Personal Loan

 

WHAT WE OFFER

BDO 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

 

Key Features

 

Loan Amount
Avail of cash for as low as P10,000 up to P1,000,000, subject to bank approval.


Loan Term
Flexible payment terms! Choose from 6, 12,18, 24, 36 months.


Loan Availability
Loan proceeds can be credited to your BDO Savings / Current Account or can be disbursed via BDO Manager's Check.


Payment Channels
Pay monthly installment via Automatic Debit Arrangement (ADA) or Over-the-Counter (OTC) at any BDO Branch nationwide.


Monitoring
Monitor your outstanding balance via BDO Personal Online Banking.

BDO Kabayan Program

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

 

BDO 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 Current or Savings Account
     ◦ Peso or Dollar Time Deposit – at least co-terminus with the loan tenor
• The minimum deposit requirement is P15,000 or its dollar equivalent though, the loan proceeds will be in Philippine Pesos.
• Applicant should be the OFW. However, if the deposit collateral is a joint account, beneficiary may apply as a principal borrower of the loan
• The following cannot be held as collateral
     ◦ “In Trust For” accounts
     ◦ Accounts with existing/ongoing hold-out arrangements

 

Benefits

 

For BDO Kabayan Personal Loan Unsecured

• For OFW minimum loan amount is P10,000
• For Seaman/ Domestic Helpers minimum loan amount is equal to
     ◦ Gross Monthly Income x 1.5 (if employed for less than 3 years)
     ◦ Gross Monthly Income x 2 (if employed for at least 3 years)

 

For BDO 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 a fixed amount every month with any of the following flexible payment terms: 3 (for Unsecured), 6, 12, 18, 24 and 36 months
• For contract-based employees, loan must be co-terminus with contract
• For open-ended contracts, maximum term shall be 24 months only and subject to exception approval

 

Loan Availability
Proceeds will be credited to BDO account

 

Top Up Loan Feature

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

 

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HOW TO APPLY

Step 1: Check your Qualifications

BDO Personal Loan

Eligibility Requirements

• Must be 21 years old at time of application but not more than 70 years old upon loan maturity
• Applicant must be a Filipino citizen or a foreigner who is a resident of the Philippines
• Minimum Gross Fixed Annual Income Requirement:
      ◦ P180,000 for Salaried Employees
      ◦ P400,000 for Self-Employed / Professionals
• Regular employee or self-employed with business operating at least two (2) years
• One (1) landline number in either residence or place of work, or mobile number (postpaid or prepaid)
• Residence or office address must be within any area where a BDO branch is located
 

BDO Kabayan Program

1. Overseas Filipino Worker (OFW)

Eligibility Requirements
• At least 25 years old at the time of loan application and not more than 65 years old at the time of loan maturity
• Former Filipinos with or without dual citizenship; Filipinos married to foreigners; Filipinos based abroad/OFW and their Beneficiaries
• Must have at least two (2) years continuous employment contract
• Must have at least one (1) landline phone at either residence or employment/business
• Gross monthly income must be at least P20,000 or its US$ equivalent
• With good credit history

Beneficiary Requirements
(Required only if proceeds will be released to any person other than the applicant him/herself)
• Must have a landline
• Limited to the following: spouse or children, immediate family members (parents or siblings), relatives of up to 3rd degree of consanguinity
• Beneficiary must be residing/working within BDO serviceable areas (30km radius from any BDO branch)

Processing Guidelines
• Employment verification with employer will be done via callout or email
 

2. Seaman/ Domestic Helpers

Eligibility Requirements
• At least 25 years old at the time of loan application and not more than 65 years old at the time of loan maturity
• Must be Filipino citizen
• Must have at least 3 years continuous employment contract
• Must have at least 1 landline phone at either residence or employment/business
• Gross monthly income must be at least P20,000 or its US$ equivalent
• With good credit standing

Beneficiary Requirements
(Required only if proceeds will be released to any person other than the applicant him/herself)
• Must have a landline
• Limited to the following: spouse or children, immediate family members (parents or siblings), relatives of up to 3rd degree of consanguinity
• Beneficiary must be residing/working within BDO serviceable areas (30km radius from any BDO branch)

Processing Guidelines
• Check Manning Agency vs. POEA Manning Agency List
• Employment verification with Manning Agency

 

Step 2: Prepare the Documents

BDO Personal Loan & Kabayan Program

 

Basic Document Requirements
Pre-Approval

 

Proof of Income for Salaried Employees

• Photocopy of the latest Income Tax Return duly stamped as received by the Bureau of Internal Revenue (BIR) or BIR Form 2316 signed by employer's authorized representative (MANDATORY)
• Plus any of the following: Latest full-month's payslip/s ; Original Certificate of Employment indicating status, service tenure and compensation breakdown

 

Proof of Income for Self-Employed/Professionals

• Photocopy of the latest Income Tax Return duly stamped as received by the Bureau of Internal Revenue (BIR) and Audited Financial Statements for the last two (2) years (MANDATORY)
• Photocopy of Registration of Business Name (MANDATORY)
     ◦ For Single Proprietorship: issued by the Department of Trade and Industry (DTI)
     ◦ For Partnerships: issued by the Securities and Exchange Commission (SEC)
• Latest three (3) months' bank statement (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
• Unified Multi-Purpose ID (UMID)
• Professional Regulations Commission (PRC) ID
• National Bureau of Investigation (NBI) Clearance
• Police Clearance
• Postal ID
• Voter's 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
• 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)
• Any one of the following valid documents: Valid VISA and work permit; Alien Certificate of Registration (ACR) or Immigrant Certificate of Registration (ICR) or ACR-I; or Valid passport with any of the following: Special Investors Resident VISA, Special Non-Immigrant VISA for PEZA investors and employees, VISA with EO266

 

Additional document requirements for BDO Kabayan Program

• Signed Automatic Debit Arrangement Form
• Authorization Letter for Beneficiary signed by OFW
• Beneficiary Information Form

Step 3: Submit Application Form and Requirements

BDO Personal Loan & Kabayan Program

• Submit your application at any of our BDO branch nationwide
• For our Kabayans working abroad, you may use the BDO Kabayan Application forms by clicking the following links:

  ◦ BDO Kabayan – Secured
      ▪ Application Form
      ▪ Deed of Assignment Form
      ▪ Automatic Debit Arrangement Form
      ▪ Beneficiary Information Form

  ◦ BDO Kabayan – Unsecured
      ▪ Application Form
      ▪ Authorization Form
      ▪ Automatic Debit Arrangement Form
      ▪ Beneficiary Information Form

 

 

For Inquiries

Call BDO Customer Center at +63 2 8631-8000Text BDOLOANS to 225678