BDO Personal Loan
Pay your immediate financing needs such as debt consolidation, travel, education, home renovaion or any medical emergencies with BDO personal loan. Take advantage of the low interest rates, flexible loan amount, fixed monthly payment terms and hassle-free application online.
eCompareMo lets you compare all the personal loan rates available on the market to help you find the best one for your needs.
You can also check out other BDO Loan products here.
|Product Name:||BDO Personal Loan|
|Remarks:||Simple Installment Card|
|Minimum Amount of Loan:||PHP10,000.00|
|Maximum Amount of Loan:||PHP1,000,000.00|
|Minimum Loan Tenure:||6 months|
|Maximum Loan Tenure:||36 months|
|Early Repayment:||Early payment allowed on your outstanding loan|
|Payment Options:||Pay your loan thru issuance of Post dated Checks or Automatic Debit Arrangement|
Eligibility and Requirements
|Age Range of Borrower:||21-70 years old|
|Minimum Annual Income:||PHP180,000.00|
|Income Requirement Remarks:||Low income requirement of only PHP10,000.00 gross monthly income|
|Employment / Work Status:||Permanent Employee for 1 year / 2 years Business Operations for Self-employed / 1 year of Practice for Professionals / Government Employee for 1 year|
|Borrower has to have Credit Card:||NO|
|Guarantor Required:||No Co-maker or Guarantor required|
|Collateral Required:||No Collateral required|
|Other Requirements:||Just bring your valid id's and proof of income|
|Need to Open Linked Bank Account:||NO|
Application and Approval
|Application Channel:||Apply for BDO personal loan thru eCompareMo|
|Approval Duration:||Between 7 and 10 banking days|
|Approval Duration Remarks:||Get credit decision within 7 to 10 banking days upon submission of complete documents|
Fees and Charges/Penalties
|Loan Processing and Dispersal Fees:||PHP1,300.00 dispersal fee, plus stamp duty|
|Early Repayment Penalty:||Pay off your outstanding balance but with a corresponding fee|
|Late Payment Penalty:||5% of the unpaid installment due or PHP300.00 minimum|
Interest Rates Offered
|Product Name:||Interest Rate||Effective Interest Rate||Interest Type|
|BDO Personal Loan - 6 months||1.30%||Monthly Add-On Rate|
|BDO Personal Loan - 12 months||1.25%||Monthly Add-On Rate|
|BDO Personal Loan - 18 months||1.25%||Monthly Add-On Rate|
|BDO Personal Loan - 24 months||1.25%||Monthly Add-On Rate|
|BDO Personal Loan - 36 months||1.25%||Monthly Add-On Rate|
What are the required documents to apply for a BDO personal loan?
- A photocopy of latest BIR Form 2316
- Original printed Certificate of Employment and Income (COEI) issued in the last three (3) months that indicates status, length of service, and breakdown of compensation
Self-Employed and Professionals:
- Photocopy of Registration of Business Name
- DTI Registration Form (for Single Proprietorship)
- SEC Registration Form (for Partnerships)
- Photocopy of latest Audited Financial Statements for the last two (2) years
- Photocopy of Bank Statements for the last six (6) months (optional)
- Proof of Identification: at least two (2) government issued IDs with valid photo. Copy of front and back.
What are the modes of payment?
- You can pay your monthly amortization via auto debit from your BDO bank account, or over-the-counter bank deposit.
What are the eligibility requirements for BDO personal loan application?
- Applicant must be a Filipino citizen or a foreigner living in the Philippines for a period of more than two (2) years.
- He/she must at least be 21 years old at the time of application but no more than 70 years old upon loan maturity.
- He/she must have at least one (1) residential or business landline.
- Employees must be staying with the company for at least one (1) year.
- Self-employed individuals must be a sole proprietor or majority part-owner of a company. The company must be operating for at least two (2) years.
- Professionals must be doing private practice for at least one (1) year.
How do I claim my BDO personal loan proceeds?
- Your loan proceeds will be credited to your BDO bank account.
If you're in search for more personal loan offers in the Philippines, you may want to consider the following:
HSBC Personal loan provides low interest rates cash loan at 1.29% with maximum amount of PHP500,000. Flexible payment terms starting from 6 months up to 36 months. Only PHP15,000 minimum income to be eligible for this loan.
Enjoy easy financing options and flexible payment terms with RCBC MyCash Personal Loan. Minimum required income is PHP20,000 to be eligible to apply for a loan from PHP50,000 to PHP1,000,000. Loan tenure ranges from 6 months up to 3 years at 1.50% effective monthly rate.
Maybank Enable Personal Loan offers highly competitive rates and easy payment plan for those individuals with immediate cash needs. With a low minimum required income of just PHP15,000 you can avail of a loan amount of up to PHP1,000,000 payable up to 3 years.