Guide on BDO Term Loan Interest 2023 Implemented by Bank
BDO TERM LOAN INTEREST 2023 – Here are the interest rates implemented by BDO Unibank based on the fixing period.
Nowadays, a lot of businesses were able to achieve the phase of their target productivity due to the help of loan offers provided by banks and lending companies. One of the business loan providers in the Philippines is BDO Unibank.
BDO Unibank is one of the trusted and most popular banks in the Philippines. It offers savings and checking accounts, loans, credit cards, and several other financial services. Among their loan offers are business loans.
One of the business loan offers of the trusted bank is the BDO Term Loan Interest 2023. It is open for application to finance any of the following purposes:
- Purchase of new assets such as machines and equipment
- Acquisition of real estate properties
- Construction, repair and renovation of business facilities
Under the loan offer, there is a collateral requirement. Meanwhile, the bank provides a long list of options with regards to the accepted collaterals for the loan such as the following:
- House and lot
- Commercial Property
- Vacant Lot
- Condominium
- Townhouse
- Mixed Use Property (Residential/Commercial)
The loanable amounts under the BDO Business Term Loan 2023 were cited by the bank but the approved amount will be based on the assessment of the bank. With regards to the BDO Term Loan interest 2023, it depends on the fixing period.
| Fixing Period | BDO Term Loan Interest 2023 |
| 1 year | 7.00% |
| 2 years | 7.25% |
| 3 years | 7.75% |
| 4 years | 8.00% |
| 5 years | 8.25% |
The borrowed amount will remain under the BDO Term Loan interest until the account is fully-paid. For the loan applicant to qualify to the offer, he/she must be:
- at least 21 years upon the loan application
- 70 years old and below upon the loan maturity
There are also eligibility requirements for the business to be funded. Here is the criteria set by BDO Unibank:
- Sole Proprietorship, Partnership, Corporation
- Business is in profitable operation for at least 2 consecutive years
- Minimum annual gross sales of ₱1M
- Business is within a BDO serviceable area
To apply for the loan offer, the important move to begin with is to prepare the requirements for BDO Term Loan for business application. They must be submitted to a branch of the bank nearest the location of the business.