Philippine Loans for OFWs In Hong Kong

Working as an OFW doesn’t provide much money (at least not right away), but it promises financial stability. Though you may not become a millionaire in just a few months, saving for future expenses is still a good idea. Eventually, your earnings can keep up with your expenses, leaving some for your savings.

As a result, many OFWs are offered loans by various sources, often used for different purposes. This guide will explain the various types of loans available to OFWs based in Hong Kong and worldwide.

What are Some Loans (Banks and Gov’t Agencies) OFWs in Hong Kong Can Apply For?

Various PH Loans OFWs in Hong Kong Can Apply For

Being an OFW can be hard due to the number of things you have to shoulder for your life overseas and expenses back home. Sometimes, it can feel unreasonable to ask for help due to the number of things you have to shoulder.

Aside from banks and insurance firms, the government also has various programs and services to help people get their financial situation back on track.

Even if it’s not ideal, it’s still a good idea to consider getting a loan. Some institutions can provide better rates than others. Looking for the best deals can help people save money. Doing so can also help them avoid getting into risky situations. Here are some loans offered by various government and banking institutions in the Philippines:

Home Development Mutual Fund (Pag-IBIG) Loan

Various PH Loans OFWs in Hong Kong Can Apply For

Filipinos who have contributed for at least 24 months can now avail of the housing loans available through the Pag-IBIG Fund. The maximum age of eligibility to apply is 65 years old.

The Home Development Mutual Fund is a government agency that offers home loans for low-cost housing. These are also cheaper than bank-provided home loans.

There are various types of Pag-IBIG house loans offered to members. These include home purchase loans, home extension and building loans, home repair loans, home equity loans,  and loans for home refinancing.

A home purchase loan is typically used by people who want to buy a new house or a lot. A home building loan is a type of loan that’s used for the construction of a house.

A home renovation loan is a type of loan that homeowners can use to improve their residential house. On the other hand, a home extension loan is a loan that’s used to extend or renovate a house.

A home equity loan is typically used by individuals looking to borrow money against the house’s value. The money that’s obtained from this loan can be used for various expenses.

Last, a home loan refinance is a type of loan that enables people to save money by transferring their fixed-rate loan to a variable-rate loan.

Social Security System (SSS) OFW Loan

Various PH Loans OFWs in Hong Kong Can Apply For

OFWs can also get loan assistance from the Social Security System. This program provides low-interest home loans to workers with more than 36 months’ worth of contributions.

The Social Security System provides housing loans to overseas workers. These loans are used to purchase a home or build a new one.

However, this program is only available to OFWs who have already married. Suppose the OFW’s spouse has already availed the housing loan before getting married. In that case, the OFW can still apply for this loan as long as they are not considered delinquents in the system.

Prospective borrowers can avail of two types of loanable amounts: a one-month salary loan and a two-month salary loan.

One-month loans are typically computed based on the average of the monthly salary credits indicated in the loan application.

The two-month loan is typically computed based on the average monthly salary credits indicated in the loan application.

The monthly compensation base or MSC of the SSS refers to the sum of the contributions and benefits that the employee provides to the company.

OFW-members can receive their loan proceeds by sending them a check or a prepaid cash card from their SSS partner bank.

Bank of the Philippine Islands (BPI) OFW Loan

Various PH Loans OFWs in Hong Kong Can Apply For

Bank of the Philippines or BPI offers a personal loan product specifically for land-based overseas Filipinos. This product can benefit them as they often face a hard time getting approved for their loan applications.

Overseas Filipino workers can get a personal or car loan if they have been working overseas for at least two years. This benefit is available to persons with a minimum monthly salary of P40,000.

Availing of a non-collateral loan from the Bank of the Philippine Islands is a good alternative to paying bills due to insufficient funds.

This benefit can provide up to P1 million in funding for immediate cash needs. Usually, the approval process lasts about 5 to 7 days. Before applying for a loan, you need to prove that you have a land-based income of at least Php 25,000 a month.

