Overseas Filipino workers looking for possible loan options from BDO Unibank, we have completed this guide for you. Whether you are planning to use the money to invest in a business, get a house, buy a car, or just take out a salary loan, we have listed the available BDO loans, requirements, and steps to apply. Please be guided accordingly.
The Kabayan Personal Loan is one of the most common loan options provided by Banco de Oro. This is just one of the various loan facilities offered by this bank, specifically for OFWs. If you have been banking with BDO and are interested in the other loan facilities they offer, make sure to read the following sections of this guide to learn more.
Table of Contents
Applying for a loan is one way you can gather funds for a project that you may have, whether it is buying a new car or home, starting a business, and so on. Of course, you would like to take out a loan only from a reputable (and regulated) financial institution, such as a bank. One of the top options for this purpose is Banco de Oro, or simply BDO.
BDO has positioned itself for enhanced balance-sheet strength and continued expansion into new markets through selected acquisitions and organic growth. BDO is the country’s largest bank in terms of consolidated resources, client loans, deposits, assets under management and capital, as well as branch and ATM network nationally, as of March 31, 2021.
In case you are wondering what are the loans you can get from BDO, please check out this list below:
BDO OFW Personal Loan has cheap interest rates and simple repayment terms. You can use it to finance any of your personal demands, such as house renovation, tuition payment, purchasing furniture, home appliances, gadgets, travel, debt repayment, any special occasions, or even a health emergency.
This credit is referred to as a BDO Personal Loan for OFW. A sizable proportion of Filipino nationals work in other nations. It is not feasible for these Overseas Filipino Workers (OFWs) to be physically there every time their families require financial assistance.
BDO Kabayan Personal Loans are the specific BDO personal loans for OFWs who want to get loans in the simplest way possible. There are two types of loans under this program:
With this loan facility, clients can easily apply to finance the purchase of a brand new or pre-owned car, whether for personal or business use.
Low Rates
Avail of their competitive rates and get loan approval within 24 hours.
To make monthly payments more manageable, select a loan term that works best for you. For a lower monthly amortization, you may opt to maximize the loan term.
BDO provides loan finance for the following home loan purposes, such as:
The BDO Term Loan is one of the bank’s business loans. You can apply for it to help your business grow by using it for the following specific purposes:
COLLATERAL AND SUPPORT DOCUMENTS
*Other documents may be required upon evaluation
Reimbursement
The following are typical BDO personal loan requirements:
The following documents are necessary to apply for a BDO personal loan:
For Salaried Employees:
– Copy of the latest Income Tax Return or BIR form 2316 signed by the employer’s authorized representative;
– Certificate of employment, latest full months payslip with compensation breakdown.
For Self-Employed/Professionals:
– Photocopy of ITR duly stamped by BIR;
– Copy of Audited Financial statement for the last two years;
– Documents of Registration of Business Name;
– Bank statement for the last three months.
OFWs can apply for the respective loans you need as detailed in the outline under each loan facility. In the absence of a representative to apply on your behalf in the Philippines, you can simply use their online application form pages available through their website at https://www.bdo.com.ph/personal/loans. Just make sure to follow the process from start to finish and a representative will reach out to you through your contact details to inform you of the status of your loan application.
Most banks will just recognize your status as an OFW and that will be the end of it. This is how the BDO Kabayan Program distinguishes itself from other banks’ personal loan offerings. The facility is intended exclusively for OFWs to make availment easier and more comfortable. In this manner, BDO can issue credit to those in need of emergency finances.
The minimum loan amount is Php 10,000.00, and the highest loan amount is Php 1,000,000.00. The loan amount is subject to bank approval and will be determined depending on the income documentation provided.
You have the option of repaying the loan over a period of 6, 12, 18, 24, or 36 months.
Processing Fee: P1,300 (Deducted from loan proceeds)
Late Payment Fee: 5% of the amount due or P300 whichever is higher
Returned Check Fee: P500 per returned check
Certification Request Fee: P100 per request
Installment Processing Fee*: 5% of the total outstanding principal balance or P300 whichever is higher
*For processing of full payment of outstanding balance before end of payment term
Payment can be made at any BDO branch countrywide by Auto Debit Arrangement (ADA) or Over-the-Counter (OTC).
Yes, however, there are fees and charges. Fees and charges are included in the table above.
Not quite confident yet on how to begin your loan application? Watch this video to get personalized tips and tricks from a fellow kababayan for taking out a loan from BDO.
In this video, Yana Amawan talks about the benefits and what makes BDO’s loan program different from other banks. She also gives us here a rundown of the requirements for a personal cash loan, the BDO Kabayan Loan, and the interest rates under these programs.
In this video posted by BDO Unibank via YouTube gives us an overview on how the SME Loan works and how it can help more Filipinos including OFWs realize their dreams of having their own business. Through the SME Loan, BDO may assist small firms in meeting their financial needs.
There you have it! Applying for an OFW loan BDO can be conveniently done online nowadays. Just make sure to gather all of the requirements and submit your application accordingly. And there shouldn’t be any issues with the processing whatsoever. If you have any specific concerns or queries regarding BDO’s loan facilities, you may visit their official website at www.bdo.com.ph to learn more.
BDO Corporate Center
7899 Makati Avenue, Makati City 0726, Philippines
Trunkline: (+632) 8840-7000
Email: callcenter@bdo.com.ph
BDO Contact Center
Metro Manila: (+632) 8631-8000
1800-10-631-8000 (PLDT)
1800-3-631-8000 (Digitel)
1800-5-631-8000 (Bayantel)
1800-8-631-8000 (Globelines)
AMEX: 1-800-10-8141700 (PLDT)
