Monday, September 21, 2015

OFW Cash Loan

OFW Cash Loan is a new loan product offered by many lending companies or loan providers to qualified Overseas Filipino Workers. OFW cash loan is a non-collateral type of loan which means that OFW's who wish to apply for this type of loan don't need to present any kind of collateral in order for their OFW cash loan to be approved. All it takes to have your OFW cash loan to be approved is to pass the pre-qualification interview and to submit all the documentary requirements plus you need to have 20K basic salary as stated in your work contract. And to provide you with the details, we have posted below all the important information that you need to know if you wish to apply for the OFW cash loan that we offer.

Basic Qualification Requirements:

  • Must be Filipino Citizen
  • Between the age of 21 to 59 years old upon loan maturity. 60 years old and above must possess SPA (Special Power of Attorney)
  • Legitimate contact numbers (this will be checked)
  • Documented source of income
  • With available co-borrower (must be immediate family member)  

Documentary Requirements:

  1. Completely filled up application form
  2. POEA validated latest contract
  3. OEC (overseas employment certificate)
  4. Latest and updated valid passport
  5. E-Ticket
  6. Visa
  7. 2 valid primary IDs (government issued ID's)
  8. Water or electric bill - (doesn't have to be under borrower's name but must have same address as 2 valid primary IDs
  9. [if Balik Manggagawa] provide all BM docs

Since the OFW Cash Loan we offer is a non-secured and non-collateral loan, each OFW cash loan applicant is required to have a co-maker who can submit the following documentary requirements:

Co-borrower Requirements:

  • Latest original electric or water bill if not living in the same house with OFW applicant
  • 2 valid primary I.D.'s 
  • If not immediate family member, co-borrower must provide proof of regular income (may come from business/remittance/regular job/property for rent, etc.)

Loan Interview Tips

For your OFW cash loan to be approved, we have posted below some tips about things you should and should not disclose during your OFW cash loan interview:

  • Never tell the interviewer any unnecessary excessive expenses you made and never disclose any of your properties that are under a mortgage.
  • Never disclose to the lending company or even put in your loan application form if you have a relative or friend that is, with the military, with the PNP, the media, in politics, or even a friend who is a lawyer.
  • If possible, declare as many sources of income as you can but make sure that you can back it up with the proper documents.

Loanable amount and monthly interest rate

For the OFW cash loan we offer, the interest rate is 2.5% monthly add-on and the maximum amount of loan that may be approved is as much as 200% of the basic salary of the OFW as specified on the OFW's contract. For the processing of your OFW cash loan, it will only take a maximum of 3 days and 1 day being the fastest provided the loan applicant and co-borrower have the complete and correct set of documents required by the lending company.

So if you are qualified and interested in applying for the OFW Cash Loan we offer, CALL NOW!!! Our mobile numbers are 0997-508-4837 for GLOBE and TM subscribers and 0949-857-2250 for SMART and TNT. You may also send your inquiries thru our email address We are looking forward to assisting you on your OFW Cash Loan application.