OFW Loans in the Philippines

OFW Loans in the Philippines – Requirements and How to Apply

As an OFW, it is indeed difficult to secure a loan or any financial assistance while abroad. With your income, you still have to provide for your family and help them out with urgent expenses. Most often than not, you also tend to help your extended family members and friends.

You try to limit your expenses and your savings for your personal goal unless it is really necessary. But what about emergencies? How will you provide for them? What if the unexpected happens and your family needs your help? What do you do then?

Good news! We are taking away some of your worries as we bring you OFW loans that you can apply for here in the Philippines. That’s right! There are banks and government agencies offering financial assistance designed particularly for OFWs like you. We want to make this as easy and quick as possible, so we have listed the requirements, loanable amounts, interest rates, and information you’ll need to apply. 

Basically, you’re just a click away from submitting your application, so read on to get started!

What is an OFW Loan?

It is a type of loan specifically designed for OFWs that they can use for home improvement, business, personal, travel, etc. Typically, since Overseas Filipino Workers have different employment types, agencies and banks also require a different set of documents from the applicants. 

Aside from this, the payment term may also vary depending on the employment contract of the applicant. These are some of its major differences from regular personal loans. Don’t worry, it is not that complicated. Let’s check the guide below.

Apply for these OFW Loans in the Philippines

OFW Loans through Government Agencies

Since the COVID-19 pandemic started, more than 800,000 OFWs returned to the country. Many of them lost their jobs because a lot of businesses shut down. As a result, OFWs are now seeking financial assistance from the government, more than ever. 

Take a look at these programs and pick the most appropriate type for you.

Pag-IBIG Multipurpose & Calamity Loan 

Pag-IBIG Multi-Purpose and Calamity Loans are both offered not only to regular members but to OFWs too! 

The Multi-Purpose Loan or MPL is a cash loan wherein you can borrow up to 80% of your savings, and can be approved in as fast as 2 days! It comes at an interest rate of 10.5%* per annum.

MPL Requirements:

  1. Application form
  2. Valid ID
  3. Proof of income:
  • Employment contract
  • Certificate of Employment and Compensation
  • Income Tax Return

The Calamity Loan, on the other hand, is designed to provide financial assistance to members who reside in areas declared under a state of calamity. It has a low-interest rate of 5.95%* per annum, as it aims to help more Filipinos affected by calamities.

Calamity Loan Requirements:

  1. Calamity Loan application form
  2. Valid ID
  3. Proof of income:
  • Employment contract
  • Certificate of Employment and Compensation
  • Income Tax Return

Loanable amount:

You may borrow up to 80% of your Pag-IBIG Regular Savings, for both MPL and Calamity Loan.

How to apply?

Here’s a step by step guide on how to register in Pag-IBIG. After that, you may apply via Virtual Pag-IBIG. OFWs can also apply for Housing Loans, and if you are buying from an accredited developer, Rubysapphire can assist you with the process.

Get in touch with us today, and let’s help you turn your dream house into reality.

SSS Salary Loan and Housing Loan for OFWs  

As an active member of SSS, if you have at least 36 posted monthly contributions, you can apply for both Salary and Direct Housing Loan Facility for Overseas Filipino Workers. The interest rate on the Salary Loan is 10%* per annum, while it’s 8% to 11%* per annum for the housing loan, depending on the loaned amount.

The agency’s housing loan program aims to support the Pabahay sa Bagong Siglo Program of the government, with the goal of providing low-cost and socialized housing to Filipinos working abroad. Let’s take a look at the requirements below:


Register here for the complete list of requirements for the Personal Loan. Meanwhile, here are the requirements for the housing loan:

  1. Mortgagor’s Application form
  2. 1” x 1” ID picture
  3. Certificate of Loan Eligibility (Original)
  4. Certification from OWWA, POEA, DOLE, SSS Foreign Representative Office or Philippine Embassy (Original)
  5. Latest Contract of Employment (Notarized)
  6. Contract to Sell (Original)
  7. Transfer Certificate of Title (Original owner’s copy)
  8. Realty Tax receipt and Latest Property Tax Declaration
  9. Lot Plan duly signed and sealed by Registered Surveyor or Geodetic Engineer.
  10. Building plans/specifications/picture of the house
  11. A set of 12 postdated checks covering twelve (12) monthly installments shall be repeated every 12 months thereafter until the loan is fully paid.
  12. Certificate of Acceptance and Occupancy duly signed by the borrower if the house is 100% complete at the time of loan filing.
  13. Special Power of Attorney (if filing through a representative).
  14. Transfer Certificate Title issued by the Registry of Deeds (Certified True Copy).

Loanable amount:

For the Salary Loan, depending on the total contributions, you can get up to twice the average of your monthly salary credits.

