OFW loan requirements: amounts, conditions, terms, online calculator

A loan for employees working outside the Philippines

In the current economic situation, the contribution of Filipino employees, working abroad (OFW – Overseas Filipino Workers), is huge for the country. According to statistics only in the first quarter of 2017, earnings outside the country have become the main source of income for 2.32 million Filipino families. However, even with high incomes, in comparison with the salaries of workers inside the country, foreign workers also need financial support and often apply for a loan, especially for large purchases (cars, real estate, etc.).

Lending companies for OFW loan

(4,79/5) 1597 voice

Robocash Ph

Free loan up to PHP 10 000, for each new client!

PHP 1000 - 25000
from 7 to 30 days
interest rate
for 0 % per day
Online Loans
(4.61/5) 499 voice

Online Loans Pilipinas

Money in your pocket in minutes!

PHP 2000 - 20000
from 7 to 30 days
interest rate
for 1% per day
Citibank Philippines
(3,5/5) 163 voice
from to days
Money Cat
(4,42/5) 243 voice

Money Cat

Fast, simple and safe

PHP 1000 - 20000
from 14 to 28 days
interest rate
for 2,5 per day
(4,8/5) 25 voice


Only 4 steps to get a loan

PHP 1000 - 20000
from 90 to 180 days
interest rate
for 0.03 per day
Global Dominion Financing Incorporated
(3,45/5) 226 voice
PHP 10000 - 2000000
from to days
interest rate
for 1.25 per day
(3,5/5) 76 voice

South Asialink Finance Corp.

We make financing EASY for YOU

PHP 20000 - 250000
from 180 to 365 days
interest rate
for 0,05 per day
(4,1/5) 398 voice


By funding portions of multiple loans, you help more people while getting solid monthly returns.

PHP 15000 - 250000
from 90 to 365 days
interest rate
for 0.05 per day
Vidalia Lending
(3.74/5) 243 voice



PHP 2000 - 15000
from 30 to 60 days
interest rate
for 0.6% per day
(4,11/5) 282 voice


Find your Equal

PHP 25000 - 240000
from 30 to 1080 days
Cash Mart
(4.33/5) 489 voice

Cash Mart

The most convenient loan!

PHP 5000 - 30000
from 7 to 30 days
interest rate
for 0,8% - 3,5% per day
(3.98/5) 435 voice


The most convenient loan!

PHP 2500 - 15000
from 10 to 90 days
interest rate
for 0,83% per day
(4,72/5) 521 voice
PHP 5000 - 10000
from 30 to 60 days
interest rate
for 0.8% per day
Loan Load
(4.6/5) 627 voice

Loan Load

Round-the-clock loans in the Philippines

PHP 5000 - 50000
from 61 to 365 days
interest rate
for 2,3% per day
(4.32/5) 268 voice


Get financing for whatever you need now

PHP 2000 - 20000
from 61 to 90 days
interest rate
for 0,8% per day
(4.73/5) 876 voice


Credit online!

PHP 3000 - 10000
from 5 to 30 days
interest rate
for 0,65% per day
(4,55/5) 258 voice
PHP 1000 - 10000
from 15 to 45 days
interest rate
for 0,3316 % per day
(4,41/5) 325 voice
PHP 5000 - 35000
from 90 to 365 days
interest rate
for 0,5 % per day
My cash
(4.1/5) 557 voice

My cash

Urgent loans for all!

PHP 2000 - 25000
from 7 to 30 days
interest rate
for 0,8% per day
(3.81/5) 42 voice


Responsible Borrowing, Ethical Lending

PHP 10000 - 2000000
from 1 months to 36 months days
interest rate
for 0,26 per day
Loansolutions PH
(3.84/5) 256 voice

Loansolutions PH

Personal Loan Made Easy

PHP 20000 - 2000000
from 90 to 1800 days
interest rate
for 0,04% per day

TOP 6 companies to take a loan

In the selection, we have collected the 6 best Philippine companies that will give you a loan. For convenience, we took into account only basic information about each company:;

  1. Requirements for those wishing to take a loan;
  2. Search query to find a bank;
  3. Terms on which you can take a loan;
  4. Rating based on user feedback.

