Guide on BPI Seafarer Loan Requirements for Application
Here are the requirements in applying for the Seafarer Loan offer of the Bank of the Philippine Islands, more popularly called BPI.
Nowadays, there are entities that have loan offers that are exclusive for a specific group of people. One of these is the Bank of the Philippine Islands or more popularly called BPI, one of the most trusted banks in the country.
Aside from its Personal Loan offer, BPI has a special loan offer for seafarers. It is ready to help seafarers in financing their home renovation, business, their children’s education, and a lot more.
In applying for the loan offer, there are BPI Seafarer Loan requirements that must be submitted. The set of documents needed varies depending if the borrower is an agency-based applicant, directly hired, or an allottee.
For Agency-Based Applicants
- one (1) government issued ID bearing photo
- proof of income:
- latest and unexpired signed POEA contract
- employment contract with boarding date
For Direct Hires
- one (1) government issued ID bearing photo
- latest three (3) months proof of remittance
- latest and unexpired POEA-validated information sheet OR latest POEA Overseas Employment Certificate (OEC)
- Latest Employment Contract
For Allottee
- one (1) government issued ID bearing photo
- proof of income
- proof of remittance OR latest bank statement where the remittance is credited
- latest and unexpired POEA-validated Information Sheet OR Latest Employment Contract OR Consularized COE
The Bank of the Philippine Islands boasts fast loan processing under the offer. With regards to the loan term, the loan is payable in 12, 18, 24, 30, or 36 monthly installments. The loan term must be one (1) month shorter compared to the job contract of the borrower.