Interior paint can be a powerful tool for expressing oneself and creating a unique and personal living space. With the wide variety of colors and finishes available, interior paint offers an endless array of possibilities for transforming a room into a reflection of your personality, tastes, and moods.
The paint colors that you incorporate in your living space says a lot about who you are as a person and the energy you want to radiate into the room. Colors, aside from their visual impacts, can evoke different emotions and moods. Adding bright and vibrant colors may mean you are feeling bold and adventurous, while those who prefer a solemn and calm atmosphere prefer to add soft pastel shades or muted earth tones.
The paint color trends that topped the charts last 2022 focused more on ‘staying grounded’ with ‘back to nature shades,’ particularly soothing shades of green and blue. This year, the color palettes will put the spotlight on self expression and restoring yourself as the society crawls back to the time prior to the pandemic.
So, if you’re looking for inspirations for your upcoming home interior paint job, then you’re in the right place! Read on and find out which colors will rank the charts this 2023 according to interior design experts & paint companies and how you can incorporate them in your living space!
Photo Courtesy of Pantone
Pantone Color Institute lays out Viva Magenta 18-1750 as its color of the year for 2023. Described as ‘brave’ and ‘fearless,’ this bold pinkish red color was “inspired by the red of cochineal, one of the most precious dyes belonging to the natural dye family as well as one of the strongest and brightest the world has known,’ according to Leatrice Eiseman, executive director of Pantone.
Already popular in the fashion and beauty scene, this color is slowly seeping its way to the interior design scene. Viva magenta is both powerful and empowering. It revels in joy and allows interior designers and homeowners to experiment and decorate without any restraint.
Highlight this popping color in your interior spaces through furniture while keeping the walls and rest of the room neutral. You can also pair it with soft blues, greens, and beige. Feeling a bit bolder? Why not use it as the main color for your accent walls?
Continuing with reds on this list, Painting company Benjamin Moore & Co. picks the vibrant coral shade Raspberry blush as their color of the year for 2023.
Naturally bright and charismatic, Raspberry blush is an ideal statement color, filling any dull space with a lively, energetic mood. You can either splash your walls with this hue or you can use it as a color accent, pairing it with soft shades of white or beige to tone down the striking color.
According to Andrea Magno, Color Marketing & Development Director for Benjamin Moore, “People are ready to bring color back into the home, taking a step outside their color comfort zones. Raspberry Blush 2008-30 and the Color Trends 2023 palette empower the use of statement colors that deliver delight and personality while transforming rooms for incredible results.”
Thanks to its ‘subtle pink undertones,’ it’s very easy to incorporate this color into any living space. It works best as a warm accent partner to cool tones or as warm neutrals for any room in your house.
The grounding harmony of blush and beige of Redend Point makes you feel instantly at home with its embracing warmth. It is the perfect mid-neutral tone that lets you stay connected with nature while in your own personal space.
“People have been drawn to nature-inspired and earthy tones the past couple years, and this is something that will continue into 2023 and beyond. Greens, blues, and browns can make any space feel safe, calming, and grounded yet still energized,’ says Sue Wadden, Director of color marketing for Sherwin Williams.
Wanting more freedom to express yourself? Why not paint your wall with Behr’s color of the year Blank Canvas? As literal as its name, this color practically goes and pairs well with everything, thanks to its warm neutral shade.
“Blank Canvas effortlessly offers a clean and inviting blank slate that allows individuality and creativity to flow freely. This white easily harmonizes with a wide range of hues, including neutrals, earth tones, and pastels for a charming and cozy appeal,” state Erika Woelfel vice president color and creative services at Behr.
Painting your bedroom walls with this color will help you destress after a long day of work. Been working in a work-from-home setup? Enhance your creativity and concentration by using this in your home office finishes and trims.
You can also pair Blank Canvas with black for a dramatic impact or with green or cobalt blue to brighten up your mood in an instant. Personally, I’d like to pair it with a dark green for a cooler, calmer mood or with a burnt orange for more energetic vibes.
Home styling blog site The Nordroom also drops its 2023 COTY forecast, and for its editor Astrid, it is gearing towards warm color palettes, particularly in warm yellow.
Warm yellow is a versatile color that comes in a variety of color shades and has been slowly popping frequently inside homes worldwide. It evokes a sense of gravitation and connection to nature thanks to its warm and slightly earthy tone, especially in modern homes.
And since this color has been used for centuries, it is also perfect to incorporate in period homes as it amplifies that ‘historic feeling’ of the space.
Choosing the right colors for your home interior design is crucial for creating a comfortable, inviting and visually appealing living space. The colors you select can have a significant impact on the overall mood, ambiance and atmosphere of your home, and can greatly influence the way you and your guests feel when spending time in each room.
Here are a few reasons why choosing the right colors for your home interior design is important:
Sets the Tone: The colors you choose can set the tone for your home, and can help create a consistent and cohesive look throughout your living space. For example, if you want to create a calm and relaxing environment, you may choose cool, muted colors like blues, greens, and grays. Alternatively, if you want a more energetic and lively atmosphere, you may choose bright, bold colors like reds, oranges, and yellows.
The right colors can help create the illusion of space in small rooms or apartments. Lighter, softer colors can help make a room feel larger and more open, while darker colors can make a room feel smaller and cozier.
The colors you choose can also enhance the natural lighting in your home. Lighter colors reflect natural light, making a room feel brighter and more spacious, while darker colors absorb light, creating a more intimate and cozy feel.
Your choice of colors can also reflect your personal style and taste. Whether you prefer bold and vibrant hues or muted, calming tones, the colors you choose should be a reflection of your unique personality and individuality.
Finally, the right colors can also increase the value of your property. A well-designed, visually appealing living space can be a major selling point for potential buyers, and can help you get the most value out of your investment.
In summary, choosing the right colors for your home interior design is essential for creating a comfortable, inviting and visually appealing living space. From setting the tone and creating the illusion of space to enhancing lighting and reflecting personal style, the colors you choose can have a significant impact on the overall look and feel of your home.
Looking for an affordable property? Contact us today
A lot of Filipinos dream of owning their first apartment or house and lot. With today’s booming real estate opportunities, there are so many options to choose from.
Here at Vista Land International, we have a roster of affordable property listings from several locations across the country. Whether you’re looking for a place to live in Manila, Cebu, Davao and etc, we’ve got you covered. So contact our real estate agents today!
Vista Land International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vista Land International as a real estate professional and earn a commission!
Vista Land International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
In the Western Visayas Region of the Philippines lies a small tropical island that is widely recognized as one of the top tourist destinations in the country. Often touted as one of the most beautiful beaches in the world, there are several reasons why this small island remains a popular destination from around the world. If you still haven’t got a clue about what we’re talking about, let me lay it out for you. Of course, we’re talking about the one and only Boracay Island.
In this article, we will walk you through its stunning beaches as well as the 6 best tourist attractions in Boracay!
Boracay is a constant tourist magnet, and I’m pretty sure it occupies a space in your travel goals and bucket lists. I mean, who can resist swimming into the crystal clear waters that crashes into the powdery white sandy shore of the island? The view of Boracay Island is stunning and jaw-dropping. Moreover, it is also a favorite among local and international divers because of its mesmerizing diving sites. Whether you want to dive into the cerulean waters, explore the abundant marine life under, or just take a leisure afternoon stroll on the serene beach shore, there is something for you to discover here in Boracay!
