OFW loan for all Filipinos!

In this article you will learn all the most important information about the OFW loan in the Philippines. Who is eligible for a OFW loan, what requirements you need to meet, and how much you can get. Are you wondering if a OFW can get a loan from Digido? Digido does not offer an OFW loans. But a OFW family member with a steady income can apply for a Digido loan.

OFW Loan Online

Last updated: November 14, 2022

Written by: Sean Martin D. Plantado | Reviewed by: Rafael Hular

Key takeaways:

  • OFW loans are for Filipinos who work abroad.
  • OFWs can get a loan from a bank, loan company or OWWA fund.
  • Digido does not provide OFW loans. But OFW family members can borrow from Digido to overcome financial problems.

With their zealot approach to explore greener pastures, Filipinos have become one of the most prominent migrant communities across the world. The OFWs, Overseas Filipino Workers (1) of 2.4 Million include people of different capacities from housemaids to high profile professionals. (2) Their inward remittance of $ 34 Billion, nearly 11% of GDP, makes the Philippines one of the top countries that benefit from the remittance. (3)

A migrant Filipino treads a tightrope walk to ensure a smooth balance of his or her expenses and the ability to support the family in the homeland. Any unplanned financial requirements such as emergency medical expenses, tuition fees, or an unavoidable repair of your house can upset your economic equilibrium. 

The conventional loan conditions target local populations, making loan availability quite hard for an overseas employee. It forces an OFW to end up with loan sharks to tide over any financial emergencies. 

What does an OFW Loan mean?

OFW loans in the Philippines are tailor-made financial solutions for the Filipinos who work in a foreign country. They help the vast number of overseas Filipinos avoid loan sharks and achieve their financial goals through affordable loans with minimal documentation. 

The significant features of these loans are: 

– Comprehensiveness

The scope of the Overseas Filipino Workers loan (OFW loan) is quite extensive. You can have a personal loan to clear your credit card bills or can have a loan to purchase a house or get a loan to find capital for the business you plan to start after the return. The OFW loan in the Philippines is open both for active and about to join employees of a foreign country. It helps a foreign employment aspirant clear his or her recruiter fees, initial expenses, and flight tickets using OFW loans, much before the person starts earning. 

– Flexible Loan Conditions 

An OFW can make an online loan application while they are outside the country. Only a few loans demand the borrower’s physical verification. It eliminates the need for frequent travel and allows the applicant to enjoy his or her vacation by spending quality time with the loved ones.

The loan conditions, interest rate, and loan amount depend heavily on the borrower’s income and spending habits. It allows one with a low salary to get the right loan as long as he or she follows an excellent financial discipline. 

– Faster Loan Approval and Disbursal

The majority of the OFW loans are no co-maker, no collateral, or no credit check loans. It reduces processing time and makes the loan disbursal much faster. An authorized representative of the borrower can collect the loan amount with minimal formality, making OFW loan 1 day processing with no hassle a reality. 

I want to borrow ₱ 10000
Min: ₱ 1000
Max: ₱ 20000
Payment Terms 10 days
7 days
21 days
My Monthly Gross Income ₱ 20000
You return*: 10 000
All your data is under secure protection!
We recommend taking a loan!

* Interest payments are approximate. The final loan amount and interest rate must be confirmed in your loan agreement after loan approval.

Can I take an OFW Loan at Digido? 

Digido does not provide any exclusive OFW loans. But we help the OFW community by offering flexible, short-term loans that can be availed by their relatives to overcome financial hiccups.

A family member of an OFW with a stable income can take a personal loan up to PHP 25,000 with minimal formalities. Any Filipino citizen within the age group of 21-70 years of age with a working mobile connection and a valid government ID can apply for the loan. Digido possesses one of the largest and broadest networks of branches across the Philippines. Along with fully automated lending platforms, it enables anyone to apply for a loan from anywhere at any time with minimal formalities. 

These unsecured loans with 95% loan approval rate do not require any collateral or excellent credit history. Our daily interest rate is 1.5% only, and the repayment window is 30 days. Digido allows one to have a loan even without a bank account. We issue tokens for such people, and they can submit it at one of the cash points and get the money. New clients can now get their first loan at 0%.

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Why do you need a fast Digido loan?

