The easiest and fastest way to apply for a personal loan in the Philippines

The easiest and fastest way to apply for a personal loan in the Philippines

Personal Loan Tip: Consolidate Your Loans

Personal Loan Tip: Consolidate Your Loans

The best way to employ your personal loan is to use it to consolidate your loans. You may have several credit cards each with a balance, unpaid utility bills and car loans. If the loan amount is large enough to cover all the loans, then pay them off. Consolidating all your loans into a single loan saves you a lot of time and headache. It may also lower the interest rate. With only one loan to pay back, you will find the load to be lighter and easier to handle.

BDO Personal Loan Assistance Philippines

Personal Loan Philippines
Application Assistance Services

Requirements & Documents:
The requirements for Personal Loan Application varies from one bank to another. You will be informed.

Loan Amount:
From P10,000 up to P2,000,000 depending on your salary and/or Credit Card limit. Approximately the maximum approvable monthly loan re-payment is 30% of your gross monthly salary.

Available Loan Terms:
From 6 months, 12 months, 36 months and up to 48 months depending on the bank.

Basic Qualification:
- Must be 21 to 65 years old (end of loan term should be before your 65th birthday).
- Must have good credit standing. No historical defaults.
- If self-employed, business should be operational for at least 2 years.

Requirements for Employed/Salaried Individuals:
- Checking Account
- Latest Certificate of Employment (should not be more than 30 days old). Basic monthly salary, position and length of service must be indicated.
- 2 months latest payslips
- Latest ITR
- 2 Government issued ID (Passport, SSS, PRC, Driver's License, Voter's ID)
- 1 Company issued ID (front and back) with 3 specimen signatures beside the front copy of the ID
- Copy of recent Credit Card statement, if any

Requirements for Self-Employed Individuals:
- DTI/Business Permits
- 6 months bank statements
- Latest Audited Financial Statements with ITR
- Trade References