For the Housing Loan, the maximum amount is up to PHP 2 million, based on the capacity to pay.

How to apply?

You may register and apply online.


OWWA or the Overseas Workers Welfare Administration is an agency of the Department of Labor and Employment (DOLE) that aims to provide insurance, health, education, and livelihood programs to every Filipino worker abroad.

The Overseas Filipino Workers – Enterprise Development and Loan Program or OFW-EDLP is a program created by OWWA, with the help of the Land Bank of the Philippines and Development Bank of the Philippines (DBP), to empower the Filipino workers abroad to start their own businesses. It has a low-interest rate of 7.5%* per annum for the entire loan term.


  • Eligible borrowers – OFWs certified by OWWA on membership and capacity building program attended
  • Eligible projects – Viable projects not limited to the following: construction, franchising, rental, service, trading, transportation, agri and non-agri production, and marketing.

Loanable amount:

The minimum loanable amount is P100,000 and the maximum is P2 million for single proprietorship, and a P5 million maximum for partnership, corporation, or cooperative.

How to apply?

Visit the nearest OWWA office.

OFW Loans through Banks

If for some reason you prefer to apply for bank loans instead, these major banks can assist you with their unique programs specifically designed for OFWs. Ideally, the application process will be faster if you will go to the bank where you already have a banking relationship. This way, they can easily check your capacity to pay.

BDO Kabayan Program (Unsecured & Secured Loans)

In 2020, BDO (Banco de Oro) Foundation was awarded for its financial education programs for Filipino workers abroad. With its continued goal of helping our OFWs in need, BDO Kabayan Program is currently offering two types of Personal Loans for OFWs:

  • Unsecured – A great option for OFWs with fixed income. It is non-collateral and multi-purpose. The interest rate ranges from 39.43% to 40.05%* per annum.
  • Secured – Ideal for OFWs without a fixed income but with existing deposit accounts which will be maintained with BDO as security or collateral. Hence, its interest rate is lower compared to the other type, which ranges from 17.06% to 17.08%* per annum.


For Unsecured: 

  1. Application form
  2. Authorization form
  3. Auto-Debit Arrangement Form
  4. Beneficiary Information Form

For Secured:

  1. Application Form
  2. Deed of Assignment Form
  3. Special Power of Attorney
  4. Auto-Debit Arrangement Form
  5. Beneficiary Information Form

Loanable amount:

The minimum loanable amount is P10,000, and the maximum is 90% of your account balance for Peso accounts, while it’s a maximum of 80% of your account balance for Dollar accounts.

How to apply?

Submit your requirements to any BDO branches nationwide, or you may download the forms here.

BPI Seafarer Loan

The Bank of the Philippine Islands or BPI is a universal and first bank not only in the Philippines but in Southeast Asia. Considered one of the most profitable banks in the country, it also offers financial assistance to our Filipino workers abroad. 

Aside from BPI’s financial program that provides auto loans and housing loans for OFWs, BPI also has a fast cash loan program designed for you. It comes with an interest rate of 25.60%* per annum. Prepare your documents and easily apply online.


  1. One Government-issued ID
  2. Proof of income:

For agency-based workers:

  • Latest and unexpired signed POEA contract; or
  • Employment contract w/ boarding date

For direct hire workers:

  • Latest 3 months’ proof of remittance
  • Latest POEA Validated Information Sheet; or
  • Latest POEA Overseas Employment Certificate (OEC) and latest Employment Contract; or
  • Consularized COE

Loanable amount:

The minimum loanable fast cash amount is P20,000 and the maximum is P300,000.

How to apply?

You may complete your application here.

Landbank OFW Reintegration Program

Serving as a government-owned bank, the Land Bank of the Philippines aims to serve not only our fishermen and farmers but our OFWs as well.

With the help of OWWA, Landbank serves to give business opportunities to OFWs through the Reintegration Program. Start your own business to add an income stream and start saving for your retirement. See OWWA OFW-EDLP above for the requirements, loanable amounts, interest rate, and how to apply.

Final Thoughts

Many of us cannot find a job in the Philippines and find ourselves having to travel abroad to meet financial obligations. As of 2020, there were around 1.77 million Overseas Filipino Workers working hard, trying to give their best for their families.

Having to relocate often leaves us vulnerable, prey to unethical lending companies and other people looking to take advantage of the susceptibility. This article seeks to help OFWs by giving them the best options of legitimate agencies and banks that can provide them with financial assistance.

Taking on an OFW loan in the Philippines should be a well-considered decision. For some, these loans can provide an important stepping stone towards building a brighter financial future for themselves and their families. For others, that just may not be the case. Either way, we hope these guidelines have helped you clarify everything that you need for your particular situation. Save and share this article with your family and friends!

*Interest rates as of May 2022

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