BDO Personal Loan Complete Guideline [2021]

BDO personal loan is always the solution that many people choose to borrow money. BDO’s unsecured loan products were promoted, especially cash loans.

So how is this cash loan? Find out more with us in the article.

What is BDO Unibank?

Banco de Oro Universal Bank (English name: Banco de Oro Universal Bank, abbreviated as BDO) is is the largest bank in the Philippines, fifteenth largest in Southeast Asia, 116th largest in Asia, and the 234th largest bank globally

BDO-Unibank-logo (1)

Established and officially put into operation on January 2, 1968, with more than 50 years of enduring operation, BDO has outperformed to become one of the largest capitalization companies in the stock market. contract in Philippines. According to statistics from 2019, the total assets of the bank are about ₱3.19 trillion $66.42 billion, in the list of 3 banks with the largest total assets in Philippines.

What is BDO personal loan?

BDO is considered as one of the banks today offering the most attractive preferential policies with personal loan packages to enjoy low interest rates and easy payment terms on your financing needs such ads

  • Home Renovation / Upgrades
  • Tuition / Education
  • Furniture
  • Appliances / Electronic Gadgets
  • Vacation / Travel
  • Balance Transfer / Debt Consolidation
  • Special Events
  • Health and Wellness
  • Medical Emergencies

BDO-personal-loan

BDO personal loan benefits

  • Loan Amount Avail of cash for as low as P10,000 up to P1,000,000, subject to bank approval.
  • Loan Term Flexible payment terms! Choose from 6, 12,18, 24, 36 months.
  • Loan Availability Loan proceeds can be credited to your BDO Savings / Current Account or can be disbursed via BDO Manager’s Check.
  • Payment Channels Pay monthly installment via Automatic Debit Arrangement (ADA) or Over-the-Counter (OTC) at any BDO Branch nationwide.
  • Monitoring Monitor your outstanding balance via BDO Personal Online Banking.

Note: if applying BDO personal loan is not easy for you, here are some other loan solution

digido

Robocash PH (now DiGiDo)
Loan up to PHP 10,000

Amounts

25.000

PHP

Interest

20%

year

Get money now
moneycat-philippines-1

Moneycat PH
0% interest for first loan!

Amounts

20.000

PHP

Interest

22%

year

Get money now
Cashexpress-logo

CashXpress PH
Fast and safe!

Amounts

20.000

PHP

Interest

22%

year

Get money now
olp

Online Loans Pilipinas
Get the first loan for free!

Amounts

20.000

PHP

Interest

22%

year

Get money now
kviku-philippines-1

Kviku PH
Easy process, disburse quickly!

Amounts

20.000

PHP

Interest

21%

year

Get money now
juanhand-ph

JuanHand PH App (Android)
Best loan app

Amounts

12.000

PHP

Interest

20%

year

Get money now

 

BDO personal loan calculator

Please refer to this tool to calculate the loan easily

Important note

1. All amounts quoted are in Philippine Peso.

2. Rates may change without prior notice.

3. All computations are for illustration purposes only. These do not constitute an approval nor an offer by BDO.

4. Personal Loan applications are subject to the final credit approval of BDO. Once approved, the signed
Undertaking, Promisory Note and Disclosure Agreement and the prevailing fees and charges shall apply.

What is BDO Kabayan Program?

BDO Kabayan Personal Loan Unsecured

A multi – purpose and non collateral Personal Loan for OFWs with fixed income.

BDO Kabayan Personal Loan Secured

The Personal Loan for OFWs is offered against hold-out on Joint or Individual account deposits maintained with BDO as security. The following are the type of deposits allowed for this facility:

  • Peso or Dollar Current or Savings Account
  • Peso or Dollar Time Deposit – at least co-terminous with the loan tenor
  • The minimum deposit requirement is P15,000 or its dollar equivalent. Though, the loan proceeds will be in Pesos.
  • Applicant should be the OFW only. However, if the deposit collateral is a joint account, beneficiary may apply as a principal borrower of the loan
  • The following cannot be allowed to be held as collateral
    • “In Trust For” accounts
    • Accounts with existing/ongoing hold-out arrangements

BDO Kabayan Program benefits

Flexible loan amounts Minimum of P10,000 For BDO Kabayan Personal Loan Secured

  • For Peso account, maximum of 90% of the deposit account balance
  • For Dollar account , maximum of 80% of the deposit account balance; the prevailing buying rate shall be used to determine peso equivalent.

