List of BDO Personal Loan Interest 2023 Applicants Must Be Aware Of
BDO PERSONAL LOAN INTEREST 2023 – Here is a guide on the interest rate implemented by BDO Unibank under its multi-purpose cash loan offer.
The BDO Unibank is one of the most popular banking entities in the country. It has several offers to the public including checking and savings accounts, credit cards, loans, and other financial services.
One of the loans offered by the BDO Unibank is the Personal Loan, a multi-purpose cash loan offer. It is a non-collateral loan offer that was crafted to help provide financial solutions to the short-term financial needs of clients.
To qualify for the loan offer, the borrower must meet the eligibility criteria set by the bank depending if he/she is employed of self-employed. For locally employed loan applicants, here are the qualifications:
- at least 21 years old at the time of application
- 60 years old and below upon the loan maturity
- a Filipino citizen or a foreigner who is a resident of the Philippines
- earning a minimum gross fixed monthly income of P15,000
- a regular employee
- has one (1) landline number in the place of residence or work / mobile number
- residence or office address is within the service area of BDO Unibank
The bank has set a different eligibility criteria for self-employed loan applicants. Here are the qualifications in applying for the loan offer:
- at least 21 years old at the time of application
- 60 years old and below upon the loan maturity
- a Filipino citizen or a foreigner who is a resident of the Philippines
- earning a minimum gross fixed monthly income of P35,000
- running a business that is operational for at least two (2) years already at the time of the loan application
- has one (1) landline number in the place of residence or work / mobile number
- residence or office address is within the service area of BDO Unibank
With regards loanable amount, the approved amount is based on certain factors including the capacity of the loan application. Meanwhile, the bank has posted the range of loanable amount under the BDO Personal Loan 2023 offer.
With regards to the BDO Personal Loan interest 2023, it depends on the loan term. The bank has provided the details including the factor rate, the monthly add-on rate, and the effective rate per annum.
| 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% |
The BDO Personal Loan interest 2023 is implemented until the loan is fully-paid. To apply for the loan offer, there are requirements for BDO Personal Loan 2023 application that should be submitted. It will take a few working days for the bank to process the loan application.