In addition to its beaches, Boracay is also known for its vibrant nightlife. The island is home to a wide variety of bars, restaurants, and clubs, many of which stay open late into the night (sounds like another episode of Boracay pub crawl). From live music and fire dancers to beach parties and night markets, there is always something exciting happening on Boracay after the sun goes down.
Excited to explore the magnificent Boracay beach? Well, we’ve got your back covered! We’ve curated all the interesting tourist attractions in Boracay, as well as other stunning spots and thrilling activities! So, prepare your swimwear and wear your sunscreen ’cause we’re about to have fun under the sun!
As we all know, Boracay boasts some of the most stunning beaches in the world. The island’s main beach, White Beach, is a four-kilometer stretch of powdery white sand and crystal-clear turquoise waters. The beach is divided into three sections, each offering its own unique atmosphere and charm.
Station 1 is where you can find the famous Willy’s Rock formation and a wide array of luxury resorts while Station 2 houses the mid-range Boracay hotels and the last Station caters for the budget-friendly travels and accommodations. Although the last ones lean more towards being friendly in the pockets, it still delivers the same Boracay charm with a more serene atmosphere.
Now, what makes White Beach a must-see when you visit Boracay Island? It’s simply the host of various water sports activities, endless rows of restaurants, and lots of entertainment that will surely make you come back for more!
Exploring outside the White Beach takes you to the equally magnificent Puka Shell Beach. It is named after the puka shells that littered its shores. And because of that, its shores have a coarser texture compared to White beach but don’t worry because Puka Beach still delivers with its almost unspoiled beauty and breathtaking view of the verdant forest standing on a cliff that overlooks the area.
Aside from appreciating its stunning views and idyllic beaches, you can also try to spot some passing flying foxes. These fruit bats are a sight to behold while you sip on your refreshing coconut juice. Don’t forget to do your part in protecting these bats by coordinating with Friends of the Flying Foxes (FFF), a local organization that looks after the welfare of flying foxes.
Looking for a more private place? Head on to Ilig iligan Beach! This area is more secluded and doesn’t have any commercial establishment, beach resort, and other developments. Just make sure to bring your own necessities as it may be difficult to buy some in the area.
One of the best things to do in Boracay is of course, island hopping. You can either hire an outrigger boat or join an island hopping tour group. Some of the itineraries in your island tour include Crystal Cove Island, Magic Island, Balinghai Beach, and Crocodile Island (don’t worry there are no real crocodiles here).
Got little to no time joining an island hopping? Relax and escape into the cradles of nature for a while at Diniwid Beach, located just a few minutes away from the White Beach! It is also a favored swimming and snorkeling spot.
Of course, what’s a visit to Boracay Island without having fun under the sun and in the crystal clear waters? Boracay also offers a wide range of activities and attractions for visitors to enjoy. Take a look at them at the list below!
Are you up for a thrilling ride in the water? Prepare to scream your lungs out with your friends as you rush through the waters riding a banana boat. It’s best to book a ride in advance to save time but you can also book a ride on the spot.
Can’t get enough of the adrenaline rush? Why don’t you try cliff diving or cliff jumping next?
Make your mermaid dreams come to life by renting mermaid tail outfits that come in a variety of colors! It also comes with a 90-minute swimming lesson with the Philippine Mermaid Swimming Academy who will teach you the four different strokes and breathing techniques that will help you swim easily even while wearing your mermaid tail. Don’t forget to snap photos of Ariel-inspired adventure!
Explore the wonders of Boracay Island’s marine abundant life through scuba diving. Whether you are a newbie or an experienced one, you will surely be awestruck at what lies beneath the blue waters of Boracay.
Swim through beautiful arrays of coral reefs while interacting with different marine animals. There are lots of dive resorts and shops that offer scuba diving equipment for rent. Don’t worry, you’ll get quick scuba diving lessons as a refresher before plunging in!
If you aren’t much of a fan of scuba diving, you can just try snorkeling. Fish out your snorkeling gear and head on to the snorkeling hotspots in the area!
This is another activity that will send the adrenaline coursing through your body. A watercraft is attached to a speedboat and is towed as the speedboat glides through the waters. Hang on tight while feeling the air (and water) on your face as this ride runs at a high speed! This ride usually lasts for 15-minutes.
Located at the east side of Boracay is the Bulabog Beach, which is known as one of the best kite boarding spots in Asia. It is a must-see spot for kite surfers, kiteboarders, and windsurfers. Lessons start at PHP 3,300 (Discovery Course) which typically lasts for 2 hours.
Feel the rush of the wind on your cheeks as you take in the breathtaking views of the whole Boracay Island while riding a parachute hundred feet in the air. Worry not as you will be provided with a life jacket and will be briefed shortly for your safety.
The island also has plenty of opportunities for relaxation and pampering, with luxurious spas and wellness centers offering massages and other treatments. For those looking to explore beyond the beaches, there are several nature trails, wildlife sanctuaries, and cultural sites to discover.
Finally, Boracay is known for its warm and welcoming people, who go out of their way to make visitors feel at home. The island has a laid-back and relaxed atmosphere that is perfect for unwinding and enjoying a stress-free vacation.
In conclusion, Boracay is a top tourist destination for several reasons. With its stunning beaches, vibrant nightlife, diverse range of activities and attractions, and welcoming local community, it’s easy to see why so many people from around the world choose to visit this beautiful island paradise. There’s one thing for certain, you will never run out of tourist attractions in Boracay to explore!
Imagine opening doors to crystal clear cerulean waters, stunning views of nature, and the warm inviting smiles of locals here at Boracay Island. Well, now you can with Costa Vista Boracay by Vista Residences!
Costa Vista Boracay is situated in an exclusive, undisturbed area at one of the highest points in Boracay Island. Spanning 5 hectares, it will be home to multi-tower mixed-use developments and also enjoys direct access to Punta Bunga Beach. Moreover, it is conveniently located close to a major highway, allowing for easy access to other locations around the island and nearby tourist attractions.
There are six storeys of residential units with smart home features and state-of-the-art security technology including CCTV surveillance throughout common areas. Each unit has been designed with efficient space planning and contemporary styling for maximum comfort.
Meanwhile, the development also has a pavilion with view deck as well as lounge pool, events hall and retail stores right by the hills of Punta Bunga Beach on the northern edge of the island. Residents can indulge in various activities such as boutique shopping or dining out while appreciating a beautiful sunset or taking a refreshing dip in the pool at dawn or dusk. Costa Vista Boracay invites you to experience your very own sanctuary in paradise.
Don’t let your Boracay vacation moments stay as memories! Start investing now at Costa Vista Boracay and discover what it feels like to live in a paradise inside a paradise!
Looking for an affordable property? Contact us today
A lot of Filipinos dream of owning their first apartment or house and lot. With today’s booming real estate opportunities, there are so many options to choose from.
Here at Vista Land International, we have a roster of affordable property listings from several locations across the country. Whether you’re looking for a place to live in Manila, Cebu, Davao and etc, we’ve got you covered. So contact our real estate agents today!
Vista Land International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vista Land International as a real estate professional and earn a commission!
