BDO OFW Cash Loan Ready To Make Your Dreams Come True

Guide on BDO OFW Cash Loan Features & Application

BDO OFW CASH LOAN – You can check here the details about the BDO Kabayan Personal Loan offer for overseas Filipino workers.

Are you a Filipino who is employed abroad? A seafarer? Or you know someone who is an OFW? Even with high compensation, it is completely understandable if you need some extra cash to push through with a project or respond to an unforeseen financial emergency. This is where BDO’s cash loan offer for OFWs is of big benefit.

BDO Unibank has set a multi-purpose loan offer not only for locally-employed and self-employed individuals but as well as overseas Filipino workers. Under the BDO OFW cash loan Kabayan Loan, the borrower may borrow up to P2 million.

The loan is payable in 6, 12, 18, 24, or 36 months. All loans are subject to the approval of the bank. With regards to the interest rates, here are the interest rates set by the bank based on the loan term:

Who are qualified to apply for the BDO OFW cash loan offer? There are varying eligibility criteria among the land-based OFWs, seafarers, and domestic helpers.

Land-Based 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

There are a few documents required by BDO Unibank in applying for the BDO OFW cash loan. Here’s a guide for the loan applicants:

Land-Based OFWs

• duly-accomplished BDO Kabayan Personal Loan Application Form
• 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
• six (6) months bank statements
• six (6) months remittance slips (optional)
• signed Automatic Debit Arrangement Form
• 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

Sea-Based OFWs

• duly-accomplished BDO Kabayan Personal Loan Application Form
• POEA Contract of Employment
• Seaman’s Book
• signed Automatic Debit Arrangement Form
• 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