MANILA, Philippines — APROBADO na sa third and final reading ang panukalang batas na may layuning mabigyan ng 50% discount ang remittance fees na ipinapataw sa mga overseas Filipino workers.
Sa botong 224-0, unanimous na inaprobahan ng mga mambabatas ang House Bill 7951. Sa ilalim ng panukalang batas, inuutusan nito ang mga bank at non-bank financial institution na bawasan ng kalahati ang bayad ng mga OFWs sa perang ipinapadala ng mga ito sa kanilang pamilya.
Sa ilalim ng panukalang batas, maaaring makakakuha ng tax deductions ang nasabing mga financial institution base sa discount na ibinibigay ng mga ito sa OFWs.
"The total deduction from the gross income of establishments providing discounts should not exceed P24,000 per OFW every taxable year,"
Pinagbabawalan din ng panukalang batas ang lahat na mga establishments na nabibigay ng remittace services na magpataas ng kanilang kasalukuyang remittance fees na walang consultation sa Department of Finance, Bangko Sentral ng Pilipinas, at Philippine Overseas Employment Administration.
Maliban dito, inaatasan din ng batas ang DOF, BSP, POEA at iba pang ahensiya na magbigay ng financial education program sa mga OFWs at kanilang pamilya.
Layunin umano nito na mabigyan ng kaalaman ang mga OFW at pamilya ng mga ito kung paano pangangasiwaan ang kanilang kita.
Ayon kay Pampanga Representative Aurelio Gonzales Jr., principal author ng House Bill 7951, na sakaling maging batas ito, " it would save OFWs billions in remittance fees that their families could use as additional funds during this time of pandemic."
Sa ngayon, nasa Senado na ang counterpart ng nabanggit na panukalang batas na inihain ni Senator Manny Pacquiao.
Panibagong grace period na naman sa pagbabayad ng mga loans ang ipapatupad ng gobyerno sa ilalim ng Bayanihan 2 Law. Sa ilalim ng batas, one-time 60-days na grace period ang ipapatupad na may layuning maibsan ang hirap ng publikong nakakaranas ng krisis sa ngayon dahil sa pandemyang dala ng coronavirus.
Sa ilalim ng Republic Act No. 11494 o Bayanihan to Recover as One Act, inuutusan nito ang mga sumusunod na magpatupad ng grace period sa pagbabayad ng mga loans na na may due date bago pa man ang Disyembre 31 na walang interes, penalties at iba pang charges.
Nakasaad sa batas na “All loans may be settled on staggered basis without interest on interest, penalties and other charges until December 31, 2020 or as may be agreed upon by the parties,”
“Nothing shall stop the parties from mutually agreeing for a grace period longer than 60 days.”
Maliban sa 60-days na moratorium sa loan payments, nakasaad rin sa Bayanihan Law ang 30 araw na palugit sa pagbabayad ng water, electric, telecommunication at iba pang utility bills sa mga lugar na sakop ng Enhanced Community Quarantine o ECQ na walang extra charges.
Pagkatapos umano ng grace period, maaring bayaran on staggered basis ang hindi nabayarang utility bills sa loob ng hindi bababa sa tatlong buwang installments.
Binibigyan din ng 30-araw na grace period ang pagbabayad sa renta sa mga residential at commercial establishments na walang interest, penalties at iba pang charges.
Ayon sa batas, “No increase in rent shall be imposed during the same period.”
Overseas Filipino Workers (OFWs) are not rich despite being able to earn higher salary abroad. There are times that they need to reach out to someone for their financial needs. When they need to have their own house or pay their mortgage, they could use a loan to do it but finding the most accommodating bank or government entity to avail it might be difficult for them. Being based overseas also limits their means and even capabilities to meet their needs with the various financial institutions in the Philippines.
The OFWs has buying power with over $24.35 billion worth of remittances has been sent to the Philippines last year. In this regard, local lenders have been more than willing to accommodate OFWs who are looking to loan cash.
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BDO offers Personal, Home, and Auto Loans to OFWs through its Asenso Kabayan Program. Borrowers should at least be 25 years old but not more than 65 years old upon the maturity of the loan. You should be employed for at least 2 years abroad for skilled workers, and at least 3 years for domestic helpers taking home at minimum P10,000 gross monthly for Personal and Home Loans, and P50,000 per month for Auto Loan.
