ASSIGNMENT

NO. 1
BARCELONA, HANNAH | CRUZ, DENNIELLE | DALISAY, YSABELLE
DE VERA, LOUISA | ESPANTA, JAPET | FERNANDO, MAURICE
RAFOL, RHENA | REYES, JOHN | RIOS, JEMINA

The national government, spearheaded by the

Overseas Department of Finance (DOF) and the Land Bank of

Filipino the Philippines (LANDBANK), has launched the

Overseas Filipino Bank (OFBank) as a digital-only,
Bank by first branchless Philippine government bank that
allows clients to complete banking transactions
Landbank anytime and anywhere across the globe

LOAN APPLICATION FORM

 LOANS OFFERED ARE:
1. OFW Reintegration Program
The OFW-EDLP, formerly known as the OFW-Reintegration Program (ORP), is
an enterprise development intervention and loan facility provided by OWWA in
collaboration with the Land Bank of the Philippines (LBP) and the Development
Bank of the Philippines (DBP), with the goal of assisting OFWs and their families
in developing their businesses.
ELIGIBLE BORROWERS
OFWs certified by OWWA on membership and capacity building
program attended
ELIGIBLE PROJECTS
Viable projects belonging but not limited to, the following fields:
franchising, agri and non-agri production and marketing,
construction, rental, service, trading, transportation
Contract tie - up with top 1,000 corporations
LOAN PURPOSE
Working Capital
Fixed Asset Acquisition
 PROJECT COST SHARING
Borrower's Equity - Minimum of 20% of the Total Project Cost
(TPC)
Loan - Maximum of 80% of TPC
LOAN AMOUNT
Minimum loanable amount of P100,000 with the following loan ceilings:
P2 million for single proprietorship
P5 million for group of OFWs (partnership, corporation, or
cooperative) GROUP LOAN BORROWERS

INTEREST RATE
Short Term Loan and Term Loan - 7.5% per annum fixed for the duration of
the loan
LOAN REPAYMENT

Short Term - maximum of one year

Term Loan - based on cash flow but not to exceed seven years,
inclusive of a maximum two years grace period on principal
COLLATERAL
Object of financing and/or other collaterals/securities acceptable
to the bank
Requirements/Checklist to avail:
OWWA Member Active or Non-Active
Completed Enhance Entrepreneurial Development Training
OFW’s working abroad, or planning to leave may be represented by the
following:
- Legal spouse if married
- If OFW is single, widow, widower, or separated-in-fact: Parents not
more than 60 years old or Children who are at least eighteen (18) years old

2. Bahay para sa Bagong Bayani (3B)

A special lending program designed for Overseas Filipino Workers (OFWs).
LANDBANK's Bahay para sa Bagong Bayani program allows OFWs to acquire,
build or renovate their own homes at relaxed and flexible terms.
ELIGIBLE BORROWERS
Filipino citizens
OFWs holding a live contract from a reputable company
21 years old but not more than 65 years of age upon loan
maturity
Clear of adverse credit finding with other creditors
ELIGIBLE LOAN PURPOSE
Purchase of:
Residential Lot
House and Lot
Residential Units/Condominium/Townhouse
Construction/improvement or renovation of existing residential
unit owned by OFW
Refinancing of an existing housing loan of the OFW on
"CURRENT" status
Assumption by an OFW an existing housing loan by another
borrower either with LANDBANK or another creditor
LOAN AMOUNT
Lowest of the paying capacity of the OFW or loan value of collateral
with loan value of 80% provided that:
Financing will be for the principal residence or dwelling of the
borrower OFW; and
The title should be under the name of the OFW

TENOR
20 years: for OFW with co-borrower
15 years : for OFW without co-borrower
COLLATERAL
Primary, the Object of Financing or separate prime property if warranted
Others that may be accepted in addition to the object of financing:
Deposit with Hold-out
INTEREST RATE
Variable: Based on the posted rates at the time of availment
Subject to yearly repricing*
Fixed: Based on posted rates at the time of availment**
-2-3 years
-4-5 years
-6-7 years
-8-10 years
-11-15 years
-16-20 years
For Socialized Housing: 1% below the posted EHL rates at the
time of availment subject to annual repricing***
Note:
*, ** Applicable to EHL, END-BUYER'S TIE-UP and 3B
FOR CREDIT ANALYSIS
Duly accomplished loan application form with 1" X 1" photo
Copy of employment contract
 FOR APPRAISAL:
Photocopy of TCT/CCT
Photocopy of Tax Declaration (land improvements)
Latest Real Estate Tax Receipts
Certified by a Geodetic Engineer
Lot Plan
Location and vicinity map
For Construction and Renovation:
-Photocopy of TCT/CCT

Home Home Credit Philippines is the part of Home Credit

Group, a global consumer finance expert, with a
Credit PH leading presence across 13 countries in Central and
Eastern Europe, Asia and North America. They
started their operations in the Philippines in October,
2013.