Vista Land International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
All things considered, the Philippines is fortunate to have the water resources it has. However, climate change and growing populations are currently threatening the country’s water security, with supply shortfalls already appearing in different regions throughout the country.
Fortunately, there is some good news. With well-targeted investments in water infrastructure, Philippine-based communities can make the most of existing supplies and potentially conserve them for future generations. With a water-secure future, later generations can live a better tomorrow.
Here are just some of the long-term benefits of improving the country’s water supply, treatment, and distribution systems:
Clean water is a prerequisite for every single economic activity. While most of us only think about the water that comes out of the faucets in our bathrooms and kitchens, residential water usage is dwarfed by industrial, commercial, and agricultural consumption. Modern life as we know it would not be sustainable without sufficient water infrastructure capacity.
Water infrastructure also benefits economic activity in ways you might not have considered. Water-secure communities are much better positioned to secure investments and financing that could be used to generate local prosperity. Better water infrastructure also usually boosts property values and related commercial activity.
The LIMA Water Corporation at the LIMA Technology Center in Lipa City, Batangas, is proof that better water infrastructure makes a difference. The company’s modern water supply and waste management systems have allowed it to deliver end-to-end water and wastewater services for several multinational companies which decided to establish their base in the area. If more communities had access to similar water systems, it’s likely they may also be better placed to attract investments.
Access to clean water is a necessity for enjoying a better quality of life. As mentioned earlier, clean water is important for increasing economic activity — something that has a direct impact on the quality of life. However, it also has more direct impacts on the lives of people in a given area.
People living in areas that are water-poor or have aging water infrastructure are much more likely to be in contact with unsanitary water sources. These can have a serious negative impact on human health, particularly among infants, the elderly, and individuals with weak immune systems.
This, in turn, forces locals in affected areas to dedicate greater financial resources to healthcare and toward the disinfection of available water, or to obtain clean water sourced from outside the community. This effectively limits the income of locals and also forces them to spend time, effort, and money to achieve a similar quality of life to those living in an area with better water infrastructure.
With greater investment in better water infrastructure, individuals within the community can enjoy better water justice and they can collectively dedicate more resources to other activities such as business and leisure. In these ways, having better water infrastructure ultimately makes a community a more livable place.
It’s not just people who benefit from better water infrastructure. Improved water infrastructure ultimately lessens the impact on water tables and the ecosystems associated with them. This is because low-quality or aging water infrastructure tends to be highly inefficient. In other words, not all the water that is drawn from a source makes it to consumers.
A significant proportion of water drawn from locally available sources is often lost due to leaks and evaporation. This results in water supplies being depleted at a rate far faster than the actual demand, wreaking havoc on local ecosystems without significant benefit to communities. Additionally, these inefficiencies also make older water systems a disaster in terms of energy usage and greenhouse gas emissions per output.
It’s not just the systems that bring clean water to communities that we have to take care of. Sewage leaking from dilapidated water infrastructure can also be highly destructive to the environment, impacting local fauna and flora. These leaks may potentially harm local human populations as well, as polluted water often makes its way into the very supplies people use for everyday consumption.
Rebuilding obsolete water systems and building new ones to facilitate future demand will be key to protecting both the environment and communities’ water security. If we want our descendants to enjoy the Philippines’ wildlands, water infrastructure improvements need to be on the national agenda.
The main hindrance to the development of better water systems is, in large part, an awareness of the benefits. The benefits of major water infrastructure projects are not usually felt until after several years. This incentivizes the prioritization of other projects that have more immediate benefits to communities.
Unfortunately, this often results in aging water systems gradually becoming stretched far beyond their original design specifications, leading to a cascading list of serious issues. Illnesses, economic depression, and environmental hazards are all direct consequences of the deprioritization of water infrastructure.
For this reason, it’s important that all of the country’s stakeholders, including decision-makers and ordinary citizens, understand how improving water infrastructure will benefit their communities in the long term. By working together, we can all obtain a better, water-secure life for all Filipinos.
Looking for an affordable property? Contact us today
A lot of Filipinos dream of owning their first apartment or house and lot. With today’s booming real estate opportunities, there are so many options to choose from.
Here at Vistaland International, we have a roster of affordable property listings from several locations across the country. Whether you’re looking for a place to live in Manila, Cebu, Davao and etc, we’ve got you covered. So contact our real estate agents today!
Vistaland International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
Long regarded as modern day heroes, many people look up to Overseas Filipino Workers (OFWs) as paradigms of success. They go out of the country in search of better opportunities and higher wages while playing an important role in sustaining the country’s economy.
Oftentimes, you can find an OFW success story being featured in blogs, social media, or local news outlets, proving that there’s a promising future waiting ahead for those who persevere. But behind the glimmer of these success stories, is a life of an overseas worker far from being a fairy tale dream. Unbeknownst to many are the hardships and life challenges OFWs have to face while working abroad in exchange for turning their dreams into reality.
Filipinos are so tight-knit, that’s why it’s hard for our OFWs and migrant workers to be separated from their families and loved ones. And it’s even harder if they miss out on the special or important events like birthdays and graduations. They have to bear the pain of not seeing their children grow up just so they could provide a better life for them in return.
Luckily, through the advent of technology nowadays, just giving a quick video call to their loved ones will ease up the feeling of homesickness and makes the journey a bit bearable.
Problems within the family also arise like problematic in-laws who takes over the control of the household and financial aspects, spouses involving in extramarital affairs, and children going into rebellion mode because there’s no one to reprimand and watch over them.
These circumstances brings emotional and mental distress to OFWs on top of the stress they get from their respective job abroad.
Working in a foreign land, it’s not surprising that a lot of Filipinos get culture-shocked. They leave the familiar corners of their homeland and try to adapt to a new cultural and social environment. This may cause stress and anxiety if not addressed immediately in the right way. There are ways on how one can cope with culture shock, starting from keeping an open mind and taking time to get used to these changes.
It is known to us that the major reason why many Filipinos try their luck abroad is to earn big salaries enough to provide a better quality of life for their families and support children’s education. However, poor money management skills can lead to overspending and worse, huge debt. Here are some money mistakes OFWs should know and realize before it’s too late:
Many Filipinos skip checking in with the Philippine Overseas Employment Agency (POEA) and fall for the smooth-talking of illegal recruiters. This leads to unprotected employment, exposing the migrant worker to employer abuse and exploitation.
When you decide to go overseas, don’t ever skip out on verifying with POEA if your recruitment agency is illegal or not. This will save you time, money, and effort in the long run.
It’s one of the scariest (and we don’t mean to discourage you) things that could happen to someone who’s just searching for better opportunities in a foreign land. One unfortunate case was that of Pinay domestic worker Jakatia Pawa who was sentenced to death in 2017 after being accused of killing her employer’s daughter. Despite maintaining firm on her innocence and pleas from her family and the Philippine government, Pawa was still executed.
Jealousy, mistaken identity, or just finding someone to blame are the main culprits as to why OFWs are framed abroad.
In 2020, about 5,000 cases of maltreatment of Filipino migrant workers was recorded; 4,302 of these report came from the Middle East. The abuse comes in physical, mental, and sexual forms, and even racial discrimination from their own employers.
Despite the government’s efforts, abuse and exploitation are still rampant in foreign countries, especially if there are no authorities keeping an eye on and protecting our modern day heroes from abusive employers inside the confinements of their homes.
