- Interest rate (p.a.)
15.60% - 15.60%
- Loan Tenure
1 - 1 years
- Approval Duration
1-3 working days
- Min. monthly income
What's so great about Global Dominion Financing, Inc. OFW Loan?
- Loan approval in 1-3 days
- No collateral required
- Get approved loan amount of up to 2x your monthly income
|Min. financing amount||₱20,000.00|
|Max.financing amount|| Up to 2x of monthly income|
|Min. loan tenure||12 months|
|Max. loan tenure||12 months|
|Interest rate||1.3% per month|
|Approval duration||1-3 working days|
Fees & Charges
|One time set up|
|Processing fee||5.5% of approved loan amount|
|Stamp duty||Loan with less than 12 months term = Approved loan/200 × 1.50 x terms/365 days while loan with more than 12 months term = Approved loan/200 x 1.50|
|Disbursement & misc. fee||N/A|
|Late payment charges||₱750 per month up to 15% of the monthly amortization|
|Age requirement||Age 21 - 60|
|Employment eligibility||At least 3 months of employment contract|
|Min. salary requirement||₱20,000 gross per month|
|Guarantor / Collateral requirement||Yes|
|Need to open linked banked account?||No|
|Other details||Method of Payment - PDC's or over-the-counter payment|
Product Review by
Primarily addressing the needs of Filipinos working overseas who are looking for additional funds, GDFI’s no collateral OFW loan is open to overseas Filipino workers who are presently in the country. For OFWs who are currently abroad, you can also consider getting the Pinoy Abroad loan that GDFI is also offering. Aside from being an OFW with a valid contract, those applying for a loan are required to have a co-borrower preferably an immediate family member residing in the Philippines. The overseas worker should also have at least a 3 month employment contract with a minimum ₱20,000 gross monthly salary. If eligible, you can loan up to twice the amount of your monthly income and payable up to 12 months. The interest charge can be as low as 1.3% per month. GDFI promises fast turnaround time when it comes to loan approvals so you can expect 1 to 3 days in total processing time from application to loan disbursement.
Advantages Of Applying With Global Dominion Financing, Inc. OFW Loan:
- Loanable amount up to twice your monthly salary.
- Fast approval process ranging from 1 to 3 working days.
- No collateral required.
If you are an OFW looking to immediately borrow funds, take a look at the details below to see if this product is right for you.
Global Dominion Financing, Inc. OFW Loan FAQ
How much can I borrow?
You may borrow from as low as ₱200,000 to as much as 2x your monthly income.
What are the Global Dominion Financing, Inc. OFW Loan Requirements?
An applicant must fulfill GDFI's eligibility criteria for an OFW loan:
- Applicant must have at least 3 months employment contract
- Must be at least 21-60 years old.
- Has an immediate family member in the Philippines as co-borrower
- Minimum basic salary equivalent to at least ₱20,000
Consequently, after filling out an application form, the following documents are necessary:
- Latest Contract of Employment
- Copy of VISA
- Photocopy of OEC (POEA Overseas Employment Certificate)
- Plane ticket or Flight Details
- Latest Electric or Water Bill. If not in the name of the borrower, you must submit additional proof of residence. (Any documents under your name and with your current address)
- Proof of Remittance (for Balik-Mangagawa)
For co-borrowers, here are the necessary requirements:
- Any 2 valid ID’s
- Marriage contract (if married)
- 2 pcs. 2×2 picture
- Latest and Original Electric or Water bill
*Additional documents may be required during credit evaluation.
How does the Global Dominion Financing Incorporated Loan Calculator work?
The Global Dominion Financing Incorporated Loan calculator computes the estimated cost of borrowing and amount of payment per installment. Input the desired loan amount to automatically get the estimated monthly amortization for different tenors.
Is Global Dominion Financing Incorporated OFW Loan right for me?
Whether you are an overseas Filipino worker currently based abroad or if you’re an OFW presently in the country, Global Dominion Financing, Inc. has a financial product that will fit you. As an OFW currently residing in the country, you can avail of GDFI’s OFW loan as long as you can provide the necessary documentation such as your latest Contract of Employment (at least 3 months contract), and an immediate family member as your co-borrower. You must also have at least ₱20,000 basic monthly salary. If you have all of these requirements in order and you find all the terms and conditions amicable, then you can definitely proceed with your application.
For OFWs, there are still other alternatives available to loan from. Below are some options that you should take a look as well:
Applying for an OFW loan with South Asialink Credit Corporation is as easy as it can be. With no credit card required, the applicant can get approved in as fast as just 1 day. As a requirement, the OFW should have a minimum ₱17,000 monthly income and at least 21 to 59 years of age. The loan tenure ranges from 6 up to 18 months with loanable amounts starting from ₱20,000 up to ₱250,000. The interest rate is 2.5% per month.
With no collateral requirement, the BPI land-based OFW personal loan could be a viable option for your immediate funding needs. Specifically for OFWs, you can loan starting from ₱20,000 to as much as up to ₱1,000,000 without the need for any collateral. It also comes with flexible payment terms of 1 up to 3 years. The borrower is required to be employed for at least 2 years and must have a minimum gross monthly income of ₱25,000. He or she must also be 21 to 60 years of age. The interest rate starts at 25% per annum.
With a monthly income requirement of ₱30,000, the BPI Seafarer personal loan is definitely one of the better funding options for Sea-based OFWs available in the market today. You can borrow amounts starting from ₱20,000 up to ₱300,000. Repayment terms start as early as 5 months up to 9 months. The borrower should be employed for at least 1 year for officers or at least 3 years for non officers and must be at least 21 - 55 years of age. The interest rate starts at 18% per annum.
Receive additional funds that an OFW could benefit from, whether they’re still in the country or already abroad. For more information, please visit our list of non-collateral online loans for OFWs and select the best one based on your need.