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How to Apply Seaman Loan in the Philippines

Key takeaways:

  • A special loan for seamans is needed to keep Filipino seamans out of the debt trap and increase their productivity.
  • Seamans can get a loan through one of the government programs or go to a bank.
  • Digido does not offer a loan exclusively to seamans.
  • But a family member of a seafarer who is employed or self-employed can apply for a loan.

Loan Details

Loanable amount ₱ 1 000 - ₱ 25 000
Interest rate 3.5 %
Term 2/3 of Contract Period
Processing time 24 - 48 hours
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Seafaring is one of the top jobs in the Philippines. (1) These are migrant Filipino workers who board international ships for cargo and oil. They earn a lot of money, which they send to their families back home. Despite their salaries, they sometimes come to a situation where they can borrow money. And this is where a seamen loan with low interest comes in handy. 

Today, we will talk about what a Seafarers Loan is, how to take it, and where you can get the best deals.

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
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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.

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What is a Seafarer Loan?

This loan is reserved specifically for people employed in the shipping industry. Philippine seafarers include the following:

  • Captains
  • Cooks
  • Cleaners
  • Engineers

In the Philippines, seafarers are still considered OFW or Overseas Filipino Workers. A credit can only be granted to them if they can provide documents proving that they are seafarers indeed. This personal loan is not a typical. You can only secure this loan if you use it as additional funds for your family or if you need it to board a ship. You cannot use it to pay for a car or a housing loan.

→ Also learn how to borrow money for students

Can I Take a Seaman’s loan with low interest at Digido?

Right now, Digido does not offer seamen loans. The system of this company is built currently for emergency and personal loans.

However, there is a workaround for this. Your family member, who is employed or self-employed, can apply. What they need to do is to go to the company’s website, and then apply for a personal loan as usual. The application is easy, and all it takes is to scan documents and attach them to the your application. If the applicant qualifies, the credit can be approved in as fast as 24 hours.

Apply now

Here are the advantages of Digido:

1. Automated and online – does not go to a physical location; just submit your documents online. You will also get your funds in your bank account via fund transfer.

2. 90% Approval – Digido has a high approval rate because they have a good background check process. If you qualify, you do not need to go through interviews. You will also get approved in as fast as 24 hours.

3. No collateral – this is the best part of the service. The company is not going to ask you to use collateral such as your car, your house or lot.

Digido offers between ₱1,000 and ₱25,000. The personal loan amount varies depending on your status. If it is your first applying, you will get a small maximum loanable amount.

If you are a good borrower, which means you are paying your loans on time, you will be able to borrow more money from Digido.

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

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Advantages of a Loan for Seamans with no Collateral

Here are the advantages of a Seamen’s Loan:

  1. Easy to get approved – you are backed up by the fact that you have an employer. Your contract is proof of how much money you earn and this makes it easy or financial institutions to give you a personal loan, knowing that you have a secured job.  
  2. Low interest rates – since seafaring people bring US dollars to the country, and since they are considered as OFW, they can take OFW loan in the Philippines and enjoy low interest rates. They have special treatment because OFW is the top industry in the country.
  3. Big amount –  individuals can get up to half a million pesos on a Seamen loan 1 day release in Manila. This value depends on which financial institution you choose.

As a seafarer, the country owes its economy to you. You have several advantages that you can enjoy as a seamen, but you think carefully how much you really need so as not to bury yourself in debt.


  • Where can I get a seaman loan?
    Look at the offer of major banks, such as BPI, GDFI. Also look at government loan programs.
  • Who are Philippine seafarers?
    Seafarers refer to Filipino workers who work at sea and engage in international trade. They are often absent for 6 to 9 months. During this time, they and their families may need financial assistance.
  • Are loans for seafarers legal?
    Yes, many companies in the Philippines issue loans legally and have a registration number in the government registry.

Seaman’s Loan Online Application

The procedures for applying for a seafarer personal loan in the Philippines vary depending on the policies and requirements of the lending company. We will give you an average seafarers loan procedure for your application.

Step #1 – Apply for the loan. To do this, come in person to a bank or lending company branch or fill out an application online.
Step #2 – Fill out complete information in the your application form as instructed. Only disclose correct, accurate and complete information.
Step #3 – Provide all required documents. Don’t forget the seaman’s contract.
Step #4 – Choose the term and amount and find out the interest rate per month.
Step #5 – Wait for approval and sign the contract.

Quick approval depends mostly on whether the seafarer has his or her own checking account, real estate. Applicants should make sure they have a complete list of document requirements.

How to apply seaman loan in the Philippines?