If you ever found yourself caught up in such situation, don’t be afraid to ask for help from Overseas Workers Welfare Association (OWWA), the nearest Philippine embassy, or you could even reach out to the Filipino community in your host country.
When the war between Russia and Ukraine broke out, a lot of migrant Filipino workers are repatriated for their safety. Two years prior, the world suffered from the threats of the COVID-19 virus. Unstable political situations, global health outbreaks, and natural calamities may also affect Filipino workers abroad. They may find themselves getting caught up in the middle of protests or their lodgings destroyed by typhoons or earthquakes.
Cases like these are beyond the OFW’s control and are not easy to predict that’s why disaster preparedness and awareness are extremely crucial and handy in such turbulent times.
We all know that feeling of excitement when receiving balikbayan boxes. They are big boxes aimed to bring delight and wonder to every member of the family. But that’s not always the case.
Family members sometimes get caught up in disputes on who’s going to receive specific items and don’t forget about your neighbor expecting something from you, too.
Better yet write or put sticky notes with the receiver’s name on the gift to avoid such alterations. It’s also handy to search or ask the Filipino communities online which cargo forwarders are reliable to ensure that your parcel will get taken care of and delivered.
Every Overseas Filipino Worker has a story to tell– the life challenges and experiences they go through abroad. But sometimes, they prefer to put on a big smile to hide all their hardships and carry on with the burden of not wanting their loved ones to worry. However, in order to find solutions to a problem, we have to acknowledge its existence first.
The life challenges and experiences of Overseas Filipino Workers included in this list are just some of the few risks that come with the decision of working abroad. While experiences may vary from one foreign worker to another, it is undeniable that these things do happen. Preparedness and sticking to what is right will surely make a huge difference in overcoming them.
Looking for an affordable property? Contact us today
A lot of Filipinos dream of owning their first apartment or house and lot. With today’s booming real estate opportunities, there are so many options to choose from.
Here at Vistaland International, we have a roster of affordable property listings from several locations across the country. Whether you’re looking for a place to live in Manila, Cebu, Davao and etc, we’ve got you covered. So contact our real estate agents today!
Vistaland International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
We’re here to tell you about PAG IBIG loans for Overseas Filipino Workers (aside from housing loans, of course!)
When it comes to housing loans, probably the first thing that comes into your mind is the Home Development Mutual Fund (HDMF). More commonly known as PAG IBIG (Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno), this agency is the government’s answer to the call for a national savings program as well as providing affordable shelter for Filipinos.
Perhaps, when planning to buy a new home or renovate your current one, you’ve probably considered applying for a PAG IBIG housing loan–which is a good decision by the way as this government-owned housing finance agency offers affordable home loans with flexible payment schemes.
But other than housing loans, do you know that PAG IBIG fund also offers other types of loans that can cater to every Overseas Filipino Workers (OFWs) financial needs?
So, buckle up as we take a look at the PAG IBIG loans OFWs like you can easily avail!
When it comes to loans offered by PAG IBIG fund, you are probably most familiar with this one. But as a refresher, we will be taking another look at how you can apply for a PAG IBIG housing loan.
You are just six steps away from owning your dream home through the PAG IBIG housing loan. And what’s more is that you can borrow up to six million pesos, enough to kick start your home buying journey. The maximum payment period is thirty (30) years.
PAG IBIG Housing loan eligibility
PAG IBIG housing loan requirements for OFWs
OFWs wishing to avail of the PAG IBIG housing loan should submit the following documents:
After you have successfully acquired all the necessary documents, you can head on to the nearest PAG IBIG branch or to their main office where you will be assisted by a PAG IBIG personnel and also pay a nonrefundable processing fee of PHP 1,000.
Now, we’re reminding you that you will be needing a lot of patience because it will take more or less 20 days for PAG IBIG to process your application.
Through the PAG IBIG Home Equity Appreciation Loan (HEAL), OFWs can apply for a loan based on the net value of their mortgaged property to fund their needs. This loan is applicable to borrowers who had maintained a good standing and paid their loan and mortgage agreement on time.
PAG IBIG HEAL eligibility:
To further check if you are eligible for the PAG IBIG HEAL, simply go to Virtual PAG IBIG, click Apply for and Manage Loans and type in your PAG IBIG Housing account number (HAN) and other needed information.
If PAG IBIG deems that you are qualified, you will be required to upload documents which are as follows:
PAG IBIG Heal Requirements for OFWs:
After uploading the necessary documents, you can now pay the processing fee through the Virtual PAG IBIG or accredited collecting partners.
You will get a notification via text or email once your Notice of Approval and loan documents are all available in the Virtual PAG IBIG portal. This also means that your application is deemed complete by PAG IBIG.
And the last step, download and print your post approval documents and submit them to the nearest designated PAG IBIG office. Don’t forget to sign and notarize your post approval documents.
If you wish to skip the online process, you can also opt to head on to the nearest PAG IBIG branch in your area.
Though primarily intended for locally-employed minimum wage or low-income earners, OFWs can also avail of this loan. This loan offers as low as PHP 2,445.30 monthly payment within a 30-year term.
The OFW eligibility and requirements for the housing loan for minimum wage earners are the same as applying with the housing loan requirements stated above.
OFWs who are in need of quick or emergency cash apply for the PAG IBIG Multipurpose Loan. Part of the Short Term Loan program, it is designed to provide immediate financial assistance to qualified members.
Members can borrow up to 80% of their PAG IBIG regular savings, with a processing term of only two days.
The procedure is as easy as submitting a duly accomplished Multi-purpose Loan application form, together with a valid ID, and your proof of income. Upon confirmation of your application, get your STL Acknowledgement Receipt and wait for the date to claim your loan proceeds.
A photocopy of the payroll account or disbursement card will be required for loan proceeds through the payroll account or disbursement card. If the application was done through the employer, the employer is the one responsible for the acquisition and certification of the documents.
Similar to the MPL, the PAG IBIG calamity loan provides immediate financial assistance who are affected by natural disasters or those who reside in areas under a state of calamity. This loan is payable within 24 or 36 months, has a deferred first payment, and has an annual interest of 5.95%.
Submit your Multi-purpose Loan application form, together with a valid ID, and your proof of income, get your STL Acknowledgement Receipt and wait for the release of your loan proceeds.
If the MPL or Calamity Loan application were submitted via a representative, an authorization letter together with a valid ID of both parties is required, aside from the primary documents.
In lieu of the Republic Act No. 9679, our OFWs have been covered by the PAG IBIG since 2009. Through PAG IBIG’s partnership with the Philippine Overseas Employment Administration (POEA), payment contributions are made easier for our modern day heroes.
OFWs were also able to enjoy savings with dividend earnings, short term cash loans, and affordable housing loans through this joint venture.
By knowing all the available loans OFWs and migrant workers can apply for, they are sure that their PAG IBIG membership won’t be put to waste. We all know how big of an impact our OFWs to the socioeconomic growth of the country because of their remittances alone. Through these services, our OFWs are rest assured that have something to lean on during times of need or if the time comes when they decide to purchase a new property. So, the next time you are thinking of applying for a loan, don’t forget to check out this list of PAG IBIG loans for Overseas Filipino Workers.
