Even Filipinos working abroad have much to benefit from loans, especially those designed for their unique needs. This is where a CTBC Bank OFW Loan can assist you. The bank promises to provide qualifying customers with quick and easy access to cash through their OFW Loan program. Let’s take a closer look at the benefits of acquiring one.
To choose a loan program that suits your demands and conditions, you should check into several financial organizations and compare their offers. You will be able to locate anything that meets your needs if you do this, whether it is financing a house, automobile, or business.
To avoid damaging your credit score, you must understand the terms and characteristics of any loan program you are contemplating. Failure to adhere to this criterion may make future funding from the same or other institutions more difficult, emphasizing the need for compliance.
Applying for a CTBC Bank OFW Loan
Overseas Filipino Workers (OFWs) can apply for a CTBC Bank OFW Loan to cover medical expenses, tuition, or to establish a business.
CTBC Financial Holding Co., Ltd. is Taiwan’s largest international financial institution. CTBC Bank, CTBC Securities, CTBC Life Insurance, CTBC Insurance Brokers, CTBC Venture Capital, CTBC Asset Management, CTBC Investments, CTBC Security, and Taiwan Lottery are among its nine subsidiaries. CTBC Bank, CTBC Holding’s main subsidiary, was founded in 1966. It is the largest credit card provider as well as the most established and multinational privately held bank.
CTBC Bank has 152 branches throughout Taiwan as of 2021, as well as over 260 overseas service outlets (office, branch, subsidiary, branch or subsidiary) in the United States, Canada, Japan, India, Indonesia, the Philippines, Hong Kong, Singapore, Malaysia, Thailand, Myanmar, Australia, Vietnam, and China.
And here’s how a CTBC Bank OFW Loan works for all consumers:
Here’s Why You Should Get a CTBC Bank OFW Loan
Established in 1995, CTBC Bank (Philippines) Corp. was one of the first foreign banks to enter the country. It was able to establish a niche-based strategy and deliver innovative and efficient services in a competitive environment. The bank was also able to draw on the strengths of its parent company, CTBC Bank, and its local subsidiary, to create a unique customer experience.
The bank’s brand promise “We Are Family” has gained new meaning in the Philippines due to the continuous development of its operations and the establishment of strong relationships with its customers. This has allowed it to achieve its goal of becoming a leading financial institution in the country. The results of its efforts can be seen in the bank’s solid financial performance and the growth of its clients.
Advantages of Applying For a CTBC Bank OFW Loan
CTBC Bank provides a user-friendly and customer-centered service to meet its clients’ needs, as proven by:
- Fast processing of loan applications;
- High interest on the loan for the borrower
Types of CTBC Bank OFW Loan
CTBC Bank OFW Loan programs include housing, salary, and small business loans.
The paragraphs that follow go into greater detail about the characteristics, requirements, application process, and benefits of each CTBC Bank OFW Loan program.
CTBC Bank Housing Loan Program
CTBC Bank’s housing loans help families achieve their dream of becoming homeowners. These products are designed to meet the needs of today’s working families. With various payment options and a variety of monthly plans, it’s simple to build your own house.
Features:
Facility: Term Loan
Purpose:
Purchase of:
- House & Lot
- Condominium Unit
- Townhouse
- Lot Only (for future construction of primary home)
- Lot with house construction
- House Construction
- Refinancing
- Refinancing of the lot (for future construction of primary home)
- House Renovation / Home Improvement
- Personal Investment (purchase of another asset)
- Personal Consumption (travel, medical expenses, etc.)
- Working Capital
- Business Investment / Expansion
- Others
Loan Amount: Minimum of PhP500,000 but not exceeding PhP50,000,000.
