BPI Personal Loan
|Product Name:||BPI Personal Loan|
|Minimum amount of loan:||PHP20,000.00|
|Maximum amount of loan:||PHP1,000,000.00|
|Minimum loan tenure:||12 months|
|Maximum loan tenure:||36 months|
Eligibility and Requirements
|Age range of borrower:||21-60 years old|
|Minimum annual income:||PHP300,000.00|
|Income requirement remarks:|
|Employment / work status:||Permanent Employee for 1 year / 2 years business operations for Self-employed / 2 years of practice for Professionals / Government Employee for 1 year|
|Borrower has to have credit card:||NO|
|Need to open linked bank account:||YES|
Application and Approval
|Approval duration:||5 to 7 days|
|Approval duration remarks:|
Fees and Charges/Penalties
|Loan processing and dispersal fees:||PHP 1500 dispersal fee|
|Early repayment penalty:||Free early pay-off|
|Late payment penalty:||5% per month on any outstanding balance|
Interest Rates Offered
|Product Name:||Interest rate||Effective interest rate||Interest type|
|BPI Personal Loan - 12 months||1.20% -1.20%||fixed Interest Rate|
|BPI Personal Loan - 18 months||1.20% -1.20%||fixed Interest Rate|
|BPI Personal Loan - 24 months||1.20% -1.20%||fixed Interest Rate|
|BPI Personal Loan - 30 months||1.20% -1.20%||fixed Interest Rate|
|BPI Personal Loan - 36 months||1.20% -1.20%||fixed Interest Rate|
What are the required documents to apply for a BPI personal loan?
- Filled out application form, proof of income and valid identification cards are required for all applicants.
- Photocopy of one (1) government-issued valid ID (Passport, Driver's License, SSS, PRC, etc.) with photo
- Latest Income Tax Return form with BIR or Bank stamp (BIR Form 2316)
For Self-employed individuals:
- Copy of Government-issued valid ID (Passport, Driver's License, SSS, PRC, etc.)
- Copy of Audited Financial Statements for the last three (3) years
- Copy of Latest Income Tax Return (BIR Form 1700 / 1701)
- DTI Business Permit or SEC Registration
For Overseas Filipino Workers:
- Government-issued photo-bearing ID (Passport, Driver's License, SSS, PRC, etc.)
- If Agency based: POEA contract or Employment contract with boarding date
- If Direct Hire: Proof of remittance, POEA OFW Information Sheet or POEA Overseas, and Employment Certificate and Work Contract
- Note: Bring original copy of documents upon submission.
What are the modes of payment?
- Pay your monthly amortization via auto- debit from your BPI deposit account.
What are the eligibility requirements for BPI personal loan application?
- Applicant must be a Filipino citizen. Employees must be working for at least two years with their current company. He/she must be free from unsettled credit and/or debt obligations.
How do I claim my BPI personal loan proceeds?
- Your loan proceeds will be credited to your BPI deposit account.