Guide on BDO Kabayan Personal Loan Features & Requirements
BDO KABAYAN PERSONAL LOAN – The BDO Unibank has a cash loan offer personally crafted for overseas Filipino workers (OFWs).
Countless Filipinos are working in the different countries abroad. Most of these individuals are away from their families for the purpose of earning bigger than what they can earn in the Philippines so they can give their loved ones a comfortable life.
Overseas Filipino Workers (OFWs) are considered heroes not only of their families but of the nation as they bring in a lot of money. Thus, there are also entities that have crafted excellent offers that they can turn to in times of need.
One of these entities is the BDO Unibank which has the BDO Kabayan Personal Loan for the overseas Filipino workers (OFWs). It is a multi-purpose cash loan offer that has up to Php 2 million loanable amount for the unsecured loan.
- Minimum Loanable Amount — Php 10,000
- Maximum Loanable Amount — Php 2 million
The borrower can use the amount for the home improvement, vacation or travel, education, making personal purchase, medical emergencies, special events, health and wellness, etc. The loan is payable in 6, 12,18, 24, 36-month terms.
Who are qualified to apply for the BDO Kabayan Personal Loan? There are varying eligibility requirements among the Overseas Filipino Worker (OFW) and the seafarers and domestic helpers.
Overseas Filipino Worker (OFW)
- Filipino citizen or former Filipinos with or without dual citizenship
- at least 25 years old at the time of application and up to 65 years old at the time of loan maturity
- has at least two (2) years continuous employment contract
- has at least one (1) landline in either local or foreign residence or employment location, and beneficiary must have a landline
- earning a gross monthly income of at least ₱20,000 or its US$ equivalent
- with a good credit history
Seaman/ Domestic Helpers
- Filipino citizen or former Filipinos with or without dual citizenship
- at least 25 years old at the time of application and up to 65 years old at the time of loan maturity
- has at least three (3) years continuous employment contract
- earning a gross monthly income of at least ₱20,000 or its US$ equivalent
- with at least one (1) of beneficiary’s address located within BDO serviceable areas
According to BDO Unibank, in the case of seafarers, the manning agency must be accredited by Philippine Overseas Employment Administration (POEA). The bank limits the beneficiary to spouse or children, immediate family members like parents and siblings, and relatives up to 3rd degree of consanguinity.
Aside from BDO Unibank, another reputable entity with a multi-purpose cash loan offer is the Philippine National Bank. Are you interested about the PNB Personal Cash Loan?