You need money in a hurry, but you can’t save the right amount of money and create an emergency fund? Digido will come to your rescue!
That’s when an online loan for OFW will come in handy:

1. Medical Emergencies

Health problems always come at the wrong time, and it’s impossible to prepare for them. If you don’t have savings, you can cover medical expenses with a loan for medical treatment. For example, buy expensive medications or pay for  the treatmen.

2. Paying Bills

If you’re having temporary difficulties paying your bills, a personal loan can help. You can pay utility bills, Internet bills, and more. The main thing is not to do this every month!

3. Payment for Education

Not all families can provide their children with a decent education, because it takes a lot of money. There is a way out – an education loan. Your children will thank you!

4. Home improvements and renovation

Finance your quality of life! Make improvements, and renovate your home, because you can use a loan for OFW without collateral to do so.

All operations are performed online - you don't have to leave your house
In only 4 minutes you can receive up to 5000 pesos in your bank account
We don't require guarantors representation, documentation, or guarantee deposits.
The service is fully automated

→ All about fast loans without a bank account

Features and Types of fast OFW Easy Loans in the Philippines

Not all financial institutions offer OFW loan fast release with no hassle, limiting an OFW’s ability to secure loans from anywhere. But the loans are loaded with features so that an OFW can keep them in perfect alignment with his or her financial goals at different stages of the emigrant life. While most online OFW loans don’t require a co-borrower or collateral security, the loan amount, interest rates, loan conditions, and loan duration vary with each lender.

Some of the primary categories of OFW loans 1 day processing are:

OFW Personal Loan 

You can get a cash loan Philippines for OFW to manage your immediate financial requirements. These loans don’t require any collateral or good credit score. Your income and expenses play a crucial role in setting the limit for the loan amount. 

You can use the loan for any financial requirements such as small scale home renovation, fund a vacation or purchasing a new home appliance, etc.

OFW Auto Loans 

Owning a car is in the bucket list of most Filipinos, and car loans help them achieve it. The loan is secured and uses the car as collateral. The borrower has to repay the loan as EMIs. If the borrower defaults the payments, the lender can repossess the vehicle.

OFW Home Loans

For most Filipinos, the primary purpose of their expatriate life is to own a house. Even if they draw a handsome salary, accumulating the lump sum payment for house purchase is not easy. Home loans provide the necessary financial OFW loan assistance in the Philippines by considering the property as collateral. You will get the ownership of the house only after the complete repayment of the loan as EMIs. 

OFW Business Loans

No one intends to stay in a foreign country forever. But the financial obligations and a lack of proper revenue sources hold them back from returning to their homeland. OFW business loans allow any Filipino to get additional working capital to become an entrepreneur. Even while continuing to be an expatriate, one can secure OFW business loans to set up a business for his or her family members and start earning a second income. The scope of OFW business loans is quite extensive. Some lenders offer low interest OFW loans up to PHP 5 Million for an annual interest rate of 7.5% with a repayment window of up to 7 years. 

OFW Seaman Loans 

Seafaring is one of the prominent livelihoods of the Filipino population. They work as captains, cooks, cleaners, or engineers on international ships for cargo, oil, and cruise ships. Seaman OFW loans help seafarers tide over their financial difficulties, especially when to board the ship by allowing them to apply for OFW loan one day process from anywhere in the Philippines. 

Read 7-11 Payment Services Guide

Where Can an OFW Get a Loan? 

Banks, OFW lending company in the Philippines, and agencies for the welfare of non-resident Filipinos, such as the Overseas Workers Welfare Administration (OWWA), offer OFW loans to the migrants. (4)

Bank loans in the Philippines for OFW

Banks offer OFW lending with better loan conditions such as low-interest rates, high loan amounts, and extended repayment window. For example it is BDO OWF loan. Unfortunately, the distribution of banks is quite uneven throughout the Philippines. OFW bank loan requirements in the Philippines are difficult for many applicants. One may get an easy OFW  loan from a co maker in Manila through banks, but not in other areas. The stringent eligibility criteria, lengthy processing time, and low approval rates make an OFW hostile towards banks for their immediate financial requirements. 

Lending Companies for OFW loan in the Philippines

The private lenders with their flexible loan criteria, minimal documentation requirements, short processing time, and high loan approval rates, make an irresistible option for an OFW for their financial needs. The majority of the lending companies for legit OFW loans without co-borrower operate through online mode. They rarely use credit history to gauge the credit worthiness of a borrower. 

