Frequently Asked Questions

1. What is AUB Seafarers Loan Program?
   It is a non-collateral cash loans for seafarers.
   No co-maker/co-borrower required.
2. Who are qualified to avail?
   
   • At least 21 years old but not more than 60 years old upon loan maturity.
   • Gross monthly income of not less than 800USD
     (Basic Salary + G.O.T + leave pay declared in the employment contract)
3. How much can I avail?
   Minimum Loan Amount: P30,000.00
   Maximum Loan Amount: P500,000.00
4. How many months do I need to pay my loan?
   Maximum loan term is contract less two months.
   (If contract is 9 months, 7 months is the maximum loan term)
5. What charges will be deducted from my loan?
   1. Processing Fee: P2,000
   2. Service Fee: 0.3% of loan amount
   3. Doc Stamp Tax for loans more than 250,000
      (P1.50 for every P200)
   
   

   Sample Computation:
   
   Loan:   50,000.00
   less PF:   2,000.00
   less SF:   150.00
   Net Proceeds:   47,850.00

6. How will I pay my loan?
   AUB will automatically debit your AUB self allottee account. So, you need to open an account with any AUB Branch and you have to designate said account as your allottee.
   
   Your payment will start 60-90 days after the release of your loan.
7. How many days is the processing?
   For accredited agency - 24 hours processing upon receipt of complete documents
   For non-accredited agency - 72 hours processing upon receipt of complete documents
8. What are the requirements?
   1. Completely filled-out and signed Application form/Authority to Deduct
   2. Seafarers Employment Contract with POEA Stamp + OEC
   3. Photocopy of Passport
   4. Photocopy of Seafarer’s Registration Certificate (SRC) and Seaman’s Book
   5. Allotment Arrangement certified by the company.
   6. Certificate of Departure/Plane ticket issued by the manning agency.

For all inquiries, please call

SMART (0949) 802-2220
GLOBE (0926) 612-2822
LANDLINE (02) 687-9051

You may look for Gladys Celevarez or Edielyn Catantan.