• BDO Personal Loan

    BDO Personal Loan

    BDO Personal loan offers unbelievably low interest rates and relaxed repayment options. You can use it to finance any of your personal needs such as home repair or renovation, education, buying furniture, home appliances, gadgets, an international holiday, debt repayment, any special event, or even a health contingency.

    You’re probably eligible for an BDO Personal Loan if you are

    BDO Personal Loan Minimum Age

    At least 21 years old

    BDO Personal Loan Maximum Age

    Less than 70 years old

    BDO Personal Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    BDO Personal Loan Minimum Income

    Earn more than the minimum
    income required

    Your BDO Personal Loan amount eligibility is based on these factors

    BDO Personal Loan Minimum Salary

    Minimum income required
    P10000 per month

    BDO Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is P1,000,000

    BDO Personal Loan EMI

    EMIs of other loans lower
    your eligibility

    Increase your eligibility for Bank Personal Loan amount by these steps

    BDO Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    BDO Personal Loan Tenure

    Choose longer tenure loan up to 3 years

    Documentation needed to apply for BDO Personal Loan

    • 1.Copy of your Passport,Driver's License,Postal ID,Voters ID,NBI Clearance,PRC ID
    • 2.Documentation for salaried applicants:
      • photocopy of the latest BIR Form 2316 or W2 signed by employer's authorized representative
      • Form BE / EA / EPF statement
      • Photocopy of last full month pay slip
    • 3. Documentation for self Employed applicants:
      • Photocopy of Registration of Business Name
      • Photocopy of latest ITR and W4 with BIR/Bank Stamp.

    BDO Personal Loan DetailsUpdated on 24 Oct 2016

    BDO Personal Loan Details
    Interest Rate EIR - 25.98% to 26.76%(p.a)
    Tenure 3months - 3 years
    Early Settlement Charges Nil

    Why opt for a BDO Personal Loan?

    When you choose a Personal loan from BDO, you can be assured that you are going to enjoy the lowest interest rates and the flexibility of easy repayment. This loan could cater to any of your financing needs such as medical emergencies, debt consolidation or balance transfer, vacation, education or even upgrading or renovating your home.

    Types of Personal Loan offered by BDO

    The Asenso Kabayan Program is the Personal Loan offered by BDO.

    BDO Asenso Kabayan Unsecured Personal Loan: This loan is a non-collateral, multi-purpose personal loan for OFW’s with a fixed income.

    BDO Asenso Kabayan Secured Personal Loan: Here, the loan for OFWs is offered against an individual or joint account deposits maintained by BDO. This will act as security against the loan issued.

    Features and Benefits of BDO Personal Loan

    Benefits are aplenty when you opt for the Asenso Kabayan Program at BDO.

    • Flexible Loan Amounts: You can choose the loan amount required anywhere from a minimum of P10,000 and a maximum of P3,000,000. For the Asenso Kabayan secured personal loan, there are 2 prerequisites:
      • If you are holding a Peso account as security, then you can borrow up to 90% of the deposit account balance
      • If you are holding a Dollar account as security, you can borrow up to 80% of the deposit account balance. The buying rate of that particular day will be used to determine the peso equivalent.
    • Fixed Monthly Payments/EMIs: After taking the loan, you will be paying the same fixed amount every month with any of the flexible payment tenors mentioned below:
      • 3 months (for Unsecured loan)
      • 6 months
      • 12 months
      • 18 months
      • 24 months
      • 36 months
    • Top Up Loan Feature: Sometimes you may need an additional loan because the requirement might have changed. This feature enables you to secure and receive an additional personal loan by submitting new income documents. For the secured and unsecured Asenso Kabayan Personal Loan, the already existing personal loan with a good standing qualifies for the application of a new loan or top up plan.
    • Convenient Application: There is no one specific branch that you have to go to, to apply for or avail the loan. You can submit your application at any BDO branch in the country. For all Kabayans who are working abroad, you have ease of access too. For the secured loan, you will find the application form, deed of assignment form, special power of attorney, auto debit arrangement form and the beneficiary information form online. For those applying for the unsecured loan, you will find the application form, authorization form, auto-debit arrangement form and beneficiary information form online as well.

