Balikbayad Balikbayad was designed to address the financing needs of OFWs. We understand that there are costs involved in securing an overseas job. We are here to help the ones who have secured a job abroad and needs financial assistance. OFW/ Seaman loan Interest Rates: From 4.9% per month Minimum loan amount: 20 000 PHP […]Visit site
Balikbayad was designed to address the financing needs of OFWs. We understand that there are costs involved in securing an overseas job. We are here to help the ones who have secured a job abroad and needs financial assistance.
Interest Rates: From 4.9% per month
Minimum loan amount: 20 000 PHP
Maximum loan amount: Borrow as much as 2x your salary
Payment terms: 3 – 18 months
Approval time: 24 hours
Please note that we can only disburse 14 days before your confirmed departure date for new contracts.
For Balik Manggagawa returning to same employer, we can release up to 30 days before departure.
– At least 21 – 60 years old
– Must be a Filipino Citizen
– Must have an office or residence landline
– Valid ID/documents
– Bank account
Only 1 co-borrower required
We understand that taking up a bigger loan may initially be tempting, but we also need to ensure that your monthly loan installment does not take up too much of your monthly take home. Remember, living alone overseas normally incurs higher expenses compared to living with family in the Philippines. As guideline, we would like your monthly loan installment not to exceed 30% of your monthly take home.
Our loan terms are flexible, minimum 6 months and maximum 18 months for land based OFW, and minimum 3 months and maximum 8 months for seaman.
As a borrower, your maximum loan term is equivalent to your employment contract minus one (1) month. For balik-mangagawa, maximum loan term would be remaining months in current contract minus (1) month.
|Min. financing amount||₱20000|
|Max. financing amount||Up to ₱500000|
|Min. loan tenure||3 months|
|Max. loan tenure||18 months|
|Interest rate||4.9% - 4.91%|
|Approval duration||Up to 24 hours|
|TERM||3 months||4 months||5 months||6 months||18 months|
|Need to open linked banked account?||Yes|
It’s easy and done through the site. Register using your mobile number; fill in your profile with the necessary personal, work and bank details (for verification and payment); and click SUBMIT!
If you already have all the documents, you can visit our branch directly.
If you are a new customer, you must receive a credit decision within one banking day after applying. For regular customers, you can make a loan decision faster, since most of your information has already been verified.
Once approved, pick up a bank endorsement letter from Balikbayad, and proceed to open a checking account.
You can choose to receive funds from Padala centers (Cebuana, Palawan, M Lhuillier & LBC), your own Bank account or app Coins.ph.
However, please note that we can only disburse 14 days before your confirmed departure date for new contracts. For Balik Manggagawa returning to same employer, we can release up to 30 days before departure.
Yes, you can repay the loan ahead of schedule. Although there will be no deductions from your current payment, there will be other benefits such as a good credit rating and discounts for future loans.
You need a co-maker.
The longest loan period is 18 months.
|Full company name||Balikbayad|
|Address||Unit 2A, Kedar Bldg, 1347 Adriatico Street, Ermita Manila|
|Phone number||+63 2 5310 1535, +63 995 429 6450 (Globe), +63 918 345 8003 (Smart)|