Guide on BDO Cash Loan 2024 Features & Requirements for Application
BDO CASH LOAN 2024 – Here are the minimum and maximum loanable amounts for the clients under the BDO Personal Loan offer.
Banks are among the entities that you may turn to in times of need. There are countless loan offers out there. However, not all are provided by reputable banking entities and provide utmost flexibility in the purposes they serve like the BDO Personal Loan.
The Personal Loan offer or also called the BDO cash loan is ready to help you bring your plans to life. You may apply for it to finance any of the following purposes that may need a quite huge amount of funds:
- Home Improvements
- Education/Tuition Fee
- Appliances/Furniture/Electronic
- Vacation/Travel
- Balance Transfer/Debt Consolidation
- Special Events
- Health and Wellness
- Medical Emergencies
The Personal Loan offer is a non-collateral loan. It does not require the use of a property owned by the borrower as the collateral of the loan offer. Here are minimum and maximum loanable amounts under the offer:
- Minimum Loanable Amount — Php 10,000
- Maximum Loanable Amount — Php 2 million
The loan is payable for up to three (3) years in 6, 12,18, 24, 36 month installments. How about the interest rate? It is dependent on the chosen loan term. Here is a guide on the interest rates set by the bank under the BDO cash loan offer:
| Tenor | Factor Rate | Monthly Add-on Rate | Effective Rate/Annum |
|---|---|---|---|
| 6 | 0.179667192 | 1.30% | 26.27% |
| 12 | 0.095836960 | 1.25% | 26.63% |
| 18 | 0.068058532 | 1.25% | 26.76% |
| 24 | 0.054167533 | 1.25% | 26.58% |
| 36 | 0.040279967 | 1.25% | 25.98% |
Who are qualified to apply for the loan offer? It is best to check both the qualifications and the documentary requirements set by BDO Unibank in applying for the loan offer. There are different requirements set for the employed and self-employed individuals.
The BDO Personal Loan is specifically for the locally-employed and self-employed individuals. The bank has set a different offer for overseas Filipino workers (OFWs).
