BDO Review

Company Information

BDO is a member of the SM Group, the country’s biggest conglomerate, and is a full-service universal bank that caters to individuals and businesses. BDO also offers digital banking services allowing customers to transact from anywhere in the world.

BDO was established in 1968 as a thrift bank and was known then as ACME Savings and just had two branches. Now, they have more than 1,500 branches and over 4,400 ATMs nationwide. 

Their customer service is available 24/7 through the mobile app, website, or customer contact hotlines. Thecorporate center is located at BDO Corporate Center, 7899 Makati Avenue, Makati City.

For customers who wish to contact them, here are the different contact options:

E-Mail:  [email protected]

BDO Contact Center: 

Metro Manila:(+632) 8631-8000

Domestic Toll-Free Nos:

• 1800-10-631-8000 (PLDT)
• 1800-3-631-8000 (Digitel)
• 1800-5-631-8000 (Bayantel)
• 1800-8-631-8000 (Globelines)

BDO is regulated by the Bangko Sentral ng Pilipinas (BSP), and the deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) for up to P500,000 for each depositor. 

Types of Loans & Services Offered

The loans available are BDO Personal Loans and BDO Kabayan Personal Loan. Here’s an overview of each type of loan to understand which one is most suitable for you.

BDO Personal Loan

The loan addresses any of your financing needs such as tuition fee payments, home renovations, purchase of electronics or furniture, travel, medical emergencies, etc. 

BDO Kabayan Personal Loan Unsecured

A non-collateral loan product for OFWs with a fixed income. 

BDO Kabayan Personal Loan Secured

The Peso or Dollar Savings or Currents Accounts, or a Peso or Dollar Time Deposits are the only types of security allowed for this type of loan. The offer is made against the joint or individual accounts as security. 

Loan Features

Loan Amount: P10,000 to P1,000,000

Loan Term: 6 months to 36 months

Interest: starts at 25.98% per annum

Repayment Method: Auto Debit Arrangement (ADA) or Over-The-Counter at any branches nationwide. 

Eligibility

• Must be 21 years old at the time of application but not more than 70 years old upon loan maturity
• The 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)
• The 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 the employer’s authorized representative.
• Plus any of the following: Latest full-month’s payslip/s ; Original Certificate of Employment indicating status, service tenure, and compensation breakdown.

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 (DTI)
  • For Partnerships: issued by the Securities and Exchange Commission (SEC)
• Latest three (3) months’ bank statement (OPTIONAL)

Photocopy of at least two (2) valid photo-bearing identification documents, front and back, issued and signed by an official authority such as:

• Passport
• Driver’s License
• Unified Multi-Purpose ID (UMID)
• Professional Regulations Commission (PRC) ID
• National Bureau of Investigation (NBI) Clearance
• Police Clearance
• Postal ID
• Voter’s ID
• Barangay Certification
• Government Service Insurance System (GSIS) E-card
• Social Security System (SSS) Card
• Senior Citizen Card
• Overseas Workers Welfare Administration (OWWA) ID
• OFW ID
• Seaman’s Book
• Alien Certification of Registration/Immigrant Certificate of Registration
• Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
• Department of Social Welfare and Development Certification (DSWDC)
• Integrated Bar of the Philippines ID
• Company ID issued by private entities or institutions registered or supervised either by BSP, SEC or IC.
• For Resident Foreigners Only:
  • Copy of Employment Contract or Certificate of Employment
  • Letter from the Embassy (if Embassy Official)
  • Any one of the following valid documents: Valid VISA and work permit; Alien Certificate of Registration (ACR) or Immigrant Certificate of Registration (ICR) or ACR-I; or Valid passport with any of the following: Special Investors Resident VISA, Special Non-Immigrant VISA for PEZA investors and employees, VISA with EO266

BDO Kabayan 

Loan Features

Loan Amount: minimum of P10,000 or maximum of 90% of deposit account balance

Loan Term: 6 months to 36 months

Interest: starts at 17.06% per annum

Repayment Method: Auto Debit Arrangement (ADA) or Over-The-Counter at any of the branches nationwide. 