GDFI (Global Dominion)

Requirements for Global Dominion OFW loan

  • Minimum income of 20 000 pesos;
  • Co-borrower;
  • Documents: legal contract with the employer, tickets and a copy of the visa, residence permit, bank statement confirming income. For the co-borrower – 2 any ID, proof of residence, if available – marriage certificate or marriage contract.

Terms: not listed on company website.

Rating: 3,2/5 based on 123 reviews.


Requirements for Cashmart OFW loan

The presence of citizenship. Age from 21 years. Legal contract with the employer. Any proof of income. For family purchases – Proof of Relationship.

Terms: from 7 to 30 days.

Rating: 4.33/5 based on 489 reviews.


Requirements for Balikbayad OFW PERSONAL LOAN

Passport and work visa. Contract with employer translated into English. OEC certificate. Tickets and electronic confirmation of residence in the Philippines (last 3 months).

Terms: from 6 to 18 months.

Rating: there is no data.


Special offer landbank loan for ofw

The Bank offers Philippine workers abroad a special reintegration program, the official name of the OFW Reintegration Program (OFW-RP). It provides a migrant with the opportunity to start a business in the Philippines instead of working for a foreign employer.

Requirements: OWWA membership, OWWA certificate. The minimum loan amount is 300 thousand pesos, the maximum is 2 million.

Terms: Loan terms depend on the amount of money taken on credit, but not more than 7 years (including a grace period of 2 years). Funds will be kept on deposit.

Rating: there is no data.

South AsiaLink Finance Corp.

Requirements for  AsiaLink OFW loan

Income of 20 000 pesos. Standard package of documents: visa, contract with employer, passport, tickets, employment certificate for a foreign employer.

Terms: from 180 to 365 days. Interest rate – 0.05 per day.

Rating: 3,5/5 based on 76 reviews.

Rang-ay Bank

Special offer: Rang ay Bank OFW loan

The bank offers to start investing in a Philippine business or open your own. Maximum loan – 30 million pesos.

Requirements: passport, OFW certificate, residence permit abroad.

Terms: from a month to 5+ years.

Rating: there is no data.

Benefits of loans for Filipino workers

By taking into account the high solvency, the Filipino banks are ready to provide the employees with any types of loans (OFW loans), including large amounts with quick approval for the purchase of an apartment, a house, a car, etc. Using such proposals, you do not need to remit desired purchases and improving life conditions.

The advantages of OFW loans include:

  • Possibility to choose a suitable credit program;
  • Quick registration of the application, including online;
  • Quick approval;
  • Immediate money transfer:
  • Flexible loan repayment system;
  • Possibility to choose the money reception method;
  • The availability of credit programs not only for the worker, but also a member of his family.

Online loan calculator for OFW


How to get a loan to a Filipino employee abroad: detailed instructions

Philippine Worker Abroad (OFW) is a migrant worker with Philippine citizenship. He works and resides in another country for a limited period of time. Sometimes a migrant needs financial support, then he has to go to the bank.

Get a loan in 3 steps

Step 1. Open a browser, enter a search query like “bank name + ofw loan” and go to the website of one of the companies where you want to take a loan.

Step 2. Check out the requirements of banks. Make sure you match each item. Typical requirements are Philippine citizenship, age 20-21, stable income, contract with employer. For family purchases – the so-called “Proof of Relationship” (marriage certificate, birth certificate, etc.)

Step 3. Make a loan by applying. Indicate the amount of money you want to receive, the terms for which you want to take a loan. You can pay a loan once a week, once every 2 weeks or once a month.

Done! Soon you should receive a response from the bank regarding your application.