Looking for an affordable property? Contact us today
A lot of Filipinos dream of owning their first apartment or house and lot. With today’s booming real estate opportunities, there are so many options to choose from.
Here at Vistaland International, we have a roster of affordable property listings from several locations across the country. Whether you’re looking for a place to live in Manila, Cebu, Davao and etc, we’ve got you covered. So contact our real estate agents today!
Vista Land International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vista Land International as a real estate professional and earn a commission!
Sending a balikbayan box has been a tradition among Overseas Filipino Workers (OFWs) and migrant workers. Balikbayan boxes are huge cardboard boxes that OFWs fill with lots of goodies and stuff to be sent back to their families left here in the Philippines. Aside from money remittances, balikbayan boxes are also one of the much-awaited gifts from OFWs.
And since Christmas is coming closer (soon enough it’ll be knocking at our doors in no time), it is for certain that our OFWs and migrant workers are now quickening their pace in filling up these balikbayan boxes to be sent and received just in time for the holiday season!
Here’s a list of balikbayan box gift ideas to surprise your family this Yuletide season!
What is a balikbayan box without chocolates and sweets? Chocolates and sweets are regulars inside a balikbayan box. Though brands like Hershey’s, M&M’s, Toblerone, and Mars are considered cheap commodity and are usually put up on sale in grocery stores abroad, they are already considered as a luxury here in the Philippines. Also, Filipinos in general have a sweet tooth, so including chocolates and sweets inside your balikbayan box will surely put a sweet smile on your friends and families upon opening them!
Aside from sweets, only stuffed toys and other games will surely bring delight to your children’s faces and other kids. There’s a wide array of options to choose from like remote control cars, robots, or interactive toys to include in your cargo freight. Educational toys like jigsaw puzzles, chemistry sets, or musical instruments are perfect, too!
Some models of popular brands like Nike and Skechers aren’t locally available that’s why a lot of children are requesting these items when asked what kind of pasalubong they want. It can give a significant boost to their self-esteem when they wear it to school.
Give your usual mackerel and sardines an upgrade by chipping in imported corned beef, luncheon meat, sausages, and spreads!
And even though some foreign biscuits, jams, condiments, and chips are locally available in grocery stores under the imported goods section, the thought and effort of including them in your balikbayan box (even if that entails paying for a higher shipment weight) adds more touches of love!
Other stuff to include inside your balikbayan box are the latest gadgets in the market and the best kitchen appliances out there. Make sure to cover them in bubble wrap so these electronics will reach your loved ones in the best condition!
The pandemic has highlighted the importance of taking good care of your health. It’s a very good idea to include medicines, vitamins, and other health supplements to show your loved ones how much you care for them.
From body products, baby lotions, and liquid items to flower vases, shoe racks, picture frames, and even kitchen utensils, there’s a whole lot more to include inside your balikbayan box! For sure, there’s a friend or relative that will appreciate your gifts!
Although we want to keep the spirit of giving alive by filling up balikbayan boxes with goods and stuff up to the brim, do you know that there are items that you shouldn’t put inside? Here’s a list of prohibited items you should watch out for when you send balikbayan boxes according to the Bureau of Customs.
Other restricted items include toxic chemicals, paints, lubricants, automobile parts, ceramic tableware, plant and plant soil, pet food, gasoline-operated machines, and perishable goods such as rice, meats, and fruits.
And no! You can’t send money through balikbayan boxes! Better yet to transfer your hard-earned money through accredited remittance centers in the Philippines!
According to the Bureau of Customs, the Balikbayan Box Privilege allows qualified OFWs to send balikbayan boxes that are tax and duty free, granted that the items would not exceed PHP 150,000 in total value and must only consist of personal and household effects, meaning the items should be of personal or household use only, and should not be sold commercially. Sending items above the commercial quantity is also prohibited.
Filipinos working abroad can avail of the Balikbayan Box Privilege for a maximum of three (3) shipments per calendar year.
Additionally, there are no limits on many times OFWs want to send the shipment. However, exceeding the maximum allowable quantity or value will be subject to duty and importation tax.
To prevent this from happening, one good rule of thumb to remember is no more than 20 items for each kind of consumable good and no more than 5 items for each kind of non-consumable good.
OFWs are required to fill out a balikbayan information sheet before sending out their parcel for delivery. This sheet will ensure that whatever they put inside your balikbayan box is the same stuff that their immediate family will open when the shipment arrives in the Philippines.
Usually, the chosen cargo company will provide the inventory for OFWs, but if they want to do the listing themselves, they can also download the form through this link.
OFWs will need three copies of this form: one to be attached to the balikbayan box, one for the Consolidator or shipment company, and the last will serve as their personal copy.
A photocopy of their passport showing their personal details will be required as well as the receipt of the valuable goods. For dual citizens, kindly include a copy of their foreign passport revealing their personal details.
Balikbayan boxes are solid proof of OFWs’ hardships overseas. But more than just cardboard box filled with random stuff; it is a magical box filled with gifts carefully selected by them to put a smile on the people most important to them.
Looking for an affordable property? Contact us today
A lot of Filipinos dream of owning their first apartment or house and lot. With today’s booming real estate opportunities, there are so many options to choose from.
Here at Vistaland International, we have a roster of affordable property listings from several locations across the country. Whether you’re looking for a place to live in Manila, Cebu, Davao and etc, we’ve got you covered. So contact our real estate agents today!
Vistaland International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
What are some visa free countries for Filipinos?
If travelling feels foreign to you right now, don’t worry because you’re not alone with other people who had planned their future travels during the lockdown and quarantine periods. The loss in global GDP is around $2 million alone in 2020 when the pandemic hit worldwide according to the World Tourism Organization (and believe us when we say that revenge travelling may be the best answer). Many people renewed their passports and visas because a majority of these have expired over the course of the pandemic. Since then, a lot of countries have opened their boundaries from 2021 all the way to this year to make their travel plans happen.
If you’re having trouble finding some countries that require you to have a visa and some that don’t, here are some visa free countries that Philippine passport holders can tick off their bucket lists so that you can enjoy these countries too and let your wanderlust self be refreshed with new sights to see and experience!
A visa is an endorsement that is made by a travel consular officer at the Philippine Embassy or at a Consulate abroad. It permits a person to enter a country with various expiration dates that may last for 10 days, 30 days, 60 days, or longer. Visa requirements are different for each country, and once it expires, you can’t stay in that particular country legally. In some countries, a transit visa, business visa, student visa, or employment visa might be needed, whether it’s an online visa or a physical visa.
In the case of entering the Philippines, foreigners may avail of a visa for a short visit while people that fall into the Balikbayan group, who are dual citizens, who have permanent visas or residences such as a Schengen visa, and who are China and Hongkong passport holders may have various visa free days that are from 9 days up to a year.
Travelling to visa free countries are eligible for people to apply for a Visa on Arrival for more than thirty countries or an online visa for fifty more countries, giving a total of 80 countries that don’t need a visa and other bureaucratic procedures at different embassies to enter the countries you want to visit. All you need to do is show your valid passport and ticket to the immigration officers, and you’re good to go — unless you’re planning to stay for a longer time.
Brunei
Proclaimed as the most devoutly Islamic country in all of Southeast Asia, Brunei boasts of being independent with being rich with oil and several stunning mosques, making it a visa free destination for those who are Muslim devouts. You can also find visitors who are dressed appropriately to enter these mosques when their Islamic prayer times are over.