What are the various types of personal loans offered by BPI?

If you are a BPI customer and require financing solutions, there are various ways to get the product that fits your needs, such as:

  • BPI Personal Loan: This loan is unsecured and can be used for personal expenses. It can be secured up to 3 times your monthly earnings and is subject to approval from the bank.
  • BPI Auto Loan: An auto loan is a type of loan that allows individuals to borrow up to Pho 200,000. They then pay off the loan in monthly installments.

What are the BPI Personal Loan Features?

  • Flexible loan amounts. From PHP 20,000 to PHP 1,000,000, you can borrow up to three times your monthly income.
  • Choice of loan terms. You can borrow up to 24 months, 36 months, or 12 months, whichever fits your budget.
  • Auto-debit repayment. You can easily set up an automated loan or debit facility to pay your monthly installments with a BPI account. This will allow you to avoid writing checks.
  • Fast approval and disbursement. Usually, these loans can be approved within seven to ten days after applying.

Security Bank OFW Loan

Various PH Loans OFWs in Hong Kong Can Apply For

Security Bank is a great alternative to traditional banks when providing personal loans. Aside from its low-interest rate, Security Bank’s numerous advantages make it an excellent choice for a personal loan.

Security Bank accepts applications from overseas Filipino workers for home loans and auto loans.

Security Bank offers home and car loan programs to overseas Filipinos. To qualify, the monthly income required for car buyers is at least P40,000. For home buyers, it’s at least P50,000.

What are the various types of personal loans offered by Security Bank?

Security Bank has a variety of personal loans available. This overview will give you a high-level view of what’s available:

  • Security Bank Personal Loan: With an online loan application, you can easily get the money you need in less than five (5) banking days.
  • Security Bank Home Loan: With Security Bank’s home loan, you can secure the home of your dreams. It’s as easy as taking a loan and sleeping in the house that’s been yours.
  • Security Bank Car Loan: With Security Bank’s flexible loan, you can easily get a new car without having to pay huge amounts. Its terms and conditions make it a good fit for everyone.
  • Salary Advance: This benefit allows employees to receive instant cash wherever and whenever they need it.
  • Corporate Salary Loan: A student loan is a type of loan that can be used for various reasons. It can be used to fund a school or purchase a property.

What are the Security Bank Personal Loan Features?

  • Loan periods of 12 to 36 months.
  • Loan amounts ranging from 30,000 to 2,000,000 pesos.
  • A monthly add-on fee of 1.39 percent is charged.

Philippine Savings Bank (PSBank) OFW Loan

PSBank can also help overseas workers get a home loan or a car loan. Like other banks, they require at least two (2) years of experience in the US or another country to qualify for a loan.

What are the different forms of personal loans available from PSBank?

Personal loan products from PSBank are available. Below are a few of the options that they offer.

  • PSBank Personal Loan. PSBank’s Flexi Personal loan provides individuals with a loan amount of PHP250,000.
  • PSBank Auto Loan. PSBank offers to finance for both new and used vehicles. The terms are flexible and can last up to 60 months.

What are the Features of a PSBank Personal Loan?

  • Revolving line of credit. The amount that you can borrow is dependent on the amount that has been used. This feature allows you to have a tight budget.
  • Rebates. PSBank’s Prime rebate is an exclusive feature that allows its customers to earn a rebate after monthly payments.
  • Fast turnaround. It usually takes around 1 to 3 days for your PSBank loan application to get approved. Once it’s approved, you’ll receive your PSBank Flexi Card.

BDO Unibank (BDO) OFW Loan

Various PH Loans OFWs in Hong Kong Can Apply For

Through its Asenso Kabayan Program, BDO offers various loan options for Filipinos. These include home, auto, and personal loans.

Working overseas for at least two years and a monthly income of at least PHP 50,000 allocated for non-collateral personal loans.

