Banco De Oro Personal Loans  » Finance  »
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Ground Floor Union Ajinomoto Bldg., Sen. Gil Puyat Avenue, Makati City
  • Payment scheme was also more convenient with BDO because they accept over-the-counter payment, or savings deduction
  • I chose the first option than issue them post-dated check or have them deduct my monthly dues to my savings account

    • by weddedwandergirl
      TRUSTWORTHY

      all reviews
      Two months ago, I attempted to apply for a personal loan in BDO, Gil Puyat branch. It was not my first time to apply for a loan, in fact I have an existing loan from another bank which I am able to pay on time.

      In order to get my application processed accordingly, I submitted the duly-signed personal loan form from them, a copy of my ITR, one


      month payslip, and a copy of two valid IDs.

      Normally, and based on the expectations given to me, the approval time would take between one to two weeks. But in my case, it only took one week for me to get an approval message from them that my loan amount was ready for claim.

      It has been an easy transaction for me, and I am guessing it helps that I ...


      • am religiously paying my other loan from another bank that made BDO decide that I am not a delinquent payer, after all. Hence, the approval came rather quicker.

        Unlike other banks, BDO is no longer mailing account statements of your loan due date. Instead, they sent me a loan card, indicating my monthly due amount and date.

        Payment scheme was also more convenient with BDO because they accept over-the-counter

        payment, or savings deduction. I chose the first option than issue them post-dated check or have them deduct my monthly dues to my savings account. This way I have full control of my own savings.

        When it comes to interest rates, BDO gives lower rates. I should know, because like I said I have an existing loan from another bank the rates comparison is by far better with BDO.




    +2
    shine0908 says :

    We find ways..a very catchy line for your banks advert and I hope your bank can open that way w BPO employees..I understand that now we should have a credit card background and other requirements for credit rating reason but for cases of emergency this will be difficult for us to build that fast.I did attempt to apply w your bank and even attempted to open an account but had a bad experience w a bank staff and declined for loan w c I simply understood why bec. I just started from my work back then some few months..most of us recently are taking cash loans to non registered lenders and paying such high interest..if we can pay as agreed w these loans then the more I can pay a bank loan w o being more in debt due to the affordable interest.These people are earning so much than the banks get from the loaners coz one person pays 10% a month imagine if it`s for a year or more term..and is widely on going now..hope banks will open their doors again to BPO employees like a normal salaried person.

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    Galega says :

    Actually, banks don’t want to take risk when it comes to finances (their lifeblood).

    What if you are absolutely new, and doesn’t have anything to show as your credit score? Don’t worry, everyone start with zero credit score. You can still get a loan, and with timely payment can get optimum credit score. All you need to do is to apply with some guarantor. They will definitely consider your application. Try to make a strong relationship with your financial institution, and in no time you will find that your application for loan, if any in future, is accepted easily.

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    +1
    juliet says :

    Hi I’m OFW and I planned to personal loan. Can I take a personal loans even I don’t have account in BDO? And what requirements needs. Pls…answer asap

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    John says :

    You will need an account. These are other requirements :

    “1. Must be 25 years old upon loan application to 65 years old upon loan maturity.
    2. Gross Monthly Income of P20,000 or its USDollar equivalent.
    3. Filipinos OR Former Filipinos with or without dual citizenship OR Filipinos married to foreigners OR Foreign Based Filipinos/OFW and their Beneficiaries. (For Secured Personal Loan)
    4. At least 2 years continuous employment contract 3 years for other employment.
    5. Must have at least one (1) landline phone at either local or foreign residence or employment location.
    6. Beneficiary must be living or working within BDO serviceable areas must have landline.
    7. Should have a Banco De Oro Current Account, Savings Account or Time Deposit with a minimum placement of P15,000 or its US Dollar equivalent. (For Secured Personal Loan)
    8. With good credit history.”

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    Jenny says :

    My dad applied for a car loan. He is 65 years old, will they immediately deny his loan request? we have a time deposit in BDO and a savings account from them. We lease houses for a living, we submitted 3 contracts of lease. We are planning to acquire a mitsubishi mirage which is P628,000 and we are planning to make a P400,000 downpayment and the remaining amount payable for 2 years. Are there still any chances that we get an approval?

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    Galega says :

    The bank is not supposed to immediately deny your loan application. Disbursing loan is the backbone of profit made by banks, and they can’t do this type of reckless behavior. You are an old customer of BDO and hence the possibility of your approval will be even brighter. Get your credit score from a reputed source, or from BDO and make an application in line with your credit score. You should get loan as soon as possible.

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    0
    weddedwandergirl replies :

    If your loan is approved you will receive a text message telling you that your loan is approved and to contact them for further details. You can also call their customer service at 631-8000, one week after you filed your loan application, to check the status of your loan.

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    0
    Anne Frigillana says :

    Is a home phone one of the requirements? or can i use my office phone?

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    MEV says :

    Hi Anne,

    you can use either of the two. Home phone number is better.

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    Galega says :

    You can’t, and in fact shouldn’t, use your office phone. Though, you can definitely write down your office phone, but only if only you are going to receive the call.

    It is always better to use your personal number as far as financial stuffs are concerned. Your personal number may sometimes be used for identification purpose. Then, they may call sometimes on your personal number regarding any new policies, or your account issues.

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    Rhod says :

    Much better if you will use your home phone so that they can verify faster.

