How to Apply for a PBCom OFW Loan

Overseas Filipino workers (OFWs) may not always have the resources in the form of marketable assets or investment opportunities. Sometimes, they also come in the form of loans, such as the PBCom OFW loan, which they can take advantage of from time to time. This is nothing to be ashamed of despite the connotation that loans have been associated with, especially if you or your family could most definitely use the budget – for whatever purposes.

Also Read: How to Apply for RCBC OFW Loan

A budget is essential if you want to minimize the impact of unexpected expenditures on your life. Aside from tuition and medical costs, other factors such as the cost of living can have an impact on your financial condition. Living in a foreign country can be quite costly, especially if it is your first time living overseas. You can, on the other hand, receive an additional budget by requesting an OFW loan from PBCom, which will be useful in both the short and long term. Here’s how to go about it.

How to Apply for a PBCom OFW Loan

Applying for a PBCom OFW Loan

Unexpected expenses, such as car repairs and hospitalization, can be covered by a personal loan, which can be utilized by anybody, including overseas Filipino workers, to pay for these costs. A loan can be obtained in two ways: with collateral (secured) or without (unsecured).

Secured loans are those that are backed up by collateral. Despite having the same terms and circumstances, the interest rates for secured loans are frequently higher than those on unsecured loans.

PBCom personal loans can be used to pay for a variety of obligations, including credit card payments and medical expenses, depending on the loan’s terms.

PBCom Personal Loans

At PBCom, many types of loans are accessible under the personal category. Personal loans, auto loans, and home loans are examples of these. These loans can assist you in purchasing a car or a home.

If you need a loan for various purposes, the Personal Cash Loan is a smart choice. This loan can be utilized in a number of ways.

Why Get a Loan from PBCom

  • Borrow money up to Php 1 million.
  • Receive approval within three banking days.
  • Pay in installments of 12, 18, 24, or 36 months.
  • At a 1.68 percent interest rate, PBCom’s loan offers a competitive option.
  • This loan is ideal for college planning, weddings, and trips.

How OFWs Can Apply for PBCOM Personal Loan

For those interested in a personal loan from PBCOM, you should visit your local bank to complete the application process. Alternatively, you can contact customer service at 777-2266 to talk with a member of the team.

1. Fill out the Personal Loan Application Form and click Submit.

2. Wait for an email confirmation to be sent to your nominated email.

3. Expect a call from the Contact Center within three (3) days from the day of submission.

Other products PBCOM offers

Aside from personal loans, PBCOM provides a wide range of banking products and services, including:

Deposits. In order to attain your savings objectives, you may require several types of bank accounts depending on your requirements and stage of life. Various savings accounts (including Peso, USD, and Euro saves), time deposits, and checking accounts are available to choose from.

Debit Cards. Despite the fact that PBCOM does not issue credit cards, you may enroll in the EMV debit card program to take advantage of more flexibility and unique discounts.

Housing Loans. You can utilize the loan for a variety of real estate-related objectives, including the purchase of a home, the construction of a home, renovations, and refinancing.

Investments and wealth management. PBCOM offers a wide range of trust and treasury products that can assist you in the development of your investment portfolio.

Business Banking. There are a variety of corporate banking goods and services available, including business loans, cash management, and other trade-related products and services.

Types of PBCOM Loans

PBCOM provides two types of loans: home loans and car loans. The most prevalent loan type issued is a home loan. This is for repayment, whereas the latter is for the purchase of a new vehicle.

We’ll go over each loan category’s features, requirements, the application process, and benefits in the sections below.

PBCOM Home Loan

OFWs take out loans for a variety of reasons, one of which is to make long-term investments in their enterprises, which is a common cause for borrowing. Having said that, there is no better way to accomplish this than by purchasing a home of one’s own. When it comes to home loans, PBCOM’s Home Loan Program is a great option.

OFWs can benefit from this form of loan in a variety of ways, some of which are as follows:

  • Buy a lot, house & lot, condominium unit, or townhouse
  • Take out an existing home loan
  • Construct your house
  • Renovate your home
  • Reimburse/Refinance house expenses

Why Take Out a Home Loan with PBCOM

PBCOM offers a difficult-to-pass home loan program that includes the following features:

  • Loan Amount: Php 500,000 (minimum) to Php 20,000,000 (maximum; depending on loan purpose)
  • Payment Terms: Up to 20 years (depending on loan purpose)
  • Fast Loan Approval
  • Flexible payment terms
  • Personalized Service
  • Lots of Special Deals


  • 21 to 65 years old (applicant must not be more than 65 years old upon loan maturity)
  • Filipino citizen, foreign-based Filipino, or foreign citizen residing in the Philippines
  • Salaried or self-employed individuals
  • With a minimum gross monthly family income of Php 50,000

Requirements for a PBCOM Home Loan:

Before you start working with PBCOM, you will need to provide the bank with some supporting documents. These documents will help them process your application.

