Reviews
OFW Loans Updated: 14. 04. 2026

BPI OFW Loan – review 2026

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

  • Competitive 1.20% monthly rate among OFW lenders
  • BSP-regulated major commercial bank
  • Accepts remittance records as income evidence
  • Funds available in Philippines for beneficiary
  • Established OFW lending program

Cons

  • Maximum loan PHP 500,000 lower than BDO OFW program
  • Requires in-person application or overseas office
  • Co-borrower required in Philippines
  • Processing takes 7-10 banking days
  • Only land-based and sea-based OFWs with POEA documentation accepted

Requirements

  • Active OFW aged 21-60 with valid POEA employment contract
  • Minimum net monthly income USD 400 or equivalent
  • Valid passport, OEC and work visa
  • Co-borrower (spouse or parent) residing in Philippines
  • 6 months remittance history to Philippines

Company information

Name
Bank of the Philippine Islands
Address
BPI Building, Ayala Avenue corner Paseo de Roxas, Makati City, Philippines
Web

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.