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    0
    jovie poblete says :

    2 months ago my husband applied for asrnso kabayan loan but still the bank did not call or text us what happened to our application

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    M says :

    Hi Jovie,

    You can go to your branch to make a follow up or call BDO Customer Support Hotline number at 631-81000
    Domestic Toll-Free Nos.
    1800-10-631-8000 (PLDT)
    1800-3-631-8000 (Digitel)
    1800-5-631-8000 (Bayantel)
    1800-8-631-8000 (Globelines)

    INTERNATIONAL
    (Int l. Access Code) 800-8-631-8000

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    Galega says :

    It is 2 months now. If your application is approved they will call you. Scrutinizing the application form and making decision about disbursal of loan is done within 15 days.

    Obviously, your application is rejected. You can visit the branch or call the customer care executive to know about the reason behind disapproval. Customer care executive may not help you in this case, though.

    Remember, you will not get a call if your application is disapproved.

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    0
    vanessa says :

    im a student and i have a kabayan account on bdo is it possible for me to borrow money from them..

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    John says :

    Generally speaking if you have a kabayan account you can borrow from it. You should also check this link on the BDO website with more specifics:

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    Galega says :

    Yes, an account holder of Kabayan can get a personal loan. Some of the basic requirements are:

    The following are the type of deposits allowed for this facility:
    Peso or Dollar Savings Account
    Peso or Dollar Time Deposit at least co-terminous with the loan tenor
    The minimum deposit requirement is P15,000 or its dollar equivalent. Though, the loan proceeds will be in Pesos.
    Applicant should be the OFW only. However, if the deposit collateral is a joint account, beneficiary may apply as a principal borrower of the loan
    The following cannot be allowed to be held as collateral
    In Trust For accounts
    Accounts with existing/ongoing hold-out arrangements

    Having said that, you should keep in mind that it is not easy for a student to get a personal loan (which is considered quite risky).

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    Sharmyn Ruado says :

    How about if you are a former OFW and you wanted to get a personal loan ?

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    Galega says :

    Banco De Oro offers personal loan for many categories of people.

    If you are no more an OFW, you can obviously not apply for personal loan in this category. You can choose to apply for a different category. You haven’t mentioned your status now, hence it is not possible to offer you a solution here. If you are now permanently located in the Philippines, you can visit a branch for advise.

    You can also call to Banco De Oro for suggestion. Here is the customer care number:

    631-8000

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    0
    Christy says :

    re : I chose the first option than issue them post-dated check or have them deduct my monthly dues to my savings account
    I totally agree that paying over-the-counter is really better than having the monthly dues deducted from the savings account simply because it won’t be called a saving anymore if it will serve as a payment to debts or loans.
    Before, when I didn’t have my credit card yet, I used my debit card in paying for my purchases. Later on I realized that there was nothing left already or the amount never went higher but lower in my debit card/savings card. Therefore, in order to be able to really save is not to touch our savings account. Another good thing the first option can bring is that we will be forced to lessen our expenses so as to have some cash left to pay for our monthly dues in the bank rather than spend all we have and rely on our savings to cover our dues.

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    Galega says :

    Having monthly dues deducted from savings account - automatically - is in fact far much better than physically visiting the branch to pay over-the-counter.

    Electronic Clearing System (ECS) is now preferred way worldwide to pay your equated monthly installments. On the contrary of your logic, which might be true in many circumstances, I suggest to use ECS - getting money deducted automatically from savings account.

    It will not only save time, but also can come handy in avoiding late fees. For example, sometimes you may not be able to visit the branch because of some problems.

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    0
    francis says :

    can we apply for student loan even if my parent has less than 100k annual gross income,or instead can i apply myself for the loan? i have kabayan savings account,with a monthly remittance of not less than 15k

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    Galega says :

    If your monthly remittance is not less than P 15K, you can definitely apply for personal loan against your Kabayan account. Here are requirements:

    The minimum deposit requirement is P15,000 or its dollar equivalent. Though, the loan proceeds will be in Pesos.

    Applicant should be the OFW only. However, if the deposit collateral is a joint account, beneficiary may apply as a principal borrower of the loan

    As far as student loan is concerned, your parents/guardian need to make an application for the same

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    0
    kaloy says :

    I am planning to do a bdo loan for consolidating all my debts in one bank, my friend, who works in a bank told me not to use that reason because it will be most likely going to be declined. She said to use Travel or Home improvement as the reason. Is it really ok that i tell them a different reason? and is it true that “debt consolidation” will e most likely denied of the loan? thank you…

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    Galega says :

    I won’t suggest you to use a different reason. The bank doesn’t give loan without proper verification. If found, your application will be instantly rejected. Why should you take the risk?

    Proceed with your true information. If you want debt consolidation, you can do it. The process for it is definitely a bit tough, but you can still sail through.

    You can call the customer care of BDO for suggestion on this number: 631-8000

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    0
    Owen says :

    We had our house and lot title tendered to BDO for a loan amount of PHP500,000, my mother paid them monthly as negotiated so the remaining amount after a couple of months should be about 320,000 Pesos. We decided withdraw the title from Banko De Oro but to our surprise, they increase the remaining payment on the same day after knowing that we want to get our title back up to a staggering amount of 480,000 which is exactly not in the contract that my mother signed for.

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    Galega says :

    It is your legal right to get title back any moment. The BDO will definitely charge some extra amount for it.

    However, the amount you are mentioning is really astronomical. I think there might be some procedural lapse. Further, they can’t increase the amount without your application for the withdrawing the title. Mere intention of doing so can’t be a basis for asking for the fee. You should immediately contact BDO to get clarification on this point.

    I think this is a just an error.

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