Guide on Landbank OFW Loan Interest Rate For Interested Applicants
LANDBANK OFW LOAN INTEREST – Here is a guide on the interest rate implemented by the Landbank of the Philippines on its business loan offer to overseas Filipino workers (OFWs).
A lot of overseas Filipino workers or OFWs reached the end of their employment contract abroad without having to put up another source of income. Usually, this scenario leads the family back to debts.
It is really important to find another source of income apart from your employment abroad despite that you’re earning in foreign currency and the amount you can get. The world can change fast and the COVID-19 pandemic is a proof of it.
Many people who decided not to return abroad anymore put up a business. To some, it is an alternative source of income during their vacation in the Philippines.
Do you need some capital to start your own business? You may apply to the business loan offer of Landbank to OFWs. It is open for both individual and group applicants.
The applicant must be certified by the Overseas Workers Welfare Administration or OWWA. Also, the applicant must have attended the capacity building program.
You might be wondering about the loanable amount under this loan offer. You may visit – LANDBANK OFW LOAN – How Much You Can Borrow Under this Loan.
With regard to the Landbank OFW Loan interest rate, according to the government bank, it will implement 7.5% per annum. It is applicable to both short and long term loans.
According to Landbank, the said 7.5% Landbank OFW Loan interest rate is fixed. The repayment for short term loans is up to one (1) year while the term loan is up to seven (7) years.
Do you want to apply for this loan offer? You may visit – LANDBANK OFW BUSINESS LOAN – How To Apply For This Loan Offer.
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