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BPI Seafarer Personal Loan

A multi-purpose personal loan for seafarers.

  • icon Interest Rate
    Interest rate (p.a.)
    18.00% - 18.00%
  • icon Min. monthly income
    Loan Tenure
    0.5 - 1 year
  • icon Min. monthly income
    Approval Duration
    7-10 banking days
  • icon Min. monthly income
    Min. monthly income
    ₱ 30,000

Loan Calculator

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Monthly salary 30000
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Whats so great about BPI Seafarer Personal Loan?

  • Loan up to ₱300,000

  • Monthly payments made affordable with no pre-termination fees

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

Product Features

Min. Financing Amount ₱20,000.00
Max. Financing Amount ₱300,000.00
Min. Loan Tenure 5 months
Max. Loan Tenure 9 months
Interest Rate 1.5% add-on rate per month
Approval Duration 7-10 banking days
Debt Consolidation No

Fee & Charges

One time set up
Processing Fee ₱1,500
Stamp Duty ₱1.00 for every ₱200.00 of the loan amount
Disbursement & misc. fee N/A
Early Settlement N/A
Late Payment Charges N/A


Age requirement Age 21 - 55
Employment eligibility Must be employed for at least 1 year for officers or at least 3 years for non-officers.
Min. salary requirement ₱30,000 gross per month
Guarantor / Collateral requirement No

Other Requirements

Need to open linked bank account? Yes
Other details Loan tenure from 5 to 9 months. Figures above are for illustration purposes only. Actual monthly installment and applicable interest rate may vary. For exact figures, contact your nearest branch.

Review by iMoney

What would be the best way for a seaman overseas to borrow immediate funds for his or her family back home? A top option comes to mind, BPI Seafarer Personal Loan. As a product from one of the largest, most reputable financial providers in the country, the BPI Seafarer loan is a reliable and proven solution for sea-based OFWs to get access to additional funding for any immediate need or emergency. Being a non-collateral, multi-purpose loan, you can practically use it for any function it may serve. You can even use it to start or expand your own business. Specifically for sea-based overseas Filipino workers, you can borrow from as low as ₱20,000 up to ₱300,000 at 1.5% monthly add-on interest rate. Loan repayment starts from 5 months up to 9 months, while the loan approval process ranges from 5 to 7 banking days. To avail of this loan, you must have a minimum gross income of ₱30,000 per month and have the supporting documentation proving that you are a sea-based OFW.

Advantages Of Applying With BPI Seafarer Personal Loan

  • Specifically catering to the needs of sea-based OFWs.
  • Convenient, low loanable amount.
  • Relatively fast application and approval process.
  • Short-term loan tenure.

To get more details regarding this product, review the details on this page to check eligibility requirements and other information that can assist you on your search.

BPI Seafarer Personal Loan FAQ

How much can I borrow?

With a BPI Seafarer Personal Loan, borrow as much as ₱300,000, subject to approval.

How can I apply for a BPI Seafarer Personal Loan online?

You can apply for a BPI Seafarer Personal Loan through iMoney through this application form.

What are the BPI Seafarer Personal Loan Requirements?

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

  • At least 21 up to 55 years old upon loan maturity.
  • Must be employed for at least 1 year for officers, or, at least 3 years for non-officers.
  • Must have at least a minimum monthly income of ₱30,000.
  • Must have a BPI account.

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

For agency-based workers:

  • Government-issued photo-bearing ID.
  • POEA contract or Employment contract with boarding date.

For direct hire:

  • Government-issued photo-bearing ID.
  • Proof of remittance.
  • POEA OFW Information Sheet or POEA Overseas Employment Certificate.
  • Work Contract.

*Additional documents may be required during credit evaluation.

How does the BPI Seafarer Personal Loan Calculator work?

The BPI Seafarer 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 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.

How do I monitor the status of my BPI Seafarer Personal 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.

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.

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.

Is BPI Seafarer Personal Loan the right one for me?

For whatever purpose you may have, getting additional funds is made easy through BPI Seafarer Personal Loan. Offered by one of the top financial providers in the country, you are assured of competent, reliable, and quality customer service throughout the entire process. Whether you are experiencing a tight cash flow bind, a sudden emergency, or raising capital for your new business, this product should be on top of your options specifically if you are a sea-based OFW. As long as you fulfill the eligibility requirements, there is little doubt that you will receive the funding you need, a testament to providing full assistance to OFWs in need.

After years of working abroad, you are finally able to put up your own venture. Here are some available funding options specifically for OFWs:
South Asialink Finance Corporation Seaman Loan

Open to all overseas sea-based Filipino workers with a minimum gross monthly income of just ₱20,000, you can avail this fast cash loan without any collateral requirements. Use it however you deem fit with loanable amounts starting from a minimum of ₱20,000 up to ₱250,000. Get flexible payment terms from 6 up to 12 months for as low as 1.5% interest rate per month.

Global Dominion Financing, Inc. OFW Loan

For this personal loan from GDFI, the OFW applicant can borrow amounts starting from ₱20,000 up to a maximum of 2x their monthly salary at an interest rate of 1.3% per month payable up to 12 months. OFW applicants should be at least 21 - 60 years old and must have a gross monthly income of at least ₱20,000.

RCBC Savings Bank Personal Loan

With the RCBC Savings Bank Personal Loan, you can borrow any amount ranging from ₱50,000 up to ₱1,000,000 to use for any purpose. You are eligible to apply for a loan if you are 21 - 60 years of age and earning at least ₱20,000 per month. It offers reasonable fixed rates of 16.08% per annum with 1.40% add-on per month. Enjoy easy payment as you benefit from flexible loan tenure as early as 6 months and up to 3 years.

Having more selections to choose from is always a welcome scenario. Visit our list of online loans for OFWs and choose from a wide range of options that would fit your funding needs.