With a variety of loan packages, BDO is a bank that can provide low-interest rates and favorable terms to its customers to finance any of the following:

  • Appliances / Electronic Gadgets
  • Balance Transfer / Debt Consolidation
  • Furniture
  • Health and Wellness
  • Home Renovation / Upgrades
  • Medical Emergencies
  • Special Events
  • Tuition / Education
  • Vacation / Travel

What are the various forms of personal loans available from BDO?

  • BDO Personal Loan: It can be used for home renovation or education expenses. It has favorable terms and a low-interest rate.
  • BDO Kabayan Personal Loan Unsecured: Many Filipinos working abroad may need to borrow money to finance their monthly expenses of up to PHP 500,000. A personal loan can save money and avoid paying high-interest rates.
  • BDO Kabayan Personal Loan Secured: Unlike traditional loans, this loan is backed by the deposits of the borrowers in their BDO accounts.
  • BDO Auto Loan: A BDO auto loan is a loan that uses a vehicle as a security. It can be paid off in full or over the years.

What are the Features of a BDO Personal Loan?

  • Flexible loan amounts. Depending on your financial situation and monthly income requirements, you can borrow from PHP 10,000 up to PHP 1 million.
  • Flexible repayment options. You can pay your loan installments in-branch or over the phone. These are available for both in-branch and online transactions.
  • Fast approval. In most cases, a loan request is accepted within ten days.

PBCOM Personal Loan

Various PH Loans OFWs in Hong Kong Can Apply For

With various loan plans and competitive interest rates, PBCOM can provide personal loans that are ideal for students, senior citizens, and those wanting to finance special needs.

PBCom is a leading provider of personal loans that are flexible and competitive. They can be used for various special needs, such as school expenses, home improvement, travel, and vacation.

The Personal loan of PBCOM is a type of unsecured loan that can be utilized to finance various needs, such as home refurbishment and holiday travel.

It can be borrowed from PHP40,000 to PHP1,000,000 and is available for a 12-month term or a longer duration of 48 months.

What are the different types of personal loans available from PBCOM?

  • Personal Loan: This loan can be used for various purposes, such as paying off debts and carrying out home refurbishments. It comes with various flexible terms and a low-interest rate.
  • Auto Loan: Both types of loans can be used for up to 60 months. However, the duration of these loans can vary depending on the type of vehicle.
  • Bike Loan: The bank also allows its clients to borrow up to PHP800,000 for a bike. The loan can be paid over 12, 36, or for up to 48 months.

What are the Features of a PBCOM Personal Loan?

The following section will help you better understand the various features and functionalities of PBCOM personal loans.

  • Range of loan amounts: The company’s loan product is ideal for individuals who usually have a large sum of money. To qualify for this loan, the consumer must have a minimum loan amount of PHP40,000.
  • Choice of loan terms: The loan amount can be paid back in instalments of 12 to 18 months or 24 to 36 months.
  • Fast response to your application: Usually, a loan application is approved within three to five days.

LandBank OFW Loan

Various PH Loans OFWs in Hong Kong Can Apply For

Various types can avail LandBank OFW loan offers of businesses such as construction, franchised establishments, and trading. Through the Land Bank OFW loan program, overseas Filipinos can establish their businesses in the Philippines. Overseas Filipinos can now establish businesses in the Philippines through a Landbank OFW loan.

What are the different types of personal loans offered by LandBank?

  • Easy Home Loan: This loan can help people get financing for a home or construct one. It can also lower their monthly payments.
  • Loans to Farmers: This loan is usually available to people who are involved in the cultivation of various crops such as bananas, coffee, and oil palm.
  • Loans to Fishers: Some of the programs and projects the Landbank can help with are the agricultural credit support project and the fishers financing program.
  • Electronic Salary Loan (ESL): Landbank has launched a new product called Electronic Salary Loan. This loan will enable individuals to get a salary loan.

