Guide on How To Apply for BDO Cash Loan for OFWs & the Requirements
HOW TO APPLY FOR BDO CASH LOAN FOR OFWs – Here are the steps in applying for the BDO Kabayan Personal Loan offer.
Have you heard about the cash loan offer of BDO Unibank for overseas Filipino workers (OFWs)? You might want to apply for the loan to get that dream house constructed soon, to finally be able to drive your dream car, or to achieve any other goal or address a financial need.
Whether you have an account to be used as a collateral, you may apply to the BDO Cash Loan offer which is offered in two (2) variants — with a collateral or secured and without collateral or unsecured.
Under it, an OFW may borrow as much as Php 2 million and repay it for up to 36 monthly amortizations. Thus, there is really an option for light monthly installments. The bank boasts its offer with low interest rates that can be as low as 0.78% monthly add-on rate.
There are only few steps involved on how to apply for the BDO cash loan offer for OFWs. Here is a guide:
Step 1 — Check the qualifying requirements.
You must be a Filipino citizen or with a dual citizenship and at least 25 years upon the loan application but not more than 65 years old upon the loan maturity. You must have a stable source of income as well
Step 2 — Prepare the required documents.
Make sure to gather all the documents required by BDO Unibank in applying for the loan offer. It depends if you are a land-based employee abroad or a seafarer.
Step 3 — Submit your loan documents.
Visit a branch of BDO Unibank and submit your requirements to file your loan application. The bank will update you regarding the status of your loan application.
With regards to the possibility of filing another cash loan while having an existing loan, BDO allows it provided that the existing Personal Loan has been paid for six (6) months and is in good credit handling. This is subject to the approval of the bank.
