Guide on AUB Seafarer’s Loan Features & Application
AUB SEAFARER’S LOAN – You can check here the features of the multi-purpose cash loan offer of the Asia United Bank for seafarers.
Nowadays, there are a lot of entities that seafarers may turn to in times of financial needs. Among these are banks that offer seafarer loans. One of them is the Asia United Bank.
More popularly called AUB, the Asia United Bank is one of the trusted banks in the country with millions of clients across the nation. It has a wide range of finance products and services including the following:
- Deposit Accounts (Savings, Current, Time Deposit)
- Loans (Motor Vehicle Loans, Home Loans, Salary Loans, Commercial Loans)
- Investment Products
- Cash Management Services
- Credit Cards
With regards to the AUB Seafarer’s Loan, it is a multi-purpose cash loan offer that was designed to help seafarers meet their short-term financial needs. Under the loan offer, the maximum loanable amount is Php 500,000.
The Asia United Bank does not require an advanced payment under the loan offer. It also does not require a co-maker while boasting having low interest rate which is dependent on the prevailing interest rate implemented by the bank at the time of the loan application.
The loan is payable for up to 10 months. To qualify for the AUB Seafarer’s Loan, here are the qualifications that the loan applicant must meet:
- a Filipino citizen
- at least 21 years old at the time of the loan application but not more than 60 years old at the time of the loan maturity
- must have completed at least one employment contract at the time of loan application
- must open an account with AUB
- earning a minimum gross salary income of USD $800
Aside from the eligibility requirements, there is also a short list of documentary requirements in applying for the AUB Salary Loan offer. Here are the documents required by the bank in applying for the loan offer:
- Completely filled out and signed Application Form
- Photocopy of Employment Contract with POEA stamp
- Photocopy of Passport and Seaman’s Book
- Photocopy of Seafarers Registration Certificate (SRC) or Worker’s Information Sheet (WIS)
- Allotment Arrangement certified by the company
- Plane ticket or Certificate of Departure issued by manning agency
- Authority to deduct from AUB account
Aside from the Asia United Bank, another entity that seafarers may turn to for loans is the Overseas Workers Welfare Administration or OWWA. There is an OWWA loan offer for OFWs who want to put up their own business or grow an existing one.
