BDO Kabayan Cash Loan Requirements for Application — A GUIDE

BDO Kabayan Cash Loan Requirements for Application — A GUIDE

April 23, 2024 by Van Garzon in Categories Finance

Lists of BDO Kabayan Cash Loan Requirements OFW Must Submit To Apply

BDO KABAYAN CASH LOAN – You can check here a guide on the multi-purpose loan offer of BDO Unibank for overseas Filipino workers (OFWs).

Overseas Filipino Workers (OFWs) across the nation may avail loans that were specifically designed for Pinoys who are working abroad. One of the loan offers is the Kabayan Personal Loan by BDO Unibank.

The said personal loan offer is a multi-purpose cash loan that is open for Filipinos working abroad including seafarers. The bank has set varying BDO Kabayan Cash Loan requirements among seafarers and other OFWs.

For overseas Filipino workers (OFWs) who are not seafarers, here are the documents required in applying for the loan offer:

  • duly-accomplished BDO Kabayan Personal Loan Application Form
  • accomplished Automatic Debit Arrangement Form
  • any of the following government-issued IDs:
    • Preferred IDs:
      • Driver’s License
      • Philippine Passport
      • TIN ID
      • SSS ID
      • GSIS eCard
    • Other Acceptable IDs:
      • UMID Card
      • PhilSys ID
      • Voter’s ID
      • Philippine Postal ID
      • PRC ID
      • Philhealth ID
  • Last six (6) months Certificate of Employment or current employment contract (if applicable); OR [should be one line only]
  • Latest one (1) full month payslip; AND
  • Six (6) months bank statements
  • Six (6) months remittance slips (optional)

For seafarers, here is a list of the BDO Kabayan Cash Loan requirements that you must prepare and submit to apply for the multi-purpose loan offer:

  • duly-accomplished BDO Kabayan Personal Loan Application Form
  • accomplished Automatic Debit Arrangement Form
  • any of the following government-issued IDs:
    • Preferred IDs:
      • Driver’s License
      • Philippine Passport
      • TIN ID
      • SSS ID
      • GSIS eCard
    • Other Acceptable IDs:
      • UMID Card
      • PhilSys ID
      • Voter’s ID
      • Philippine Postal ID
      • PRC ID
      • Philhealth ID
  • POEA Contract of Employment
  • Seaman’s Book

Once approved, BDO Unibank will notify you regarding the status of your loan application. In the case of the interest that the loan may incur, it depends on the chosen loan term.

As mentioned previously, the Kabayan Personal Loan of BDO Unibank is payable for up to 36 months. Here are the interest rates under the loan offer:

Tenor Factor Rate ​​Monthly Add-on Rate ​​Effective Rate/Annum
3 0.353337798 2% 35.66%
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%

Aside from BDO Unibank, another reputable entity with a multi-purpose cash loan offer is the Philippine National Bank. Are you interested about the PNB Personal Cash Loan?