Here are the places where you can get a credit as a seafarer:

  1. Banks – all banks have this personal loan for seaman no collateral. (2) The interest rates per month vary, but banks also charge a bigger interest rate rate compared to others. Some banks will even ask for as much as 20% interest rate per year.
  2. Private Lending companies – these are financial institutions, but they are not banks. They can either be cooperative or private corporations that offer all types of personal loans. These companies may charge higher interest rates per month than banks, but they also offer fast approval rates. Many private lending companies also ask for collateral.
  3. Online lending companies – these are also private institutions, but the entire process of applying is automated. You can apply no matter where you are located in the country. These institutions offer the smallest  amount, and they also have the fastest turn-around time for approval.

Choose the best financial institution based on how much you want to seafarer loan. If you need only a small amount of money, and if you want it quickly, your best option is to apply for a personal loan online.

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Comparison of seafarer loans from top Philippine banks

Bank Amount and Terms Requirements Documents
BDO Up to 1,000,000 PHP for up to 6-36 months Requirements for BDO Seafarer loan

  1. Applicant must be a Filipino citizen 25-65 years old
  2. Must have at least 3 years continuous employment contract
  3. Must have at least 1 landline phone at either residence or employment/business
  4. Gross monthly income must be at least P20,000
  5. With good credit standing
– Photocopy of the latest Income Tax Return duly stamped as received by the Bureau of Internal Revenue (BIR) or BIR Form 2316
– Latest full-month’s payslip or Original Certificate of Employment indicating status, service tenure and compensation breakdown
– Photocopy of at least two (2) valid photo-bearing identification documents, front and back, issued and signed by an official authority
BPI Up to 300,000 PHP for up to 9 months Requirements for BPI  Seafarers loan

  1. Applicant must be a Filipino citizen 21-60 years old
  2. Working or residing within 30 kilometers from the nearest BPI branch
1. One (1) Government-issued photo-bearing IDs
2. Proof of income documents:
– Latest and unexpired signed POEA contract; OR
– Employment contract with boarding date
For Direct Hire
– Latest 3 months Proof of remittance
– Latest and Unexpired POEA Validated Information Sheet; OR
– Latest POEA Overseas Employment Certificate (OEC) AND latest Employment Contract
  (In lieu of OEC print-out: OEC Exemption Screenshot with OEC BM Online Profile); OR
– Consularized COE (If remitter is permanent resident in the country)
AUB Up to 500,000 PHP for up to 10 months Requirements for AUB  Seafarers loan

1. Applicant must be a Filipino citizen 21-60 years old
2. At least one employment contract at the time of loan application
3. Must open an account with AUB
4. Minimum gross salary of USD $800


– Completely filled out and signed Application Form
– Photocopy of Employment Contract with POEA stamp
– Photocopy of Passport and Seaman’s Book
– Photocopy of Seafarers Registration Certificate (SRC) or Worker’s Information Sheet (WIS)
– Allotment Arrangement certified by the company
– Plane ticket or Certificate of Departure issued by manning agency
– Authority to deduct from AUB account

Read how to get cash in 1 hour in the Philippines

Seaman Loan Requirements

If you apply a personal loan for Seafarer, you need to provide the following documents:

1. Contract with POEA Stamp (3)

2. 2 Government IDs

3. Seaman’s book

These documents are proof that you are a seafarer. If you are just applying for a job, you only have to present your contract from your employer or recruitment agency. In some cases, financial institutions can also ask for more documents, such as your passport and birth certificate.

If you are looking for a seafarer loan without contract this could be a problem. Almost all companies require this document, because it confirms the employment of the borrower and that he really is a seafarer.

Apply now

Articles Sources

  1. Filipino seamen…
  2. List of banks in the Philippines…
  3. POEA – Philippine Overseas Employment Administration

Digido Reviews

  • Shariffa
    Very nice and friendly Customer Service. I borrowed 2x already and i never had a hard time. Just always remember to pay on time.
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    One of the best Loan App, reliable, quick cash disbursement and they also give you alternative plan option to settle your debt, so far I'm satisfied with it 😊👍
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    It was a very good transaction, fast disbursement and no interest for first time loan. Thank you Digido!
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    The app is efficient and user-friendly. It generates results in just a few minutes. Not only the system is laudable ,the staff and its workers are polite ,respectful and courteous. They really know how to treat their clients well and find ways how to ease the situation that this pandemic brings. Congratulations to this company! You deserve a five star commendation!
  • Gee
    Easy and fast loan application with low processing fee. A great help for emergency financial needs.
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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.