Metrobank OFW Loan

Various PH Loans OFWs in Hong Kong Can Apply For

Even if you don’t have a credit card, OFWs can still get a loan from Metrobank.

Metrobank has a wide variety of home loan rates and terms. These include home, car, and corporate loans.

A personal loan from Metrobank can help with various expenses, such as school tuition, medical expenses, and an emergency fund.

What are the different types of personal loans offered by Metrobank?

  • Car Loan: Individuals with good credit can get a Metrobank loan to purchase a car or replace their existing one. Metrobank offers various car loan options, ranging from 250K to 80% of the net selling price. They are committed to providing their customers with the best service.
  • Business Loan: Metrobank offers various business loans, such as SMEs Credit Line and Short-term loans.
  • Home Loan: OFWs who would like to borrow money from the bank must be working abroad for at least two years. This ensures that they have a steady income. Metrobank is a great option for people looking to buy a home or get a loan. They require that you meet a few requirements, such as having a good income and being 21 years old or older.

What are the Features of a Metrobank Personal Loan?

  • Flexibility And Versatility: Personal loans can help people get through debts, such as paying for hospital bills. If you think of buying a big-ticket purchase, a personal loan can be a good option. Before applying for the loan, talk to a lender to see what options are available.
  • Low-Interest Costs And High Loan Limits: Personal loans are great for people with excellent credit. They come with lower interest rates than a regular card and can be used for more money.
  • Zero Collateral Obligations: Your personal loan may not require collateral if your credit is in the best shape. This means that if it gets rejected, it can still work with an uncollateralized loan.
  • Zero Worries About Management: It’s important to establish a personal loan if you have multiple credit card accounts at once. Having one payment each month will allow you to manage your debts.

ChinaBank OFW Loan

Various PH Loans OFWs in Hong Kong Can Apply For

Chinabank offers various financial services to Filipinos living overseas. These include home loans, car loans, and student loans.

OFWs are people who want to make the most of their hard-earned money by buying a house or a car.

If you’re an OFW seeking to finance a home loan, Chinabank can help you get the financing solution that’s right for you. Even if you’re not in the Philippines, China Bank can still provide loans for overseas customers.

For those employed for at least three years, Chinabank offers a housing loan. They need to prove that they can afford to pay the loan’s minimum monthly payment of P50,000.

What are the different types of personal loans offered by Chinabank?

  • ChinaBank Home Plus Loan: A HomePlus loan from Chinabank is a type of loan that gives people the flexibility to borrow up to 80% of the appraised value of their home.
  • ChinaBank Auto Plus Loan: AutoPlus is a program that helps consumers save on the purchase of a new or used vehicle within 30 days of their purchase.
  • ChinaBank Commercial Loans: Chinabank provides various types of loans, including short-term and working capital.
    • Short-Term Working Capital Loan
      • Discounting of Post-Dated Checks – A consumer can use this service to convert a pre-dated cheque into cash.
      • Expert Advances and Loans – Export finance is a sort of loan that enables export companies to get pre-export funding.
      • Export Bills Purchased – This lending method enables a borrower to sell assets to a bank or buy a house entirely.
      • Import Letters of Credit – Obtaining this loan allows a borrower to acquire raw materials both locally and abroad.
      • Domestic Letters of Credit Trust Receipts – This function enables customers to liquidate consignment purchases.
      • Receivable Purchase Loan – The proceeds from the sale of the items to the bank can subsequently be used to satisfy the seller’s stored receivables.
      • Loan Line – This tool enables debtors to get loans for working capital.
      • Omnibus Line – The tool enables customers to receive several loan options.
    • Long-Term Working Capital Loan
      • Long-Term Loans – This service attempts to help consumers with various issues, such as obtaining equipment or funding operating capital.
      • Project-Based Financing – Clients of the LBP and SSS can use this option to lock in the conditions of their loans and interest rates.