Conditions for granting credit to employees working abroad

In general, the conditions for Filipino workers who applied to state banks and private financial institutions for a loan are the same. The main condition is that you have at least one year of work experience on the last job. This rule applies to individuals, workers both within and outside the country.

Abroad workers have certain privileges: their income amount allows them to apply for larger loans. And if the work experience with a stable income is at least three years, then you can apply without any doubts for a mortgage in the social security system (SSS) at favorable rates. Applying for such loan is possible even if one of the marriage partners used the program before marriage.

Loans are available to Filipino workers between the ages of 21 and 65 (at the time of loan repayment), while they should not have other actual debts. For loans that involve large amounts, the credit reputation is taken into account, it should be ideal.

What banks offer loans to Filipino workers?

Below is the list of popular banks that offer OFW loans. These include:

  • Pag-IBIG (Mortgage Unit Investment Fund) and SSS (Social Security System);
  • BPI (Bank of the Philippine Islands);
  • BDO Unibank;
  • Security Bank Philippines;
  • China Banking Corporation (CBC);
  • EastWest Personal Loan;
  • AUB Seafarers Loan;
  • PSBank (Philippine Saving Bank) and others.

Loans to Pag-IBIG and SSS

In the framework of the “affordable housing” program, Pag-IBIG has developed a program that provides a mortgage to Filipino workers who have worked abroad for 2 or more years. Citizens of 21-65 years will be able to take advantage of this opportunity. A mandatory requirement for borrowers is the absence of other credit obligations, unpaid loans and debts.

But people who have worked outside the country for more than a year have the right to apply for home loans directly in the SSS (social security system) under more favorable conditions. The program is available even if one of the marriage partners has used this loan before marriage, but if there are no delays and cases of non-payment.

BPI (Bank of the Philippines Islands)

For employees who work outside the Philippines and who have a monthly income of 30,000 Pesos, the Bank of the Philippine Islands offers consumer loans, as well as a mortgage loan for the purchase of a car.

For abroad workers (at least two year) with a monthly income of at least 40,000 Pesos, BPI offers mortgage loans. The minimum age of the borrower must be at least 21 years, and the maximum age of 60 at the time of debt repayment.

Loan Features:

  • Loan amount between P20 000 and P1 000 000;
  • Choose a loan term more convenient for you – 12, 18, 24, 30, and 36 months;
  • Easy payment method through automatic debit on your BPI account;
  • Loan monitoring through BPI Express Online or BPI Express Phone.

Benefits of BPI Personal Loan:

  • Fixed interest rate, which also means fixed monthly installment for the duration of the loan;
  • Fixed term throughout the loan;
  • Big discounts on products and services if you pay in cash.

Credit to employees working abroad in Security Bank

The Security Bank has developed lending programs for Filipino citizens working abroad for 2 or more years. For registration of a mortgage, the level of earnings should be at least 40,000 PHP, and for auto loans – 50,000.

Mortgage is a pledge loan, where purchased housing serves as security. At the same time it is necessary to pay an initial contribution of 20% of the house cost. The rates vary between 5.07 – 9.44% per year. A loan can be issued for the purchase of a secondary housing , as well as new buildings. You can also spend credit for the construction of a housing.

In the auto lending  market of the Philippines there some attractive offers from Security Bank. The main advantages are relatively low interest rates (5.07 – 9.44% per year), rapid approval, comfortable loan repayment terms, small initial deposit, lack of guarantor or pledge, the possibility of lending for the purchase of both new and used auto.

Borrowers can expect to receive 80% of the total cost of the purchased vehicle, with an initial contribution of 20%.

To repay the debt, you can use several methods:  pay monthly in cash in the bank according to the schedule. The amount of debt can be debited from the borrower’s settlement account automatically.

Loan Features:

  • Minimum loan amount of P30 000 to a maximum of P1 000 000;
  • Choose among 12, 18, 24, and 36 months loan term;
  • Payment via post-dated checks;
  • Must have at least P15 000 gross monthly income.