Eligibility

For Overseas Filipino Workers (OFWs):

• At least 25 years old at the time of loan application and not more than 65 years old at the time of loan maturity
• Former Filipinos with or without dual citizenship; Filipinos married to foreigners; Filipinos based abroad/OFW and their Beneficiaries
• Must have at least two (2) years continuous employment contract
• Must have at least one (1) landline phone at either residence or employment/business
• Gross monthly income must be at least P20,000 or its US$ equivalent
• With good credit history
• Beneficiary Requirements (Required only if proceeds will be released to any person other than the applicant him/herself)
  • Must have a landline
  • Limited to the following: spouse or children, immediate family members (parents or siblings), relatives of up to 3rd degree of consanguinity
  • Beneficiary must be residing/working within BDO serviceable areas (30km radius from any BDO branch)

For Seaman/ Domestic Helpers:

• At least 25 years old at the time of loan application and not more than 65 years old at the time of loan maturity
• Must be Filipino citizen
• Must have at least 3 years continuous employment contract
• Must have at least 1 landline phone at either residence or employment/business
• Gross monthly income must be at least P20,000 or its US$ equivalent
• With good credit standing
• Beneficiary requirements (Required only if proceeds will be released to any person other than the applicant him/herself)
  • Must have a landline
  • Limited to the following: spouse or children, immediate family members (parents or siblings), relatives of up to 3rd degree of consanguinity
  • Beneficiary must be residing/working within BDO serviceable areas (30km radius from any BDO branch)

Requirements

The requirements are just the same as the BDO Personal Loan but will need the following additional requirements:

• Signed Automatic Debit Arrangement Form
• Authorization Letter for Beneficiary signed by OFW
• Beneficiary Information Form

Auto Loan

Buying your first car can be expensive, and it is for this reason, that BDO offers a car financing option for personal use or business use. 

Loan Features

Loan Amount: Vehicle Price

Down Payment: 20% to 40%

Loan Term: 

• Brand New
  • Personal Use – 5 years
  • Business Use – 3 years
• Pre-owned
  • Personal Use – 4 years
  • Business Use – 2 years

Eligibility

• At least 21 years old but not exceeding 70 years old at the end of the loan term
• Filipino citizen or foreigners residing in the Philippines for at least 2 years
• Minimum gross family income of P50,000/month
• With stable source of income from employment or business
  • Locally Employed – at least 2 years with current company
  • Self Employed – at least 2 consecutive profitable years of operation
  • Employed Abroad – 2-3 years employment

Requirements

• Completely filled out application form
• Proof of Identification
  • Photocopy of one (1) valid ID matching application details (e.g. Passport, Driver’s License, SSS, PRC, OWWA ID, OFW ID, Seaman’s Book)
  • For Foreigners, Alien Certificate of Registration with Work Permit
• Income Documents
  • Locally Employed (any of the following)
    • Latest Income Tax Return or BIR Form 2316 or latest payslip
    • Certificate of Employment with Salary
    • Additional for Foreigners, current employment contract

• Self-Employed
  • Photocopy of Audited Financial Statements for the last 2 years with latest ITR
  • Bank Statements or Photocopy of Passbook for the last 3 months
  • Certificate of Business Registration

• Employed Abroad (any of the following):
  • Proof of Remittance for the last 3 months
  • Latest Crew Contract, if sea-based
  • Consularized Certificate of Employment with Income (COEI) or latest three (3) months payslips

Home Loan

Home loans can cover different types of properties and purposes. Most people think it is just financing to purchase a house and lot or condominium. With BDO, here are the different purposes used for a BDO Home Loan:

Purchase of House and Lot / Townhouse Unit:

• Purchase of Condominium Unit
• Purchase of Vacant Lot
• Construction of House
• House Renovation / Home Improvement
• Reimbursement of Acquisition Cost
• Refinancing / Loan Take-out

Loan Features

Eligibility

At least 21 years old but not exceeding 70 years old at the end of the loan term

• Filipino Citizens or Foreign Nationals
• Minimum gross income of P50,000/month or its equivalent in US Dollars
• With stable source of income from employment or business
  • Locally Employed – at least 2 years with current company
  • Self Employed – at least 2 consecutive profitable years of operation
  • Employed Abroad
    • 2 to 3 years consecutive employment
    • Assignment of Beneficiary as Loan Administrator if not in the Philippines at the time of application.

