OFW loan has been opened for application again this year, January 2017. The reason is to cater to overseas Filipino workers looking for financial assistance as a fast cash loan. This credit offer is now open for both PRC-licensed overseas Filipino workers (OFW), skilled and household workers with at least 20K basic salary (in Peso) as stated in their contract or payslips. Our lending company for which you can apply for is located in Makati. For other branches, please see our list below.
The interest rate is currently on PROMO for March 2017 at only 2.49% instead of 3.75% before so hurry and fill up our online application form below. Processing fee is also lowered to 5% instead of 9.9% before.
I have listed below the initial or pre-qualifying requirements and how to know if you qualify for this cash loan for OFW. Please be guided that as of now, this type of financial help is ONLY extended to PRC license holder professionals such as doctors, engineers, architects, nurses, accountants and more.
Please note that if you are the beneficiary such as a wife or son or daughter, you can qualify to become the co-borrower of the OFW borrower. On the other hand, banks like BPI, BDO, MetroBank and other financing companies no longer offer it. An alternative is the bank personal loan while OWWA has their business loan. POEA on the other hand does not offer any assistance to OFWs for now.
Pre Qualifying Standards:
- Application date must start at least 15 days before departure and awarding of loan.
- Must be employed based from a valid contract. If you are a PRC licensed nurse, your contract must state that you are to work abroad as a nurse and not any other position or job. Same policy for household or domestic workers
- Must have at least Php 20K (in peso) minimum salary stated in the contract or payslips to be presented as an application requirement.
- Co-borrower must be an immediate family member.
- Must be here in the Philippines to sign documents, apply in the office and appear personally to claim loan money for OFW and must be available for live interview for migrants and citizens with regular job.
- Must be with a scheduled flight to work abroad at least 15 days before application for OFW and must provide stamped page of visa/passport on last arrival to country.
OFW Loan Requirements:
- 2 valid primary IDs of OFW
- proof of billing – either electric or water bill only is accepted (not under OFW name is fine)
- 2 valid IDs of coborrower immediate family member
- OEC for OFW going abroad and residence ID or card for migrants and citizens
- POEA validated contract for OFWW going abroad
- Please note that other documents may be required on a case to case basis especially for migrants
Samuel Casuncad – Makati Branch OFW Loan Consultant –
My Corporate Contact Details:
5427015 – Home Phone
0932 8725532 – Sun CP
0939 9269335 – Smart CP
0917 5019245 – Globe CP (with Viber / IMO and Whatsapp)
OFW Loan Lending Company Branches
- Ortigas Center Pasig City
- Makati Yakal cor. Talisay Street San Antonio Village
- Harrison Plaza Kiosk (accepts application)
- Ermita Manila in Mabini Street
- Baguio City Upper Session Road
- La Union Kiosk in San Fernando
- Urdaneta in Mc Arthur Hiway Pangasinan
- Cabanatuan Maharlika Hiway Nueva Ecija
- Pampanga Mc Arthur Hiway in Dolores, San Fernando
- Olongapo Rizal Avenue West Bajac bajac
- Baliwag Poblacion in Bulacan
- Tandang Sora Visayas Avenue Quezon City
- Las Pinas Alabang Zapote Road
- Cavite in Aguinaldo Highway Barangay San Agustin 1, Dasmarinas (Dasma)
- Cebu in Osmena Boulevard cor. Jakosalem, Cebu City
- Iloilo in Huervana cor. Rizal Street, La Paz
- Bacolod Branch in Lacson Avenue
- Cagayan de Oro in Corrales Street
- Davao Branch in Pichon Street
- Great buy Dagupan in MH del Pilar Street, Dagupan
- Alabang Muntinlupa area
You might want to read more about us or balikbayan loan