best ofw loans- a picture showing a filipino that applied for ofw loans

10 Best OFW Loans Philippines With Fast Release and No Hassle

You DON’T need to BEG to avail of the best OFW loans in the Philippines. As long as you’re a legit OFW and submitted all the requirements, you will get the cash you need. 

PSA’s April to September 2021 data shows 1.83 million Filipinos work abroad. And based on the Department of Migrant Workers’ projections, the number of OFWs is expected to hit 2 million this year. 

What does it mean?

It means Filipinos BADLY need money! 

We have great news if you want to know the best OFW loans. 

This article will share the 10 BEST OFW loans in the Philippines with FAST RELEASE and NO HASSLE!

What is an OFW Loan?

Simple- it’s a loan for OFWs. Yes. Seriously!

But the question is: where to avail of the best OFW loans? I’m sure it’s not just about the OFW loan one day process or some extraterrestrial being willing to help you get the funds you need. 

To know the best OFW loans, you need to research. But if you know how to make money passively, don’t bother doing it, right?

Government and private institutions offer OFW loans for various purposes. Common types include personal, home, car, and business loans. 

However, there are times when these loans overlap. That is why you should check the terms and conditions of a loan you are applying for. 

What are the Common OFW Loan Purposes

Search queries such as ‘What are the best Bank OFW loan Philippines’ or ‘What is the best OFW bank in Philippines’ are high. This is because OFWs want to ensure they only deal with a trusted bank. 

But before we delve into the top 10 best OFW loans, let us first understand why an OFW is compelled to borrow money. 

 We compiled some of the most common reasons below: 

1.    Education– Filipinos view education as an avenue to end poverty. That is why one of the main reasons why an OFW borrows money is to finance education. But since Filipino households are extended in nature, this responsibility has become broader. OFWs do not only send their children to school but relatives as well. 

2.    Business– An OFW may also apply for a loan to start a business. The main issue in opening a business is the capital, right? But that is no longer a problem because many lending companies provide the best OFW loans. 

3.    Debt Consolidation– Many OFWs have loans before going to their destinations. It’s because employment agencies shouldered all the pre-departure expenses. But they have to pay for it. Moreover, some OFWs have existing loans due to other personal circumstances. They can pay these loans AT ONCE by borrowing money from a trusted bank or lending company. 

4.    Vacation– OFWs certainly deserve a break! So, a grand vacation is a great idea. But some OFWs borrow money for vacation because they don’t want to compromise their tight budget.

5.    Emergency– When an emergency strikes, who are you going to call? No. Not Ghostbusters, but OFWs! Assisting in emergencies back home is another reason why an OFW borrows money. This includes medical, fire, and disaster emergencies.

10 Best OFW Loans in the Philippines- FAST and NO Hassle

1. SSS Salary Loan (Different Cash Needs)

With a 10% annual interest rate, SSS Salary Loan is one of the best options for OFWs. The interest rate is computed on diminishing balance. This means the interest rate will be calculated based on the monthly outstanding loan amount. 

An SSS member with 36 posted monthly contributions (6 months should be within the last 12 months before the application) can apply for SSS Salary Loan. This loan covers both employed and voluntary-paying members. 

In SSS Salary Loan, you can borrow money equivalent to your one month salary. Meanwhile, members who reached 72  posted monthly contributions (6 months should be within the last 12 months before the application) can borrow tantamount to two months of their salary. 

The SSS Salary Loan is unavailable for members already granted final benefits, including retirement, permanent disability, and death. Moreover, only members below 65 years old during application are allowed. Lastly, you should have a clean SSS record (with no disqualification cases) to be granted this loan. 

First loan

0% fees

97% recommended

Repayment: Up to 180 days

Age: 21-70 years old

Up to P25,000

Best Choice

SSS Salary Loan for OFWs Requirements

  • Member Loan Application Form
  • Two valid IDs (with a recent photo)
  • An SSS digitized ID or E-6 

2. Bank of the Philippine Islands (BPI) OFW Loan

 There is no need to search for ‘the best Bank OFW loan’ because BPI covers you!

BPI offers many loan options for OFWs. But this time, we will focus on BPI Personal Loan for OFWs. 

BPI OFW Loan allows you to borrow up to three times your gross monthly salary. And with a whopping PHP 3,000,000 maximum loanable amount, truly, you will not ask for more!

With a 20% monthly interest rate, BPI Personal Loan is a great option for OFWs. Terms of payment are flexible as well. You can pay for 12, 18, 24, 48, 30, or 36 months depending on your preference. 

