In spite of earning big while working abroad, there are times when Overseas Filipino Workers (OFWs) fall short in their finances. As a breadwinner, an OFW carries almost if not all of the financial responsibilities in the family. These include the basic and daily needs of the family, education costs of the children, emergencies and other things that drain one's pockets.
Because of this, getting a loan is one of the options for an OFW. And if you are looking for an easy and affordable way of getting extra cash on hand, the Bank of the Philippine Islands (BPI) has something to offer — the BPI Personal Loan! According to their website, BPI Personal Loan comes with "fixed interest and longer payments period that offers OFWs strong flexibility when it comes to finances."
BPI Personal Loan is designed for land-based and sea-based workers, which means, whatever types of OFW you are, there is a loan applicable to you!
For Sea-based Overseas Filipinos
Fast cash up to P300,000 with minimal requirements only:
1. Two (2) valid government-issued photo-bearing IDs
2. Proof of income documents:
- Latest and unexpired signed POEA contract; OR
- Employment contract with boarding date
Affordable monthly payments with no pre-termination fees. Loan term is one month less employment contract with the first monthly installment deducted from the loan proceeds. Pay your monthly installment through our automatic debit facility--no need for over-the-counter payments or post-dated checks.
Personal Loan Seafarer
Sample Monthly Installment
|Figures above are for illustration purposes only. Actual monthly installment and applicable interest rate may vary and shall be indicated in your loan documents.|
For Land-based Overseas Filipinos
BPI Personal Loan has the following features that make funding your needs easy:
- Take advantage of a Collateral-FREE loan
- Choose a loan term that is right for your budget -- pay in 12, 18, 24, 30 or 36 monthly installments
- Get up to 3x your monthly income! Loan any amount ranging from Php20,000 to Php1,000,000.
- Pay your monthly installment through our automatic debit facility -- no need to issue checks or line up at the bank to pay
- Get your cash quickly and safely through your BPI account. It's that fast and easy!
- Worry-less because there is no pre-termination fee if you decide to pay your loan earlier than the maturity
BPI offers one of the lowest rates in the market, pay as low as P796 per month*!
If you are interested in applying for a BPI Personal Laon. Click here. You will be directed to BPI's website.
Note: Jbsolis is not connected nor affiliated with BPI. All information on this article is taken from the bank's website for general purpose only.