  1. Payment ledger/Purchase Information Sheet/Contract to Sell
  2. Completely filled-out application form
  3. Two valid IDs of borrower & co-maker / Attorney-in-fact
  4. Marriage contract (if applicable)
  5. Income documents

Employed (Local)

  • Certificate of employment payslips/Income Tax Return

Employed (OFW)

  • Certificate of employment / payslips / Latest proof of remittances
  • Self-Employed
  • Trade References – please ensure the business name is provided
  • Latest 3 months Bank Statement
  • Latest Income Tax Return w/ Audited Financial Statements

How to Apply for PBCOM Home Loan

Interested clients may apply at a PBCOM branch location and perform the following:

  1. Fill out the Application Form after downloading it.
  2. Prepare the necessary documents and travel to the branch of your choice.
  3. Submit the application form, as well as any other required documentation.

PBCOM Auto Loan

Aside from a home, the purchase of an automobile is one of the most practical and substantial purchases a person can make in his or her lifetime. It not only makes your trip more convenient and enjoyable, but it also provides you with a variety of additional benefits as a result of the arrangement.

It is feasible to depart and arrive on time in a car while simultaneously protecting yourself and your family from potential danger. Accidents and other occurrences can be avoided if a vehicle is fitted with a safety feature. It is feasible to depart and arrive on time in a car while simultaneously protecting yourself and your family from potential danger. Accidents and other occurrences can be avoided if a vehicle is fitted with a safety feature.

Despite the fact that purchasing a car is typically an expensive endeavor, there are various options for doing so without breaking the bank.

In addition to the following characteristics, PBCOM offers a home loan package that is difficult to qualify for and includes the following features:

Why Take Out an Auto Loan with PBCOM

With a PBCOM car loan, you may simply purchase a vehicle that is suitable for your needs and financial situation. It comes with flexible payment plans as well as a one-year automobile insurance policy.

You can use this car loan for the:

  • Purchase of a brand new or second-hand car for personal use
  • Reimbursement of a brand-new vehicle
  • Refinancing of a second-hand car/loan take-out
  • Purchase of a brand-new car for business use such as:
  • Car Rental Services
  • Transport Services (e.g. Taxi, Grab, UV Express, School Service, Company Use / Employee Service)
  • Cargo (e.g. Trucks)

PBCOM offers a difficult-to-pass auto loan program that includes the following features:

Loan Amount:

  • Minimum: Php 200,000
  • Maximum: Php 10,000,000
  • Fast Loan Approval
  • Flexible payment terms
  • Personalized Service
  • Lots of Special Deals


  • 21 to 65 years old (applicant must not be more than 65 years old upon loan maturity)
  • Filipino citizen, foreign-based Filipino, or foreign citizen residing in the Philippines
  • Salaried or self-employed individuals
  • With a minimum gross monthly family income of Php 40,000 (for the acquisition of a brand new vehicle)
  • With a minimum gross monthly family income of Php 50,000 (for the acquisition of a second-hand/used vehicle)

Requirements for a PBCOM Auto Loan:

You will need to present supporting documents to PBCOM before you can begin working with them. They will be able to process your application faster if you provide them with these documents.

  • Filled out and signed application form
  • Certificate of Employment with Compensation
  • Any valid government-issued IDs with photo and signature
  • Employment Contract and/or Certificate of Employment
  • Proof of remittance for the last three (3) months
  • Filled out and signed application form
  • Certificate of Business Registration (photocopy)
  • List of at least 3 clients and/or suppliers with contact details
  • Latest ITR and Audited Financial Statements
  • Bank statements for the last three (3) months
  • Any valid government-issued IDs with photo and signature
  • Certificate of Registration and Official Receipt of the unit being purchased (photocopy)
  • LTO blue form stencil
  • Deed of Sale
  • PNP Clearance
  • Macro-etching

How to Apply for a PBCOM Auto Loan

  1. Scan or photograph your ID and proof of income.
  2. Apply online or at your nearest branch.
  3. Wait for processing and approval (which can take as little as one banking day!)