Requirements

• Completely filled-out application form
• Photocopy of one (1) valid ID matching application details
  • Acceptable IDs: Passport, Driver’s License, SSS, PRC, OWWA ID, OFW ID, Seaman’s Book
• Marriage contract, if applicable
• Income Documents
  • Locally Employed
    • Latest Income Tax Return or BIR Form 2316
    • Latest three (3) months payslip
    • Certificate of Employment with Income (COEI)

• Self Employed
  • Photocopy of Audited Financial Statements for the last two (2) years with latest ITR
  • Bank Statements or Photocopy of Passbook for the last six (6) months
  • Certificate of Business Registration from DTI or SEC, Articles of Partnership or Articles of Incorporation (whichever is applicable)
  • Business Background or Company Profile

• Employed Abroad (any of the following):
  • Proof of Remittance for the last 3 months
  • Latest Crew Contract, if sea-based
  • Consularized Certificate of Employment with Income (COEI) or latest three (3) months payslips

• Collateral Documents
  • Photocopy of Title
  • Lot Plan with Vicinity Map
  • Photocopy of Tax Declaration

• Additional Documents
  • For Construction Loan (All documents must be certified by an Architect or Civil Engineer)
    • Building / Floor Plan of proposed improvement
    • Bill of materials
    • Building Specification of proposed finishes

• For Refinancing / Loan Take Out
  • Statement of Account from current bank and official receipts for the last three (3) months

SME Loan

SMEs are slowly gaining ground in the Philippines. Filipinos are now more inclined to support small to medium-size businesses. And because of this, SMEs are given the opportunity to expand. However, the expansions always require extra capital, so BDO is offering loans to SMEs looking at financing to achieve their business goals. 

Term Loan

This is ideal for SMEs planning to purchase real estate properties or new equipment and machinery. This is a long-term loan where borrowers can opt to pay for equal monthly installments or a fixed term. 

Loan Amount: P1M to P20M

Loan Term: up to 10 years

SME Ready Check

This is a type of a revolving credit line that allows businesses to have access to credit whenever they need it. 

Loan Amount: P3M to P20M

Term: 1 year validity with option to renew

Eligibility

• At least 21 years old but not exceeding 70 years old at the end of the loan term
• Must be a business owner
  • Sole Proprietorship, Partnership, Corporation
  • Business is in profitable operation for at least 2 consecutive years
  • Minimum annual gross sales of 1 Million
  • Business is within a BDO serviceable area

Requirements

• Basic Documents
• Collateral & Support Documents
  • Photocopy of Title
  • Lot plan with vicinity map
  • Tax declaration
  • Special Power of Attorney (SPA), if applicable

• Construction Loan
  • Building / Floor Plan of proposed improvement
  • Bill of Materials
  • Specifications of proposed finishes

• Refinancing / Loan Take out
  • Statement of Account from current bank
  • Official receipts for the last three (3) months

Other documents may be required upon evaluation

• Reimbursement
  • Certificate of Full Payment
  • Deed of Sale
  • Sales Invoice or Official Receipt as proof of payment for the asset you acquired.
  • Reimbursement is only applicable to assets purchased within the last 12 months.

Why Choose BDO Unibank Inc.

Exceptional Customer Service

BDO is undoubtedly providing its clients the quality customer service they deserve. Customers can reach out to customer support anytime through phone banking, chat, and email for their concerns and account-related issues.  

Provides Convenience and Accessibility

With over 1,500 branches and over 4,400 ATMs nationwide, Filipinos are afforded better access and convenience to banking services. 

Offers a Completely Digital Banking Experience

Customers can bank anywhere in the world and at any time of the day, thanks to the digital banking service that BDO offers. Customers can simply download the BDO app or log in to their BDO accounts on the website to make transactions. 

How to Sign Up

To apply for any BDO loans, borrowers can simply download the loan application form through the website. Here are some examples. 

Conclusion

BDO offers multiple doors of opportunity for individuals and business owners who wish to achieve their personal or business goals. Achieving financial flexibility will sometimes require an extra boost in the cash flow and in this case, BDO is more than willing to provide a lending hand to people and businesses who are in need. And true to their slogan, they find ways.