Benefits of Security Bank Personal Loan:

  • Re-availment of loan is allowed as long as you paid at least half of your original loan amount;
  • Processing of loan application is up to five working days.

BDO Unibank (BDO) loans for OFW

Unibank offers consumer loans, auto loans and mortgages for the Filipino citizens working abroad for at least two years,. For the loan and home loan, the salary should be at least PHP 50 000, and for consumer loans – 10 000. The program is available to citizens from 25 years, the maximum age at the time of loan repayment should be no more than 65 years.

Benefits of BDO Personal Loan:

  • Minimum amount is P10 000 while maximum amount is P1 000 000;
  • Fixed monthly payment with flexible payment term for up to 36 months;
  • Loan proceeds will be credited to your BDO account;
  • Can be subject to Top Up Loan Feature where you can get a higher amount than your previous loan, but subject to submission of additional income documents;
  • Convenient application and submission of requirements at the BDO branch near you.

PSBank Flexi Personal Loan with Prime Rebate

PSBank Flexi Personal Loan with Prime Rebate is the first and only collateral-free personal loan product with a revolving credit line and a fixed term loan.

Loan Features:


  • Choose between revolving credit line and fixed term loan for your loan option;
  • Loan amount between P25 000 and P250 000;
  • Loan payment option is dependent on your chosen loan option;
  • Choose between 24 or 36 months (for fixed term loan);
  • Competitive interest rate;
  • Various modes available for loan payment;
  • Comes with PSBank Flexi ATM card;
  • Five to nine working days processing of loan application.

Benefits of PSBank Flexi Personal Loan:

  • Lower interest rate than credit card;
  • Interest is applied on the amount used and not the entire credit line;
  • Allows you to earn rebates or savings when you make advance payment on your loan.

EastWest Personal Loan

Whatever your dreams and desires are, EastWest Bank Personal Loan is the quick and easy financial solution that helps you get the cash you need. EastWest Bank Personal Loan is an unsecured and non-collateralized consumer loan that is granted to qualified individuals for their personal use. This loan facility is multi-purpose and comes in affordable fixed equal monthly installments.

Loan Features

  • Versatile loan facility to suit your specific needs;
  • Available in 12, 18, 24, and 36 months;
  • Borrow with minimum amount of P25 000 to P2 000 000;
  • Competitive interest rate;
  • Gross monthly income of at least P15 000.

Benefits of EastWest Personal Loan

  • No co-maker and no-collateral requirement;
  • Convenient and fast processing, allowing you to apply while you’re in your office or at the comfort of your home;
  • Three to five working days loan application processing.

China Bank Overseas Kababayan Services

It’s hard to be apart from your family, but sometimes, that’s what it takes to give them a good life. If you’re a Kababayan working abroad or about to be an OFW, we can help you make the most of your hard-earned money. China Bank Overseas Kababayan Services with a full-range of reliable, secure, and competitive products and services for your remittance, savings, investment, and consumer loan needs.

Loan Features:

  • Non-collateral multi-purpose loan facility;
  • Payable in equal monthly amortization;
  • Loan amount starting at P20 000 to P1 000 000;
  • Fixed term repayment for 12, 18, 24, 36, or 48 months;
  • Repayment via post-dated checks;
  • Can apply at any Chinabank branches nationwide.

Benefits of Chinabank Easi-Funds Personal Loan:

  • Minimal documentation;
  • No collateral needed;
  • Flexible purpose;
  • Quick disbursal of funds;
  • Loan application process within five working days.

AUB Seafarers Loan

We are pleased to offer AUB CASHelp, a multi-purpose salary loan extended to qualified employees of accredited companies. It provides easy access to credit with convenient repayment via salary deduction!

Loan Features:

  • Must have completed at least one employment contract at the time of loan application;
  • Existing account with Asia United Bank (AUB);
  • Minimum gross salary of USD 1,000;
  • Borrow up to P500,000.

What are the loan requirements:

  • Completely filled out and signed Application Form;
  • Photocopy of Employment Contract with POEA stamp;
  • Photocopy of Passport and Seaman’s Book;
  • Photocopy of Seafarers Registration Certificate (SRC);
  • Allotment Arrangement certified by the company;
  • Latest proof of billing;
  • Certificate of Departure issued by manning agency;
  • Authority to deduct from AUB account.

How to increase the probability of loan approval for OFW in the Philippines?

To find a suitable offer for quick loans in the Philippines, we suggest using our service. This is an information portal, where you can find current offers from all banks and credit organizations of the Philippines.

You can find the desired offer through the search system, as well as a special form. After specifying the required parameters (desired amount, interest rate, monthly income, maturity date, etc.), the system will issue a list of banks offering loans for your requirements.

To increase the probability of approval, you can send an application to all organizations. With several positive answers, compare the conditions of each offer and choose the most appropriate option.

OFW loan requirements

Philippine workers who carry out their professional activities abroad make a huge contribution to the economies of many countries. However, not every bank develops special lending programs for foreigners. In addition, Philippine citizens applying for a loan must comply with the requirements of the organization to which they apply.

An application for a loan submitted to the United Bank of Asia may be approved subject to the following conditions:

  • the borrower has completed at least one employment contract at the time of application for the loan;
  • presence of account in the United Bank of Asia (AUB);
  • the borrower’s income is at least 1 000 dollars.

Those who want to get a loan must provide a state-issued ID with their photo. You may also need one of the following documents:

  • contract with the Philippine Employment Administration abroad (POEA);
  • employment contract with date of arrival;
  • certificate POEA;
  • refit contract;
  • information sheet for POEA OFW;
  • proof of transfer to a foreign institution.

The sphere of interest of BDO Bank covers almost the whole Eurasian continent and North America. Because of this, its branches are easily accessible and quickly carry out money transfers. To use the online service BDO, you need to get an account on the official website.

Making a car loan at BDO bank implies compliance with additional requirements to the Philippine borrowers:

  • 2 years of continuous work experience for workers with qualification;
  • 3 years of continuous work experience for domestic workers.

Loan for OFW without collateral

Multi-purpose loans without collateral are provided by the Chinabank banking institution. A non-collateral loan can also be drawn up through EastWest Bank. In addition to collateral, banks may require payment of the following mandatory contributions:

  • notary fee;
  • one-time commission for processing the request;
  • tax on documentary printing.

In order to properly prepare an application for a loan, it is recommended to ask bank representatives in advance about the need to make these and other expenses.

OFW loan 1 day processing

In some situations, the foreground is the speed with which the bank is ready to provide a decision on issuing a loan. Regardless of the specifics of personal circumstances, the citizens of the Philippines can count on operational financial support.

Metrobank allows you to draw up a loan and transfer money to the Philippine account in just 24 hours. Cash is transferred from hand to hand to the recipient, located in the Manila agglomeration, after 24 hours. Delivery to the provincial regions is carried out in 2-3 days.

You can also take cash from the territory of partner banks. The partners of Metrobank include such organizations as Cebuana Loye, LBC or Palawan Pawnshop. Another advantage of Metrobank is the possibility to pay utility bills while being outside the Philippines.

BDO bank quickly processes requests for car loans. Its approval can be received in just 24 hours.

Approval of a loan within 24 hours is a very quick operation. Processing applications for loans by many banks takes about five days. At the same time, institutions working with Filipinos abroad provide flexible options for making money transfers as soon as possible after the completion of the transaction.

Everything you need to know about OWWA Loans

The Overseas Workers Welfare Administration or OWWA is an agency that operates under the Philippines Department of Labour and Employment. Its main role is to ensure that the interests of Filipino workers and their families overseas are protected. It does this by providing cultural services, social security and employment, legal and remittances aid.

