Expanded Salary Loan

Life’s urgent necessities are unavoidable. AFPMBAI has got you covered through such emergencies. It is a reliable partner offering loan and equity privileges.



  • For 55-year old AFP regular members of the Association who are going to retire within the year and their lump sum pay has not been computed by AFPPGMC
  • Maximum loanable amount is P1M or will not exceed 25% of the member’s lump sum pay benefit (commutation pay included)
  • With an annual 5% interest only before the member receives his lump sum pay
  • Total loan amount and interest that has not been paid if any, will be deducted from the lump sum pay




  • The borrower must have an active Additional Insurance and/ or E56 with AFPMBAI which is enforced for at least 1 month at the time of application.
  • The borrower must have a good credit record as determined by any credit bureau/facility. All his/her accounts should be current and have NO ARREARS.
  • The borrower should have a NET TAKE HOME PAY as required by his branch of service/bureau after deducting the monthly amortization of salary Loan/MEDAL.
  • One Expanded Salary Loan per borrower is allowed regardless of the number of policies held but not exceed the aggregate face amount of his/here insurance.


  • Expanded Salary Loan Application Form with Promissory Note and three (3) sets of Authorization to Deduct duly accomplished and signed by the member-borrower
  • Deed of Assignment of Lump Sum Pay equivalent to the Face Amount of Loan plus unpaid interest
  • Original latest Payslip of the borrower for three (3) consecutive months
  • Post-dated check from the borrower with amount equal to the borrower’s approved ESL plus interest from the loan approval up to the borrower’s retirement date
  • Military ID and one (1) Government Issued ID
  • PGMC Certification that the borrower has applied for retirement benefit and it is currently under process by them
  • Accounting clearance issued by the Major Service and AFP GHQ
  • Any other documents as mandated by the member-borrowers’ Branch of Service for them to qualify to avail loans
  • For loans above P200,000, SLRI Health Questionnaire duly accomplished and signed by the member-borrower