Guide on BDO Fees and Charges under the Personal Cash Loan Offer
BDO FEES AND CHARGES – Here are the penalties that BDO Unibank has set under certain factors concerning its Personal Cash Loan offer.
When it comes to loan providers, undeniably, there are a lot in the Philippines. However, if you want to borrow money under a crystal clear transaction, it is best to do it with entities like banks. One of the giants in the banking field in the country is BDO Unibank.
BDO is one of the leading banks in the nation for decades now. It has savings and checking account offers, credit cards, loans, and several other financial services. Millions of Filipinos inside and outside the country trust BDO when it comes to their bank transactions.
What many people love about this giant banking company is that it is transparent even with its list of BDO fees and charges. Whether or not the charges will cause their clients to hesitate from taking their offers, it has posted a lot of details thus clients will be fully aware/
One of the offers of the bank with its own set of BDO fees and charges is the Personal Loan offer. It is a multi-purpose cash loan offer designed to help meet the short-term financial needs of locally-employed and self-employed individuals.
You can check the details ahead on how much you may borrow under the BDO Personal Cash Loan as well as the interest rates under the BDO cash loan. The latter is dependent on your chosen loan term. The loan is payable for up 36 months.
With regards to the BDO fees and charges under the Personal Cash Loan offer, here are some information you must not forget:
- Processing Fee – ₱1,300 (Deducted from the loan proceeds)
- Documentary Stamp Tax Fee – ₱1.50 for every ₱200 approved loan amount or fraction thereof, whichever is higher. Applicable for approved loan amount greater than ₱250,000 or for business purpose (regardless of the amount).
- Penalty Fee – 5% per month of the unpaid amount due
- Late Payment Fee – 5% per month of the unpaid principal
- Installment Processing Fee – 5% of the outstanding principal balance, or ₱300, whichever is higher. For processing of full payment of outstanding balance before end of payment term.
- Certification Request Fee – ₱100 per request
In applying for the BDO loan offer, one of the basic steps is preparing the requirements for BDO Cash Loan application. It will depend if you are locally-employed or self-employed.
