OFW Loan Guide: Banks that Offers Loans for OFWs

According to the Bangko Sentral ng Pilipinas, OFW remittances in 2016 amounted to $2.4 billion. This is why the government is continuously providing programs and services that could make their lives and that of their families better, including OWWA Loan.

The good news is there are other financial institutions that offer various loan facilities specifically for Overseas Filipino Workers. Whether it is a business loan, a personal loan, home loan, or car loan, these banks are willing to extend their helping hands to you:

1. Bank of the Philippine Islands (BPI)

BPI offers variety of loan facilities for both land-based and sea-based migrant workers. This includes Personal Loan up to P1 million, Housing Loan, and Auto Loan designed for OFWS.

To apply, you must be a Filipino citizen and 21 years old and above and not more than 60 years at the time of loan maturity. You must also submit government-issued IDs and your latest and unexpired POEA contract or current employment contract with boarding date.

Visit www.bpiloans.com to apply online.

2. BDO Unibank (BDO)

BDO established the Asenso Kabayan Program to provide financial assistance to OFWs who wish to apply for a home, auto, or personal loan.

BDO bank loan requirements are: borrower must be at least 25 years old but not more than 65 years by the time your loan matures and employed for at least two and three years for skilled workers and domestic helpers, respectively.

You can also download BDO application form for loan on their website, www.bdo.com.ph

3. Chinabank 

Chinabank offers Overseas Kababayan Services, which provides secure, reliable, and competitive products that allow you to manage your remittances, investments, and personal needs. This includes home loan, car loan, and personal loans as well.

To apply for China Bank OFW loan, requirements include age of borrower between 21 and 65 years old upon maturity of loan and should not have any adverse credit findings like unpaid loans, cancelled credit cards, or bouncing checks among others.

Visit www.chinabank.ph for more information about their loan facilities.

4. Philippine National Bank (PNB) 

“You First” is PNB’s tagline. True to its promise, PNB came up with Global Filipino program for OFWs. They offer auto loan and home loan for your family and avail of any of the facilities even when you are working overseas through their branches outside the Philippines.

Similar to other banks, you must be at least 21 years old to avail of any of the loan facilities and must not exceed 65 years old at the time of maturity. You must also be working abroad for at least two years to qualify.

Know more about PNB’s Global Filipino program here.

5. Philippine Savings Bank (PSBank)

PSBank is also committed in providing overseas Filipino workers with facilities that could enhance your life. Aside from the savings account and remittance facilities, PSBank also has home and car loan products for OFWs.

Apart from the basic requirements such as age and term of employment, don’t forget to submit your Job Contract, proof of remittances for at least three months, and consularized Certificate of Employment.

Check out PSBank’s loan facilities in their website.

6. RCBC Savings Bank (RCBC) 

Whether it is a housing loan, car loan, personal loan, or a loan to help you start your business, RCBC got you covered. They provide flexible terms as well to make payment easier and more convenient for you.

You can learn more about RCBC’s consumer loans by checking out their website.

Check the loan facilities offered by various banks and ask about their interest rates and payment terms to help you decide which bank is the best one for you.


33 Replies to “OFW Loan Guide: Banks that Offers Loans for OFWs”

  1. Sir/Maa’m,
    I have an existing car loan in your bank. Can I apply a business loan also? Thank you if you can answer me.

  2. Sir/Maa’m,
    I have an existing car loan in your bank(PS bank). Can I apply a business loan also? Thank you if you can answer me.

    1. Hi Melanie. We are not affiliated with PS Bank. You may direct your concern to any PS Bank representatives. Thanks!

  3. hi po ask lang po san mag ok mag loan for new OFW? sa mga Bank po bah or lending company’s? yung d mataas yung interest. salamat po

  4. Magandang araw po mam/sir, isa po aq ofw from Saudi Arabia ba2kasyon po aq next week,balak q po magloan kc may bibilhin aq lupa ano2 po ba mga kailangan para po makapagloan.

    1. Hi Sir, depende po yan kung saan niyo po balak mag-loan kasi per lender, mayroon sariling set of requirements. Gayunpaman, maghanda po kayo ng ID, copy ng title ng lupa, tax declaration, updated tax receipts kasi hihingin din po yan sa banko.

