In short
They are BDO, BPI, Metrobank, China Bank, Security Bank, RCBC, Bank of Commerce, EastWest and Toyota Financial Services.
BDO asks for a ₱50,000 monthly family income; BPI's My Overseas Pinoy channel gets a decision on an overseas Filipino's loan in about 5 days.
Across the 7 banks that quote an add-on rate, 60-month rates today run 25.80% to 32.52%.
- Named OFW car loan product
- None stated by these banks
- Banks that accept OFW applicants
- 9 of these lenders, each under its regular auto loan
- Minimum time working abroad
- 2 to 3 years at BDO; at least 2 consecutive years at RCBC
- Remittance proof required
- 3 months at BDO and Security Bank; 6 months at Metrobank and China Bank
- Lowest stated income floor, standard auto loan
- ₱30,000 a month, household, at BPI
Check which banks' rules you meet
Loan length: 5 years.
Enter your age and monthly income to see which banks' rules you meet.
The banks' stated minimums. Banks also check your credit record and documents; meeting these rules is not an approval. Security Bank's income rule differs between its own pages, so this tool leaves it out.
Is there a car loan made only for OFWs?
No. None of the nine bank and finance-company pages here name a separately run OFW car loan, an OFW-only rate or an OFW-only down payment.
What exists is a regular auto loan at each bank, with a document list for applicants who work abroad.
Two lenders run a named channel for overseas Filipinos even though the loan itself is the standard product. BPI's My Overseas Pinoy gets a decision in about 5 days for an overseas Filipino's loan.
BDO's Kabayan remittance page lists Auto Loan among the products an OFW can ask about, though filing still happens inside the Philippines. The other seven lenders here state no OFW channel at all.
You apply under the same car loan requirements as any locally employed borrower, swapping payslips for the document list below.
| Bank | Named OFW channel | What it actually is |
|---|---|---|
| BPI | My Overseas Pinoy | Apply online from abroad; sign with a consularized or apostilled SPA; dedicated auto account officer; about 5 days to a decision |
| BDO | Kabayan (Abot-Pangarap) | Lists Auto Loan among the loans an OFW can ask about; filing happens only in the Philippines |
| Metrobank | None | Standard auto loan, land-based or sea-based OFW document list |
| Security Bank | None | Standard auto loan; Filipinos residing abroad need a qualified Filipino guarantor or co-maker |
| RCBC | None | Standard auto loan; requires at least 2 consecutive years working abroad |
| China Bank | None | AutoPlus auto loan, employed-abroad document list |
| Bank of Commerce | None | Standard auto loan, OFW document list |
| EastWest | None | OFWs named among eligible applicants for the standard auto loan |
| Toyota Financial Services | None | OFW/Seafarer document list, applied for at any Toyota dealer |
Age, income and years abroad, bank by bank
Every lender below states its own age ceiling and income floor for the regular auto loan. The OFW document list sits on top of these; it does not replace them.
Compare your numbers against each bank before you apply at compare every bank or run the loan through the calculator.
| Bank | Age limit | Minimum income | Years working abroad |
|---|---|---|---|
| BDO | 21 to 70 at the end of the loan term | ₱50,000 a month, family | 2 to 3 years, consecutive |
| BPI | 18 to 70 at loan maturity | ₱30,000 a month, household | Not stated as a fixed number |
| Metrobank | 18 and up, no maximum stated | ₱40,000 a month, family | Not stated as a fixed number |
| Security Bank | 21 to 65 at final maturity | ₱100,000 a month, joint with a Filipino co-maker (another Security Bank page states ₱40,000 for a brand-new car) | Not stated as a fixed number |
| RCBC | 21 to 70 | Not stated for the OFW track | At least 2 consecutive years |
| EastWest | 21 to 70 at maturity | ₱40,000 a month, individual | Not stated as a fixed number |
Documents: land-based OFW vs seafarer
Land-based and sea-based OFWs are asked for different papers at most banks. If you work on a ship, the full seafarer document set is covered in our seafarer car loan guide.
That set includes the Seaman's Book and Certificate of Sea Service. The table here is the shorter land-based list plus where it differs for crew.
| Bank | Land-based OFW documents | Sea-based / seafarer difference |
|---|---|---|
| BDO | 3 months of remittance proof; consularized COE with income or 3 months of payslips | Latest crew contract accepted in place of the COE |
| BPI | Latest contract or COE; 3 months of payslips; proof of bank remittance; passport | Crewing manager details; Affidavit of Marital Consent with SPA for onboard signing |
| Metrobank | Original COE with compensation, position and tenure | Latest POEA contract plus Certificate of Sea Service |
| China Bank | Employment contract; 3 months of payslips; 6 months of remittance proof | POEA-validated crew contract instead of the employment contract |
| Security Bank | Employment contract authenticated by the Philippine consulate; 3 months of remittance | Latest crew contract in place of the consulate-authenticated contract |
| Bank of Commerce | COE with position, income and length of stay; 3 months of remittance; 1 month payslip | Latest job contract required for sea-based applicants specifically |
| Toyota Financial Services | 1 government ID; COE or POEA contract; 3 months of remittance | Seafarer's Book where the applicant has one; return ticket if available |
When you need a co-maker, guarantor or SPA
Not every OFW needs a co-maker or a Special Power of Attorney. It depends on the bank and, at BPI, on whether you are onboard a vessel or onshore when you sign.
5 of 5 still to check
An SPA is not a blanket OFW rule. Only BPI names one, and only for onboard seafarers or applicants signing from abroad. Confirming which route your bank uses before you submit documents saves a second trip to a consulate or notary.
How to apply for a car loan while you are still abroad
The sequence below follows what BPI's My Overseas Pinoy page and the OFW documents above actually state, not a generic five-step template.
- Pick the car and get a dealer quotation
Security Bank lists the dealer's quotation among its OFW requirements; have this ready before you apply.
- Submit your income documents
At BPI, initial income documents are enough to get pre-approved; the SPA and other non-income papers can follow.
- Contract or COE
- 3 months of payslips or remittance proof
- Arrange your signing route
Set up whichever your bank requires: BDO's Assignment of Beneficiary, Security Bank's Filipino co-maker, or BPI's consularized SPA.
- Wait for the decision
BPI states about 5 days for an overseas Filipino's loan; other banks in this guide do not state an OFW-specific processing time.
- Sign and register the chattel mortgage
The loan is released once the chattel mortgage is registered on the car, the same step every borrower goes through.
Claims about OFW car loans that no bank actually states
A common template for this topic names a lender called "OFW Auto Loan Guide". It quotes a 7% to 16% rate, a fixed 20% to 30% down payment and a 5 to 10 day processing time.
None of that exists on any of the nine lender pages here. The rate you get is your chosen bank's standard auto loan rate.
The down payment and term follow that bank's regular schedule too, not a separate OFW table.
A Special Power of Attorney is also not universal. Only BPI names one, tied to onboard signing or signing from abroad.
If your bank does not list an SPA in its OFW documents, do not add one on a general assumption.