BDO Kabayan Personal Loan Requirements

BDO Kabayan Personal Loan is designed to assist overseas Filipino workers (OFWs) and their beneficiaries in the Philippines with financial needs. To apply for this loan, you need to meet specific requirements. Here's a detailed guide to help you understand what you need to qualify:

1. Eligibility Requirements:

• Nationality: Must be a Filipino citizen.
• Age: At least 21 years old but not more than 60 years old at the time of loan application.
• Employment: Should be a regular OFW or a balikbayan.
• Income: Must have a stable source of income, with proof of income to support loan repayment.

2. Required Documents:

a. Proof of Identity:

• Valid ID (e.g., Passport, Driver’s License)
• Alien Certificate of Registration (ACR) for OFWs

b. Proof of Income:

• Latest payslips (for employed OFWs)
• Proof of remittance (for self-employed OFWs)
• Contract of Employment or Proof of Business Ownership

c. Proof of Residence:

• Utility Bill (electricity, water, or phone bill)
• Lease Contract or any document showing your current address

d. Proof of Relationship (if applicable):

• Birth Certificate or Marriage Certificate (if the loan is being applied for a family member)

e. Loan Application Form:

• Fully completed loan application form provided by BDO.

3. Loan Terms and Conditions:

• Loan Amount: Varies depending on the borrower’s capacity to pay and the terms agreed upon.
• Interest Rate: Competitive interest rates based on the current market conditions.
• Repayment Period: Flexible repayment terms ranging from 6 months to 5 years.
• Fees: Processing fees, administrative fees, and other related costs may apply.

4. Application Process:

• Visit a BDO Branch: Go to any BDO branch in the Philippines or abroad.
• Submit Requirements: Provide all the required documents.
• Application Review: BDO will assess your loan application and documents.
• Approval and Disbursement: If approved, the loan amount will be disbursed according to the agreed terms.

5. Important Notes:

• Ensure all documents are current and valid.
• Keep copies of all submitted documents for your records.
• Maintain a good credit history to improve your chances of approval.

By preparing these documents and meeting the requirements, you can simplify the application process for a BDO Kabayan Personal Loan. For additional assistance or specific queries, visiting a BDO branch or contacting their customer service is advisable.