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BPI Land-based OFW Personal Loan

OFW collateral-free loan with low interest rate.

  • icon Interest Rate
    Interest rate (p.a.)
    25.03% - 25.74%
  • icon Min. monthly income
    Loan Tenure
    1 - 3 years
  • icon Min. monthly income
    Approval Duration
    7-10 banking days
  • icon Min. monthly income
    Min. monthly income
    ₱ 25,000

Loan Calculator

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Monthly salary 25000
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Whats so great about BPI Land-based OFW Personal Loan?

  • Get approved up to ₱1,000,000 non-collateral loan

  • Pay monthly amortization through automatic debit facility - no need for PDC's or over-the counter payments

  • Flexible terms from 12 months - 3 years

Product Features

Min. Financing Amount ₱20,000.00
Max. Financing Amount ₱1,000,000.00
Min. Loan Tenure 1 year
Max. Loan Tenure 3 years
Interest Rate 25.03%-25.60% per annum
Approval Duration 7-10 banking days
Debt Consolidation No

Fee & Charges

One time set up
Processing Fee ₱1,500.00
Stamp Duty ₱1.00 for every ₱200.00 in excess of ₱250,000 of the loan amount
Disbursement & misc. fee N/A
Early Settlement N/A
Late Payment Charges N/A


Age requirement Age 21 - 60
Employment eligibility Must be employed for at least 2 years
Min. salary requirement ₱25,000 gross per month
Guarantor / Collateral requirement No

Other Requirements

Need to open linked bank account? Yes

Review by iMoney

Bank of the Philipine Islands or BPI as commonly known offers a personal loan product that caters specifically to land-based Overseas Filipino Workers (OFWs). It has been a known predicament that OFWs are often faced with, having a hard time applying and getting approved on their loan application. BPI addresses this concern with a non-collateral loan that doesn’t require any PDCs or over the counter loan payments. Instead, the amortization will be through an auto-debit facility for hassle free payment. With a loan amount ranging from ₱20,000 to ₱1,000,000, it is more than enough to address immediate cash needs or urgent funding requirements to start or continue running your business. The whole application and approval process takes about 5 to 7 banking days with flexible repayment terms starting from 12 months up to 3 years. Interest rate starts at 25.03% per annum. To apply for this loan, you have to prepare supporting documents showing that you are a land-based OFW along with a required gross monthly income of at least ₱25,000.

Advantages Of Applying With BPI Land-based OFW Personal Loan

  • Specialized loan that addresses urgent cash needs of land-based OFWs.
  • Flexible repayment plan.
  • High loanable amount.
  • Reputable and reliable financial provider with nationwide coverage.

Get all the information you need on this page and review the eligibility criteria and product details that can help you make an informed decision based on your needs.

BPI Land-based OFW Personal Loan FAQ

How much can I borrow?

With a BPI Land-based OFW Personal Loan, borrow as much as ₱1,000,000, subject to approval.

What are the BPI Land-based OFW Personal Loan Requirements?

An applicant must fulfill BPI’s eligibility criteria for a loan:

  • At least 21 up to 60 years old upon loan maturity.
  • Must be employed for at least 2 years.
  • Must have at least a minimum monthly income of ₱25,000.
  • Working or residing within 30 kilometers from the nearest BPI branch.

Consequently, after filling out an application form, the following documents are necessary:

For agency-based workers:

  • Two (2) valid government-issued photo-bearing IDs.
  • Latest and unexpired signed POEA contract; OR
  • Employment contract with boarding date.

For direct hire:

  • Two (2) valid government-issued photo-bearing IDs.
  • Latest 3 months Proof of remittance.
  • Latest and Unexpired POEA Validated Information Sheet; OR.
  • Latest POEA Overseas Employment Certificate (OEC) AND latest Employment Contract (In lieu of OEC print-out: OEC Exemption Screenshot with OEC BM Online Profile); OR
  • Consularized COE (If remitter is permanent resident in the country).

How does the BPI Land-based OFW Personal Loan Calculator work?

The BPI Land-based OFW Loan calculator computes the estimated cost of borrowing and amount of payment per instalment. Input the desired loan amount to automatically get the estimated monthly amortization for different tenors.

