice (DOJ) who are classified as “prosecutors”
To become a member of PSSLAI, one must submit a membership application form and meet the eligibility requirements set by the association. This includes being a permanent employee of any of the mentioned agencies or offices and complying with the other membership requirements.