Various PH Loans OFWs in Hong Kong Can Apply For

RCBC has a variety of loan products that can help meet your financial goals. They can provide you with a lower monthly payment and a better deal with flexible terms. OFWs who have been with RCBC for at least two consecutive years can now apply for a mortgage loan.

What are the different types of personal loans offered by RCBC?

  • RCBC Personal Loan: RCBC MyCash is a loan that can be used for various purposes. It gives individuals the ability to borrow up to PHP 1 Million.
  • RCBC Auto Loan: RCBC offers a low down payment option of 20%, which can be used to finance a vehicle. It also has various terms and terms.

What are the Features of an RCBC Personal Loan?

  • Various loan amounts. You can borrow up to PHP 1 million depending on your credit score and the amount of money you need.
  • Repayment flexibility. There are various ways to pay off your loan, such as through availing a cash or availing availing availing a credit card payment method.
  • Fast approval. You can easily apply for a project online by filling out all the necessary details. Just send the form with the required details.

UnionBank OFW Loan

A personal loan is commonly used to meet unexpected financial needs. Some of these include paying off debts and meeting unexpected expenses.

Union Bank offers a variety of loans to cater to different needs. Its flexible repayment plan lets you borrow up to PHP 500,000.

Even though the interest rate is at 1.6% per month on average, the duration of their loan is typically 240 months. It takes the bank five working days to approve a loan request.

What are the different types of personal loans offered by UnionBank?

  • Salary Loan: The Salary loan can be used to pay for various purposes. It can be used for home renovation, travel accommodations, or paying bills.
  • Home Loan: UnionBank Home loan can help you purchase a home. It has various loan options and interest rates.
  • Auto Loan: Unionbank offers its customers car loan assistance programs. Aside from financing the purchase of a new vehicle, this facility can also be used to purchase a used one.

EastWest Bank OFW Loan

Various PH Loans OFWs in Hong Kong Can Apply For

Aside from checking accounts, EastWest Bank also offers various banking services. If you are a bank customer, you can get a personal loan online or phone.

EastWest Bank offers a personal loan, which can be used for various purposes. Usually, these loans can be approved in a couple of working days. The bank processes these loans even though it takes quite a bit of time to get them.

What are the different types of personal loans offered by EastWest Bank?

  • EastWest Personal Loan: EastWest Bank offers a personal loan available to people with good credit. Usually, these loans come with low monthly installments.
  • Auto Loan: It accepts car loans at low-interest rates. Aside from these, it also has various downpayment options.
  • Home Loan: With flexible interest rates, EastWest Bank can give you the ability to make monthly payments in 30 years.

What are the Features of an EastWest Bank Personal Loan?

  • Competitive Interest Rates: Having a low-interest loan can help you manage your cash flow and avoid making costly mistakes.
  • Fast Processing: One of its key features is its convenience. You can easily apply it from anywhere, even if it’s in your home or office.
  • Flexible Payment Terms: EastWest Bank’s Personal loan can be paid in installments of up to 36 months.
  • Loan Amount: The amount used for loans or purchases can be as low as PHP 25,000 to 2 million.
  • Multi-Purpose: Aside from loans, the bank can also offer Personal Loans specifically designed for various purposes, such as settling medical bills and weddings.
  • No Collateral Requirement: EastWest Bank allows its customers to borrow up to 80% on a car loan without putting their house or vehicle as collateral.


Getting a loan is one of the biggest fears many people have. They often have second thoughts about paying their monthly dues. Aside from paying their dues, the biggest challenge people face is finding a loan institution that can provide them with the necessary funds. It could be that unforeseen circumstances caused the situation to get worse. Other factors such as high-interest rates and low income could also have affected the situation. After they stop paying their debts, many people get harassed or threatened by their creditors. With this in mind, be sure to only take out loans from reputable institutions. You must also be prepared to settle your dues regularly to avoid being blacklisted from financial institutions and even by the government.

READ NEXT: How to Save Money as a Domestic Helper in Hong Kong

Leave a Comment