Borrowers can submit their application to callcenter@bdo.com.ph. You must also have an initial minimum deposit of P100 for peso account and $100 for dollar account to qualify for the loans. All forms can be downloaded at www.bdo.com.ph.
BPI grants Personal Loan, Housing Loan and Auto Loans to OFWs working abroad for at least 2 years and earning a minimum of P30,000 per month for Personal and Auto Loans, and a minimum of P40,000 for Housing Loans. Borrowers should be at least 21 years old and not more than 60 years old upon the maturity of the loan. You must be physically present at the BPI branch to sign the loan documents once it is approved. To apply online, visit www.bpiloans.com.
OFWs employed for at least 3 years and earning a minimum of P50,000 per month can apply for a Housing Loan at Chinabank. You must be at least 21 years old and not older 65 years old upon loan maturity, without any adverse credit findings such as court cases, bouncing checks, unpaid loans, cancelled credit cards, etc. For more information, check out www.chinabank.ph.
EastWest Bank offers Home and Auto loans to OFWs between 21 years old and up to 65 years old upon loan maturity, who earns a minimum of P40,000 monthly income. You can fill out the application form at www.eastwestbanker.com and submit necessary documents to csloans@eastwestbanker.com.
Land Bank offers home loans to OFWs through its Bahay Para sa Bagong Bayani Program. Borrowers holding a live contract from a reputable company, 21 years old but not more than 65 years old upon loan maturity, and without any CI/BI adverse findings are qualified to apply for the loan. Interested applicants can visit www.landbank.com for more information.
PNB offers home loans for OFWs based in Singapore, Japan, New York and Los Angeles, through its Own a Philippine Home Loan program. Borrowers based in Singapore must have a minimum gross annual salary of SGD 48,000 and your Total Debt Servicing Ratio must not exceed 60% of Gross Monthly Income.
Meanwhile, OFWs based in Hong Kong and Saudi Arabia can avail of PNB’s Global Filipino Auto Loan program. You should be at least 21 years old and not more than 60 years old upon loan maturity to qualify. PNB also requires interested borrowers to have worked abroad for the last 2 years. You can visit www.pnb.com.ph for more details.
PSBank has a Own Your Home and Drive Your Car program for OFWs who aspire to buy property and cars. Borrowers have to be 21 years old and up to 65 years old upon the maturity of the loan. You must have worked for at least 2 years and earning a combined family income of P30,000 to qualify for a home loan. PSBank also requires a residential real estate property for collateral. Visit www.psbank.com.ph for more information
Security Bank offers housing and auto loans to OFWs who have worked abroad for at least 2 years and are least 21 years old, but not more than 65 years old upon loan maturity. Borrowers must be earning a combined household income of at least P50,000 for housing loans; a minimum monthly income of P40,000 for brand-new car buyers; P20,000 for pre-owned car buyers.
Interested borrowers must complete the necessary documents and scan them. Fill out the online application form at www.securitybank.com and upload the documents.
OFWs working for at least 2 years in a permanent capacity can apply for a housing loan at RCBC. Borrowers have to be at least 21 years old upon application but not more than 65 years old upon loan maturity. You can visit www.rcbcsavings.com for more information.
OFWs employed for the last 12 months with a minimum gross monthly income of P30,000 can apply for a home loan at UCPB. Visit www.ucpb.com to learn more.
OFWs who have remitted at least 24 monthly contributions can qualify to avail of Pag-IBIG’s affordable housing loan. New members may, may alternately pay the 24 monthly contributions in lump sum. Borrowers must be below 65 years old, without any outstanding Pag-IBIG housing loan nor multi-purpose loan in arrears. As an additional requirement, you should not have had a Pag-IBIG housing loan that was foreclosed, cancelled, bought back due to default or subjected to Dacion en Pago. For more information, visit www.pagibigfund.gov.ph.
Certified OFWs who have at least 36 monthly contribution and 24 continuous contributions can apply for a Direct Housing Loan Facility for OFWs offered by SSS. To qualify, borrowers must not have a previously granted SSS housing loan, or receiving final SSS benefits. The spouse of an existing borrower may still qualify for an SSS housing loan if the loan had been obtained before their marriage and the loan isn’t delinquent. You can visit www.sss.gov.ph for more information.