Processing Time: 5 banking days
Term: Up to 20 years
Interest Rate: Prevailing Home Loan rate at the time of availing
Interest Rate Fixing: 1, 2, 3, 4 or 5 years fixing term
Repayment Plan: Principal and interest payable in equal monthly amortizations until fully liquidated
Eligibility
For Salaried Individuals, Professionals, Self-Employed:
- Must be between 21 and 65 years old upon loan maturity
- With a minimum gross monthly family income of PhP50,000
- Must be Filipino citizens
- Must have an office and residence landline or mobile number
Must have the following employment/business status and/or tenure:
- for salaried individuals – permanent in status and with at least six (6) months tenure with the present employer or two (2) combined work experience, including the most recent employer
- for professionals – with more than or equal to three (3) years of practice in the profession
- for self-employed – with more than or equal to three (3) years in business operations
Note: Qualifications apply to both housing loan borrower and spouse/co-borrower.
For Overseas Filipino Workers (OFWs):
- Must be between 21 and 65 years old upon loan maturity
- With a minimum gross monthly income of PhP50,000 for land-based loan applicants and PhP80,000 for sea-based loan applicants
- Must be a Filipino citizen
- Must have an office and residence landline or mobile number
- Must have at least three (3) years of work experience as an OFW or seaman, and at least six (6) months employed in the present company
- Must have a locally assigned co-borrower
- Note: Qualifications apply to both housing loan borrower and spouse/co-borrower.
Requirements
For Salaried Individuals
- Completely filled out the application form
- Photocopy of one (1) valid ID of the principal borrower and co-borrower
- Photocopy of Marriage Contract (if applicable)
- Photocopy of Certificate of Employment
- Photocopy of latest Income Tax Return / BIR Form 2316
- Photocopy of TCT / CCT
- Photocopy of lot plan/vicinity plan/subdivision plan
- Photocopy of updated Tax Declaration, Real Estate Tax Receipts and Tax Clearance
- Signed Authorization Letter
- Payment of appraisal fee
- Latest Statement of Account of creditor banks (for refinancing / take-out purpose)
- For construction loan:
- Building Plan
- Bill of materials (estimates of construction and labor costs)
- Building specification and/or scope of work
Notes:
Other documents and/or information may be required upon processing the application for approval.
An appraisal fee shall be required to be paid by the mortgage loan applicant prior to the processing of the loan application.
Acquisition of properties under accredited developers of the Bank does not require payment of an appraisal fee.
For approved mortgage loan applications, attendant fees and charges such as but not limited to registration fees, notarial fees, DST, and MRI, among others, shall be for the account of the borrower.
All applicable bank fees and charges should be paid directly to any of the branches of CTBC Bank.
For Self-Employed
- Completely filled out the application form
- Photocopy of one (1) valid ID of the principal borrower and co-borrower
- Photocopy of Marriage Contract (if applicable)
- Photocopy of Business Registration papers (i.e. SEC Registration / Articles of Incorporation / By-Laws / GIS or DTI certificates)
- Photocopy of the latest six (6) months bank statement
- Photocopy of the latest three (3) years of ITR
- Photocopy of the latest three (3) years of Audited Financial Statements
- List of major trade suppliers and customers with contact person and landline numbers (3 of each)
- Photocopy of TCT / CCT
- Photocopy of lot plan/vicinity plan/subdivision plan
- Photocopy of updated Tax Declaration, Real Estate Tax Receipts and Tax Clearance
- Signed Authorization Letter
- Payment of appraisal fee
- Latest Statement of Account of creditor banks (for refinancing / take-out purpose)
- For construction loan:
- Building Plan
- Bill of materials (estimates of construction and labor costs)
- Building specification and/or scope of work
Notes:
Other documents and/or information may be required upon processing the application for approval.
An appraisal fee shall be required to be paid by the mortgage loan applicant prior to the processing of the loan application.
Acquisition of properties under accredited developers of the Bank does not require payment of an appraisal fee.
For approved mortgage loan applications, attendant fees, and charges such as but not limited to registration fees, notarial fees, DST, and MRI, among others, shall be for the account of the borrower.
All applicable bank fees and charges should be paid directly to any of the branches of CTBC Bank.
