Here’s what you need to know about the BDO Kabayan Personal Loan.
BDO KABAYAN PERSONAL LOAN – Here’s what every Overseas Filipino Workers (OFWs) must know about the BDO Kabayan Personal Loan – Secured.
The BDO Kabayan Personal Loan – Secured is designed for clients who are working abroad. It has peso or dollar time deposit and peso or dollar savings account.
QUALIFICATIONS for APPLICATION:
- Must be an OFW with an overseas working experience of two to three consecutive years with a minimum salary of Php 10,000.00 per month.
- Domestic helpers, seaman or unskilled workers must be Filipino as a required citizenship.
- At least one landline at your residence or business.
- The minimum deposit requirement is P15,000 or its dollar equivalent.
BENEFITS:
Flexible loan amounts
- Minimum of P10,000
For Secured:
- For Peso account, maximum of 90% of the deposit account balance
- For Dollar account , maximum of 80% of the deposit account balance; the prevailing buying rate shall be used to determine peso equivalent.
Fixed monthly payments – pay the same amount every month with any of the following flexible payment terms:
- 3 months (for Unsecured)
- 6 months
- 12 months
- 18 months
- 24 months
- 36 months
BASIC REQUIREMENTS:
- Automatic Debit Arrangement Form (signed by OFW)
- Authorization letter for beneficiary (signed by OFW)
- Information form of the beneficiary; and others to be required during credit evaluation
***Approval duration usually takes one to two weeks.
***BDO does not impose penalties for early settlement or late payment, however, for good credit, you must diligent in paying on time.
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Source: BDO / OFW Community