    Interest Rates for BDO Personal Loan

    Tenor 6 months 12 months 18 months 24 months 36 months
    Factor Rate 0.179667192 0.095836960 0.068058532 0.054167533 0.040279967
    Monthly Add-on Rate 1.30% 1.25% 1.25% 1.25% 1.25%
    Effective Rate/Annum 26.27% 26.63% 26.76% 26.58% 25.98%

    Asenso Kabayan Program - Unsecured

    Tenor 6 months 12 months 18 months 24 months 36 months
    Factor Rate 0.186667698 0.103336822 0.075560430 0.061669382 0.047778078
    Monthly Add-on Rate 2% 2% 2% 2% 2%
    Effective Rate/Annum 40.05% 41.71% 41.51% 40.89% 39.43%

    Asenso Kabayan Program - Secured

    Tenor 6 months 12 months 18 months 24 months 36 months
    Factor Rate 0.175067218 0.091237975 0.063358579 0.049471099 0.035682596
    Monthly Add-on Rate 0.84% 0.79% 0.78% 0.78% 0.79%
    Effective Rate/Annum 17.08% 17.07% 17.06% 17.06% 17.06%

    Eligibility Criteria for BDO Personal Loan

    To be eligible to take a personal loan from BDO, the applicant must fulfil the following criteria:

    • Must be a Filipino citizen or a foreigner who has been residing in the Philippines for more than 2 years.
    • At the time of application, the applicant must have completed 21 years of age and not more than 70 years of age upon maturity.
    • For salaried employees, the minimum gross annual income must be P120,000 and P400,000 for those who are self-employed.
    • Salaried employees must have completed at least 1 year tenure with the company.
    • For self-employed professionals, must be the sole proprietor or major part owner of the company that has been operating for at least 2 years.
    • Other professionals, must have been in private practice for at least 1 year.
    • The applicant’s office or residence must be within BDO serviceable area.
    • The applicant must have at least 1 landline at the residence or at the office.

    BDO Personal Loan Requirements

    Below are the list of documents required while applying for a personal loan at BDO:

    Proof of income for salaried employees

    • A copy of the latest BIR Form 2316 or W2 signed and attested by the employee’s representative. This is a mandate document.
    • A copy of the last month’s payslip OR the Original Certificate of Employment and Income issued not later than 3 months ago. This document must mention the breakdown of employee’s compensation and and length of service of the employee.

    Proof of income for self-employed/Professionals

    • A copy of the Registration of Business Name
    • For sole proprietorship issued by the Department of Trade and Industry (DTI)
    • For partnerships issued by the Securities and Exchange Commision (SEC), along with,
      • A copy of the latest ITR and W4 with Bank Stamp/BIR
      • A copy of the latest Audited Financial Statements for the last 2 years
      • A copy of the applicant’s bank statements for the last 6 months
      • A copy of any 2 valid and photo-bearing proofs of identification, front and back, signed and sealed by an official authority. These proofs could be driver’s license, passport, postal ID, voter's ID, senior citizen card, OFW ID, social security system card, company ID’s issued by private institutions registered and supervised either by SEC, IC or BSP etc.

    For Resident Foreigners

    • Certificate of Employment or a copy of the employment contract
    • Letter from the Embassy
    • A copy of any one of the following -
      • ACR or ICR or ACR1
      • Valid Visa or Work Permit
      • Valid passport with resident Visa

    How to Calculate Loan Repayment for BDO Personal Loan?

    In today’s fast-paced world, while applying for a loan, one doesn’t want to wait for the bank to process their documents and then get to know what the loan eligibility or loan repayment amount will be every month. There are easy calculators available online for us to check what the loan repayment amount would be every month.

    Bankbazaar.ph offers all users an easy to use, unique finance tool that helps everyone understand how much loan they are eligible for and what the loan repayment amount would be every month even before applying for the loan. Handy tools such as these help with efficient financial planning and helping you choose an ideal tenure to repay your loan thereby aiding the planning of your expenses, specially the repayment amount every month.

    The Personal Loan Calculator by Bankbazaar enables users to add the amount of money they wish to borrow as the loan, the loan tenor that they prefer and the different rates of interests offered by banks at the time of enquiry. This calculator instantly calculates and displays the monthly repayment liability on the loan. Essentially, this tool helps understand the monthly outflow of money towards the loan.

    News About BDO Personal Loan

    • BDO Unibank Makes 13% Profit in Loans and Deposits in the First Semester

      Philippines largest lender, BDO Unibank pulls in a net profit of Php13.2 billion in loans and deposits by improving its core business and onetime gain through consolidating its insurance operations.

      BDO Unibank which is the banking arm of the renowned Sy family-led SM group had said that the bank expanded its loan book year after year by 21% to the end of this semester reaching Php1.4 trillion which has outpaced the entire industry’s loan growth. The net interest income and the total deposits saw a rise of 17% year on year to reach Php31.7 billion and Php1.8 trillion respectively. Fee based service income increased by 18% to Php10.6 billion. Income from trading and foreign exchange on the other hand normalized compared to a year ago with contributions totaling Php2.9 billion this year which is lower than the Php5.27 billion contributed last year. Other income including the one time gain through consolidating life insurance operations of the bank reached 8.6 billion.

      02nd August 2016

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