Global Dominion Financing, Inc. OFW Loan
No collateral OFW loan
Benefits
- Loan approval in 1-3 days
- No collateral required
- Get approved loan amount of up to 2x your monthly income
Product Features
- financing amount: ₱20,000.00
- Financing amount: Up to 2x of monthly income
- loan tenure: 12 months
- Loan tenure: 12 months
- Interest rate: 1.75% per month
- Approval duration: 1-3 working days
- Debt consolidation: No
Fees & Charges
One time set up
- Processing fee: 5% of approved loan amount
- Stamp duty: Loan with less than 12 months term = Approved loan/200 × 1.50 x terms/365 days while loan with more than 12 months term = Approved loan/200 x 1.50
- Disbursement & misc. fee: N/A
Penalties
- Late payment charges: ₱750 per month up to 15% of the monthly amortization
Eligibility
- Age requirement: Age 21 – 60
- Employment eligibility: At least 3 months of employment contract
- salary requirement: ₱20,000 gross per month
- Guarantor / Collateral requirement: Yes
Other Requirements
- Need to open linked banked account? No
- Other details: Method of Payment – PDC’s or over-the-counter payment
Global Dominion Financing, Inc. OFW Loan FAQ
- How much can I borrow?
You may borrow from as low as ₱200,000 to as much as 2x your monthly income.
- What are the Global Dominion Financing, Inc. OFW Loan Requirements?
An applicant must fulfill GDFI’s eligibility criteria for an OFW loan:
- Applicant must have at least 3 months employment contract
- Must be at least 21-60 years old.
- Has an immediate family member in the Philippines as co-borrower
- Minimum basic salary equivalent to at least ₱20,000
Consequently, after filling out an application form, the following documents are necessary:
- Latest Contract of Employment
- Copy of VISA
- Photocopy of OEC (POEA Overseas Employment Certificate)
- Plane ticket or Flight Details
- Latest Electric or Water Bill. If not in the name of the borrower, you must submit additional proof of residence. (Any documents under your name and with your current address)
- Proof of Remittance (for Balik-Mangagawa)
For co-borrowers, here are the necessary requirements:
- Any 2 valid ID’s
- Marriage contract (if married)
- 2 pcs. 2×2 picture
- Latest and Original Electric or Water bill
NB: Additional documents may be required during credit evaluation.
- How does the Global Dominion Financing Incorporated Loan Calculator work?
The Global Dominion Financing Incorporated Loan calculator computes the estimated cost of borrowing and amount of payment per installment. Input the desired loan amount to automatically get the estimated monthly amortization for different tenors.
Primarily addressing the needs of Filipinos working overseas, GDFI’s no collateral OFW loan is open to overseas Filipino workers who are presently in the country. For OFWs who are abroad, you can also consider getting the Pinoy Abroad loan. Aside from being an OFW with a valid contract, those applying for a loan are required to have a co-borrower. The overseas worker should also have at least ₱20,000 gross monthly salary and the interest charge can be as low as 1.75% per month.
