Guide on BDO Personal Loan Features & Requirements
BDO PERSONAL LOAN – You can check here the cash loan offer of BDO Unibank that is ready to meet your financing needs under low interest.
Truth be told that, in the Philippines, one of the biggest and most popular banks is the BDO Unibank. It is in operation for decades now since 1976 providing the Filipinos and as well as foreigners with exceptional finance offers and services.
BDO has more than 1,400 branches in the country thus its offers are really accessible to the public. It has bank accounts of different types, credit cards, loans, and a lot more. One of its loan offers is the BDO Personal Loan which is undeniably a popular offer that has helped countless Filipinos meet their financial needs.
The BDO Personal Loan offer was crafted to meet the financing needs of people under low interest rates and easy payment options. The offer is open for both salaried and non-salaried individuals.
In the case of employed individuals who want to apply for the loan offer, the Personal Loan is open for those who are working within the country. The following are the loanable amounts under the offer:
- Minimum Loanable Amount — Php 10,000
- Maximum Loanable Amount — Php 2 million
Under the BDO Personal Loan offer, the loan is payable from six (6) months up to 36 months. With regards to the interest rates, the bank has generously provided details about the monthly add-on interest rate and the effective rate per annum based on the loan term.
| Tenor | Factor Rate | Monthly Add-on Rate | Effective Rate/Annum |
|---|---|---|---|
| 6 | 0.179667192 | 1.30% | 26.27% |
| 12 | 0.095836960 | 1.25% | 26.63% |
| 18 | 0.068058532 | 1.25% | 26.76% |
| 24 | 0.054167533 | 1.25% | 26.58% |
| 36 | 0.040279967 | 1.25% | 25.98% |
With regards to the qualifications in applying for the multi-purpose cash loan offer of BDO Unibank, there are varying eligibility requirements depending if the loan applicant is locally-employed or self-employed. Here’s a guide:
Locally-Employed Applicants
- a Filipino citizen or a foreigner who is a resident of the Philippines
- at least 21 years old at time of application
- not more than 60 years old upon loan maturity
- earning a minimum gross fixed monthly income of ₱15,000
- a regular employee
- has one (1) landline number in either residence or place of work, or mobile number (postpaid or prepaid)
- residing within any area where a BDO branch is located
Self-Employed Applicants
- a Filipino citizen or a foreigner who is a resident of the Philippines
- at least 21 years old at time of application
- not more than 60 years old upon loan maturity
- earning a minimum gross fixed monthly income of ₱35,000
- has a business that operates for at least two (2) years already
- has one (1) landline number in either residence or place of work, or mobile number (postpaid or prepaid)
- office address must be within any area where a BDO branch is located
There are also varying documentary requirements among the salaried and non-salaried loan applicants. The loan processing will only start after the submission of a complete set of documents required under the loan offer.
BDO Unibank has a different multi-purpose cash loan offer for Filipinos who are working abroad — the BDO Kabayan Loan. It has a different set of features.
