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Personal Loan

Bring your plans to life with BDO Personal Loans.

Enjoy low interest rates and easy payment terms on your financing needs such as:

  • Home Renovation / Upgrades
  • Tuition / Education
  • Furniture
  • Appliances / Electronic Gadgets
  • Vacation / Travel
  • Balance Transfer / Debt Consolidation
  • Special Events
  • Health and Wellness
  • Medical Emergencies

Asenso Kabayan Program

BDO Asenso Kabayan Personal Loan Unsecured

A multi - purpose and non collateral Personal Loan for OFWs with fixed income.

BDO Asenso Kabayan Personal Loan Secured

The Personal Loan for OFWs is offered against hold-out on Joint or Individual account deposits maintained with BDO as security.

  • The following are the type of deposits allowed for this facility:
    • Peso or Dollar Savings Account
    • Peso or Dollar Time Deposit – at least co-terminous with the loan tenor
  • The minimum deposit requirement is P15,000 or its dollar equivalent. Though, the loan proceeds will be in Pesos.
  • Applicant should be the OFW only. However, if the deposit collateral is a joint account, beneficiary may apply as a principal borrower of the loan
  • The following cannot be allowed to be held as collateral
    • “In Trust For” accounts
    • Accounts with existing/ongoing hold-out arrangements

Benefits

Flexible loan amounts

  • Minimum of P10,000
  • Maximum of P 3,000,000

For Asenso Kabayan Personal Loan Secured

  • For Peso account, maximum of 90% of the deposit account balance
  • For Dollar account , maximum of 80% of the deposit account balance; the prevailing buying rate shall be used to determine peso equivalent.

Fixed monthly payments – pay the same amount every month with any of the following flexible payment terms:

  • 3 months (for Unsecured)
  • 6 months
  • 12 months
  • 18 months
  • 24 months
  • 36 months

Loan proceeds will be credited to BDO account

Top Up Loan Feature

  • Secure and additional Personal loan equal to or greater than the original Personal Loan (subject to submission of new income documents)
  • For Asenso Kabayan Personal Loan (Secured and Unsecured)
    • Existing Personal Loan with good standing may qualify for re-availment or top-up plan

Convenient Application

Personal Loan

Tenor Factor Rate Monthly Add-on Rate Effective Rate/Annum
6

0.179667192

1.30% 26.27%
12

0.095836960

1.25% 26.63%
18

0.068058532

1.25% 26.76%
24

0.054167533

1.25% 26.58%
36

0.040279967

1.25% 25.98%

 

Asenso Kabayan Program - Unsecured

Tenor Factor Rate Monthly Add-on Rate Effective Rate/Annum
6 0.186667698 2% 40.05%
12 0.103336822 2% 41.71%
18 0.075560430 2% 41.51%
24 0.061669382 2% 40.89%
36 0.047778078 2% 39.43%

 

Asenso Kabayan Program - Secured

Tenor Factor Rate Monthly Add-on Rate Effective Rate/Annum
6 0.175067218 0.84% 17.08%
12 0.091237975 0.79% 17.07%
18 0.063358579 0.78% 17.06%
24 0.049471099 0.78% 17.06%
36 0.035682596 0.79% 17.06%

 

 

 

 

 

 

Basic Requirements

  • Filipino citizen or foreigner residing in the Philippines for more than two (2) years
  • Must be 21 years old at time of application but no more than 70 years old upon maturity
  • Minimum Gross Annual income
    • P120,000 for Salaried Employees
    • P400,000 for  Self-Employed / Professionals
  • Must have at least one (1) landline at either residence or office
  • Residence or office must be within BDO serviceable area
  • Additional application requirement for Salaried Employees
    • Must be at least one (1) tenure with the company
  • Additional application requirement for Self-Employed
    • Must be a sole proprietor or majority part-owner of a company operating for at least two (2) years.
  • Additional application requirement for Professionals
    • Must be in private practice for at least one (1) year
       

Document Requirements

Pre Approval

Proof of Income for Salaried Employees

  • Photocopy of the latest BIR Form 2316 or W2 signed by employer's authorized representative (MANDATORY) and submit any of the following:
    • Original Certificate of Employment and Income (COEI) issued in the last three (3) months indicating status, length of service and breakdown of compensation
    • Photocopy of last full month pay slip

