Definition:
Time Plan Loan is a multi-purpose loan extended to employees of accredited private companies and to achieve the following Customer’s Benefits:

1. Convenience – loans are processed at the earliest possible time
   Borrowers do not have to go to the bank to pay amortizations, repayment is via salary deduction
2. Worry-Free – Since no collateral is required, clients can be provided with their basic necessities and indulge in luxuries without any hassle
3. Affordability – interest rates are low and payment terms are comfortable and easy on the budget
4. Efficient and Personalized Service – efficient staff of UCPB Savings will promptly answer question and offer assistance with a personalized touch

ACCREDITATION PROCESS

1. COMPANY
   1. Company must apply for accreditation.
   2. KYC rule must be observed by the AO/BH on pre-qualification stage in accordance with the AML Manual.
   3. Company must execute a Memorandum of Agreement covering TPL loans to its personnel.
   4. MOA must include provisions covering the following:
      • Warranties and Responsibilities on deduction and remittance of payments.
      • Hold of employee’s final claim and its application to any outstanding TPL in case of resignation/termination or separation from the company.
      • Notice to the Bank’s Collection group of resignations and separations as this event would make the employee’s loan due and demandable.
   5. Company must have a minimum of fifty (50) regular and permanent employees.
   6. Company must have profitable operation for the last five (5) years.
   7. Audited Financial Statement for the last three 3 years duly stamped received by BIR.
   8. Should have adequate benefits for employees such as retirement, commutation of VL or SL, etc.
   9. Credit Investigation performed by CI as requested by the AO/Branch Head and the entity including its Directors.
2. EMPLOYEE:
   1. Must be a Filipino citizen.
   2. Must be permanent employee of the accredited company for at least three (3) years.
   3. Must be 23-55 years old Must have proof of billing to validate the identity of the borrower.(Billing Statements)
   4. Credit investigation performed by CI as requested by the AO/ Branch Head.

CREDIT INVESTIGATION:

1. 1. CI shall be performed by CAID Authorized Associate as follows:

1. Experience with other Banks or referrals (for Company)
2. Guidelines on request for CI and sending of CI reports are under CAID Manual.

1. EVALUATION
   1. Evaluation of Company Accreditation shall be the responsibility of the Branch Head/Credit Officer and Region Head/BBD Head.
   2. Evaluation shall be based on:
      • Complete Pre-Accreditation Documents
      • CI Report
   3. 3. Results of evaluation shall be documented using the Credit Recommendation and Approval Memorandum (CRAM).
   4. Application may be any of the following:
      • New or first time accreditation
      • Renewal or repeat accreditation
2. APPROVAL OF ACCREDITATION
   1. Approving Authorities
      • Company Accreditation – recommended by the Branch Head, endorsed by the Credit Officer / Region Head and approved by the Branch Banking Division Head.
   2. Documentation deficiencies, other deviations and policy exceptions shall be covered in POLEX.

LOAN AVAILMENT-LOAN AMOUNT

FEATURES:

DOCUMENTARY REQUIREMENTS:
1. Latest Income Tax Return
2. Two (2) months’ payslips (original & photocopy)
3. Latest “1 x 1 ID” Picture
4. Two (2) Valid IDs (i.e. Company ID & 1 Govt. Issued ID, Phil. Passport, etc.)
5. Proof of Billing/Latest Billing Statement from a Credit card/Utility Company
6. Certificate of Residency/Barangay Clearance
7. Certificate of Employment

REQUIRED FORMS:
Application for Accreditation-USB Form 05-44
Salary Loan Application Form (USB Form 05-01)
Salary Loan – Borrower & Co-Maker’s Authorization (USB Form 05-06B)
Credit Recommendation Approval Memorandum-USB Form 05-26
Promissory Note-USB Form 05-09