- Interest rate (p.a.)
18.00% - 18.00%
- Loan Tenure
0.5 - 1 years
- Approval Duration
Up to 1-3 working days
- Min. monthly income
What's so great about South Asialink Finance Corporation Seaman Loan?
- As low as 1.5% interest rate per month
- Get approved in as fast as 1 day
- No collateral required
|Min. financing amount||₱20,000.00|
|Max.financing amount|| ₱250,000.00|
|Min. loan tenure||6 months|
|Max. loan tenure||12 months|
|Interest rate||1.5% per month|
|Approval duration||Up to 1-3 working days|
Fees & Charges
|One time set up|
|Processing fee||5.5% of loan amount|
|Disbursement & misc. fee||N/A|
|Early settlement||Rebates are computed by Accounting Department & subject for approval|
|Late payment charges||₱1,500 or 15% of monthly amortizations (whichever is higher|
|Age requirement||Age 21 - 59|
|Employment eligibility||At least 3 months of employment contract|
|Min. salary requirement||₱20,000 gross per month|
|Guarantor / Collateral requirement||No|
|Need to open linked banked account?||No|
|Other details||Method of Payment - through ML or Cebuana Lhuillier payment centers|
Product Review by
South Asialink Finance Corporation Seaman Loan FAQ
South Asialink Finance Corporation offers a wide variety of loans that can cater to every consumer. Ranging from OFW, Seaman’s, and Salary Loans, to Car, Truck, and Business Loans, they have a specific financial solution for whatever type of funding is required by their client. While offering very competitive rates and reasonable loan tenure, their main goal is to provide monetary assistance that is accomplished in an easy, timely, and hassle-free manner. For their Seaman’s Loan, you can borrow from as low as ₱20,000 up to ₱250,000 without any collateral. The entire process is conveniently done online, from application to disbursement, straight to your bank account, with approval in as fast as 1 day. You can pay the loan back as early as 6 months, up to 1 year and you have to earn at least ₱15,000 per month to qualify. The interest rate starts at 1.5% per month.
Advantages Of Applying With SAFC Seaman Loan:
- No collateral required.
- Low monthly income requirement.
- Fast 1 - 3 days approval.
- As low as 1.5% interest per month.
- Flexible loan tenure of 6 up to 12 months.
If you want to know more, you can check out the details below.
How much can I borrow?
With an SAFC Seaman Loan, borrow as much as 2x of your monthly income, subject to approval.
What are the South Asialink Finance Corporation Seaman Loan Requirements?
An applicant must fulfill SAFC's eligibility criteria for a loan:
- At least 21 years old; 59 years old upon loan maturity
- Must have a minimum salary of at least ₱20,000
- No derogatory records with banks and other financing company
- Rank and file employees up to managerial level is allowed.
- At least 3 months of employment contract.
Consequently, after filling out an application form, the following documents are necessary:
- Basic Documentary Requirements
- Copy of latest contract of deployment with POEA validation
- Seaman Registration Certificate
- Seaman's Book
- Embarkation History
- E-registration from POEA
*Additional documents may be required during credit evaluation. Linked bank account is required for all those with ₱250,000 and above loan approval.
How does the South Asialink Finance Corporation Seaman Loan Calculator work?
The SAFC Seaman 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.
If you are an OFW or a Seaman in need of immediate funds, there are still other loan options available to you. Check out the following products below and see if it matches your financial requirements:South Asialink Finance Corporation OFW Personal Loan
GDFI OFW Loan
BPI Seafarer Personal Loan
Whether you’re going to use it to fund your business, pay for your outstanding bills, or to resolve urgent financial matters, there are now a variety of personal loan options available for OFWs or Seaman workers. To find which one is ideal for your needs, check out our list of online cash loan providers available on our site and apply easily online.