Home Credit promotes the principles of financial

inclusion and safe lending, providing world-class
financing services to customers, often first-time
borrowers. They provide higher living standards and
meet borrowers’ financial needs

LOANS OFFERED ARE:

1. Cash Loan
Home Credit PH cash loan easily finance your short-term needs and
long-term plans. It can be a great help in starting a business, renovating
home, upgrading gadgets/appliances and paying tuition fees.
The minimum loanable amount is Php 10,000. The maximum amount will
depend on the offer given to you.
The individual has the option of availing for a Cash Loan from 18, 24, 30 or
36 months. However, this will depend on the offer given him/her.

2. Consumer Loan
This loan allows you to buy any product or consumer good in affordable
monthly installments instead of paying the full price in one transaction.
LOAN APPLICATION FORM
 CHECKLIST OF
REQUIREMENTS
ELIGIBILITY:

18 to 68 years old
Filipino
receiving regular income via employment/ business/ remittance [local or
abroad] / pension) in the last 3 months
2 valid IDs (at least one should reflect current address). One of the
primary IDs must have the full name. One of the primary IDs must have
the date of birth and all primary IDs must have the customer’s signature.
other supporting documents for identification if available (ex: Pagibig ID),
proof of billing (ex: electricity bill)
Email address
Downpayment
ACCEPTED IDs ARE:
Primary IDs
PASSPORT
SSS
GSIS
UMID
Driver’s License (Professional, Non-professional, Student and
Conductor’s License)
Voter’s ID
PRC
New version and brown Postal ID (brown postal ID is only valid until May
2019)
Philsys ID

Secondary IDs
PhilHealth
old version Postal ID
PAGIBIG ID
NBI
Company ID
Savings/Credt/Payment card
Remittance [local or abroad]
Water Bill
Landline Bill
Mobile Bill
Electricity Bill
 Certification of Employment
Salary slip
Bank statement
Barangay certificate/clearance
Cable Bill
Internet Bills

COMPARISON IN TERMS OF THEIR NATURE,

MODE/PLATFORM/SCOPE, LOANS OFFERED, TARGET
MARKET, LOAN DETAILS, AND APPLICATION PROCESS

Overseas Filipino Bank

(OFBank) Home Credit Philippines

Home Credit Philippines is part

OFBank is a wholly-owned
of the Home Credit Group, a
subsidiary of Landbank of the
global consumer finance
Philippines being the first
expert. Home Credit promotes
branchless, digital-only
BY NATURE the principles of financial
Philippine government bank that
inclusion and safe lending,
allows clients to complete
providing world-class financing
banking transactions anytime
services to customers often
and anywhere across the globe.
first-time borrowers.

Home Credit has a leading

OFBank doesn’t have a physical
branch however, its global
digital reach spans 112 countries
with its clients able to access
online services through its
MODE/PLATFORM Mobile Banking App that can
/SCOPE cater to Overseas Filipinos and
their beneficiaries to apply
conveniently using their
Overseas Filipino Bank Debit
Account through this platform.
presence across 13 countries in
Central and Eastern Europe,
Asia, And North America. Here
in the Philippines, it can be
found in all of their 3500
partner stores in SM and
Robinsons Mall in different
regions of the country. Also,
customers can discover
incredible Loan options in the
comfort of their homes using
the mobile My Home Credit
App and website.

It offers loan programs such as
the OFW Reintegration
Program and Bahay para sa
Bagong Bayani (3B) that are
designed for Overseas Filipino
TYPES OF LOANS
Workers (OFWs) with the goals
OFFERED
of assisting OFWs and their
AND TARGET
families in developing their
MARKET
businesses and allowing them
to acquire, build, and renovate
their own homes at relaxed and
flexible terms.
The minimum loanable amount
for OFW Reintegration
Program is P100,000 with the
corresponding loan ceilings of
P2 million for proprietorship
and P5 million for Group Loan
LOAN DETAILS
Borrowers.
(Amount, Ceiling,
& Tenure)
It has a loan repayment tenure
of 1 year to 7 years for the
OFW Reintegration Program
and 15-20 years for the
principal amount of Bahay para
sa Bagong Bayani (3B) lending
program depending on the
eligibility of the citizen.
It offers Cash and Consumer
loans to finance short-term
needs and long-term plans
mainly to start a business,
renovate a home, pay tuition
fees, upgrade
gadgets/appliances, and buy
any product or consumer good
to eligible clients who are
Filipino ages 18 to 68 with
regular income via
employment/ business/
remittance (local or abroad)/
pension in the last 3 months.
Moreover, Home Credit
customers with good payment
standing have a greater
advantage for a Cash Loan
application.
The minimum loanable amount
for a Cash Loan is P10,000,
while the maximum amount will
depend on the personalized
Cash Loan offer of the Home
Credit. The loan amount offered
to consumer loans will vary
depending on what product or
consumer good will be
purchased by the customer in
affordable monthly installments
Cash and Consumer loans
offered by Home credit can be
short-term and long-term loans
having 18 to 36 months as the
longest which is why the tenure
and requirements depend on
what type of loan the customer
will avail.

The application process will be
APPLICATION extensive as expected since
PROCESS these types of loans have
painstaking screening and
exhaustive requirements.
The process of application can
be approved as fast as 1 minute
and the customer will receive a
confirmation message via SMS
with the result of the application
as long as the customer meets
certain requirements.