BDO Personal Loan

BDO Personal loans

When talking about Personal Loans, the reason why a borrower will need one is at their discretion. Typically, when one needs financing, it is because either of the following reasons:

• Home Renovation / Upgrades
• Tuition / Education
• Furniture
• Appliances / Electronic Gadgets
• Vacation / Travel
• Balance Transfer / Debt Consolidation
• Special Events
• Health and Wellness
• Medical Emergencies

Whatever the reason might be, BDO Personal Loan is the financing answer that Filipinos are looking for. 

BDO Personal Loan Features

• Loan Amount: Php10,000 to Php1,000,000
• Loan Term: 6months to 36months
• Interest Rates: 
  • Monthly add-on rates: 1.25% to 1.30%
  • Effective Rate: 25.98% to 26.76%
• Loan Availability: Loan proceeds can be credited to your BDO Savings / Current Account or can be disbursed via BDO Manager’s Check.

• Payment Channels: 
  • Automatic Debit Arrangement (ADA)
  • Over-the-Counter (OTC) at any BDO Branch nationwide.

Eligibility

• Must be 21 years old at the time of application but not more than 70 years old upon loan maturity
•  Applicant must be a Filipino citizen or a foreigner who is a resident of the Philippines
•  Minimum Gross Fixed Annual Income Requirement:
  • P180,000 for Salaried Employees
  • P400,000 for Self-Employed / Professionals
•  Regular employee or self-employed with business operating at least two (2) years
•  One (1) landline number in either residence or place of work, or mobile number (postpaid or prepaid)
•  Residence or office address must be within any area where a BDO branch is located

Requirements

• Proof of Income for Salaried Employees
  • Photocopy of the latest Income Tax Return duly stamped as received by the Bureau of Internal Revenue (BIR) or BIR Form 2316 signed by employer’s authorized representative (MANDATORY)
  • Plus any of the following: Latest full-month’s payslip/s ; Original Certificate of Employment indicating status, service tenure and compensation breakdown

• Proof of Income for Self-Employed/Professionals
  • Photocopy of the latest Income Tax Return duly stamped as received by the Bureau of Internal Revenue (BIR) and Audited Financial Statements for the last two (2) years (MANDATORY)
  • Photocopy of Registration of Business Name (MANDATORY)
    • For Single Proprietorship: issued by the Department of Trade and Industry
    • For Partnerships: issued by the Securities and Exchange Commission (SEC)
  • Latest three (3) months’ bank statement (OPTIONAL)

• Proof of Identification – Photocopy of at least two (2) valid photo-bearing identification documents, front and back, issued and signed by an official authority. Full list of IDs acceptable by BDO can be viewed through the BDO website.  

Conclusion

BDO’s commitment to provide Filipinos with unparalleled banking experience has allowed many Filipinos to have access to various financial products that help them improve their quality of life. With decades of providing Filipinos with BDO Personal Loans, many Filipinos have seen their lives improved and dreams realized. 

For those who wish to apply for a BDO Personal Loan, they will be able to apply through the bank branches available nationwide or submit their applications online, whichever they prefer best.