Video: Personal Salary Loan from PBCOM Bank

Check out this video clip below which features a guide about personal loan for Filipinos from PBcom Bank. The video tackles the requirements and process of applying for an OFW loan from the bank.

Frequently Asked Questions

1. What Is A Personal Loan?

A personal loan is a sort of loan that is often used to cover a variety of personal expenses such as medical bills. In contrast to a car loan or a home loan, it can be utilized for whatever purpose you like.

Unsecured personal loans are the most common sort of personal loan, however secured loans are also available. Secured loans require the borrower to put up some form of collateral, such as a home or car, as security for the loan. Unsecured loans, on the other hand, are those in which the borrower is not required to put up any form of collateral.

2. What Is A Housing Loan?

Unhappy with your current home? Consider taking out a housing loan, which may be used to finance your next home purchase in the Philippines. A variety of sources, including banks and the government’s housing fund, often known as the Pag-IBIG Fund, can help you get a loan for your home.

You will be better able to make an informed selection if you have a better understanding of the various terms and conditions of house finance. Refinancing is one of these options.

3. How Do Housing Loans In The Philippines Work?

When it comes to home loans in the Philippines, banking institutions are frequently used as a lending source. Borrowers can borrow money from a bank for a set length of time under the terms of a loan agreement.

A home loan can be classified as either public or private in the Philippines, depending on the lender. The former is given by the government-owned PAG-IBIG, while the latter is made available by a number of financial institutions in the country.

In general, banks charge lower interest rates on house loans than do PBComs, however, the rates charged by banks might vary based on the type of loan that the bank is giving.

Home loan borrowers in the Philippines are obligated to make monthly payments on their loans. This type of payment is typically used to cover the loan’s initial interest expenditures, but it can also be used to reduce the loan’s principal balance if necessary.

Depending on how much money the borrower has borrowed, the bank calculates the interest rate that it will charge him or her at the beginning of each month.

4. How Do I Use A Housing Loan Calculator?

Making informed decisions when it comes to mortgage payments and evaluating the various loan rates given by different financial institutions is made easier with the help of a loan calculator. Also included will be the maximum amount of time that you are permitted to take out on loan.

5. What are some Housing Loan Terms?


When it comes to loans, the principal refers to the total amount of money that you owe on the loan. Typically, when you make more regular payments, the amount of money you owe decreases over time.

Down payment:

Down payment is the amount of money that a buyer puts down to ensure that the property will be his or hers when acquiring a house. According to the Philippine Housing Finance Corporation, a down payment of twenty percent on a bank-sponsored home loan is the normal down payment for a home loan in the Philippines.

Interest Rate:

If we speak in financial terms, interest is a rate of return on money that is charged in exchange for its use. In this situation, the money is borrowed from a third party. Generally speaking, interest rates are expressed as a percentage rate on an annual basis, which is referred to as the annual percentage rate of return on investments (APR). In the case of a 10-year fixed loan from BPI, the annual percentage rate (APR) is 8 percent each year, compounded annually.

Loan Tenure/Term:

The term of a mortgage loan refers to the amount of time or time period, expressed in terms of “months” or “number of years,” during which you must repay your mortgage obligation. Mortgages are often written with a “tenure” of 30 years, which means that it will take 30 years to pay off the debt in full, as is customary in the industry.

According to lending legislation in the Philippines, a usual loan term is up to 20 years, with certain lenders allowing even longer loan terms to borrowers who meet certain criteria. It is generally understood that the interest rate on loan increases in direct proportion to the length of time the loan has been in effect.


Before the scheduled repayment date, you may be able to pay off your loan in full or in part, depending on your circumstances. Certain banking institutions may charge you a fee if you do this, so be sure to read the fine print carefully before proceeding.


There are several potential options for paying off an existing mortgage while simultaneously taking out a new mortgage with a lower interest rate than the one that was originally taken out.


Foreclosure is the process through which a bank takes possession of your property and attempts to sell it in order to reclaim the outstanding balance on your loan. When it comes to making loan payments on time, if you have a history of not doing so, you may find yourself in this predicament on a consistent basis.

6. Some Factors You Need To Be Aware Of When You Choose A Housing Loan

Margin of Finance:

Another word that is used to indicate the amount of money that is borrowed in relation to the value of the property is the loan-to-value ratio. A variety of criteria are taken into consideration when determining the amount of money that a client can borrow in the Philippines. These include the applicant’s age and income category, the type and location of the property, as well as the current market value of the property in issue.

