How to apply for BDO Unibank Philippines personal loan and requirements

Last Updated on December 6, 2023 by admin

BDO Unibank is a leading bank in the Philippines that offers personal loans to individuals in need of financing for various personal expenses. BDO Personal Loan is called BDO Personal Loan with Prime Rebate. Here are some key features of the BDO Personal Loan:

Loan Amount: BDO offers personal loans starting from PHP 10,000 up to PHP 2,000,000, depending on the borrower’s income and creditworthiness.

BDO Unibank, Inc. (Makati, Philippines) is a full-service universal bank in the Philippines and has one of the largest distribution networks, with more than 1,000 operating branches and over 3,500 ATMs nationwide.

Before we dive further, let’s take a look at Loan Products offered by BDO Unibank and their interest rate.

Table of Contents

1. BDO Personal Loans.

BDO Unibank Philippines personal loan is Unsecured and Secured loan.It’s multi – purpose and non collateral Personal Loan for OFWs with fixed income.The credit facility can be use for the following purpose:

1. Home Renovation / Upgrades
2. Tuition / Education
3. Furniture
4. Appliances / Electronic Gadgets
5. Vacation / Travel
6. Balance Transfer / Debt Consolidation
7. Special Events
8. Health and Wellness
9. Medical Emergencies

The BDO Personal Loan is categorized into BDO Personal Loan and BDO Kabayan Program.

1 BDO Personal Loan : Borrowers can get loan amounts as low as P10,000 up to P1,000,000, subject to bank approval with Flexible payment terms Choose from 6, 12,18, 24, 36 months. The minimum deposit requirement is P15,000 or its dollar equivalent. Though, the loan proceeds will be in Pesos. Applicants should be the OFW only. However, if the deposit collateral is a joint account, the beneficiary may apply as a principal borrower of the loan.

2. BDO Kabayan Personal Loan Unsecured: This kind of personal loan is for OFWs and it’s offered against hold-out on Joint or Individual account deposits maintained with BDO as security.

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 to qualify for BDO Kabayan Personal Loan Unsecured.But if the deposit collateral is a joint account, beneficiary may apply as a principal borrower of the loan

For BDO Kabayan Personal Loan (Secured and Unsecured) Existing Personal Loan with good standing may qualify for re-availment or top-up plan

For BDO Kabayan Personal Loan Unsecured OFW minimum loan amount is P10,000 while for 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: If you have a Peso account,the maximum of 90% of the deposit account balance, while if you have a dollar account the maximum of 80% of the deposit account balance; the prevailing buying rate shall be used to determine peso
equivalent.

Loan tenor for BDO Kabayan Personal Loan

1. For open-ended contracts, maximum term shall be 24 months only and subject to exception approval
2. For contract-based employees, loan must be co-terminus with contract
3. The loan has flexible payment terms: 3 (for Unsecured), 6, 12, 18, 24 and 36 months

Eligibility Requirements

BDO Personal Loan
1. Must be 21 years old at time of application but not more than 70 years old upon loan maturity
2. Applicants must be a Filipino citizen or a foreigner who is a resident of the PhilippineS
3. Minimum Gross Fixed Annual Income Requirement:
◦ P180,000 for Salaried Employees
◦ P400,000 for Self-Employed / Professionals

4. Regular employee or self-employed with business operating at least two (2) years
5. One (1) landline number in either residence or place of work, or mobile number (postpaid or prepaid)
5. Residence or office address must be within any area where a BDO branch is located

BDO Kabayan Program

1. 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
2. Must have at least two (2) years continuous employment contract

3. Must have at least one (1) landline phone at either residence or employment/business
4. Gross monthly income must be at least P20,000 or its US$ equivalent
5. With good credit history

. 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

How to apply for BDO Personal loan

To apply for BDO Personal loan Submit your application at any of BDO branch nationwide
• For Kabayans working abroad, you may use the BDO Kabayan Application forms

What are the fees and charges for BDO philippines personal loan

The following fess and charges is apply to BDO personal loan

1. Processing Fee: —– P1,300 (Deducted from loan proceeds)
2. Late Payment Fee:—– 5% of the amount due or P300 whichever is higher
3. Returned Check Fee:—- P500 per returned check
4. Certification Request Fee: P100 per request
5.Documentary Stamp Tax Fee:—-P1.50 for every P200 approved loan amount or fraction thereof, whichever is higher Applicable for approved loan amounts greater than P250,000 or for business purpose (regardless of the amount)

6. Installment Processing Fee: —-5% of the total outstanding principal balance or P300 whichever is higher

How do I pay the monthly installment?

Payment can be done via Auto Debit Arrangement (ADA) or Over-the-Counter (OTC) at any BDO Branch nationwide.

Source: BDO bank Philippines

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Meet Ogbeide Frank, popularly known as perere, a blogger who loves writing about finance and Tech. He studied Business administration at the Ambrose Alli University Ekpoma and Mobile Communication at Orange College Malaysia .Frank have worked as a banker and consultant in variety of Nigeria agencies

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