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Loan application

Types of loan

We have six types of loan: General loan, Education loan, Marriage loan, Disaster loan,Medical and Nursing loan and Home loan.

Loan eligibility

  • We provide loan services for school personnel with regular membership: You may not apply when you have lost membership or when you are voluntary continued insurance members or specified personnel irrespective of whether you are in employment or not.
  • You are eligible for our General loan, Education loan, Marriage loan, Disaster loan and Medical and Nursing loan when your membership period is one year or more.
  • You may apply for our Home loan when your membership of Pension benefits is five years or more. Furthermore, Type B-1 and Type B-2 members are not eligible for our Home loan.
  • Membership types and eligibility of loan are shown in the table below. (refer to membership types)
Membership types and Loan application

Membership types

Loans (other than Home loan)

Home loan

Type A-1 members

○

○

Type B-2 members

○

×

Type B-3 specified personnel

×

×

Type C-4/C-5 members

○

○

Type C-6 specified personnel

×

×

Type B members

○

×

Type C members

○

○

Type C specified personnel

×

×

Voluntary Continued Insurance Members

×

×

Loan rates

In the principle rules of the loan regulation, the annual interest rate for our General loan, Education loan, Marriage loan, Medical and Nursing loan and Home loan is 4.26% and that for our Disaster loan is 3.40%. However, when the annual deposit interest rate is lower than 4.00%, the following special rates are applied.

Special Loan rates

Deposit interest rate

Loan rate
Loans (other than Disaster loan)

Loan rate
Disaster loan

Basics
(4.00% or more per annum)

4.26%

3.40%

Over 3.75% and less than 4.00% per annum

4.26%

3.40%

Over 3.25% and less than 3.75% per annum

3.76%

3.20%

Over 2.75% and less than3.25% per annum

3.26%

3.00%

Over 2.25% and less than　2.75% per annum

2.76%

2.50%

Over 1.50% per annum Less than 2.25%

2.26%

2.00%

Over 1.00% and less than 1.50% per annum

1.76%

1.50%

Less than 1.00% per annum

1.26%

1.00%

Note 1:
The going loan rate is 1.26% as of March 1, 2022 (the Disaster loan rate is 1.00%).

Note 2:
The special rate varies with the rate (the Rate on Deposits) determined by the Minister of Finance in accordance with Clause 3, Article 7 of the Fiscal Loan Fund Act. See FAQs on Loan Services

Loan application

All the procedures for loan application shall be done through the school office. The application shall be authorized by your school representative.

Loan application due date / remittance date

  • When your application reaches us on or before the 15th of the month, we will remit the loan to the designated school bank accounts registered with PMAC on the 2nd of the following month.
  • When your application reaches us between the 16th and the end of the month, we can remit the loan on the 22nd of the following month on request (circle “22nd” in the remit date column of the “Loan Application Form”).

Note:
When the 15th or the last date of the month falls on a weekend or holiday, application is due on the weekday before the weekend or holiday. When the date of remittance falls on a weekend or holiday, remittance is made on the first weekday following the weekend or holiday.

Maximum repayment allowed per repayment

When you apply for more than one loan, the total monthly repayment shall be limited to 30% of your Monthly Standard Salary. (As for Home loan, the semi-annual repayment shall be limited to 60% of your Monthly Standard Salary.)

Points to note regarding loan application

  1. You must fill out the “Loan Application Form” and other documents in handwriting except the column for school authorization.
  2. The documents should be submitted at the same time in a bundle.
  3. For the stamp used for the “Loan Application” etc., please use the same seal for all of the documents (including seals used for correction seals). Simplified stamps and name stamps cannot be used.
  4. We may ask to submit documents that verify the reason for applying and the content of the expenditure along with the documents confirming the requirements for each type of loan.
  5. You must refinance if you wish to apply for a new loan while you are repaying the same type of loan. Please circle “Refinancing” in the loan type column on the upper right of the Loan Application Form. Upon completion of refinancing procedures, a new loan amount will be remitted after deducting the outstanding principal and interest on the existing loan.
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