BDO OFW Loan Online Review Kabayan: requirements, calculator (2024)

BDO OFW loan provides convenient online lending services to customers in the Philippines. Examine the ease of use and efficiency of online platform for this loans.

In this article at retailasiaonline.com, We explain the important requirements, interest rate as well as the ultimate guides for you to apply for 2024.

Let’s get strarted!

Summary of BDO OFW loan

What is BDO OFW loan?

BDO OFW loan is brief for the expense to begin individual reserve funds account. I could be a huge bank within the Philippines that has numerous keeping money administrations, such as reserve funds accounts. The expense to begin an individual investment funds account at BDO can be diverse for each sort of account.

Who is qualified for BDO lending for OFW Philippines?

Foreigner or Filipino citizen residing in the Philippines for longer than two (2) years. Must be 21 years old at the time of application but no older than 70 years old at the time of maturity.

Minimum annual gross income P 120, 000 for salaried employees P 400, 000 for self-employed  professionals. At least one landline must be present at either the residence or the office.

The residence or business must be located within the BDO personal loan for OFW.

Additional Self-Employed application requirement: Must be a sole proprietor or majority portion owner of a company that has been in operation for at least two years.

Professionals must have been in private practice for at least one  year in order to apply.

Here are some common conditions for a BDO OFW loan:

• The individual applying for the advance must be at slightest 21 a long time ancient when they do so and no more than 70 a long time ancient when the advance is due.
• Either the individual could be a Filipino citizen or they are from another nation and have lived within the Philippines for at slightest two years.
• The candidate must make at slightest PHP 180,000 a year as a paid worker or PHP 400,000 a year as a self-employed professional.
• They have to be have worked or claimed a commerce for at slightest two years.
• You require at slightest one landline number, either at domestic or at work, or a cell phone number. The address of your domestic or put of trade ought to be in a city that incorporates a BDO bank advance for OFW.

There are a few more requirements that must be met in order to get the BDO Kabayan Advance. A wire connection is one of these things that either the home or office must have.

• If you want to apply for a BDO personal loan, you may need the following:
• For people who get paid, proof of salary: A copy of the most recent Salary Charge Return or BIR form 2316, signed by an official company representative.
• Proof that you worked, most likely a pay stub for the whole month that breaks down how much money you made.
• As an expert or self-employed person, A copy of your ITR that has been properly marked by the BIR.
• A copy of the reviewed financial statements from the last two years.

Read more: How to apply Owwa loan for OFW?

How to apply loan in BDO for OFW

Here are some steps to apply for BDO OFW loan:

Step #1: Visit the BDO Website

Begin by progressing to the official BDO site to memorize approximately the distinctive sorts of advances that OFWs can get and what they require in arrange to qualify for them.

Step #2: Choose the Loan Type

Find the type of loan that fits your wants the best, whether it’s a personal loan, a home loan, or something else.

Step #3: Prepare Required Documents

Get together the critical papers, which might incorporate confirmation of personality, verification of pay, a commerce contract, and other critical monetary papers.

Step #4: Submit Application

Fill out the loan application form and return it with the relevant documentation. BDO personnel will walk you through the process and give you with any extra information you require.

Step #5: Wait for Approval and Disbursement

After you put in your data, wait for BDO to plan and check your credit. There are some rules and the money will be sent to you once it has been verified.

Remember that these are only broad guidelines; particular requirements may vary depending on the type of loan and individual circumstances. Always contact BDO directly for the most up-to-date information and advice on applying for a loan as an OFW.

Read more:

• Landbank loan for OFW
• BPI ofw loan

BPI OFW loan assistance

Here are some ways to contact with BDO OFW loan online:

BDO Corporate Center:

• Address: 7899 Makati Avenue Makati City 0726, Philippines Trunkline: (+632) 8840-7000
• Phone: (+632) 8631-8000
• Mail: callcenter@bdo.com.ph

FAQs

Is there a BDO OFW loan in the Philippines?

Overseas Filipino pro (OFW) credits are open inside the Philippines. These credits are arranged to help OFWs fulfill their budgetary commitments at residential, such as lodging, coaching, and other costs. Headway Bank of the Philippines and Security Bank are some of the first unmistakable BDI household developments for OFW in the Philippines.

How to avail BDO loan for OFW?

OFWs must be utilized abroad for at slightest one year and win at slightest USD 500 per month to qualify for the advance. They must moreover yield confirmation of business, such as a work contract or pay stubs, and concur to BDO OFW advance necessities and conditions of the credit.

Conclusion

Customers can a lot of benefits from BDO OFW loan online in the Philippines. It is a simple process that you need to  well-prepared with necessary documents. Interest rates may vary depending on the loan type and market conditions.

Always verify that you meet the relevant criteria and supply the required papers for a successful loan application procedure.