BDO Personal Loan
|Product Name:||BDO Personal Loan|
|Remarks:||Simple Installment Card|
|Minimum amount of loan:||PHP10,000.00|
|Maximum amount of loan:||PHP3,000,000.00|
|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 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:||YES|
|Guarantor required:||No Co-maker or Guarantor required|
|Collateral required:||No Collateral required|
|Other requirements:||No special requirement needed. 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 prsonal Loan thru eCompareMo|
|Approval duration:||Between 7 and 10 days|
|Approval duration remarks:||Get credit decision within7 to 10 banking days upon submission of complete documents|
Fees and Charges/Penalties
|Loan processing and dispersal fees:||PHP 1300 dispersal fee, plus stamp duty|
|Early repayment penalty:||pay off your outstanding balance but with a corrensponding fee|
|Late payment penalty:||5% of the unpaid installment due, PHP300 min|
Interest Rates Offered
|Product Name:||Interest rate||Effective interest rate||Interest type|
|BDO Personal Loan - 6 months||1.30% -1.30%||fixed Interest Rate|
|BDO Personal Loan - 12 months||1.25% -1.25%||fixed Interest Rate|
|BDO Personal Loan - 18 months||1.25% -1.25%||fixed Interest Rate|
|BDO Personal Loan - 24 months||1.25% -1.25%||fixed Interest Rate|
|BDO Personal Loan - 36 months||1.25% -1.25%||fixed Interest 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.