Fixed monthly payments – pay the same amount every month with any of the following flexible payment terms:

  • 3 months (for Unsecured)
  • 6 months
  • 12 months
  • 18 months
  • 24 months
  • 36 months

Loan proceeds will be credited to BDO account Top Up Loan Feature Secure and additional Personal loan equal to or greater than the original Personal Loan (subject to submission of new income documents) For BDO Kabayan Personal Loan (Secured and Unsecured): Existing Personal Loan with good standing may qualify for re-availment or top-up plan Convenient Application Submit your application at any of our BDO branches nationwide For our Kabayans working abroad, you may use the BDO Kabayan Application forms

BDO loan interest rate

BDO Personal Loan interest rate

Tenor Factor Rate Monthly Add-on Rate Effective Rate/Annum
6

0.179667192

1.30% 26.27%
12

0.095836960

1.25% 26.63%
18

0.068058532

1.25% 26.76%
24

0.054167533

1.25% 26.58%
36

0.040279967

1.25% 25.98%

BDO Kabayan Program – Unsecured

Tenor Factor Rate Monthly Add-on Rate Effective Rate/Annum
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%

BDO Kabayan Program – Secured

Tenor Factor Rate Monthly Add-on Rate Effective Rate/Annum
6 0.175067218 0.84% 17.08%
12 0.091237975 0.79% 17.07%
18 0.063358579 0.78% 17.06%
24 0.049471099 0.78% 17.06%
36 0.035682596 0.79% 17.06%

BDO personal loan requirements

• Must be 21 years old at time of application but not more than 70 years old upon loan maturity

• Applicant must be a Filipino citizen or a foreigner who is a resident of the Philippines

• Minimum Gross Fixed Annual Income Requirement:

◦ P180,000 for Salaried Employees

◦ P400,000 for Self-Employed / Professionals

• Regular employee or self-employed with business operating at least two (2) years

• One (1) landline number in either residence or place of work, or mobile number (postpaid or prepaid)

• Residence or office address must be within any area where a BDO branch is located

BDO Kabayan Program requirements

Overseas Filipino Worker (OFW)

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
• Former Filipinos with or without dual citizenship; Filipinos married to foreigners; Filipinos based abroad/OFW and their Beneficiaries
• Must have at least two (2) years continuous employment contract
• Must have at least one (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 history

Beneficiary Requirements (Required only if proceeds will be released to any person other than the applicant him/herself)
• Must have a landline
• Limited to the following: spouse or children, immediate family members (parents or siblings), relatives of up to 3rd degree of consanguinity
• Beneficiary must be residing/working within BDO serviceable areas (30km radius from any BDO branch)

Processing Guidelines

• Employment verification with employer will be done via callout or email

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

Beneficiary Requirement (Required only if proceeds will be released to any person other than the applicant him/herself)

• Must have a landline
• Limited to the following: spouse or children, immediate family members (parents or siblings), relatives of up to 3rd degree of consanguinity
• Beneficiary must be residing/working within BDO serviceable areas (30km radius from any BDO branch)

Processing Guidelines

• Check Manning Agency vs. POEA Manning Agency List
• Employment verification with Manning Agency

See also: BDO Exchange Rate – BDO Forex Today

Frequently asked questions about BDO personal loan

How much is the amount I can avail?

Minimum amount that you can borrow is Php 10,000.00 and maximum is Php 1,000,000.00. Loan amount is subject to bank approval and will be based on the income documents submitted.

For how long can I pay the loan?

You may choose to pay the loan from 6, 12,18, 24, 36 months loan term.

What are the fees and charges?

Processing Fee P1,300 (Deducted from loan proceeds)
Late Payment Fee 5% of the amount due or P300 whichever is higher
Returned Check Fee P500 per returned check
Certification Request Fee P100 per request
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)
Installment Processing Fee* 5% of the total outstanding principal balance or P300 whichever is higher
*For processing of full payment of outstanding balance before end of payment term

Where do I apply for a BDO Personal Loan?

Visit any BDO Branch near you.

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.

Can I pay the loan in advance?

Yes, subject to fees and charges. See table of fees and charges above.

Can I re-avail?

Yes, as long as your existing Personal Loan has been paid for 6 months and is in good credit handling.  

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