For Professionals
- Completely filled out the application form
- Photocopy of one (1) valid ID of the principal borrower and co-borrower
- Photocopy of Marriage Contract (if applicable)
- Photocopy of Certificate of Employment (if applicable)
- Photocopy of latest Income Tax Return / BIR Form 2316
- Photocopy of the latest six (6) months bank statement
- Photocopy of TCT / CCT
- Photocopy of lot plan/vicinity plan/subdivision plan
- Photocopy of updated Tax Declaration, Real Estate Tax Receipts and Tax Clearance
- Signed Authorization Letter
- Payment of appraisal fee
- Latest Statement of Account of creditor banks (for refinancing / take-out purpose)
- For construction loan:
- Building Plan
- Bill of materials (estimates of construction and labor costs)
- Building specification and/or scope of work
Notes:
Other documents and/or information may be required upon processing the application for approval.
An appraisal fee shall be required to be paid by the mortgage loan applicant prior to the processing of the loan application.
Acquisition of properties under accredited developers of the Bank does not require payment of an appraisal fee.
For approved mortgage loan applications, attendant fees and charges such as but not limited to registration fees, notarial fees, DST, and MRI, among others, shall be for the account of the borrower.
All applicable bank fees and charges should be paid directly to any of the branches of CTBC Bank.
For Overseas Filipino Workers (OFWs)
- Completely filled out the application form
- Photocopy of one (1) valid ID of the principal borrower and co-borrower
- Photocopy of Marriage Contract (if applicable)
- Photocopy of Certificate of Employment (land-based / Contract of Employment for sea-based)
- Latest one (1) month’s payslip
- Photocopy of valid passport with entry/exit stamp
- Photocopy of the latest three (3) months’ proof of remittance
- Notarized / Consularized Special-Power-of-Attorney (SPA)
- Photocopy of two (2) valid IDs of the Attorney-in-Fact
- Photocopy of TCT / CCT
- Photocopy of lot plan/vicinity plan/subdivision plan
- Photocopy of updated Tax Declaration, Real Estate Tax Receipts and Tax Clearance
- Signed Authorization Letter
- Payment of appraisal fee
- Latest Statement of Account of creditor banks (for refinancing / take-out purpose)
- For construction loan:
- Building Plan
- Bill of materials (estimates of construction and labor costs)
- Building specification and/or scope of work
Notes:
Other documents and/or information may be required upon processing the application for approval.
An appraisal fee shall be required to be paid by the mortgage loan application prior to the processing of the loan application.
Acquisition of properties under accredited developers of the Bank does not require payment of an appraisal fee.
For approved mortgage loan applications, attendant fees and charges such as but not limited to registration fees, notarial fees, DST, and MRI, among others, shall be for the account of the borrower.
All applicable bank fees and charges should be paid directly to any of the branches of CTBC Bank.
How to Apply for a CTBC Bank Housing Loan
Here are the easy steps to apply for a CTBC Bank housing loan:
- Fill out and sign the application form
- Submit all the requirements online (email) or at the nearest CTBC Bank branch.
- Wait for the processing and approval of your application
CTBC Bank Salary Loan
The CTBC Bank Salary Stretch Loan is a short-term or mid-term multi-purpose unsecured loan for salaried and self-employed individuals. Post-Dated Checks are used to repay loans under this program (PDCs).
Where to Use a CTBC Bank Salary Stretch Loan
The CTBC Bank Salary Stretch Loan is multipurpose, which means you can use it in a variety of ways. Your loan funds can be used for the following purposes:
- Emergencies
If someone in your family is hospitalized, you can use the money from this loan to cover hospital bills, medications, and medical equipment.
- Your Dream Business
Have you ever wanted to open an internet bakery or a small corner store in your village? You can make it happen with this loan!
- Your Child’s Education
You can also utilize the loan proceeds to pay your children’s tuition on time, avoiding the need to issue promissory notes. Similarly, you can use it to purchase notebooks, books, and even toys for your children.
- For Your Hobbies and Passions
Are you a fitness enthusiast who wants to set up a home gym? Do you enjoy painting and wish to take classes online? Apply for a CTBC Bank Salary Stretch Loan to make your dreams come true.
