Basic Qualification Requirements
- Filipino Citizen
- 21 to 59 years old upon loan maturity
- If 60 years old and up, with special power of attorney
- Must have contact number
- Must have co-maker or co-borrower (unless specified that one is not needed)
Seaman Loan Basic Documentary Requirements (photocopy only)
- Standard contract with POEA validation. Only updated contracts are considered valid. You may borrow or request for a photocopy of this document from your agency or office
- Passport (must be updated/latest and valid)
- SRC and Seaman's Book (must be valid and updated)
- Allotment slip or Certificate of allotment (latest slip from seaman shipping company)
- 2 valid primary or government issued I.D's
- Marriage Contract or birth certificate of child/children if married or 3 months latest payslip if not married
- OEC (validated)
- Original proof of billing (electric or water bill)
- Completely filled up loan application form with signature of applicant/seaman and co-borrower
- Four pieces 2x2 photo (both allottee and seaman)
Allottee/Co-borrower and Seaman requirements
Your best choice for a co-borrower is your allottee for fast seaman loan processing. If parent is allottee, he or she should be less than 60 years old or not a senior citizen. If wife is allottee, she also needs to submit all the requirements listed below. For self-allottee, only first degree relatives are allowed to become co-borrower (parents, brother or sister, daughter or son). It is best if co-borrower is living in the same address as the loan applicant so that 1 proof of billing may be submitted.
- 2 valid I.D.'s
- 4 pcs. 2x2 latest picture
- Latest and original proof of billing for either water bill, electric bill, sky cable or other cable bill, remittance receipts and other documents proving your residence (this will be checked)
If proof of billing is not under the name of the loan applicant, the 2 valid I.D.'s submitted must have the same address as the billing receipt. If you can't provide a proof of billing with the same address as your valid I.D.'s, you will be asked to submit any or 2 or the following documents as proof of residency:
- Your children's school ID
- Old documents like Transcript of Record
- Your old school ID
- Remittance bills and receipts (Western Union, Banks, etc.)
- Voter's ID
- Barangay Residence Certificate duly signed by the incumbent Brgy. Chairman
Other possible requirements to be submitted by seaman loan applicants and co-borrower (case to case basis)
3 months proof of allotment (bank statement not less than 20K in amount)
Copy of Seafarer Registration Certificate (SRC)
Co-borrower qualifications (wife or allottee for easy and fast processing of seaman loan)
- Must be immediate family member or closest relative
- Living with the seaman loan applicant
- With stable source of income (will be required to submit 3 months latest payslip and certificate of employment)
- Latest Mayor or Barangay Business Permit (if with business)
Loanable Amounts (based on seafarer's salary and position on board the ship)
Master / Captain / Chief Engineer ---- 250K to 300K
Chief Mate / Chief Officer / 2nd Engineer ---- 180K to 200K
2nd Mate / 2nd Chief Officer / 3rd Engineer ---- 160K to 190K
3rd Mate / 3rd Officer / 4th Engineer ---- 140K to 180K
Electrician ---- 140K to 170K
Radio Officer / Chief Steward ---- 100K to 130K
Jr. 3rd Mate / Jr. 3rd Officer / Jr. 4th Engineer ---- 120K to 150K
Bosun / Fitter / Pumpman ---- 100K to 130K
Machineman / Carpenter ---- 90K to 110K
Chief Cook ---- 60K to 75K
Abled Seaman / Oiler / Motorman ---- 75K to 100K
2nd Cook / Wiper / Ordinary Seaman/ Messman / Others ---- 50K to 75K
Loan Payment Terms (depends on the seaman's work contract)
3 months
6 months
9 months
1 year
Loan Interest Rate (depends on seaman's preferred payment term which should not exceed his or her contract)
3% add on interest
5% add on interest
Mode of Payment
PDC (Post Dated Checque)
Money Remittance
Loan Grace Period is 1 month
Loan Amortization or Monthly Payment is based on seaman's preferred Loan Payment Term
If you are interested in the Seaman Loan we offer, you can call us now! Our mobile numbers are 0915-592-9654 for GLOBE subscribers, 0936-280-7798 for TM, and 0949-857-2250 for SMART and our email address is maricarlapuz@gmail.com. We'll be very glad to hear from you and we look forward to assisting you on your seaman loan application.