I don't have a BPI account. Can I still apply for a Personal Loan?

BPI can still process your loan application. Once your application is queued for approval, BPI will be requesting you to open an account with them. This is because your loan proceeds will be credited to your BPI account, and your monthly installment will also be automatically debited from this account.

How do I monitor the status of my loan application?

Updates on your loan application shall be sent thru SMS to the mobile number your have provided in your application. You may also call ‎(+632) 889-10000 to ask for updates.

When will be the due date of my monthly installment? Can I select a due date?

Your monthly due date will be equivalent to the date when your loan is booked. For regular personal loan, the first installment shall start 30 days after your loan booking date.

How can I pay my BPI consumer loan?

You can conveniently pay your monthly installments via automatic debit (ADA) from your BPI deposit account. The ADA will run monthly on your scheduled due date.

Can I pay my BPI loan in advance?

Yes, you can pay your BPI loan in advance by way of early loan pay-off which can be processed through a BPI branch.

I already signed my loan documents. When will the loan proceeds be credited to my account?

A personal loan application is processed within 5 to 7 working days upon receipt of complete documents.

I am an OFW and currently abroad. Can I apply?

You can submit a Personal Loan application while you are abroad through their online application form. However, once the loan is approved, BPI requires their clients to be physically present to sign the loan documents in any BPI branch in the Philippines.

My Personal Loan application has been approved, but I am currently abroad. How can I proceed with my loan availment?

Customers are required to sign the loan documents in any BPI branch in the Philippines. The approval of your loan shall only be valid for one month from the date of approval. You may still avail of the loan, provided that you will be available to sign your loan documents within approval validity.

I am a natural born Filipino but has acquired different citizenship. Can I apply for a Personal Loan?

You may continue to apply provided your are currently residing in the Philippines. Aside from the regular requirements, you will be asked to present a valid government-issued Alien Certificate Registration (ACR) ID. Your application will be subject to credit evaluation.

I am a foreigner married to a Filipino. Can I apply?

BPI Personal Loan is currently only available to Filipino citizens who are residing in the Philippines.

Is BPI Land-based OFW Personal Loan the right one for me?

Being a multi-purpose loan that caters specifically to the needs of a land-based overseas Filipino worker, the borrowing amount that this loan offers is enough to cover any urgency concerning your financial situation. With a flexible loan tenure, it also allows you to make the necessary adjustments that will make loan repayments lighter on your budget. The interest rate is also competitive compared to other loans designated to OFWs and considering BPI as your financial partner, you are guaranteed to receive quality customer service for any inquiries and concerns you may have. If you are a land-based OFW looking for additional cash from a well-renowned bank brand, then you should highly consider this option.

For Filipino workers overseas, immediate cash needs could be critical. Here are personal loans that can assist OFWs abroad:
South Asialink Credit Corporation OFW Personal Loan

If you are an overseas Filipino worker with an urgent need of additional funds, get quick approval as fast as 1 day with South Asialink OFW Personal Loan. With a low, gross income requirement of just ₱17,000 a month, you can borrow from ₱20,000 up to ₱250,000 with interest rate of 2.5% per month. Pay as early as 6 months up to a maximum of 18 months. Eligible applicants should be at least 18 - 59 years of age upon loan maturity.

BPI Land-based OFW Personal Loan

Specifically offered to land-based Overseas Filipino Workers, you can get additional funds starting from ₱20,000 up to ₱1,000,000 without the need of any collateral. With flexible loan repayment terms ranging from 12 months up to 36 months, you have enough elbow room to plan your finances. The interest rate starts at 25.03% per annum and you must have a gross monthly income of ₱25,000 to be eligible.

Global Dominion Financing, Inc. OFW Loan

Another option that offers fast additional cash specifically for OFWs is GDFI’s OFW Loan. There is no need for any collateral and the approval process takes only 1 to 3 days. You can borrow a minimum loan amount of ₱20,000 up to twice your monthly salary or equivalent with an interest rate starting at 1.3% per month. Loan repayment is up to 12 months. You can avail of this loan if you have a gross monthly income of ₱20,000 with supporting documentation showing that you are an OFW.

If you are interested at other available options, you can visit our complete list of regular and OFW personal loans in the Philippines and compare which package is best suited to your needs.