Proof of Income for Self-Employed/Professionals

  • Photocopy of Registration of Business Name
  • For Single Proprietorship issued by the DTI (Department of Trade and Industry)
  • For Partnerships issued by the SEC (Securities and Exchange Commission)
    • Photocopy of latest ITR and W4 with BIR/Bank Stamp (MANDATORY)
    • Photocopy of latest Audited Financial Statements for the last two (2) years
    • Photocopy of Bank Statements for the last six (6) months (OPTIONAL)
    • Proof of Identification - Photocopy of at least two (2) valid photo-bearing identification documents, front and back, issued and signed by an official authority such as:
      • Passport
      • Driver's License
      • Professional Regulations Commission (PRC) ID
      • National Bureau of Investigation (NBI) Clearance
      • Police Clearance
      • Postal ID
      • Voters ID
      • Barangay Certification
      • Government Service Insurance System (GSIS) E-card
      • Social Security System (SSS) Card
      • Senior Citizen Card
      • Overseas Workers Welfare Administration (OWWA) ID
      • OFW ID
      • Seaman's Book
      • Alien Certification of Registration/Immigrant Certificate of Registration
      • Government Office and GOCC ID, e.g. Armed Forces of the Philippines (AFP ID), Home Development Mutual Fund (HDMF ID)
      • Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
      • Department of Social Welfare and Development Certification (DSWDC)
      • Integrated Bar of the Philippines ID
      • Company ID's issued by private entities or institutions registered or supervised either by BSP, SEC or IC.

For Resident Foreigners Only

  • Copy of Employment Contract or Certificate of Employment
  • Letter from the Embassy (if Embassy Official)
  • Submit photocopy of any of the following:
    • Valid pAssport  with Resident Visa; OR
    • Work Permit and valid Visa; OR
    • Special Investor's Resident Visa and Visas Philippine Economic Authority or Visa with Eo226; OR
    • ACR or ICR or ACR1

 

Asenso Kabayan Program

  Overseas Filipino Worker (OFW) Seaman / Unskilled / Domestic Helpers
Age
  • 25 Years old at the time of loan application and not 65 years old at the time of loan maturity
  • 25 Years old at the time of loan application and not 65 years old at the time of loan maturity
Citizenship
  • Former Filipinos with or withour dual citezenship
  • Filipinos married to foreigners
  • Filipinos based abroad/OFW and their Beneficiaries
  • Filipinos
     
Employment
  • 2 years continuous / employment contract
  • 3 years continuous / employement for domestic helpers
  • 3 years continuous employment / employment contract
Telephone
  • Must have at least one (1) landline at either residenceaor employment/business
  • Must have at least one (1) landline at either residenceaor employment/business
Income
  • Gross monthly income must be P10,000 or its US$ equivalent
  • Gross monthly income must be P10,000 or its US$ equivalent
Credit History
  • No adverse findings in BAP-NFIS and other internal negative files
  • No adverse findings in BAP-NFIS and other internal negative files
Beneficiary Requirement
  • Required only if proceeds will be released to any person other than the applicant him/herself
  • Required only if proceeds will be released to any person other than the applicant him/herself
Trading Area
  • Beneficiary must be residing/working within BDO serviceable areas (30km radius from any BDO branch)
  • Beneficiary must be residing/working within BDO serviceable areas (30km radius from any BDO branch)
Document Requirements – Pre-Approval
  • Signed Automatic Debit Arrangement Form
  • Authorization Letter for Benefiaciary sign by OFW
  • Benificiary Information Form
  • Signed Automatic Debit Arrangement Form
  • Authorization Letter for Benefiaciary sign by OFW
  • Benificiary Information Form

 

Loan Mechanics

  Overseas Filipino Worker (OFW) Seaman / Unskilled / Domestic Helpers
Loanable Amount
  • Minimum of P10,000
  • Maximum of P500,000
  • Loan Amount = 1.5 x GMI, if employed <3 years
  • Loan Amount = 2 x GMI, if employed <=3 years
Loan Tenor
  • Minimum Tenor of 6 months
  • Maximum Tenor of 36 months
  • For contract-based employees, loan must be co-terminus with contract
    • Open ended contracts, maximum term shall be 24 months only and subject to exception approval
  • Minimum Tenor of 6 months
  • Maximum Tenor of 36 months
  • For contract-based employees, loan must be co-terminus with contract
    • Open ended contracts, maximum term shall be 24 months only and subject to exception approval

 

Processing Guidelines

  Overseas Filipino Worker (OFW) Seaman / Unskilled / Domestic Helpers
De-dupping
  • Subject to existing guidelines
  • Subject to existing guidelines
  • Check Manning Agency vs. POEA Manning Agency list
Credit Investigation
  • Employment verification with employer via callout or email
  • Employment verification with Manning Agency

 

 

  • Maximum Loan
    P3,000,000
  • Minimum Loan
    P10,000
  • Tenor (Months)
    6, 12, 18, 24, 36
  • Pay the same amount every month
 
 
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