Guide on BDO Cash Loan for OFWs 2023 Application Process
BDO CASH LOAN FOR OFWS 2023 – Here is a guide on how to apply for BDO Unibank’s Kabayan Personal Loan offer for overseas Filipino workers.
Are you an overseas Filipino worker who is in need of some financial solutions? You might be trying to consider getting a bank loan. In the Philippines, one of the offers that you may turn to is the Kabayan Personal Loan by BDO Unibank.
BDO Unibank is one of the banks that have established a name in the banking field. It is popular and trusted and its offers meet the demand of countless Filipinos. Under its Kabayan Personal Loan which was carefully crafted for OFWs, you may obtain a financial solution without the need for a collateral or a guarantor.
With regards to the BDO Cash Loan for OFWs loanable amounts, the bank has posted the maximum borrowing amount allowed. The loan is payable in 6, 12,18, 24, 36-month terms. The interest rate under the BDO Kabayan Personal Loan depends on your chosen loan term.
There is an easy process in applying for the BDO Kabayan Personal Loan offer. Here are the steps that you may follow to ensure a smooth application to the offer:
Step 1 — Are you qualified?
Check the eligibility requirements set by BDO Unibank under the Kabayan Personal Loan offer. The qualifications actually depend if you are a land-based OFW, a seafarer, or a domestic helper.
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
Step 2 — Prepare the requirements.
To apply for the BDO cash loan for OFWs 2023, there are documents that you must prepare and submit to the bank. The documentary requirements for BDO Cash Loan for OFWs depend if you are sea-based or land-based.
Step 3 — Submit your loan application.
Go to the nearest branch of BDO Unibank and submit your loan application. Wait for a call from the bank for the interview. The bank will also notify you about the status of your loan application.