The loan-to-value ratio, which refers to the amount of money borrowed in relation to the value of the property, is another word that is frequently used. When determining the amount of money that a client can borrow in the Philippines, banks take a variety of criteria into consideration, including the applicant’s age and income bracket, the type and location of the property, and the current market value of the property, among other things.

Early Termination Penalty:

You may be charged an early termination penalty if you pay off your mortgage in part or in full before the end of a certain time period, depending on your mortgage lender. A refinancing option could involve refinancing your debt with a different lending organization or refinancing your loan with your current lending institution.

You will be liable to a penalty for terminating your contract before the end of the predefined time period during which you have entered into your agreement. This cost, which fluctuates based on the length and size of your loan, can be rather substantial in some cases.

Fees and Charges:

There are a variety of fees and charges that you may anticipate experiencing, and some of them will change from bank to bank. However, here are some of the more frequent ones you can expect to encounter:

  • Appraisal fee
  • Documentary Stamp Tax (P1.00 for every P200 of the loan amount)
  • Handling and Notarial fees
  • Mortgage Redemption Insurance
  • Registration expenses

7. What Is A Car Loan?

The Philippines currently has a thriving automotive loan industry that is both popular and lucrative.

Making financial savings while also owning a vehicle without having to spend a significant amount of money on transportation is an excellent option that many individuals choose to pursue. A large number of people have turned to auto loans to help them finance the purchase of a vehicle as a result of the bad state of the country’s transportation infrastructure.

8. How Does A Car Loan Calculator Work?

It is possible to calculate your monthly payments for your auto loan quickly and easily by entering the information essential to get started, such as the cost of the vehicle and the amount of down payment you intend to make, along with the loan’s term and interest rate. The calculator will indicate the total amount of interest paid over the life of the loan, as well as the number of monthly installments, once you have completed all of the steps outlined above, including completing the loan application form.

9. Car Financing: Is It Better To Get A Loan?

It is possible to calculate your monthly payments for your auto loan quickly and easily by entering the information essential to get started, such as the cost of the automobile and the amount of down payment you intend to make, along with the loan’s length and interest rate.

Once you have completed all of the procedures outlined above, the calculator will calculate the total amount of interest that will be paid over the course of the loan, as well as the number of monthly payments required.

10. Are Used Cars For Sale Eligible For A Car Loan?

For used automobile financing, most banks in the Philippines will accept you if you have good credit and want to purchase an older vehicle. Additional alternatives for financing are available, including the usual financing options for used vehicles and the opportunity to prepay the insurance payment, which lowers the interest rate charged even further.

For those contemplating purchasing a used automobile, it is important to remember that the interest rate on a used automobile is significantly greater than the loan rate on a new automobile.

11. Why Are Interest Rates For A Used Car Higher Than Brand New Cars?

Due to the higher amount of risk associated with investing in second-hand autos compared to investing in new automobiles, second-hand vehicle loans are much more expensive than new car loans. As a result, they are more likely than other types of vehicles to experience technical difficulties and require expensive repairs, which could result in financial loss if the vehicle is repossessed.

The interest rates charged on new and used automobiles in the Philippines differ significantly, with the former being significantly higher than the latter in many cases. Depending on the conditions, a common gap between the two is between 2 percent and 5 percent, depending on the situation.


The process of selecting and qualifying for the most appropriate loan can be time-consuming and difficult. A large number of folks are unsure of where to begin. However, it is vitally critical that you obtain the most appropriate loan for your needs and circumstances. Good thing there’s the PBCom OFW Loan you can look into.

A significant commercial bank in the Philippines, the Philippine Bank of Communications, also known as PBCOM, offers a diverse range of financial services to its consumers through its network of more than 80 branches.

According to the information provided in the preceding sections, personal loans can be used to meet a wide range of personal expenses.

Home and automobile ownership are two of the most common expenditures that every overseas Filipino worker hopes to be able to afford. Both purchases can be financed through the loan packages offered by PBCom. If you meet all the requirements and meet the eligibility criteria, as well as being able to make on-time payments, applying for these loan products is straightforward.

It is possible that you will be interested in learning more about the many types of loans that are available from banks and other financial institutions after you have finished reading this guide; you can find out more about these loans by clicking here.

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