Any Filipino citizen can apply for this loan. However, the applicant should be at least 21 years old and will not be more than 60 years old at loan maturity.

Bank of the Philippine Islands (BPI) OFW Loan Requirements

  • OFWs hired via an agency:
  • Most recent and unexpired signed POEA contract or employment contract with boarding date
  • Direct hired OFWs:
  • Proof of remittance (last three months)
  • Unexpired, most recent, and signed POEA Validated Information Sheet or latest POEA Overseas Employment Certificate (OEC), and latest employment contract
  • Consularized COE ( needed if the remitter is a permanent resident in the country)

 3. Philippine Savings Bank OFW Loan (Personal Loan)

The Philippine Savings Bank (PSBank) OFW Loan can cover a variety of purposes, such as credit card payments and medical costs. This is another excellent loan program especially made for OFWs. 

 PSBank’s Personal Loan allows OFWs to borrow up to PHP 250,000. It implements a 2.5% monthly interest for revolving loans. On the other hand, a 1.75% monthly interest is applied for a fixed-term loan. 

All OFWs can apply for PSBank OFW Loan provided they can present the required documents. No need to worry about the OFW bank loan requirements because they are easy to procure.  

PSBank OFW Loan Requirements

  • Consularized Certificate of Employment (for contractual workers)
  • Job Contract
  • Payslip and proof of remittance for the last 3-6 months
  • Latest Income Tax Return


4. BDO Unibank- Kabayan Loan


With the main pitch of providing OFWs with cheap interest loans plus simple repayment terms, BDO Kabayan Personal Loan is another option you should consider. This is perfect to cover all your personal needs, including home renovation, tuition, debt repayment, special occasions, and health emergencies. 

The best loans for you 💸

Interest rate

0% at first loan

95% recommended

Repayment: Up to 180 days

Age: 21-70 years old

Up to P20,000

Best Offer

BDO Kabayan Personal Loan comes with two options: unsecured and secured

  • Unsecured- Offers up to PHP 500,000 loanable amount depending on the wage. Kabayan Personal Loan allows OFWs to borrow at least twice their monthly salary provided they have more than three years of employment record. 
  • Secured- If OFWs can guarantee their individual or joint bank account deposits with BDO, they can choose the secured loan. For Peso accounts, you can borrow up to 90% of your deposit sum. Meanwhile, those borrowers with Dollar accounts can borrow up to 80% of the total deposit amount.

Below are the criteria you should meet to become eligible to apply for BDO Kabayan Personal Loan:

  • Must be a Filipino citizen
  • At least 25 years old during the application and should not be more than 65 years old at loan maturity
  • At least three years of continuous employment contract
  • Must have at least one landline phone, either in residence or site of employment
  • Gross monthly income of PHP 20,000 or its USD equivalent
  • Good credit standing rating

BDO Kabayan Personal Loan Requirements

For Unsecured BDO Kabayan Personal Loan:

  • Application Form
  • Authorization Form
  • Beneficiary Information Form
  • Auto-debit Arrangement

For Secured BDO Kabayan Personal Loan:

  • Application Form
  • Special Power of Attorney
  • Deed of Assignment
  • Auto-debit Arrangement
  • Beneficiary Information Form

 5. Security Bank OFW Loan


Another best option for OFWs is the Security Bank OFW Loan (Personal Loan). This loan implements a 1.89% monthly add-on rate. And the maximum loan term is three years.

Also, this loan has two options: secured (with collateral) and unsecured (without collateral). Despite having the same terms and conditions, interest rates for secured loans are usually higher compared to unsecured.

Proceeds of this loan are usually used for medical expenses, credit card payments, and other personal obligations and commitments.

Who are eligible to apply for this loan?

Well, first and foremost, you should be an OFW (with Filipino citizenship). But there’s a strict age requirement. All applicants should be at least 21 years old at the time of application and should not be more than 65 years old upon loan maturity. Moreover, all applicants must submit a residential or office landline number. 

Security Bank OFW Loan (Personal Loan) Requirements

  • 1 valid government ID
  • Any of the following income documents: Certificate of Employment and Compensation within the last six months, latest payslip, latest ITR

6. EastWest Bank OFW Loan 

Search queries like ‘what are the best ofw loan eastwest bank’ is also noticeable. Not a problem anymore. We have included EastWest Bank OFW Loan in our list. 

If you want to borrow up to PHP 2,000,000, apply for EastWest Bank OFW Loan. This OFW loan follows a 1.49%- 1.89% interest rate with flexible term options ranging from 12, 18, 24, and 36 months. And believe it or not, you don’t need to present any collateral or co-maker to avail of this loan. 