For anyone that is interested in applying for OWWA Loan, there is something that you will have to consider. For instance, OFWs or Overseas Filipino Workers can apply for an OWWA loan which is a business loan. Before you can apply for this loan, you have to gain all the imperative documents which show that you are in fact trying to start a business. These documents include Certificate of Registration, Mayor’s Permit as well as Barangay Clearance, just to name a few. This process can be quite time-consuming and tedious to begin as most governmental agencies responsible for these documents do not release them in time.

Regardless of if you want to apply for an OWWA loan, you have to ensure that you have every bit of the pertinent permits, as well as business documents to ensure that you are aiming to run a legitimate business. When you do it this way, you can be sure that the documents you will need are already available in the event that you actually do need an injection of extra working capital. Doing this helps to hasten the loan process as every required document is already available.

Below is a list of categories, things and criteria required when you want to apply for an OWWA loan.

If you happen to be an individual that is still working overseas, you might be concerned if you are able to apply for the loan. The simple fact is while the process involved can become tiresome, it is possible for you to get a loan. This is because the OWWA loan is available to active OWWA members as long as they have been certified as Overseas Filipino Workers or OFWs. You will have to ensure that you are first certified, however, as it is one of the necessary requirements.

If you happen to still be overseas, you will have to ensure that your OFW status is verified. This means you have to contact the Philippine Embassy in the nation you reside in, asking to speak with the Welfare Officer. It is the job of the Welfare Officer to ensure that your registration as an OFW to OWWA is verified.

The moment you are verified, you are then directed to an OWWA office by the Welfare Officer. You will have to return to the Philippines to continue this step, as you have to go to your assigned OWWA office to ensure that you are certified.

In the event that you have to head back to your job overseas, you can get a Unique Power of Attorney which authorises a person you choose, either your spouse or someone in your immediate family that is of legal age to transact and act on your behalf. This means you do not have to worry about putting the process on hold because you have to work.

Enterprise Development Training EDT

It is imperative that you attend the EDT as having a certificate of attendance is required if you plan to apply for a loan. Via EDT, you are able to learn numerous techniques and strategies in sustaining, managing and handling any issues in your desired business venture. There are also numerous immersion programs in which you get a clear idea, as well as experience of what it is actually like to run a business.

Do you need property?

You might be concerned if the OWWA loan is not for you since you do not have any property under your name. This will be a concern for some as they do not have any assets registered to them that can be used as collateral for the loan they want to collect. The fact remains that collateral is a very pertinent aspect of an OWWA loan as the Overseas Workers Welfare Administration wants to know that you are able to repay your loan. It does not matter if the OWWA loan in question is one that does not use any collateral, it will be required of you to show your mortgageable assets to ensure that the loan is secure.

It is good to know that having property registered to you is just one out of the numerous ways you can present your assets as collateral. Apart from that, you can use any of the following asset types:

  • Receivables;
  • Chattel mortgage;
  • Purchase Deed;
  • Deed of Assignment;
  • Lease Rental Control etc.

It is also possible for you to apply for a loan using a co borrower. It is best to have one that has good credit as that can help the loan acquisition process.

Need more than what OWWA is willing to pay?

As with other types of loans, it makes sense to get as high an amount as you can when applying. This is because you can utilise the additional monies for other expenses that are also equally important. This is not the case with an OWWA loan. You are only given what you have the ability to pay. It is important to note that while the OWWA is a governmental agency, it still operates like a financial institution requiring to show proof of ability to pay back your loan. What this means is that your loan application is closely reviewed to see if you are actually worthy of the credit you are applying for. Just how viable your business is will also be reviewed, as your business plan will have to be submitted alongside your loan application.

These are just some of the few questions you might have when you are interested in applying for the OWWA loan. It is imperative that you ensure you have all the required documents before applying, as not having could prolong the process.

Example of calculating interest and loan payments

TERM 10 days 20 days 30 days
LOAN AMOUNT 14000 PHP 14000 PHP 14000 PHP
FEE 1% 1% 1%


(4.35/5) 356 voice

Written by | Modified date: October 22, 2020

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