BDO OFW Loan - No Collateral with Lowest Interest Rate for Philippine Banks

I must really admit it that the BDO OFW loan offer is probably one of the lowest interest rate offers that an overseas Filipino worker can get out of a loan for migrant workers. It doesn't necessarily mean that you are a timer or balik manggagawa OFW or a first time working abroad. What matters is that you pass the pre-qualifying requirements and credentials for the bank standards. Banks do offer the lowest rate you can get, indeed but fact is, if you have problems with cancelled cards / credit card or have BP 22 bounced check case or closed bank accounts due to delinquency of payments, you might just not get approved of the BDO OFW loan. What's your next option in this case? Learn more below.

As a qualified professional loan consultant, I always make sure to satisfy clients not just with my unparalleled service but also by providing a lot of choices for my clients or loan applicants. If you happen to have any of the problems listed above, chances are, you will be declined of your loan application to any bank. Your only choice is to go for private lending companies in the Philippines that offer redemption. Most of these lenders consider such borrower lenders. Furthermore, if your loan agent is good at his job, you will absolutely have other choices for your BDO OFW loan application. See basic loan requirements below for your information.

Basic Requirements for OFW Loan in Banks

Although you really have to pre-qualify, banks set a standard list of basic requirements you have to produce prior to application to avoid waste of time. As a top agent for many lending companies in the Philippines, this is one of the first steps and concerns I always address to all my clients and loan applicants. So below is a list of basic requirements you need to provide and photocopy in advance for faster approval of your OFW loan application. Be sure to fill up the form as necessary and don't fail to ask questions anytime. Also ask your agent what matters should be addressed to prepare prior to reporting to the bank to apply for any type of loan - collateral or non-collateral personal loan.

Reminder: NEVER SUBMIT FAKE OR FALSIFIED DOCUMENTS (punishable by Philippine laws)

1. Completely filled up application form
2. POEA validated contract - balik manggagawa information sheet / ofw info sheet
3. passport
4.  OEC (must be validated by the POEA
5. Original electric or water bill
6. 2 valid primary IDs
7. Co-borrower (best is your allottee or any immediate or first degree relative) (also do have your co-borrower prepare 2 valid primary IDs and a COE and 1 month latest payslip)