AdminBeing far from your home and loved ones to get employment abroad is a challenging move to do. It would take lots of courage to help you get through and numerous homesick episodes to experience. Some people have left with no choice and are clinging in the hopes for a better life. Overseas Filipino Workers have immeasurable love and are selfless to secure their family’s needs.
However, Overseas Filipino Workers (OFWs) need to know that they cannot be employed and work abroad for good. They need to make a wise decision in handling their finances and look for opportunities to save and invest once they retire and go back home.
The expenses and living costs abroad can be too much for our modern-day heroes. Nevertheless, government agencies and some financial companies in the Philippines are there to provide a little help or ofw loans just in case you need financial assistance. Do not instantly think that having a loan is not a good thing as this can be an aid for your family long term. But the real deal is, you have to know where to seek and avail legitimate financial assistance in the Philippines.
If you are wondering how to start applying, let me help you out by giving you few ideas on what to look for. Below are some of the government institutions and banks in the Philippines you can safely apply for ofw loans from.
Home Development Mutual Fund (PAG-IBIG) Loan – offers low-cost housing loans to OFWs. You may qualify if you contributed for more than 24 months.
SSS Housing Loan – If you are an OFW who has contributed for at least 36 months’ worth.
Security Bank Auto Loan – This is an ofw loan being offered to those who have worked in a foreign land for two years or more.
Philippine Savings Bank OFW Loan – If you are working abroad for at least 2 years or more, you can surely apply for one. However, the borrower should be at least 21 years old and no more than 65 upon loan maturity.
Still having a hard time on where to start? Then, UpFinance is the thing you need to help you out. Its ultimate goal is to assist Filipinos in finding the best preferences, financial products with the best conditions, or any financial assistance they need.
Some of us are very prone to making impulsive decisions and seem to be unaware of what issues we could face in the future, right? But no one would ever want to go through that.
So, set aside your worries as UpFinance contains various and leading financial companies in the Philippines – pawnshops, banks, payday lenders, and so much more. Each financial company has a section where data and information can be seen. Their website is time-saving as you can quickly find what loan suits you or you prefer. They bring convenience for all by showing vital details of each company.
