BPI Auto Loan

  1. #45591
    Stanley Grego
    Stanley Grego Guest
    Reply

    BPI Auto Loan

    I need some feedback/comment/review on BPI auto loan.

    Have you tried to apply for a loan with them? What can you can say about it or you experience with them?

  2. #45601
    Miguel Aguas
    Miguel Aguas Guest

    Reply To: BPI Auto Loan

    I have my first car loan with BPI, and I must say it was fast and hassle-free. Also, they offer lowest interest rates compared to other banks.

    Since I have an express online account, I can easily access my balance with ease via internet. What I like the most is that my amortization is auto debit so it save me a lot of time and hassle of going to their branch when needed.

    For the requirements and processing, I must say that it’s very convenient to apply to them, especially if you already have an existing account in any of their branches. I even skipped the CI and other financial papers, I got a pre-approved status since my auto loan application is tiered from my own business account.

  3. #45611
    Kirk Martin
    Kirk Martin Guest

    Reply To: BPI Auto Loan

    What are the requirements that you need to submit to BPI and how to avail their auto loan?

  4. #45621
    eCompareMo
    ECompareMo Keymaster

    Reply To: BPI Auto Loan

    Hello Kirk,

    If you wish to apply for a BPI Auto Loan , below are the documentary requirements that you need to comply and the process that you need to go through for the application proces:

    Basic Requirements

    If your locally employed and currently working in the Philippines you must submit the following:

    1. (COE) Certificate of Employment . It must indicate your salary, position and tenure status
    2. Latest ITR (Income Tax Return)

    In case your an OFW and wish to apply, you must have the following:

    1. (COE) Certificate of Employment or your current Contract
    2. POEA validated Crew Contract and Exit Pass for Seaman
    3. Authenticated/Notarized (SPA) Special Power of Attorney

    For self-employed indivduals, you must prepare:

    1. (G.I.S) General Information Sheet
    2. ITR (Income Tax Return) with Financial Statements for at least 2 years (audited)
    3. DTI registration
    4. Articles of Incorporation and By Laws (must include SEC Registration Certificate)
    5. List of trade references, it can be major suppliers or customers (3 references indicating telephone number)
    6. At least 6 months bank statement

    Application Process:

    1. Once you completed the required document, you must submit to the branch. Unless you there is an account officer directly handling your application, you can submit it to him/her instead
    2. After submission of requirements, a bank representative will call you for a confirmation and CI (Credit Investigation)
    3. They will immediately let you know upon approval of your car loan. Sometimes it will take 5-7 working days depending on the flow of the application process. In case you got a pre-approved status, it will only take 1 working day for approval.

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