Applying for a BDO Personal Loan

Just like other banking institutions, BDO Unibank also offers personal loans to its members.  As discussed in previous articles, a personal loan is probably the most flexible type of loan because you can apply for it and use it for tons of reasons.  In this article, we will be teaching you how you can apply for a BDO Personal Loan.

Loan eligibility is probably the most important factor because even if you have the capacity to pay, if you aren’t eligible, you cannot file for a loan.  People who can apply for a loan are:

• At least 21 years old but not older than 70 years old
• One who has a salary or is self-employed
• A person who earns more than the minimum income required

What are the main requirements or documentations needed in order for a person to apply for a BDO Unibank Personal Loan?

1. Duly accomplished application form.
2. Proof of Identification
   • Filipinos
     • At least two (2) valid photo-bearing IDs. See the list of valid IDs .
   • Foreigners
     • Any of the following documents:
       • Valid VISA and work permit
       • Alien Certificate of Registration (ACR) or Immigrant Certificate of Registration (ICR) or ACR-I
       • Valid passport with any of these:
         • Special Investors Resident VISA
         • Special Non-Immigrant VISA for PEZA investors and employees
         • VISA with E0226
       • Proof of Income
         • For employed applicants
           • Photocopy of the latest Income Tax Return (ITR); stamped as received by the BIR or BIR Form 2316 signed by employer’s representative (MANDATORY)
           • Any of the following:
             • Original Certificate of Employment indicating status, tenure, service, and compensation breakdown
             • Latest full-month’s payslip
           • For self-employed applicants
             • Photocopy of the latest Income Tax Return (ITR); stamped as received by the BIR and Audited Financial Statements for at least 2 years (MANDATORY)
             • Photocopy of business name registration (MANDATORY)

• Last 6 months’ bank statements (OPTIONAL)

So what you should do is to gather up all the documents you need and to properly fill-out the application form.  If you miss even one requirement, your application cannot push through.  Take note that once you submit requirements, it won’t be returned back to you.  If you have compiled everything that you need, proceed to a BDO branch for them to assess your documents.  Be reminded that an amount of P1, 300.00 will be deducted from the proceeds.

Other points you should take note of: