Tuesday, February 7, 2017

OFW Loans 101: How and what you need to get a loan


OFW Loans 101: How and what you need to get a loan
FEBRUARY 04, 2016 


Are you planning on getting an OFW or Seaman loan from a lending company for the first time? If you want to know the process and requirements you should be bringing with you, then you certainly have come to the right place. After numerous visits to different lending companies and interviews with OFWs and Seaman that went through the whole process of borrowing money, we are pleased to share the information that we have gathered with you.

The process of applying in every lending company involves 3 major steps.




1. Inquiry and Application
For this step, you (the borrower) will call or visit the branch of the lending company. You will ask the lending company regarding the details on getting a loan such as the documents you need to submit, the interest and fees that they charge, and the estimated monthly payment given the loan term. The documents that all lending companies ask for are found below. Do take note that there are lending companies that ask for more documents so check our 
document comparison page to see which requirements each lending company asks for.



-Valid ID                                                        -Airplane Ticket
-Passport                                                       -Overseas Employment Certificate
-Working Visa                                                -Proof of Billing
-Employment Contract                                  -Co-maker*
*documents of co-maker vary depending on the lending company



If you have all these requirements ready with you, you may now visit the lending company to apply. You will be asked to submit these documents to the loan officer. After submitting, you have finished step 1!



2. Credit Investigation
The second step won’t involve you for the most part, unless there are some additional findings from the credit investigation. During this step, lending companies will verify information that you have submitted including your employment status, your departure date, the validity of your documents, your home address and many more. If you are hiding anything from these companies, most likely they will figure this out and have a negative effect on your application. Because of this, it is best to inform them from the start regarding any potential problems.



The credit investigation process usually takes a day to be completed, so just wait for a call from the company regarding the decision on your application.



3. Loan Release
The third and last step of the process is the disbursal step. This is the time when you will get your loan and sign promissory notes with the company. Common practice of lending companies is to only disburse the loan 5-7 days before your departure. (If you have urgent needs and your departure date is not anytime soon, we suggest that you find other ways and not go to lending companies to save time.)



On disbursement day, you will be asked to sign post-dated checks for each of your payments. In the event that you do not have a checking account, the lending company will endorse you to a partner bank to open one. (View our
 
features comparison page to see how much each company will charge you for maintaining the minimum balance). You will also be signing your promissory note on this day as well as the disclosure statement which shows you all the interests and fees. Take note that some companies have hidden charges which they deduct to your loan amount that they did not tell you about, and these charges will be seen on the disclosure statement.



Once you have signed all the contracts and post-dated checks, the company will give you the loan either in cash or check. For the repayment of your loan, you have to fund the checking account that you have opened on or before your due date as they will deposit the check on that day. One tip is that if you have problems with your payment, it is best to contact the lending company ahead of time to avoid a lot of penalties.


Wednesday, February 1, 2017

SEAFARERS LOAN, FOR SEAMAN ON - BOARD.


GDFi Loans..
Highly recommended Loan Offer for Seaman and OFW Worldwide.





“PINOY ABROAD LOAN PROGRAM”
 PEDE DITO ANG MGA SUMUSUNOD:





OFW NA KASALUKUYANG NASA ABROAD PEDE DITO RATE 2.49%
SEAMAN KASALUKUYANG ON-BOARD PEDE DITO RATE 2.49 %
OFW NA NAKA- BAKASYON WITH CONTINUES CONTRACT PEDE DITO.
SEAMAN & OFW NA PAALIS NG BANSA, OR PRE DEPARTURE PEDE DITO.
BALIK MANGAGAWA PEDE PO DITO.
IBALITA NYO NA PO SA MGA KABABAYAN NATIN DYAN..

THROUGH ONLINE PROCESS, MADALI NA PO. EMAIL NYO LNG PO MGA REQUIREMENTS..

It comes with the lowest interest rate among our competitors. Our rate is only 2.49 % per month. Non-Collateral Loans, with only 5 percent processing fees.

Qualified Applicant  must be with minimum salary of 20K Pesos.

WITH 80  BRANCHES NATIONWIDE – LUZON, VISAYAS, MINDANAO.




REQUIREMENTS  FOR  OFW/ PINOY ABROAD:
  Completely Fill up Application Form and Promissory Note
   2 Govt. ID’s
Passport and Working Visa with Stamp of Entry / Exit
2 2x2 Picture
Latest Contract & COE
Pay Slip and Proof of Remittance ( Atleast 3 months)
OEC ( Overseas Employment Certificate)
Authorization Letter ( Authorizing Co Borrower to Process the loan)
Plane Ticket or Flight Details ( For Pre Departure Applicant)
BM ONLINE ( If your exempted with OEC)


CO-BORROWER REQUIREMENTS:
(Immediate family like parent, husband/wife or siblings or daughter & son in phils.)
• 2 Valid IDs 
• Proof of Billing (latest electric bill) under name or same address
. Proof of Remittance atleast three months
• Proof of Residency (Brgy. Certificate)
. If  Electric bill is not under Borrower name get BRGY CLEARANCE.
If not married or common law wife bring Birth Certificate of the child.
 REQUIREMENTS FOR SEAMAN:
Completely fill up Application Form And P N.
Copy of Passport and Visa with Stamp of Entry and Exit
Copy of Seamans Book, Seafarer Registration Certificate
Copy of Latest Contract of Deployment with POEA validation
Copy of Embarkation History (tatak ng sakay at baba sa seaman's book)
PRC (if Professional)
• Authorization Letter for co-borrower
Old Passport or Old Seaman's book


PAANO MAG APPLY???? EASY AS ABC..

A.  Email or Sent me here on Messenger All requirements.
B.  Filled up the Application Form and Promissory Note
C.  Email Co Borrower’s Requirements and Contact No.
D.  Wait for our Officer’s Interview.. thru Viber, Skype!!
E.   If Approved, Scheduled the Loan Proceeds or Check Release.


MARAMING SALAMAT PO. SA IBA PANG KATANUNGAN TUMAWAG PO AND WE WILL HELP YOU ALL THE WAY..

RODEL K. ACUNO
Loan Advisor
 SUN : 0942 596 08 89
ADD ME or  PM ME HERE ON FACEBOOK

Blog: rodelkacuno.blogspot.com