Filipinos can enjoy and explore Brunei for 14 days without a visa. However, if you plan to stay for a longer time (approximately for months), the Bruneian government can ask you to apply for a visa that you can get at the Brunei Embassy.
Here are other visa free countries in Asia as well as the allowed duration of stay without a visa:
Armenia*
Being the nation that first embraced Christianity, Filipinos can wows their eyes in Armenia’s spectacular churches such as Noravank Monastery, Khor Virap Monastery, and Echimiazin Armenian Apostolic Church for as long as 120 days.
Here are other visa free countries where you can stay in Africa and the allowed duration period of stay without a visa:
Cape Verde Islands*
Perfect for travelers who are seeking exciting and rewarding adventures, Cape Verde Islands top the visa free countries list as a perfect visa free destination for people who like to do some outdoor activities such as horseback riding and quad biking while sightseeing. If you like to hit the water, you can go to Boa Vista and Sal Islands for a relaxing dip into their crystal clear waters.
Here are other visa free countries where you can stay in Africa and the allowed duration period of stay without a visa:
Brazil
To make your visa free countries list even more interesting, you should include Brazil in it because it’s home to seven natural and 14 cultural UNESCO World Heritage Sites. It isn’t required to get a tourist visa for Filipino citizens. However, it’s good to know that the longest that you can stay in Brazil without a visa is three months and you need to check out Globe’s reliable travel SIM to stay connected with your family and friends while you’re in Brazil.
Here are other visa free countries that you can visit in America and the allowed duration of stay without a visa:
Tuvalu*
With a population of 11,192 people, Tuvalu has one of the most lenient visa policies, making it one of the most perfect visa free destinations for Filipinos to travel. Philippine passport holders can stay in this hidden paradise for up to a month to enjoy its tranquility and serene views.
Here are other visa free countries that you can visit in Oceania and the allowed duration of stay without a visa:
A visa on arrival means that visitors can apply for a visa when they arrive in the country itself. You don’t need to apply for a visa in advance once you’re travelling to a visa free country in your home embassy, although sometimes you need to apply online first.
It depends on the country that you’re arriving to, but you usually need some documents to prove that you have the financial means to support your trip, will leave the country before your visa expires such as your return/onward flight ticket, a place for your accommodation, and a travel insurance to the immigration officers. after you’ve landed and before you travel. It may take a few hours, but it’s better than waiting for weeks.
ETAs may be required by some foreign countries to effectively screen visa-exempted foreigners. This is done to enhance their visibility and security.
Between being safe and living your life, travelling to those following countries that don’t need a visa should get you started in trotting around the globe again as the pandemic restrictions have been lifted and more people are getting out of the country to help the tourism industry grow.
Nonetheless, you should prepare your Philippine passport (or any passport that you have), some documents to present to the immigration officers, itinerary, tickets, and electronic visas, and follow the added pre – flight and post – flight protocols. Whether you’re travelling with a bunch of people or by yourself, it’s also important to stay safe during your visa free travel and enjoy refreshing yourself with new sights to see and experience (and food to try)!
Whether you’re travelling for personal or business purposes, you can visit visa free countries anytime! All you need to do is apply for a visitor visa or a visa on arrival when you arrive at your destination or prepare some electronic visas along with an electronic travel authorization, an entry clearance, and some documents that you need and you’re good to go!
Looking for an affordable property? Contact us today
A lot of Filipinos dream of owning their first apartment or house and lot. With today’s booming real estate opportunities, there are so many options to choose from.
Here at Vistaland International, we have a roster of affordable property listings from several locations across the country. Whether you’re looking for a place to live in Manila, Cebu, Davao and etc, we’ve got you covered. So contact our real estate agents today!
Vistaland International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
It’s a great deal if you can find a place with lower costs of living without having to sacrifice the quality of life in that particular area.
Luckily enough, the Philippines, a developing country in Southeast Asia, has a lower cost of living compared to other countries. Whether you are a returning OFW or Filipino migrant worker, a foreigner wanting to stay in the beautiful islands of the Pearl of the Orient, or a local wishing to wake up to new surroundings, you can easily find a place to stay in the Philippines!
So lock and load because we’ll be taking a closer look at the cheapest cities to live in the Philippines!
Dubbed as the Safest City in the Philippines, Davao City takes the first spot on our list. This first-class, highly-urbanized city lies in the Davao Del Sur province in Mindanao.
Davao City is the largest city in the Philippines in terms of landmass and the third most populous city in the country, just trailing behind Quezon City and Metro Manila. Aside from being one of the safest cities to live in, it was also hailed as the first 100% smoke-free metropolitan in the Association of Southeast Asian Nations (ASEAN) Region.
Enjoy the perfect mix of nature and urbanization here at Davao. As a growing and highly regulated city bustling with economic activities, you can enjoy modern and world-class amenities, healthcare institutions, retail strips, and recreational hubs in the city center all the while being minutes away from nature, like Mt. Apo, the Philippines’ highest mountain.
Moving up a bit to the Visayan Region and we can find another first-class city famous for its colorful festivals and dried mangoes. Cebu City, also known as the Queen City of the South is bordered by Balamban and Danao City in the north, the city of Toledo in the west, Talisay City in the south, and on its eastern part lies the cities of Lapu-lapu and Mandaue.
Being the core city of Metro Cebu and the regional center of Central Visayas, Cebu City has all of the comforts of an urbanized city– first-class amenities, top-notch educational institutions, and high quality healthcare less the congestion and traffic you usually experience in the National Capital Region. Plus, Cebu City offers a lot of employment due to its continued economical growth.
Rental prices in Cebu City are one of the most expensive on this list, but you can still negotiate prices with the right talk! Get to experience Cebu City life by owning a condominium unit in Suarez Residences Cebu by Vista Residences!
Known as the City of Smiles, Bacolod City is the capital city of Negros Occidental and serves as the communication and trade center of the province, alongside its twin province, Negros Oriental. As of writing, its population is estimated to be more than half a million.
Right now, Bacolod City has a growing Information Technology (IT) and Business Process Outsourcing (BPO) industry, so if you have a particular interest in those fields then you can find a lot of employment and career opportunities in the city. Awarded as the ‘Most Business-Friendly City Outside of Metro Manila,’ the city is also a perfect candidate for investors and entrepreneurs for a new enterprise venture.
The cost of living in Bacolod City is remarkably low, but with the continuous progression and enhancements, the average monthly rent will likely rise up. Still, even with you can live a comfortable life here in Bacolod City without cutting much off your monthly budget!
Tarlac City is one of the least populous cities on this list, having only a total of 385, 398 residents according to the 2020 census, making it an ideal place to stay for those who wanted to escape the crowded streets of the Metro.
Tarlac City offers the perfect balance of the city and suburban life with its farmlands and vast rice and sugar plantations surrounding the city. It is also near McArthur Highway, so going in and out of the city center isn’t that much of a hassle. Adding to its charm are the various historical sites and fine local foods which will surely make you want to stay in the quaint city.
Shopping malls, leisure hubs, healthcare facilities, educational institutions, and other urban conveniences are easily accessible. Even with a minimum wage, you can still live comfortably and peacefully here in Tarlac City!
