List of Banks and Private Institutions for Personal, Housing and Auto Loans That OFWs Can Apply

Overseas Filipino Workers are having a hard time figuring out who to approach for inquiries related to housing or personal loans. There are some who don’t even an idea what agency or private organizations to contact. Living out of the country limits their capability of communicating in different financial institutions in the Philippines.

The number of remittances being sent to the Philippines reached a total of $24.35 billion. Because of that, local lenders are much open to the possibilities of accommodating OFWs for their cash needs.

Here are some of the most trusted banks in the Philippines who is willing to provide financial support for OFWs and their families in the Philippines.

1. BDO Unibank (BDO)

Offers:

• BDO Personal Loan
• Home and Auto Loans (Asenso Kabayan Program)

Requirements:

• At least 25 years old, not more than 65 years old (upon loan maturity)
• For skilled workers, employed at least for 2 years. For domestic helpers, employed at least 3 years.
• Minimum salary is P10,000/month for Personal Home Loans and P50,000/month for Auto Loan

Submit application to [email protected]. Pay P100 for peso account (initial minimum deposit) and $100 for dollar account. Download all forms at www.bdo.com.ph.

2. Bank of the Philippine Islands (BPI)

Offers:

• Personal Loans
• Housing Loans
• Car Loans

Requirements:

• At least 2 years working abroad
• P30,000 minimum salary (Personal and Auto Loans) and P40,000 salary for Housing Loans.
• At least 21 years old, not more than 60 years old (upon loan maturity)
• Borrowers must be present during the signing of documents.

Applicants can apply online at www.bpiloans.com.

3. Chinabank

Offers:

• Housing Loan

Requirements:

• Employed for 3 years abroad.
• P50,000/month minimum salary.
• At least 21 years old, not older than 65 years old (upon maturity of loan).
• Without court cases, unpaid loans, bouncing checks and cancelled credit cards.

Visit www.chinabank.ph for more details.

Cotinue on Next Page :