Loans for Overseas Filipino Workers (OFW)

Overseas Filipino Workers represent a significant segment of Philippine loan borrowers, and several banks and government agencies offer products specifically designed for their circumstances, including acceptance of remittance income and allotment do

Found 6 reviews

The Overseas Workers Welfare Administration (OWWA) Multi-Purpose Loan is a government-backed credit facility exclusively for active OWWA member OFWs, offering loans from PHP 10,000 to PHP 100,000 at a…

  • Below-market annual interest rate of 10%
  • Government-backed program specifically for OFWs
4.6
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BDO Unibank's OFW loan program provides Overseas Filipino Workers with access to unsecured personal credit from PHP 10,000 to PHP 1,000,000 at a fixed monthly add-on rate of 1.30%, with applications a…

  • Accepts POEA-validated OEC and employment contract as income proof
  • Loan amount up to PHP 1,000,000
4.4
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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…

  • Competitive 1.20% monthly rate among OFW lenders
  • BSP-regulated major commercial bank
4.3
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Land Bank of the Philippines, a government financial institution, provides OFW loans from PHP 10,000 to PHP 500,000 at annual rates of 10% to 12%, offering longer repayment terms of up to 60 months co…

  • Government bank – stable and trusted institution
  • Repayment terms up to 60 months
4.3
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The Development Bank of the Philippines offers an OFW-specific loan program from PHP 10,000 to PHP 300,000 at annual rates of 10% to 12%, targeted at productive and emergency purposes including busine…

  • Government development bank with OFW-focused mandate
  • Annual rates 10%-12% below commercial banks
4.2
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PSBank, a subsidiary of Metrobank Group, offers OFW personal loans from PHP 20,000 to PHP 500,000 at monthly add-on rates from 1.39%, accepting POEA-processed contracts and remittance records as incom…

  • Part of established Metrobank financial group
  • Monthly rates from 1.39% competitive for commercial OFW lenders
4.0
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Guide: Loans for Overseas Filipino Workers (OFW)

Overseas Filipino Workers represent a significant segment of Philippine loan borrowers, and several banks and government agencies offer products specifically designed for their circumstances, including acceptance of remittance income and allotment documentation. OFW loans are available from major commercial banks such as BDO and BPI as well as government institutions including OWWA, Land Bank and DBP. Loan amounts, eligibility and documentation requirements differ substantially between private and government lenders.