- A New Device
If you want to get the latest smartphone but lack the necessary finances, the CTBC Bank Salary Stretch Loan can assist you. It will also assist you in funding your new laptop for freelancing!
Why Get a CTBC Bank Salary Stretch Loan
First and foremost, the CTBC Bank Salary Stretch Loan is an unsecured loan, which means you are not required to relinquish an asset in exchange for cash.
Second, CTBC Bank provides a large loan amount; you can borrow up to PHP 1 million! However, keep in mind that a large loan amount is subject to certification by the bank.
When it comes to repayment conditions, the bank is accommodating. Payments can be made over a period of 12, 18, 24, or 36 months. Keep in mind that monthly amortization is paid with post-dated checks (PDCs).
Features
- Loan amount: PHP 10,000 to PHP 1 million
- Annual contractual rate/Effective interest rate: 33% to 37.54% depending on the term of the loan
- Monthly interest rate: 39% to 1.79% across all loan terms
- Loan terms: 12 to 36 months
- Loan processing time: 3 to 5 days
- Processing fee: PHP 2,000
Eligibility
For Salaried Individuals
- Must be between 23 and 65 years old* upon loan maturity
- With a minimum gross monthly income of PhP15,000. for Metro Manila-based applicants or PhP10,000. for provincial-based applicants within the Bank’s serviceable area
- Must have at least six (6) months of work tenure with the current employer or a total of two (2) years of working experience, including work on a regular/permanent status
- With office landline
- Must be a Filipino citizen
Note: Qualifications may vary subject to the Bank’s terms and policies.
*61 to 65 years old upon loan maturity may be allowed if verified with the employer that the retirement age is 65 years old. Borrowers who are more than 60 years old upon loan maturity must also submit a photocopy of a Credit Life Insurance.
For Salaried Individuals in the Call Center industry
- Must be between 25 and 65 years old* upon loan maturity
- With a minimum gross monthly income of PhP25,000 and working within the Bank’s serviceable area
- Must have at least three (3) consecutive years in call center industry on a regular/permanent status
- With office landline
- A Filipino citizen
*61 to 65 years old upon loan maturity may be allowed if verified with an employer that the retirement age is 65 years old. Borrowers who are more than 60 years old upon loan maturity must also submit a photocopy of a Credit Life Insurance.
For Self-Employed Individuals
- Must be between 25 and 65 years old upon loan maturity
- With a minimum gross monthly income of PhP15,000. for Metro Manila-based applicants or PhP10,000. for provincial-based applicants within the Bank’s serviceable area
- Have a business registered in the existence of operation for at least three (3) years for Service Industries or five (5) years for Trading and other industries
- With office and home landline and/or mobile number
- Must be a credit cardholder
- Must be a Filipino citizen
For Employed Doctors
- Must be between 25 and 65* years old upon loan maturity
- With a minimum gross monthly income of PhP25,000.00 and working within the Bank’s serviceable area
- Employed with the current employer for at least two (2) years on a regular/permanent status
- Have a hospital landline and residence landline or mobile number
- A Filipino citizen
*If verified retirement age of the company is 65 years old, otherwise 60 years old. Borrowers more than 60 years old (but not more than 65 years old) upon loan maturity must submit a Credit Life Insurance.
For Self-Employed Doctors or Consultants
- Must be between 25 and 65 years old upon loan maturity
- With a minimum gross monthly income of PhP25,000.00 and working within the Bank’s serviceable area
- Must be a registered doctor/dentist for at least three (3) years based on Professional Regulatory Commission (PRC) ID
- Have a clinic and residence landline or mobile number (for clinic-based doctors/dentists)
- Must have a residence landline and mobile number (for consultants)
- A Filipino citizen
Requirements:
For Salaried Individuals (including those in the Call Center industry)
Completely filled out the application form
Photocopy of ID issued by the employer (with photo and signature)
Photocopy of latest ITR / BIR Form 2316 (optional)
Photocopy of one (1) month latest payslip
Photocopy of Proof of Billing under the current address
Photocopy of one (1) valid government-issued ID (with photo and signature)
Notes:
Original copies of the documents will be required prior to loan release. Moreover, documents other than those mentioned above may also be required to be submitted.