Dumaguete City is situated in the province of Negros Oriental. Its laid-back atmosphere and friendly locals earned its nickname the City of Gentle People. With four universities and various colleges located in the town (with Silliman University being the most popular), the city became a hotspot for students from neighboring cities and provinces.
Aside from the abundance of top-notch educational institutions, medical facilities and commercial can also be found in the city.
You can easily land a one bedroom apartment here in Dumaguete City at a very low monthly cost.
We all know that Baguio City is a very popular summer destination, hence the nickname Summer Capital of the Philippines, but it is also slowly becoming a hotspot for tourists and locals alike to settle down.
Aside from its cool climate, low cost food due to its rich agricultural sector, modern infrastructures, and top-notch educational institutions are some of the reasons why Baguio City is booming in popularity among property buyers.
Located in the Western Visayan Region, Iloilo City is dubbed as the City of Love due to its sweet and gentle locals. Iloilo houses the second most important seaport in the Visayan Region as well as an international airport, so traveling in and out of the city as well as in the nearby provinces is very easy!
It also has high-quality medical facilities, educational facilities, and opportunities for commerce and trade. The BPO industry is slowly booming within the region, providing career and business opportunities.
They say that living in one of the major cities can be quite expensive, but not in Quezon City! Albeit being one of the most populous cities in the country, Quezon City makes it into the list! Located within the cradle of the National Capital Region, the cost of living in QC is surprisingly cheap. Choose from a wide array of housing options with reasonable rental costs. And since it’s a major city, access to local markets, public transport, as well as recreational hubs is as easy as walking a couple of minutes to a nearby retail establishment!
Transportation costs are also slightly lower as you have easier access to major thoroughfares like the Manila Metro Rail System (MRT), Light Rail Transit (LRT), and various bus stations with different provincial routes.
With an average salary ranging from PHP 23,000 to PHP 26,000, you can live with ease here at Quezon City!
It can be enticing to move seeing all the cheapest cities and options mentioned above. However, before you go pack your things up and leave, make sure to save money or have enough credit on your card. Finding the perfect place that suits your lifestyle and career needs may take some time, so it’s best if you are prepared enough about what’s there to come.
As for finding properties to settle down in these cities, let Vistaland International help you! Choose from our wide array of property options, depending on your need and budget. From affordable house and lots to cozy condominium units, Vistaland International has it all for you! We will make living in the Philippines the best experience for you! Start investing now!
Looking for an affordable property? Contact us today
A lot of Filipinos dream of owning their first apartment or house and lot. With today’s booming real estate opportunities, there are so many options to choose from.
Here at Vistaland International, we have a roster of affordable property listings from several locations across the country. Whether you’re looking for a place to live in Manila, Cebu, Davao and etc, we’ve got you covered. So contact our real estate agents today!
Vistaland International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
As a way to show their support for the digitalization of retail payments in the country, the Bangko Sentral ng Pilipinas (BSP) finally granted Certificates of Authority to two finance giants UnionDigital Bank Inc. (UDB) and GoTyme Bank Corporation (GTYME) last July 12 and 19.
These two lenders are the latest additions to the county’s current roster of digital banks, joining other lenders like Overseas Filipino Bank (OFBDB), Tonik Digital Bank, Inc. (TONDB), Maya Bank Inc. (MAYA), and UNO Digital Bank, Inc. (UBI), who got their COAs in the first quarter of the year.
The said digital banking license enables these banks to fully operate and offer their digital banking services in the country. However, it seems like we won’t be welcoming any new digital banks in the future as the BSP stopped receiving digital bank license applications last August 31.
With the emergence of digital banks in the Philippines, BSP hopes that it will convert 50% of traditional retail transactions to digital and will increase the number of working adults with bank accounts to 70% by the year 2023.
Before we go take a closer look at these digital banks, let’s define first, what is digital banking.
Combine online banking and mobile banking and you’ll get digital banking. That simple.
But not to be confused with the technical terms, let’s break down mobile banking and online banking even more.
In simple terms, online banking is when you access a bank’s services and features at home via your computer or laptop. These online transactions may include account balance checks, bills payment, and fund transfers.
The premise of mobile banking is somewhat similar. But instead of using a laptop to log in to their online banking portal, you’ll find your way through their proprietary mobile apps instead.
While mobile and online banking generally makes up the umbrella of digital banking, it encompasses all the traditional banks‘ services, from the front end up to the back end. This means that these digital only banks make use of artificial intelligence to operate from the front-end up to the back-end, from onboarding, servicing, and closing of clients’ accounts, including data processing and other administrative operations.
This means that aside from the usual account balance checking, bills payment, and other online banking services, customers can now easily open savings accounts and apply for personal loans, credit cards, and set personalized financial goals, and access other money management services.
And unlike traditional banks, digital banks operate even in the absence of physical branches. This is one of the primary objectives of digital banking–to let clients maximize their features and services remotely, eliminating the need to travel to reach a particular bank branch.
Officially launched back in 2018, Overseas Filipino Bank or simply OFBank officially got its digital bank license last March 25th, 2022. It is the first digital bank in the country and is a subsidiary of the government-owned Land Bank of the Philippines.
Forged to address the needs and support Overseas Filipino Workers (OFWs) and migrant Filipinos, OFBank offers financial products and services aligned to their requirements and personal goals.
For instance, OFBanks allows the creation of a mobile savings account with no minimum initial deposit through Digital Onboarding System with Artificial Intelligence (DOBSAI) on supported Android and Apple devices.
It also allows its users to transfer funds and remittances, pay bills, apply for multi purpose loans and offers physical debit cards. It has a service interest rate of 0.10% per annum with no required maintaining balance.
One of the pioneers of financial technology, this Singapore-based lender sets itself apart as being the first neobank in Southeast Asia. Prying away from its contenders like ING and CIMB Bank PH, Tonik doesn’t have any physical branch and fully operates digitally.
Since its an internet-only bank, Tonik operates under minimal operating costs. Their financial products include time deposits and Stash accounts.
Clients can open up to 5 deposit savings accounts and 5 Stash accounts–which can be either Solo or Group. Interest earnings in a Solo Stash account can grow up to 4% per annum. Whereas in a Group Stash account, which you can share with your peers or family members, interest rate is at 4.5% per year. Time deposit accounts can earn up to 6% interest rate per annum.
Though it fully operates digitally, Tonik offers physical debit cards in which they will charge you PHP300 for the production and delivery fee.
For their users’ security and peace of mind, their app is equipped with Face ID security and lock card features. Tonik Bank got its COA last June 3rd, 2021.
Your all-in-one money app Paymaya has fully transformed into a full-fledged digital bank and is now known as Maya Bank Inc.
Maya Bank offers fully digital banking service such as creating deposit and credit accounts, access to cryptocurrencies, load and bill payments all the while still enjoying the deals and promos of PayMaya app.
It has a 6% interest rate per annum with no required initial deposit. Just like OFBank and Tonik, Maya Bank also offers physical debit cards.
As of writing, Maya Bank caters to 35 million Filipinos and has 250,000 digital touchpoints nationwide.
Formerly known as UNOBank, UNO Digital Bank got its digital banking license last June 3rd, 2021. As per their website, UNO Digital Bank features high interest rates on savings, an immediate virtual debit card, a pre-approved dynamic credit line, and no hidden fees.
