BHF RURAL BANK, INC. Launched its new loan product “F.A.S.T.” – Financial ASsistance For Teachers. with a goal to save Public School Teachers from their old lending practice.

It is available to all qualified public school teachers whose salaries and benefits is coursed through a single ATM card.  Loan term ranges from 12 months to 36 months, with  loan size of P10,000.00 to P120,000.00.  Maximum loan amount can be availed based on the applicant’s net-take-home-pay  ranging from P3,000.00 – P5,000.00.

Repayment is through a monthly amortization/installment, with interest rate of 22% per annum, based on the diminishing balance of the loan.  Basic documentary requirements, ATM card availability and employer confirmation of employment is required.  Proceeds of the loan could be used for the various purposes of the borrower.