Frequently Asked Questions About Maintaning my Home Loan

How can I pay my monthly amortization?

Monthly loan payments are deducted from your enrolled BDO Account via Automatic Debit Arrangement (ADA). You may refer to your Amortization Schedule for your monthly payment and loan details\

For OFWs/Immigrants, the following payment options are available:

Via Remittance to BDO Account

• Visit any BDO Remit Office or accredited remittance partner abroad.

• Fill out form to credit funds to your BDO Account assigned under ADA

Via Fund Transfer thru SWIFT Code

• Visit any of **BDO's Correspondent Bank **abroad.

• Fill out form:

1. If Credited to BDO Deposit Account

   • Beneficiary Bank (use SWIFT Code BNORPHMM)

   • Beneficiary Name (should be the account name of the client)

   • Beneficiary's BDO Deposit Account Number

   • Amount of Payment

   • Purpose of Remittance, specify PAYMENT FOR HOME LOAN

2. If Direct Payment via PN No.

   • Beneficiary Bank (use SWIFT Code BNORPHMM)

   • Beneficiary Name (should be the name of the client)

   • Promissory Note Number (PN No.)

   • Amount of Payment

   • Purpose of Remittance, specify PAYMENT FOR HOME LOAN

Why do I need insurances for my Home Loan? How do I pay for them?

Insurance protects you, your family, and property in case of untoward incident/s that can happen during the term of your BDO Home Loan.

Credit Life Insurance (CLI) – covers your outstanding loan balance, in case of total disability or untimely death.

Fire Insurance (FI) – covers loss or damage to your property caused by fire, calamity, catastrophe, etc.

Contractor’s All Risk Insurance – applicable to Construction or Renovation Loan, covers for the damages associated with the construction of your property. This is converted to Fire Insurance upon completion of construction.

With the Built-In Insurance Facility, BDO offers payment of CLI and FI annual premiums in 12 equal monthly installment at 0% interest and billed together with your monthly amortization.

How do I access my account online?

BDO Online Banking

To access BDO’s Online Banking, you should have a BDO Deposit Account or Credit Card. 

If you don't have a BDO Online Banking Account yet, sign up here.

To set up your Home Loan Account:

1. Log in to your BDO Online Banking.

2. Go to Enrollment Services.

3. Add your Home Loan Account.

Once your account is set-up, you may view your Account and Transaction Details, such as Account Number, Interest Rate, Monthly Amortization, Outstanding Balance, etc.

BDO Loans Quick Inquiry

1. Click here to check your account.

2. Fill out the form with your loan account and personal details.

3. You will receive a One-Time Password (OTP) through your registered mobile number to complete your log in.

Is partial payment to the loan principal balance allowed?

Partial payment refers to the advance payment applied to the outstanding loan principal balance.

There is no charge if you decide to partially pay your Home Loan. However, partial payment is suggested to be made on the anniversary due date of your loan. Note that the partial payment must be made on due date in addition to your monthly amortization.

Click here for the request for partial payment.

TO KNOW MORE ABOUT THIS KINDLY CONTACT

Maica Castillo

EMAIL : iamdrivenmaica@gmail.com

VIBER : 09760077327

SOURCE:

https://www.bdo.com.ph/personal/loans/home-loan?fbclid=IwAR1exYe2EgHfETep45GUBf5s1pe8lu8AVh8rcDvzQ1J_wQ4jK1HiyRNt8M8#faqaccordion-ebf4a335fc-item-885696a7b6