#LANDBANK Loan

Land Bank of the Philippines (LANDBANK) has recently revealed the expanded coverage of its Interim Students’ Loan for Tuitions towards Upliftment of Education for the Development of the Youth (I-STUDY) program, covering the purchase of electronic gadgets that students need for online learning. I-STUDY Lending Program: What you need to know Under the enhanced I-STUDY Lending Program, LANDBANK now offers a loan of up to PHP 50,000 per student to finance the purchase of learning gadgets such as laptops, desktops, or tablets.  Formerly, the I-STUDY program only covers tuition or enrolment-related fees. This can be included in the maximum loanable amount of PHP 150,000 per student or PHP 300,000 per parent borrower to cover payment for tuition or enrollment-related fees. The loan is available in either Short-term Loan or Term Loan. The Short-term Loan is payable within 1 year via a 360-day promissory note (PN), while the Term Loan is payable up to a maximum of 3 years inclusive of 1 year grace period on the principal. The loan comes with a 5% interest per annum, which is fixed for the entire term of the loan. Meanwhile, the penalty for loan default is at 24% per annum. Should you have other questions and clarifications, you may email at [email protected], or contact LANDBANK's Customer Care Hotline: (+632) 8 405-7000 | PLDT Domestic Toll-Free 1-800-10-405-7000. Read more in our articles including "Landbank gadget loan: How to apply" and "LANDBANK offers PHP 50K loan for online class gadgets".