Guide on BDO Fees and Charges Deducted under Personal Cash Loan
Here are the BDO fees and charges that are deducted by the bank from the Personal Cash Loan proceeds of the client.
Are you planning to apply for the BDO Personal Cash Loan offer? It is a multi-purpose loan offer that you can turn to to slash several goals at the same time. You can have your car repaired, repaint your room, make minor business improvements, purchase that latest phone you wish to have, etc.
Under the BDO Personal Cash Loan offer, there are minimal BDO fees and charges implemented by the bank. Here are the fees that may be deducted from your loan proceeds as well as the charges in case you missed a payment or request for a certification:
- Processing Fee – Php 1,300.00
- Documentary Stamp Tax Fee – ₱1.50 for every ₱200 approved loan amount or fraction thereof, whichever is higher. Applicable for approved loan amount greater than ₱250,000 or for business purpose
- Late Payment Fee – 5% per month of the unpaid principal
- Penalty Fee – 5% per month of the unpaid amount due
- Certification Request Fee – ₱100 per request
- Installment Processing Fee – 5% of the outstanding principal balance, or ₱300, whichever is higher. For processing of full payment of outstanding balance before end of payment term.
The BDO Personal Cash Loan is one of the multi-purpose loan offers in the Philippines with a high maximum loanable amount. Its eligibility also covers a wide range making the offer accessible to thousands of people from different fields.
If you want to stay away from late payment penalties during the repayment of the loan, you have your repayment set under an Auto-Debit Arrangement or ADA with your BDO Current or Savings Account. In this way, you just have to make sure that there is a sufficient amount in your bank account and you don’t have to worry anymore about your due.