The Ultimate Guide On OFW Loan Application Online In 2017!

If you are an Overseas Filipino Worker (OFW), you can submit your loan application online for obtaining two types of OFW loan:

          1.The Land-based Loan

          2.The Sea-based Loan

With the minimum documentary requirement, you can get the loan at the lowest possible rates in the market of the Philippines; however, you have to be within the nation’s borders during the process of loan application.


You may avail this loan for various facilities:

  1. Education of Children
  2. Pre-deployment fund
  3. Vacation Funding
  4. Debt Consolidation
  5. Acquiring a Home
  6. Purchasing a Car

For processing documents related to work or for flight

For coming back home

Starting new opportunity for living

The purposes may also include various other personal emergent needs, including medical expenses.


You must be between 21 to 65 years of age and must be working overseas for the immediate past two years or more. Your income should be 50% of the loan applied for.

Documentary requirements are duly filled-in prescribed application forms, along with ID photos and signature, Valid ID issued by the government authorities such as Social Security System (SSS) or Postal ID, Special Power of Authority (SPA) if processed through representative and authenticated by the Philippine embassy.

This must be annexed with Work Contract, certificate of employment or pay slips and certified statement of Income and Expenses. To have a quicker approval of the loan, you should follow the following six tips:

1.Good Credit History

Ensure that you have no history of bounced checks, unpaid loans, and dishonest purpose of loan and credit card delinquencies.

2.Maintain a Concurrent Savings Account

Maintenance of regular deposit and withdrawal will convince the OFW loan lending companies that you are in a position to manage the timely repayment of the loan. The lenders give you money to get it back with a reasonable amount of return in the shape of interest.

3.Provide Factual Information Only

Advancing of loans are subjected to legal jurisdiction. Hence the lenders want the information furnished by you, to be based on legally identifiable facts. Therefore, instead of taking things for granted, ensure that there are consistencies in the information related to your finances, mortgages, and employment.

4.Realistic Loan Principal

Determine your actual fund requirement and tally it with your expected cash-flow, based on your income and expenditure. If you don’t do it yourself, the lender may compute the realistic one and may advance you an amount, less than applied for, or It may even decline the loan

5.Be Frugal

If you apply for many loans at a time without giving due consideration to your repaying potentialities, the lender may smell a rat and may not be prepared to take a higher credit risk.

6.Compare the Terms & Interest Rates

This will save you a lot initially and also in the repayment of the loan.

Favorable Loan Lending Companies for the OFWs

The following are the OFW Lending companies:

  • The Philippine National Bank (PNB)
  • Bank of the Philippine Islands (BPI)
  • Banco De ORO (BDO)
  • China Bank
  • United Coconut Planter Bank (UCPB)

Double check the criteria with each institution before making an application for a loan here.

Kelle Maurer

Kelle Maurer