Requirements for BDO Cash Loan for OFWs 2023 You Must Prepare in Applying

Guide on the Requirements for BDO Cash Loan for OFWs “Kabayan Personal Loan”

REQUIREMENTS FOR BDO CASH LOAN FOR OFWS – Here are the documents needed in applying for the BDO Kabayan Personal Loan.

Are you working abroad but you are planning to finance a project? You may turn to a bank loan. One of the entities in the Philippines with a loan offer that was specifically designed for overseas Filipino workers (OFWs) is the BDO Unibank.

BDO Unibank is one of the trusted banks in the Philippines. It is also one of the biggest banking entities in the country. Aside from the BDO Personal Cash Loan 2023 which is open for Filipinos in the country, it also has the BDO Kabayan Personal Loan that is for overseas Filipino workers (OFWs).

The Kabayan Personal Loan is a multi-purpose cash loan offer that can be applied for to address various financial needs. To qualify for the loan offer, the loan applicant must meet the following requirements for BDO Cash Loan for OFWs 2023:

Overseas Filipino Worker (OFW)

• 25 years old and above at the time of application
• 65 years old and below at the time of loan maturity
• Filipino citizen or former Filipinos with or without dual citizenship
• has at least two (2) years continuous employment contract
• at least one (1) landline in either local or foreign residence or employment location, and beneficiary must have a landline
• earning at least ₱20,000 or its US$ equivalent as gross monthly income

Seaman/ Domestic Helpers

• 25 years old and above at the time of application
• 65 years old and below at the time of loan maturity
• Filipino citizen or former Filipinos with or without dual citizenship
• has at least three (3) years continuous employment contract
• at least one (1) landline in either local or foreign residence or employment location, and beneficiary must have a landline
• earning at least ₱20,000 or its US$ equivalent as gross monthly income
• with good credit history
• at least one (1) of beneficiary’s address (residence or employment/business) should be located within BDO serviceable areas. Beneficiary are limited to spouse or children, immediate family members (parents or siblings), and relatives up to 3rd degree of consanguinity
• Seafarers’ manning agency must be Philippine Overseas Employment Administration (POEA)-accredited

With regards to the documentary requirements for BDO Cash Loan for OFWs 2023 application, the lists vary depending if you are a land-based OFW or a sea-based OFW. If you are a land-based OFW, prepare and submit the following documents:

• any of the following government-issued IDs:
  • Preferred IDs:
    • Driver’s License
    • Philippine Passport
    • TIN ID
    • SSS ID
    • GSIS eCard
  • Other Acceptable IDs:
    • UMID Card
    • PhilSys ID
    • Voter’s ID
    • Philippine Postal ID
    • PRC ID
    • Philhealth ID
• last six (6) months Certificate of Employment or current employment contract (if applicable); OR [should be one line only]
• Latest one (1) full month payslip; AND
• six (6) months bank statements
• six (6) months remittance slips (optional)
• signed Automatic Debit Arrangement Form

For sea-based overseas Filipino workers (OFWs) or seafarers, here are the documents that you need to prepare in applying for the BDO Kabayan Personal Loan:

• any of the following government-issued IDs:
  • Preferred IDs:
    • Driver’s License
    • Philippine Passport
    • TIN ID
    • SSS ID
    • GSIS eCard
  • Other Acceptable IDs:
    • UMID Card
    • PhilSys ID
    • Voter’s ID
    • Philippine Postal ID
    • PRC ID
    • Philhealth ID
• POEA Contract of Employment
• Seaman’s Book
• signed Automatic Debit Arrangement Form