4 OFW Loan with Lowest Interest from Banks and Government Agencies in the Philippines

Great news for OFWs is that government agencies and banks in the Philippines now offer OFW Loan services for a variety of purposes – be it money for your family back home, to house and car purchases.

This will help in getting a legitimate and low interest OFW Loan, which decreases the amount you have to repay.

1. Home Development Mutual Fund (Pag-IBIG) and Social Security System (SSS) OFW Loan

Pag-IBIG offers affordable housing loans to member OFWs who have contributed for 24 months or more. Borrowers should be 65 years old and below, without any outstanding, defaulted, or foreclosed Pag-IBIG loans.

2. Security Bank OFW Loan

Security Bank offers Home Loans and Auto Loans to OFWs who have worked abroad for at least 2 years and are earning P40,000 for Home Loans and P50,000 for Auto Loans.

3. BDO Unibank (BDO) OFW Loan

BDO’s Asenso Kabayan Program offers Home, Auto, and Personal OFW Loan options. You must have been employed for at least 2 years with a monthly income of P50,000 for the Auto Loan and P10,000 for all other OFW loan types. Borrowers must be 25 years old or older but not more than 65 years old upon loan maturity.

4. Philippine Savings Bank (PSBank) OFW Loan

OFWs can also avail of Own Your Home and Drive Your Car OFW Loan product. Borrowers have to be 21 years old and up to 65 years old upon loan maturity. You must have worked abroad for a minimum of 2 years with a household income of P30,000.

Via Loansolutions