Balikbayad Ofw Loan Review Philippines legit? requirements? interest

Balikbayad Ofw Loan is a website that allows Filipinos working abroad to have the opportunity to be approved for an online loan of up to 100,000 pesos with low interest rates to quickly solve their financial needs.

What are the loan conditions? What is the fastest sequence of steps to apply for a loan? Retailasiaonline.com will provide specific information in the article below.

Summary of Balikbayad Ofw Loan

What is Balikbayad ofw loan?

Balikbayad ofw loan is an online loan that provides financial support for OFWs – Filipino workers abroad, developed by First Digital Finance Corporation. The company has been registered at the SEC since 2015. The loan amount can be from 20,000 to 100,000 pesos, payable in installments from 3 to 18 months.

Pros of Balikbayad ofw loan

Paghiram Loan review provides cash loans with many advantages:

• Online lending activities are reputable, legal, flexible and convenient.
• Register 100% online, fast loans anytime, anywhere.
• There are 2 different loan packages for seaman and land based OFW.
• Simple loan procedures, no proof of income, no need to mortgage assets.
• No hidden fees, no deductions from the loan approval amount, incentives for paying the loan on time, no early payment fees.
• Automatic approval in 24 hours, with automatic payment reminders via email or SMS.
• Personal data will be encrypted for absolute security and will not be shared with third parties.

Cons of Balikbayad ofw loan app

Balikbayad ofw loan app review some notable disadvantages are:

• There must be one person who is a co-borrower.
• Must have documents proving employment.

Balikbayad ofw loan interest rate

Balikbayad ofw loan has competitive interest rates.

• With the loan package for Seaman, you will be able to borrow a minimum of 20,000 pesos to a maximum of double your current salary for a period of 3 to 8 months with an interest rate of 4.08%/month.
• With the loan package for OFWs, borrowers will have to pay in installments over a period of 6 to 18 months with an interest rate of only 5.75%/month.

Example of Balikbayad ofw loan interest rate calculation

Balikbayad ofw loan Ph approval 50,000 for 10 months with interest rate 5.75%/month.

• The amount of interest payable after 1 month is: 50,000 x 5.75% = 2,875 pesos.
• The principal amount to be paid after 1 month is: 50,000 : 10 = 5,000 pesos
• Total amount to be paid in 1 month is: 5,000 + 2,875 = 7,875 pesos.

Balikbayad ofw loan requirements

Conditions for applying for a Balikbayad ofw loan are:

• Have Philippine nationality, from 21 to 59 years old.
• Have a valid owner ID (Passport, TIN ID, driver’s license, unified multi-purpose ID).
• Land based OFWs need a labor contract, electricity bill, certificate of work abroad. airline tickets.
• Seaman requires seafarer registration certificate, overseas employment certificate, labor contract, electricity bill, and airline ticket.
• Documents proving the relationship between the borrower and co-borrower.

Guide to register Balikbayad ofw loan application Step-by-step

Instructions on how to apply for a quick loan at Balikbayad ofw loan:

Step #1: Choose loan limit and term

Visit the homepage of Balikbayad OFW loan.

Choose a loan package for Land based OFW or seaman.

Choose the loan limit and installment period according to your financial ability.

Step #2: Fill in basic information

Fill in personal information such as living area, job information, name, loan purpose, comaker.

Tick ​​to agree to the loan terms and conditions and Submit.

Step #3: Submit loan application

Submit the loan application and wait for Balikbayad staff to contact you to approve the loan.

Read more: How to apply Owwa loan for OFW?

Reviews Balikbayad ofw loan app feedback

Balikbayad OFW loan review is rated 4.3 stars from clients in Philippines. It is legit, low interest rate and simple requirements.

Balikbayad ofw loan allows Filipinos working abroad to receive financial support quickly with simple procedures and high limits.

Balikbayad ofw loan repayment

The Balikbayad ofw loan payment method is to transfer money directly to the checking account of the lending company at BDO, BPI, AUB bank… You will receive a payment reminder via email or SMS 7 days before the payment deadline.

Compare Balikbayad ofw loan app Philippines with other loan apps

Sources: Refer to Sate Bank reporting and research.

Balikbayad ofw loan customer service

Balikbayad ofw loan complaints are received through contact channels such as:

• Address: 9F, TM Kalaw Center, 667 TM Kalaw Ave, Ermita, Manila, Philippines.
• Hotline: +63 2 5310 1535, Globe: +63 995 429 6450, Smart: +63 918 345 8003.
• Email: info@balikbayad.ph
• Work time: Mon – Fri, from 8am to 7pm and Saturday from 9am to 2pm

Read more:

• Landbank loan for OFW

FAQs

Here are some frequently asked questions about Balikbayad ofw loan service:

Is Balikbayad ofw loan legit?

Balikbayad ofw loan is provided by a team of financial technology experts from First Digital Finance Corporation (FDFC). The company is SEC registered with registration No.CS201516347 and certificate of Authority to operate as a financing company No.1101. The company is certified to operate legally, reputablely, comply with legal regulations and protect personal data.

Is Balikbayad ofw loan harassment?

Balikbayad ofw loan has been operating since 2015, licensed to operate legally in the Philippines. For nearly 10 years of operation, the lender has not had any behavior that harasses or annoys customers. Customers who have borrowed before are satisfied with the quality of Balikbayad’s online loan service.

How to make Balikbayad ofw loan complaints?

Balikbayad ofw loan has its head office at 9F, TM Kalaw Center, 667 TM Kalaw Ave, Ermita, Manila, Philippines. All questions and requests for support regarding loan services will be received via hotline +63 2 5310 1535 and phone number +63 995 429 6450 (Globe), +63 918 345 8003 (Smart).Customer care email. : info@balikbayad.ph

In conclusion – Should you apply to Balikbayad ofw loan app?

Balikbayad ofw loan allows land based OFWs and seaman to apply for a loan online and receive an amount of up to 100,000 pesos, payable over a period of 3 to 18 months with an interest rate of only 0.16%/day.

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