Balikbayad – Loan for OFWs Sea-based and Land-based

Company Name: First Digital Finance Corporation

  • Website: https://www.balikbayad.ph/
  • SEC Registration No. CS201516347
  • Contact Information: 

Ermita – Adriatico  0995 429 6450 (Globe) / 0918 345 8003 (Smart)

Ermita – Kalaw  0917 728 0721 (Globe) / 0947 884 9920 (Smart)

Makati – 0977 779 6594 (Globe) / 0949 577 7040 (Smart)

Cebu – 0915 165 9335 (Globe) / 0920 545 8224 (Smart)

  • Email address: info@balikbayad.ph
  • Office Address: 

Ermita – Adriatico – Unit 2A, Kedar Bldg, 1347 Adriatico Street, Ermita Manila

Ermita – Kalaw – 9F, TM Kalaw Center, 667 TM Kalaw Avenue, Ermita, Manila

Makati – 5F, Salustiana D. Ty Tower, 104 Paseo de Roxas, Legaspi Village, Makati City

Cebu – Rm 351, Colon Development Corporation Bldg, Osmeña Blvd, Cebu City, Cebu

  • Their branches are open Monday – Friday 8 am-7 pm, and Saturday 9 am-2 pm

Balikbayad Lending Highlights

Balikbayad is online lending designed to provide the financial needs of OFWs.

Balikbayad has a better product feature. They have NO DEDUCTIONS from the approved loan amount! NO HIDDEN fees! And they give a DISCOUNT for advance payment! 

You are qualified to loan here if you are a:

  • Landbased or Sea-based OFW currently working abroad with an active employment contract or a “Balik Manggagawa” or a first-time OFW and age is between 18 – 65.

If you want to apply for a loan here, you need a Co-Maker. It could be your

  • Spouse
  • Parents
  • Siblings
  • Children of Legal Age

You can loan here with a minimum amount of P20,000.00 and a maximum of P500,000.00 with a flexible loan term of six (6) months – eighteen (18) months for Land-based OFW and three (3) months – eight (8) months for Seaman. The maximum APR is 49% for Seaman and 69% for OFW.

Here are the steps if you want to apply here:

  1. Apply online at their website or download their app at Google Play Store.
  2. Fill out the online inquiry form/ pre-qualification form.
  3. After receiving the notice, visit their office and submit all the documents required.
  4. Get approval 
  5. Get cash – You need a checking account to get the money from Balikbayad.

Balikbayad credit verification requires one-day processing. Once a decision has been made, Balikbayad will reach you in the next business day.

Balikbayad holds charges for late payments. They have a Hold Cheque Fee of P2,000.00 in addition to late payment fees and interest.

If you can’t pay on your due, you should inform them ahead of time so that they can hold your cheque and avoid additional charges from the bank. You can reach them at this number if your repayment is late: +63 2310 1303

REQUIREMENTS:

LAND BASED OFW

  • Passport
  • Working Visa
  • Overseas Employment Certificate (OEC)
  • Employment Contract in English
  • Electric Bill of your Phil. Residence* (last 3 months)
  • Airline Ticket (upon releasing)
  • Age between 18 and 60

BALIK MANGGAGAWA

  • Valid New Employment Contract
  • Payslip

RELATED CO-MAKER

  • 1 Valid primary ID *
  • Proof of Relationship (i.e., Birth or Marriage Certificate)
  • Proof of Remittance with the Co-maker’s name
  • Age between 18 and 65

SEAMAN

  • Passport
  • Seaman’s Book
  • Seafarer’s Registration Certificate (SRC)
  • Overseas Employment Certificate (OEC)
  • Employment Contract in English
  • Electric Bill of your Phil. Residence* (last 3 months)
  • Airline Ticket (upon releasing)
  • Age between 18 and 60

RELATED CO-MAKER

  • 1 Valid primary ID *
  • Proof of Relationship (i.e., Birth or Marriage Certificate)
  • Allotment Certificate with the Co-maker’s name
  • Age between 18 and 65

VALID ID ACCEPTED

  • Driver’s License
  • Unified Multi-Purpose ID
  • Tax Identification Number (TIN) ID

BRANCHES

  • Ermita – Adriatico
  • Ermita – Kalaw
  • Makati
  • Cebu
4.3 / 5 Reviewer
{{ reviewsOverall }} / 5 Users (0 votes)
Pros
Balikbayad has a very accomodating, helpful, well-mannered, and friendly staff that will help you throughout the application process. They hold the record of having a team that will accommodate and treat you well, making the loan process easy and not stressful.
Cons
The loan application is not 100% online. Although the Balikbayad form’s application can be made online, you still need to go to the Balikbayad office to finish the loan process. If you are not a fan of going outside, then this loan service is not for you.
Summary
Balikbayad provides a good service, especially for OFWs. They require fewer requirements, and the process of loan is fast, and they offer competitive rates, making their service excellent and reliable, especially for OFWs who need financial help. Balikbayad has late payment charges, be sure to settle your payables on time to avoid unwanted payments.
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Mayzelle Taze

Content Manager at Pinoy Moneys
Mayzelle Taze is the content manager at Pinoy Moneys. She specializes in writing posts for the loans category to keep our fellow Pinoy updated on loan opportunities.

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