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| Seaman Loan Offer in Philippines |
Although both loans currently offered in the Philippines do not have collateral, if I were to compare them, I'd say that
seaman loan offers is much better than the other. Why? Simply because if you apply for the
OFW loan, chances are, today, you are going to be denied. The reason is due to the very high delinquency rate in both private and public lending companies in the Philippines today.
To avoid getting bankrupt, banks and lending firms have to resort to stopping the offer or closing down the option for overseas Filipino workers to apply for a loan. This alone is enough for me to say that if I were to choose which is best if you are going to apply for a credit, the
seaman or seawoman loan is much better.
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| OFW Loan Vs Seaman Loan? |
Take note that apart from this fact, the said type of loan which I prefer offers convenience in application and approval rate. 1 day approval is currently being offered to maritime workers compared to the ordinary overseas job workers provided that you have a complete set of requirements when you apply. Furthermore, it also gives ease in the process of application as stated above compared to an
OFW loan.
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