LandBank launches financial helpline for retirees

MANILA – The State Land Bank of the Philippines (LandBank) has launched a new loan facility offering financial assistance to retirees and government employees.

LandBank said on Thursday that its Pension and Emergency Relief (PeER) loan facility allows borrowers to obtain loans between PHP 20,000 and PHP 100,000 for emergency expenses, medical needs and other urgent financial needs.

The interest rate will be 10 percent annually.

The credit facility has two options: a retirement loan available to qualified customers with LandBank retirement accounts and an emergency assistance loan available to regular government employees with LandBank payroll accounts and at least one year of service.

Interested customers can apply at any branch or by contacting the bank’s customer service helpline, LandBank said.

“We are committed to expanding our accessible services for our diverse customers, including financial assistance during critical circumstances,” said LandBank President and Chief Executive Officer Lynette Ortiz.

“The new Peer Credit Facility provides timely financial assistance to assist them in times of urgent need,” he added. (PNA)