No separate loan processing fee, and/or other fees, will be collected by the Bank, its employees, or any of its representatives upon application, but a handling fee will be charged against the borrower to be automatically deducted from the loan proceeds.
For Self-Employed Individuals
- Completely filled out the application form
- Photocopy of two (2) government-issued IDs (with photo and signature)
- Photocopy of unexpired Certificate of Registration from the Department of Trade and Industry (DTI)
- Any of the following Proof of Income:
- Bank Certificate* of at least six (6) months ADB
- Latest six (6) months bank statements
- Audited Financial Statements
- BIR Form 1701 / 1702
- Photocopy of the latest two (2) months’ credit card statements
- Photocopy of Proof of Billing under the current address
*Bank Certificate must indicate the following information: (1) ADB for the last 6 months (reflects month 1 to 6 or ending month); (2) Account Name; (3) Account Number; (4) Average Daily Balance in Philippine Peso or other currencies; (5) Authorized signatory or issued by the Service Head of Branch Head with contact number; (6) Validity of the Bank Certificate is within sixty (60) calendar days.
Notes:
Original copies of the documents will be required prior to loan release. Moreover, documents other than those mentioned above may also be required to be submitted.
No separate loan processing fee, and/or other fees, will be collected by the Bank, its employees, or any of its representatives upon application, but a handling fee will be charged against the borrower to be automatically deducted from the loan proceeds.
For Employed Doctors
Completely filled out the application form
Photocopy of company/hospital ID
Photocopy of Professional Regulation Commission (PRC) ID or Proof of Renewal
Photocopy of the latest one (1) month payslip
Photocopy of Credit Card / Bank Clearance or Certification (if applicable)
Photocopy of Proof of Billing under the current address
Photocopy of one (1) valid government-issued ID (with photo and signature)
Notes:
Original copies of the documents will be required prior to loan release. Moreover, documents other than those mentioned above may also be required to be submitted.
No separate loan processing fee, and/or other fees, will be collected by the Bank, its employees, or any of its representatives upon application, but a handling fee will be charged against the borrower to be automatically deducted from the loan proceeds.
For Self-Employed Doctors or Consultants
Completely filled out the application form
Photocopy of company/hospital ID
Photocopy of Professional Regulation Commission (PRC) ID or Proof of Renewal
Photocopy of the latest three (3) months’ bank statements
Photocopy of Credit Card / Bank Clearance or Certification (if applicable)
Photocopy of Proof of Billing under the current address
Notes:
Original copies of the documents will be required prior to loan release. Moreover, documents other than those mentioned above may also be required to be submitted.
No separate loan processing fee, and/or other fees, will be collected by the Bank, its employees, or any of its representatives upon application, but a handling fee will be charged against the borrower to be automatically deducted from the loan proceeds.
How to Apply for a CTBC Salary Stretch Loan
Here are the easy steps to apply for a CTBC Bank housing loan:
- Fill out and sign the application form
- Submit all the requirements online (email) or at the nearest CTBC Bank branch.
- Wait for the processing and approval of your application
CTBC Bank SME Business Loan Program
The Small and Medium Enterprise (SME) Business Loan is a secured credit facility that meets the needs of entrepreneurs and business owners for business finance. The program offers both short-term loans and revolving credit lines, as well as term loans.