  5. Hi po gusto ko po sana mag inquire para sa ofw loan nid po kasi para sa pagkuha ng house and lot… nasa saudi na po ako

  6. Hi! I am currently in Doha Qatar and planning to have my vacation this september 18 , kng kukuha po ako ng loan or mg-aapply ako, gaano po katagal ang process and is it really possible po na ma approve or may instance na di dn pp mapproved?? been working in Qatar for more than 4 yrs but currently working with company for almost 2 yrs na ang salary ay nka ATM does it affect po ba ng application ko? I’m receiving a 70k per month here without tax since wala pong tax dito sa amin.. thanks..i hipe masagot po ang mga tanung ko.. GOD BLESS

    1. Hi Charmae. The guarantee of approval will depend on several factors and according to lender. The same goes with processing time, since iba-iba naman po per lender. If you need to apply for a loan, you can consider us and give us a call once you’re here in the Philippines. You may start by applying online here and if you are qualified, we will do our best to facilitate your application as quickly as we can. Thanks!


  7. Hi po, i am currently working in Oman as a nurse, now 4 years in service. I want to apply for ofw loan, do i need to submit 3 documents as proof of employment (payslip, contract and cert of employment) or 1 doc is enough. Thank u

    1. Hello. You need to submit all documents requires in order for lenders to process your loan application. The sooner you submit, mas mapapabilis po ang proseso.

  8. I have a cancelled card in the past. I want to apply for a housing loan to get a condo unit for my family. I’m now working overseas and earning enough. What are my chances of getting approved?

    1. Hello Gie. Cancelled credit cars won’t negatively affect your credit standing as long as there is no outstanding balance. Lenders have their own set of rules in processing loan applications, but to increase your chances, you must be able to provide and prove your capacity to pay, amount of savings, positive credit standing, and offer collateral. Again, lenders have their own criteria, but these are basics.

  9. Hello, Is it possible to apply for loan even if I’m here in Abroad? I mean, could it be under my Father’s name? Can you also tell me the interest rates for bdo? Thank you so much.

    1. Hi Wendell. Apologies, but we are not BDO so we do not know how much is the interest rate. We’re not sure as to the procedure of banks if the principal borrower is abroad, although most of them will require that you are in the Philippines since you need to personally sign several loan documents.

  10. ganndang umaga po, ano po bank ang ngaccept ng home construction loan para po sa mga ngwork sa aborad pero hindi po OFW. Maraming Salamat po

    1. Hi Albert! We’re not sure about this one. have you tried contacting specific banks of your preference and ask regarding this? 🙂

  11. Hello i have applied for personal ofw loan in bpi problem until now we dont have feedback but they said 5 to 7 days but till now nothing

    1. Hi Carmela! Unfortunately, we are not BPI so we dont have access to your application? Have you tried calling them already to get an update on the status of your loan application? 🙂

  12. Hi, just want to ask if any of the banks in the PH are allowing OFW land based to have Personal Loan?. I have hard time looking for one. I hope to get feedback. Thanks in advance! ^_^

    1. Hi Nims! Yes, banks allow this. You can check the websites of the banks to see their loan application requirements. Still, you are required to be in the Philippines and personally sign loan documents before your loan application is processed. Thanks!

  13. Good day po quiries po partner ko po seaman, magloloan sana po siya..kung yong income nya po sa isang kontract mga 500.000 dn..magkano po kaya ma aavail nya thank u po and god bless

    1. Hi! Maraming factors ang tinitignan ng lender sa pag-determina ng kung magkaano ang iga-grant na loan. Aside from monthly income, tinitignan din ang value ng collateral and credit history. The higher the income and collateral and positive credit history means higher loan amount as well 🙂

  14. hi,

    im an OFW in malaysia, gusto ko po sana mag loan for study purposes for my daughter abroad. please advise po ang mga requirements. thanks and regards

    1. Hi Robert! Banks have specific requirements when it comes to personal loans. Please check with the bank directly regarding this. Surely, everything you need to know is listed in their websites 🙂

    1. Hi! This will depend po on your “capacity to pay.” If you can show proof na you have a stable income plus other assets to back up your loan, then pwede kayo mabigyan ng mataas na loan amount.

  15. Hello po.
    Pwd mgloan ang resident sa ibang bansa. We mybwork and contrct pero wala owwa and poea. Kz d po ofw. Need lng po sa pinas

    1. Hello Jessie. We’re not sure about this po. You can check with your preferred bank if they allow residents since may policy naman po sila regarding this. Salamat!

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