Step 2: Fill out the application form which contains your personal details and loan requirements. Applying for a Land Bank loan is the same as when applying for other loans. Just fill out the application form and submit all the requirements needed. And then wait for the approval, which may take 3-5 days to process.
Currently, the Landbank grants loan assistance from P50,000 to P300,000 providing that the OFW can provide legitimate collateral such as land titles and other valued assets. The loan has an interest rate of 8 percent. Many OFWs are discouraged to apply for the loan because they cannot present any valuable collateral to the bank.
Eligible Borrowers OFWs certified by OWWA on membership and capacity building program attended ELIGIBLE PROJECTS Viable projects with a confirmed market or Purchase Order (if any) that will generate net monthly income of at least P10,000 Loan Purpose Working Capital Fixed Asset Acquisition Qualified OFWs can avail a minimum loan of P300,000 up to P2,000,000.
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