Features
Facility:
Short Term Loan (Revolving Credit Line) – a 30 to 360-days revolving credit line ideal for business operating and working capital requirements
Term Loan – a credit facility paid in monthly amortizations for a period of up to 10 years to address the long term financing needs of businesses
Purpose:
- Store / Office Expansion / Improvements
- Acquisition
- Working Capital
- Refinancing of existing credit facilities
Loan Amount:
- Minimum: PhP500,000
- Maximum: PhP70,000,000
Processing Time: 21 banking days
Term:
Term Loan:
- Minimum: One (1) year
- Maximum: Ten (10) years
- Short Term Loan: 30, 60, 90, 120, 180, or 360 days
Interest Rate: Prevailing SME Business Loan rate at time of availment
Interest Rate Repricing:
- Term Loan: 1, 2, 3, 4 and 5 years
- Short Term Loan: 30, 60, 90, 120, 180, or 360 days
Collateral:
Real Estate properties (vacant lot, house and lot, condominium, commercial building, industrial)
Eligibility
Corporations, Partnerships, or Sole Proprietorship:
- Must be a Filipino-owned company
- Gross monthly income of PhP50,000
- With a business operating for at least three (3) years
- Must have a landline number
Requirements
- Duly filled-out and signed application form
- Payment of appraisal fee
- List of major customers and suppliers with contact details
- Photocopy of two (2) valid IDs of each authorized signatory
- Business registration papers issued by the Department of Trade and Industry (for sole proprietors)
- SEC Registration Certificate, Articles of Incorporation, By-Laws and latest General Information Sheet (GIS) (for corporations)
- Latest six (6) months bank statement
- Audited Financial Statements for the last three (3) years
- Income Tax Return for the last three (3) years
- Photocopy of TCT / CCT
- Photocopy of lot plan/vicinity plan/subdivision plan
- Photocopy of Tax Declaration
How to Apply for a CTBC Bank SME Business Loan
Here are the easy steps to apply for a CTBC Bank Auto loan:
- Fill out and sign the application form
- Submit all the requirements online (email) or at the nearest CTBC Bank branch.
- Wait for the processing and approval of your application
Tips when Applying for a CTBC Bank OFW Loan
1. Visit the bank first with all your questions or concerns so that you can make a decision quickly.
If you write down the difficulties and issues you want to discuss with the bank agent, you will find it easier to get through this procedure.
2. Before applying, use the bank’s loan calculator.
You can determine your monthly installments by viewing a graphical representation of what those payments will be if you use the loan calculator tool, which is available to all bank customers.
3. Preparation is required before applying for a loan.
Make sure you understand that it is better to borrow only the amount of money you need rather than the amount you want to spend your money on.
4. Make sure you have the necessary documents before interacting with a bank.
This will simplify the approach and allow you to devote more time to the chores that must be performed in the next days and weeks.
Before agreeing to a car loan, it is in your best interest to take your time and thoroughly investigate your options.
Summary
The application process for a CTBC Bank OFW Loan has been streamlined, making it quick and easy to complete. You will be able to save both time and money as a result of this breakthrough.
Finding an appropriate loan and meeting its requirements can take a large amount of time and be a difficult task to do effectively. The great majority of people have no idea where to turn for answers.
Regardless, it is critical that you acquire a loan that is appropriate not just for your needs but also for the situation in which you find yourself. Fortunately, the CTBC Bank OFW Loan could be one of your finest options.
Customers of this financial institution have a variety of alternatives for deciding how to use their personal loans, depending on the terms of the loans they have taken out. They could help you get through the day and achieve the goals you’ve set for yourself.
A CTBC Bank OFW Loan could be used to finance the purchase of real estate or the formation of a business in the future. Applying for this type of loan is a simple process that won’t take up much of your time and isn’t necessary if you can meet all of your other responsibilities.
When it comes to the many types of loans and the amounts that can be borrowed, financial organizations such as banks and other financial firms provide a great deal of flexibility. This includes a wide range of loan amount options. After reading this article, you may discover that the loan products or services indicated below pique your interest. Learn more about these loans by clicking here.
Contact Information
CTBC BANK (PHILIPPINES) CORP. Head Office
Address: 16th to 19th Floors, Fort Legend Towers, 31st Street corner 3rd Avenue, Bonifacio Global City, Taguig City 1634
Trunkline: (02) 7717-5287 / 8988-9287
Office Hours: 8:30AM – 5:30PM
Email: customercare@ctbcbank.com.ph
Google Map Location: