Easy Loan is a feature SAL Pay users that allow longer terms and higher value. We have several lenders available for this product, and you will be matched through a request-bid-accept cycle, giving you control over the terms that the lenders can offer. In addition, by availing of this service you will be agreeing to share some of your primary employment data with lenders. Collections and repayment are handled by the SAL Pay app, through automated deductions coming from your SAL Pay account balance.
 

To utilize the Easy Loan service, go to your SAL Pay wallet on your Employee Self Service Portal, and click “Request A Loan” on the SAL Pay Loans section.

 

Enter the amount you are borrowing, the terms or duration of loan, and choose a purpose on the drop down option. 

Please note that the minimum amount for Easy Loans is Php 5,000, while the maximum amount is Php 250,000.


 

Click the tick box for the terms and conditions and “Request” to complete your loan request.

 


 

 If you want to know more about the Terms and Conditions of the Request a Loan service, click the link and you will be directed to the Terms of Service Agreement  page.

 


 

Once you have finalized your loan request, you will see the success pop up on the top of the page.

 

 


Please note that you can only have one ongoing loan request at a time. Pressing the request a loan button while having an active request will notify will give you an error message that you can only have one loan request.

 

The summary of your existing loan request will be on the SAL Pay Loans section. The request will expire in 8 days, if no lender has provided an offer to your loan request. 


 

If you would like to cancel your request, you may click on the Cancel Request button. A pop up will appear to finalize the cancellation. You may also prompt to keep request.

 


 

You will receive an email when lenders have made an offer to your loan request.

 

You will also receive an email notification when no lenders have made an offer to your loan request, and your request has expired.

 


 

On the loan overview page, you will be able to see all currently available offers for the loan request. Every loan offer can be rejected or accepted individually. Loan offers do not expire, whereas the loan request expires.  Click View Offer to review the terms, and to be able to reject or accept the offer. 


The loan details will display the total loan amount, the terms, and the interest that is going to be applied to the loan amount. The payment details will display the first payment date, the amount per payment, and the interest that you will be paying per payment deduction.

 


You can click “Reject” on all offers if there are no offers that would meet your expectations. You may click accept to the offer that you choose, and all the other offers would automatically be rejected.

 


 

 Accepting a loan offer needs to be confirmed by first reading the Terms & Conditions of the lender. Once you have verified the terms, you will be able to accept the loan offer as proposed by the lender.

 

Once you have accepted an offer, the request is going to be marked as accepted and the money will immediately be transferred to your SAL Pay balance. 

 

The summary of the loan will also be on the SAL Loan status, together with the date of the next deduction, and the outstanding balance.