All OFWs (with Filipino citizenship) can apply for EastWest Bank OFW Loan. However, this offer is also available for foreigners, provided they can show proof of permanently residing in the Philippines.

Same as with the other OFW loans, an applicant should be at least 21 years old at the time of filing and will not be more than 65 years old upon loan maturity. A PHP 15,000 gross monthly income is also required. Lastly, you should also provide a landline number. 

EastWest Bank OFW Loan Requirements

  • Fully accomplished online application form
  • Photocopy of valid IDs (with signature)
  • For foreign nationals, they should submit any of the following: Alien Certificate of Registration, Photocopy of Resident Visa stamp found on Passport, or Immigrant Certificate of Registration

7. Metrobank OFW Personal Loan

OFWs should look for a trusted bank to borrow money. Just a single mistake and their hard-earned money is out of the blue. 

Metrobank OFW Personal Loan is one of the safest loan options for OFWs. It offers competitive rates for various loan purposes, including medical expenses and credit card payments. 

Under this OFW loan, the minimum loanable amount is PHP 5000,000. In terms of the interest rate, the effective market rate on the date of loan release will be followed. 

Metrobank OFW Personal Loan Requirements

  • Must be actively employed/ employment contract already renewed and signed before the loan application
  • Must earn at least PHP 30,000 a month

8.  RCBC OFW Loan

If you’re an OFW, you can also avail of RCBC’s Personal Loan. There are two options available: secured and unsecured. As you may already know, secured loans have collaterals, while unsecured ones don’t.

RCBC OFW Loan Requirements

  • Residence requirements (2 years for owned and 3 years for rented)
  • Must not be more than 65 years old (if employed) or not be more than 70 years old (self-employed) upon loan maturity
  • At least two years holder of a Philippine-issued credit card 

9. PNB Own a Philippine Home Loan

This is another OFW quick loan option that you should try. 

But aside from building a new home, you can also use the proceeds for property renovation, refinancing, and construction cost reimbursement. 

The PNB Own a Philippine Home Loan is available in New York, Los Angeles, Guam, Singapore, Hong Kong, Japan, the Middle East, and Europe. 

You can borrow up to PHP 5000,000 (or its foreign currency equivalent in USD, HKD, JPY). The interest rate will be computed based on the prevailing rate during loan approval. 

You are eligible to apply for a PNB Own a Philippine Home Loan if you meet the following criteria:

  • Filipino citizen
  • Natural-born Filipinos residing abroad are also entitled but only limited to the procurement of up to 1,000 square meters of lot area
  • Should be at least 21 years old at the date of the filing and will not be more than 65 years old when the loan matures
  • Foreigners are also allowed, but for the acquisition of condominiums only

PNB Own a Philippine Home Loan Requirements

  • Photocopy of Passport 
  • POEA- approved Contract / Certificate of Employment (COE) should be authenticated by the Philippine Consulate (if direct hired)
  • Inward remittance proofs (PNB or other banks)
  • A PNB-prescribed Special Power of Attorney (SPA) 
  • SPAs executed and notarized abroad should be authenticated by the Philippine Consulate 

10. Pag-IBIG Housing Loan

If you’re looking for a housing loan with a low-interest rate, we recommend the Pag-IBIG Housing Loan.

This housing loan offers less than a 10% annual rate for a 30-year loan.  

Are you convinced now? 

Okay, we’ll tell you the documents you must prepare to apply for Pag-IBIG Housing Loan. 

Pag-IBIG Housing Loan Requirements

  • Any proof of income, such as employment contract and employer’s certificate of income (original copy)
  • Notarized Special Power of Attorney (must be notarized before the departure date/ can also be authenticated by the Philippine Embassy or Consulate office of the destination country)
  • OFWs 60 years old and above are required to present a Health Statement Form

That’s the end of our list! 

Now, you know how to avail of a quick cash loan for OFW. Just think of these 10 options, and you will never go wrong!


See? It is not difficult to find the best OFW loans. We put only the BEST options because we value every Filipino working abroad. 

So, the next time you apply for an OFW loan, refer to the information in this article. We love OFWs and will only offer them the best OFW loans they deserve!

The best loans for you 💸

First loan

0% fees

97% recommended

Repayment: Up to 30 days

Age: 21-70 years old

Up to P25,000

Best Choice

Interest Rate

0% at first loan

98% recommended

Repayment: Up to 30 days

Age: 20-65 years old

Up to P20,000

Super Fast

Waiting Time

Instant Approval

95% recommended

Repayment: Up to 180 days

Age: 21-70 years old

Up to P20,000

Best Loan

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