Loans

BDO Asenso Kabayan Personal Loan Unsecured

• Product Description
  CLG Personal Loan for OFW is a multi-purpose, non-collateral loan for individuals with fixed income and paid through monthly amortization at a fixed interest rate and period.
• Product Features

  Kabayan Unsecured Personal Loans

  Multipurpose - use it for various purposes such as:

  Tuition/ Education

  Emergencies (medical, memorial,etc.)

  Appliances/Furniture/Electronic Gadgets

  Vacation/Travel

  Special Events (weddings, anniversaries, etc.)

  Balance Transfer/Debt Consolidation

  Personal Investments (business, insurance, etc.)

  Car Repairs/Upgrades

  House Renovation/Upgrades

  Lot Down Payment

  Prevailing rate upon loan application

  Fixed Monthly Payments - pay the same amount every month with any of the following flexible payment terms:

  6 months

  12 months

  18 months

  24 months

  36 months

  Loan proceeds can be received either in Credit to BDO account or Manager's Check

  Applicant shall be the OFW only

  Re-availment Feature or TOP-UP Loan

  Existing personal loans with good credit standing may qualify for re- availment/top up loan.

  Loan Amount

  Minimum of 10K, maximum of 500K

• Application and Processing Guidelines

  GENERAL CREDIT CRITERIA

  CRITERIA	DESCRIPTION
  AGE	25 years old upon loan application to 65 years old upon loan maturity
  MINIMUM MONTHLY INCOME	Gross monthly income (GMI) of P10K or its USD equivalent
  CITIZENSHIP	Foreign based Filipinos / OFWs
  TELEPHONE	Has at least one (1) landline at either local or foreign residence or employment location.
  TRADING AREA	Beneficiary must be living or working within BDO serviceable areas (30 km radius from any BDO branch)
  EMPLOYMENT	>=2 years continuous employment/employment contract 24 months straight contract to 1 employer >=1 year with previous employer plus current employer tenure should total 2 years employment Multiple contracts for >=2 consecutive years (e.g. 2005-10 months, 2006-8 months)

  
  

  SPECIFIC CRITERIA

  CRITERIA	UNSECURED PL
  EMPLOYMENT	Same as general criteria
  MINIMUM MONTHLY INCOME	Same as general criteria
  CREDIT HISTORY	No adverse finding from BAP-NFIS and internal negative file check with the Bank

  
  

  SPECIFIC CRITERIA FOR SEAFARERS (UNSECURED)

  PROGRAM	AK Superlite
  AGE	25 years old upon loan application up to 65 years old upon loan maturity
  CITIZENSHIP	Foreign based Filipinos/ OFWs
  EMPLOYMENT	3 years continuous employment/employment contract
  TELEPHONE	Has at least (1) landline at either local or foreign residence or employment location. The beneficiary has at least (1) landline.
  MANNING AGENCY QUALIFICATION	Not applicable
  MINIMUM MONTHLY INCOME	P20K or its USD equivalent
  CREDIT HISTORY	No adverse finding from BAP-NFIS and internal negative file check with the Bank

  
  

  LOAN MECHANICS

  LOANABLE AMOUNT	Minimum of P20K Maximum of P500K
  LOAN TENOR	6 to 36 months For contract-based employees, loan must be co-terminus with contract. Note: For open ended contracts (contracts with no expiry date), maximum term shall be 24 months

  Acceptable Trading Areas – applicant must have an address within 30km. radius of any BDO branch

  DOCUMENTARY REQUIREMENTS
  

  1. Pre-approval

  Document	Specifics
  1. Application Form	Completely filled up and signed by applicant
  2. Valid ID, any one of the following: Company ID Passports Driver's License PRC/Voter's/Postal ID SSS/GSIS/TIN	UNEXPIRED Must bear the same company name as declared in application form Must bear the same signature as indicated in the application form Must contain clear and legible information on the applicant Following info must be readable: Company Name, Name of applicant and signature
  3. Proof of Income, any     one of the following: a. Last 6 months Certificate of Employment (COE) b. Current employment contract c. Payslips d. For immigrants, latest Individual Tax Return or its equivalents e. Earning Statements (one full month) f. W2 (latest copy)	Must be original, if photocopy, should be signed by TRU Expat with 'seen original document'. Must contain the following information: Name and/or official logo of the company Date of issuance Name of employee Employee details : Position, Date Hired or Tenure, Gross Monthly Salary/Annual Salary (bonuses and breakdown of compensation, if any). Signed by authorized signor from HRD/Acctg/ Finance/ Admin Office  Must contain the following information on the payslips/earning statements:    Name of Employer and Employee    Coverage Date (Salary Cut-off)    Basic Salary and Net Pay Note: For Branch/Outlet/Sub-Office Branch Manager or Head/Immediate Supervisor
  4. Proof of Remittance for the last six (6) months or any qualified equivalents (if applicable) : a. Remittance         receipts/slips b. Bank Passbook c. Bank Statements	Must contain clear and legible the following information on the remittance slips or passbook/bank statements: Name of applicant Name of recipient/beneficiary of remittance Amount of regular remittance and/or credits Date remitted/credited
  5. Signed Employment/Commitment to deduct and remit (for seamen)	Must contain clear and legible information on the applicant's remittance
  6. Allotment slip/certificate showing BDO as one of the allotment accounts signed by the Crew (for seamen)	Must contain clear and legible information on the applicant's remittance
  7. Loan documents (Promissory Note and Disclosure Statement)	Signed Documents

  2. Post-Approval (Prior to Loan Booking)

  Document	Specifics
  1. PDCs or Signed Automatic Debit Arrangement Form (ADA)	Signed Documents
  2. Authorization Letter for Beneficiary signed by OFW.	Signed Documents
  3. Beneficiary Information Form	Signed Documents
  4. Valid ID of beneficiary	Unexpired

  SPECIFIC DOCUMENTS TO BE SUBMITTED UPON LOAN APPLICATION

  PRINCIPAL BORROWER	BANK ACCOUNT OWNER	RELEASE OF PROCEEDS
  OFW is present	OFW	OFW
  Standard Pre-approval Documents Requirements
  OFW is not present	OFW	Beneficiary
  1. Standard Pre-approval Documents Requirements 2. Authorization Letter signed by OFW authorizing Beneficiary to inquire of the loan and receive loan proceeds 3. ADA form signed signed by OFW (as owner of the bank account) 4. Beneficiary form 5. ID of Beneficiary
  OFW is not present	Beneficiary	Beneficiary
  1. Standard Pre-approval Documents Requirements 2. Authorization Letter signed by OFW authorizing Beneficiary to inquire of the loan, receive loan proceeds and to debit/ deduct loan monthly amortization from beneficiary's account 3. ADA form signed signed by beneficiary (as owner of the bank account)

  For our Kabayans working abroad, please use the Asenso Kabayan application forms by clicking on the following links "For Personal Loans Unsecured":

  1. Application Form

  2. Authorization Form

  3. Auto-Debit Arrangement Form

  4. Beneficiary Information Form