Similarly, their definitions of jobs are much broader than banks. If you have a regular income, the lenders will give you OFW quick cash loan online. Your additional income outside your employment, such as the sari-sari shop or rent, will also be considered while deciding the loan amount. You can easily choose the best loan app for OFW Philippines

OFW loan in OWWA

OWWA, in collaboration with various banks, offers affordable, feature-rich, and easily accessible loans for OFW abroad with minimal procedures.The OWWA loan  for OFW 2021 is offered to current OWWA members who are also certified as OFW. They must first obtain this certificate as they will submit it to the bank as part of the requirements.

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Who is Eligible to Apply for OFW Loans?

The loan eligibility varies with each company. But the essential eligibility criteria are the following: 

  1. The applicant should be a Filipino citizen;
  2. The minimum age for the borrower is 21 years;
  3. The age shouldn’t exceed 65 years upon loan maturity;
  4. The applicant should be working abroad with an active employment agreement;
  5. First time OFWs with no initial capital or funds can apply for the loan too;
  6. The applicant should have an immediate family member, spouse, parents, siblings, or children as co-borrower;
  7. The loan amount depends on your salary and expenses.

Some of the loans require a co-borrower, and the eligibility criteria for the co-borrower are given below: 

  1. The co-borrower should be a Filipino citizen within the age group of 21-59 years old;
  2. The co-borrower should be an immediate relative of the OFW;
  3. The co-borrower should have a regular source of income.
  4. OFW Loan Requirements 

The essential documents one has to submit for an OFW loan are the following:

  1. Proof of identity, employment, and compensation;
  2. At least, two valid IDs – OWWA ID, Seaman’s book;
  3. Consularized employment;
  4. Copy of visa;
  5. POEA Overseas Employment Certificate;
  6. Plane ticket;
  7. Proof of residency under the name of the borrower;
  8. Proof of remittance;
  9. For seafarers – the latest crew contract;
  10. Proof of billing.

The co-borrower eligibility requirement are the following: 

  1. Payslip for the last three months;
  2. Certificate of employment;
  3. If not employed – the copy of business permit like DTI (5);
  4. Two valid IDs and photos;
  5. Proof of billing and relationship with the borrower.


  • Where can I get a loan for OFW?
    Look at the offer of major banks, such as BDO, PsBank. Also look at government loan programs.
  • Can OFW apply for SSS loan?
    Yes, if the borrower meets several requirements, which are detailed on the SSS website.
  • How can I get Pag Ibig loan for OFW?
    Visit your nearest Pag - IBIG office for a loan consultation. Fill out the necessary loan application forms. Submit your requirements and wait for a response.

How Can a Filipino Employee Get a Loan Abroad?

The OFW online loan application and approval process are quite simple and straightforward. The majority of the banks or lenders accept applications through an online portal and offer OFW loan 1-day processing. The first step is the submission of the application. One can use the online or offline mode of application as per the availability. 

Once a duly filled application with the supportive documents is submitted, the lender will scrutinize it and decide within a few hours or days. Some categories of loans for OFW in the Philippines such as seafarer loans require your physical verification. In that case, you may need to present yourself before the lending agency. After the loan approval, the fund will reach you within a few hours. 

Apply now

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Articles Sources

  1. Overseas Filipino Worker  https://en.wikipedia.org/wiki/…
  2. Total Number of OFWs Estimated at 2.4 Million https://psa.gov.ph/content/…
  3. OFW remittances hit record high of $33.5 billion in 2019 https://www.rappler.com/business/…
  4. Overseas Workers Welfare Administration https://owwa.gov.ph/
  5. DTI Philippines https://www.dti.gov.ph/

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Written by: Sean Martin D. Plantado

Author pages:
Sean Martin Plantado is the head of Customer Care Dept. and Online Sales Dept. of Digido Finance Corp. creating articles, blogs, and other learning mediums that helps Filipinos struggling on their financial literacy. Sean also loves Cycling, Photography, Cinematography, Online gaming, Fine Arts, and dreams of becoming a Doctor of Veterinary Medicine.

Reviewed by: Rafael Hular

Author pages:
Rafael “Raffy” L. Hular is, the Finance and Accounting Manager. of Digido Finance Corp., monitoring and controlling the flow of cash that comes in and out of the company to meet the company’s business needs, preparing the financial reports and analysis of income and expenses, and monitoring tax compliance.  Raffy loves reading Japanese comics called manga and watching Japanese animated cartoon series. He dreams of establishing his own Accounting and Auditing Firm and teaching in a University.