BPI OFW Loan – review 2026

Name: Review BPI OFW Loan
Item: BPI OFW Loan
Rating: 4.3
Author: Finatino.com

4,3 / 5

Bank of the Philippine Islands offers OFW loans from PHP 20,000 to PHP 500,000 at a fixed monthly add-on rate of 1.20%, one of the lowest available from a major Philippine commercial bank for Overseas Filipino Workers. Applications can be lodged at BPI branches or through accredited BPI overseas offices, with income documented using POEA employment contracts and remittance records. A Philippine-based co-borrower is required, and loan proceeds are credited to a BPI account in the Philippines.

Pros

Fixed monthly add-on rate of 1.20%, among the lowest OFW loan rates from a major bank
Accepts POEA contracts and remittance records as income proof
Available via accredited BPI overseas offices as well as domestic branches
Loan amounts up to PHP 500,000

Cons

Mandatory Philippine-based co-borrower adds a coordination step for the OFW applicant
Minimum loan amount of PHP 20,000
Overseas processing may take longer than a standard domestic application

Bank of the Philippine Islands offers OFW loans from PHP 20,000 to PHP 500,000 at a fixed monthly add-on rate of 1.20%, among the lowest rates available from a major Philippine commercial bank for this segment. Applications can be lodged at BPI branches in the Philippines or through accredited overseas offices, with income verified using POEA employment contracts and remittance records.

Who it suits

OFWs with a documented contract and consistent remittance history who want the lowest available bank rate for this category are the best fit. A Philippine-based co-borrower is required, which means the product works best for OFWs who have a trusted family member able to act on their behalf locally.

Applying and repayment

Applicants submit a POEA-validated employment contract, remittance records and identification, either abroad through an accredited BPI office or via a co-borrower in the Philippines. Approved proceeds are credited to a BPI account in the Philippines, with repayment handled through fixed monthly installments.

Requirements

Active OFW status with a valid POEA employment contract
Filipino citizen, generally 21 to 65 years old at loan maturity
Philippine-based co-borrower required to help process and receive funds
Remittance records demonstrating consistent income from overseas employment
Valid passport, government ID and proof of Philippine residence for the co-borrower

Provider contacts

Name: Bank of the Philippine Islands
Address: BPI Building, Ayala Avenue corner Paseo de Roxas, Makati City, Philippines
Reg. number: BSP Commercial Bank License
Website: https://www.bpi.com.ph
Online application: Apply now →
Regulator: Bangko Sentral ng Pilipinas (BSP)

Information in this review is based on publicly available sources and is for informational purposes only. Finatino.com is not a financial product broker. Before signing any contract, we recommend reading the provider's terms and conditions.