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