About bank
PSSLAI (Public Safety Savings and Loan Association, Inc.) is a Filipino financial institution committed to serving and protecting individuals who serve and protect Filipino communities. It all began on July 1, 2003, when the Philippine National Police (PNP) was separated from the Armed Forces of the Philippines (AFP) following Republic Act No. 8367.
Features
PSSLAI is a non-stock, non-profit savings and lending association for members of the public safety community. The entity was created to protect the public safety sector's best interests. PSSLAI has been dedicated to supporting PNP, Bureau of Fire Protection (BFP) personnel, and their immediate relatives since that time.
PSSLAI produces goods and services with the happiness and financial well-being of public safety personnel in mind, despite having just 24 workers, a ₱54 million start-up capital, and a basement-level office at the Kiangan Hall at Camp Crame. It invests in superior service and cutting-edge technology to give its members a one-of-a-kind and remarkable experience. Its membership grew not only because of the high quality of its products and services but also because of its strong business ethics and integrity.
PSSLAI is one of the most admired and respectable SLAIs in the Philippines, thanks to its member-centered goods and services and the hard work and devotion of its board of trustees, administration, and staff. Its expansion is evidenced by the loyalty and patronage of over 250,000 members, a ₱67 billion asset portfolio as of December 2021, a 12-story state-of-the-art eco-friendly and innovative building along EDSA Quezon City, a subsidiary in Camp Crame, and 38 fully-equipped satellite offices in pivotal cities across the Philippines, specially designed and built to their standards.
Pros and cons
PSSLAI provides its members with various services, but you should carefully assess the benefits and downsides before utilizing them. This will allow you to make an educated decision before acquiring any of their products or services.
Pros
Their loan application is quick. You can get your cash in less than a week.
The online services like PSSLAI bilis online and PSSLAI Bilis mobile app offers members the opportunity to perform some financial operations online, like checking their loan status and payment of bills.
Cons
Their products and services are primarily offline-based. For example, you cannot apply for a savings account online.
They do not offer a lot of products and services compared to competitors.
Products
Below are some of the products offered by this institution.
Loans
Salary loan. Members can obtain the financial stability they require with the help of this loan. The loan has a guaranteed low-interest rate, quick loan processing, flexible payback periods, and so on.
Emergency loan. This loan provides emergency cash to address unforeseeable events and unanticipated bills. The loan has cheap interest rates, same-day approval, flexible payback terms, and so on.
Buy-out loan. With this loan, you can live a stress-free life by repaying your existing bills to another lending/financial organization and effortlessly monitoring and repaying all of your PSSLAI loans. It has reduced rates with flexible conditions, quick loan approval, flexible payment arrangements, and so on.
Back2back loan. You can keep your account balance far over maintenance with this loan. This secured loan allows you to borrow against your accounts while generating dividends/interest. The loan has assured cheap interest rates, quick approval processes, etc.
Pension loan. This financial aid program was created to meet the requirements of PNP and BFP retirees. You may cover medical, family, vacation, insurance, and other financial obligations in a single loan. It has guaranteed cheap interest rates, quick loan approval procedures, flexible payment arrangements, and so on.
Vehicle loan. You can now purchase a brand-new vehicle without breaking the bank. For work or pleasure, it has guaranteed cheap interest rates, quick loan approval procedures, flexible payment arrangements, and so on.
Savings account
Premium savings account (PSA). With this account, you can safeguard your money while also providing for the future needs of your loved ones. Begin little, save a lot, and earn more. It has a savings account with a passbook, the potential to make interest with a minimum balance of ₱1,000, tax-free interest, and other benefits.