Their AI-first approach allows fast account setup, client onboarding, and authentication through facial recognition and uses machine learning to further provide users with a more streamlined and personalized digital banking experience.
A subsidiary of Union Bank of the Philippines, UnionDigital is one of the popular digital banks in the country.
A proud receiver of the Best Digital Bank award for three consecutive years among other recognitions, UnionDigital best exhibited that traditional banks can transition seamlessly into digital banking.
Since it initially started as a traditional commercial bank, its users still have the option to visit physical branches or utilize all their banking services online or through the app. Just like other digital banks, it offers services like account balance check, fund transfers via InstaPay, savings accounts, and time deposits.
Their Personal and Regular Savings accounts require no initial deposit and can enjoy an interest rate of 0.10% per annum. However, you will need a maintaining balance of PHP10,000 to earn interest in the personal account and a PHP25,000 maintaining balance for the regular savings account.
Customers can also avail of other products and services like auto loans, home loans, and quick loans.
GoTyme Bank Corporation is the result of the partnership of the Gokongwei Group and Tyme, a digital banking giant based in Singapore.
Client onboarding is done either through their app or digital kiosks located in malls owned by the Gokongwei group. GoTyme boasts of account and card creation in under 5 minutes, conversion of reward points into peso, and serves as a safe and secure avenue for investments and financial growth.
Customers who have concerns or queries can reach them via call, chat, or e-mail through their 24/7 customer support or via in-store ambassadors.
The rise of digital banks in the Philippines proved that our country can be at par with our neighboring Southeast Asian countries when it comes to adapting to enhancements and innovation within the financial sector. Additional digital banks are expected in the future, with the anticipation of awarding more digital banking licenses in the future, creating a financially well-versed community that isn’t shying away from trying innovations like online banks.
In choosing the best digital bank for you, it’s best to learn about the features and the background of the bank itself first before diving into the digital banking waters. Each digital bank has its set of features and products, but what pulls them apart from one another is its ability to deliver these promises, allowing its customer to fully maximize the benefits of financial technology.
We hope that through this article, you’ve familiarized yourself with the Philippines’ digital banks and their services. Take your first step towards effective money management today!
Looking for an affordable property? Contact us today
A lot of Filipinos dream of owning their first apartment or house and lot. With today’s booming real estate opportunities, there are so many options to choose from.
Here at Vistaland International, we have a roster of affordable property listings from several locations across the country. Whether you’re looking for a place to live in Manila, Cebu, Davao and etc, we’ve got you covered. So contact our real estate agents today!
Vistaland International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
Owning a house and lot or a condominium unit is a dream come true for many. It can be regarded as your ‘trophy’ in exchange for your hard work and effort. Everyone dreams of owning a property someday.
But before you get the keys to opening the doors of your dream home, you still need to undergo through the whole home buying process, and that includes acquiring all the necessary documents and papers to own the property legally.
Now that we’ve mentioned the important documents, today we’ll be looking at the two common fine prints you might hear or encounter during a real estate transaction– the contract to sell and contract of sale.
At first glance, it might not be obvious to determine the difference between the two. In fact, some people use them interchangeably, thinking that they are the same at all. However, there’s a huge difference in terms of meaning and effect that you need to take note of.
Read on through the article to distinguish the difference between the two and why it is important for you to know such!
In essence, a contract to sell is a bilateral contract wherein the seller agrees to sell something to the prospective buyer while the buyer promises to buy it. Simple right? However, there’s a catch.
Even though the prospective seller explicitly reserves the ownership or transfer title to his prospective buyer, the vendor loses ownership the moment the buyer has fulfilled his or her obligations, which in this case, is the full payment of the purchase price, and not during the signing of the contract.
Once the contract to sell is signed, that’s when the obligation of both parties commences. Note that the seller isn’t obligated to transfer ownership of said property right away nor does the buyer has to pay the purchase price in full at the beginning of the contract. What’s important is both parties are able to fulfill their obligations at the end of their agreed bargain period.
Upon completion of the bargaining conditions, it is the prospective seller’s obligation to transfer ownership to the buyer.
In real estate transactions, conditions stated in a contract to sell may include the following:
To better understand the context, let’s take a pre-selling condominium unit as an example. In this agreement, the property developer agrees to reserve the subject property to the buyer while the buyer consents to pay the total purchase price via installments or in full. The condominium should be built in completion and the full payment of the price should happen first before a transfer of ownership can occur.
A contract to sell is somehow similar to a conditional sale or conditional contract– transfer of ownership will not commence unless there is a fulfillment of suspensive conditions.
Similarly, a contract of sale is an agreement between the seller and the buyer where the seller reserves the goods or property exclusively for the buyer. However, in this kind of agreement, the ownership thereto automatically transfers upon the delivery of goods. The seller sells, the buyer pays, and the transfer of ownership commences.
However, the seller and buyer may enter into a type of agreement wherein the seller transfers ownership of a property even if the buyer hasn’t completed full payment of the purchase price. This is called resolutory condition. In the event that the buyer fails to fulfill his end of the agreement, the seller has the right to take back his personal property.
In real estate transactions, a contract of sale is usually issued when the buyer is ready to pay the full purchase price and the property is ready to be turned over by the seller.
The simplest answer is no.
While it’s very easy to mix or interchange these two documents, it’s important for both the property seller and buyer to know their difference to avoid discrepancies and disputes.
To summarize, signing a contract to sell doesn’t automatically transfer ownership. The bargaining conditions of the contracting parties should be fulfilled first. Whereas in a contract of sale, ownership is automatically transferred upon its signing or execution.
And since we’re talking about the fine prints of real estate transactions, let’s chip in the deed of absolute sale.
Provided that the bargaining conditions have been fulfilled by both of the contracting parties, the property seller has to convey title to the buyer by partaking in a deed of absolute sale.
In a real estate transaction, a deed of absolute sale states that the seller transfers property ownership rights to the buyer and the buyer has now the right to utilize the property by his own means! In a deed of sale, there is an act of finality in the real estate transaction.
The deed of sale should contain, of course, the name and address of the buyer and the seller, the definitive features of the property, and the date and filing of the said contract. It should be signed by both of the contracting parties in front of a notary public to be deemed as valid.
This document also protects both the buyer and seller the moment a discrepancy or disagreements arise in the property in the future.
Consider it as an unwritten rule to read the documents handed out to you before signing anything. But, when you have a piece of prior knowledge about the fine prints of the transaction, you’ll already know what you’re getting into upon looking at the title of the document
There are buyers who think that they already own the property after signing a contract to sell, even if they haven’t paid the purchase price in full, and may demand for the transfer title already. During cases like this, disputes may arise. Knowing the purpose of these documents beforehand prevents such unwanted events.
The home buying process isn’t as simple and straightforward as someone may think. Aside from finding an affordable house and lot or condominium unit in the most strategic locations, you still have legal obligations and documents that you need to fulfill.
While it is beneficial to equip yourself with the knowledge and basics of the home buying process, finding a reputable real estate agent to guide you through the whole process or a real estate attorney to assist you on the legal side is a great decision as well.
After all, you are dealing with a hefty sum of money so it won’t hurt to find someone who is knowledgeable enough to ensure that every transaction is done successfully and under legal terms.
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