While it is free to dream of a luxurious car or a vacation in Mauritius for months, it requires hard work to earn money to make it happen. Without savings and funds for your bucket list, you can opt for other financial solutions, including loan products, as long as you manage repayments wisely.
Nowadays, there are fast-growing financing institutions that provide financial solutions to cater to the needs of Filipinos. Bank of Makati is one of them. It has been initially designed to generate help for money savers but now offers loan products and services to help consumers who need immediate funds for personal or business use.
Written by: Aunt Piggyy
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Piggyy Rating
Personal Loan
4.4/5
Motorcycle Loan
3.6/5
Auto Loan Financing
4.5/5
Expanded Motor Loan
4.8/5
Power Payday Loan
4.3/5
Housing Loan
4.4/5
Luxury Bikes Loan
4.9/5
Power Negosyo Enterprise Loan
4.7/5
Malalapitan Loan: Php20,000-Php50,000
4.4/5
Apply for loans that fit your needs with high loanable amount and flexible loan terms.
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The Bank of Makati, Inc., commonly known as BMI, is a well-established bank that has offered various financial products and services since July 1956. Driven by its mission to achieve a milestone in the banking industry, BMI took a huge leap from being originally built as a rural bank to becoming a trusted savings bank on April 16, 2015.
For more than 60-long years, the bank has consistently helped ordinary Filipinos and entrepreneurs reach the lifestyle they dream of having by providing them with multiple financial products to choose from. Among these, a savings account, several loan products, and cash management facilities are the usual go-to financial services that Filipinos avail.
BMI has also envisioned to be the leading choice of bank among Micro, Small, and Medium Enterprises (MSMEs). Thus, it introduced its very own business and “Malalapitan Loan”, a microfinance loan that exclusively works for entrepreneurs who wish to expand their growing business and investments.
BMI has continuously reached new heights. In 2006, it was recognized as the first rural bank in the Philippines to be included in the elite list of the Top 1,000 Corporations. It was also the biggest rural bank in the country. Exactly a decade later, BMI expanded its quality services in the financial market with 60 branches nationwide.
Committed to its real purpose, the bank remains a secured and reliable financial institution and loan provider. With its partnership as a member of the Chamber of Thrift Banks (CTB) and the BancNet ATM Consortium, BMI also allows its potential clients to experience quality basic banking services.
Its headquarters is located at Ayala Avenue near the corner of Metropolitan Avenue, Makati City.
For inquiries and concerns involving their services, they may be reached through their hotline at (632) 8889-0000 or mobile phone at 0920-971-1069. BMI also accommodates customers’ questions through their official website by clicking “Message Us” and sending them a message to their official Facebook page.
The Bank of Makati offers a wide variety of products and services that best address your urgent financial needs. Included in the list of its offers are Personal Loans, Auto Loans, and Business Loans that have different key features to match your specific needs.
Personal Loan is one of Bank of Makati’s consumer loans granted to eligible individuals who need cash for different personal reasons. It’s a non-collateral loan with easy application and quick processing. Borrowers can use the loan proceeds for personal consumption, home renovation, debt consolidation, medical expenses or tuition fees. It’s available nationwide across all Bank of Makati branches, loan centers, and affiliate dealer branches.
Loan Amount:
Loan Tenure: Within 12, 18, and 24 months
Mode of Release: Credit to Account
Mode of Payment: Pay in equal monthly amortizations through any of the following methods:
Are you one of those aspiring motorists who would love to buy a motorcycle but could not afford to pay in cash? The Motorcycle Loan lets you buy one from Bank of Makati’s affiliated dealers. If you’re qualified, you can borrow instant cash to buy your dream motorcycle.
Since this is a non-collateral loan, you don’t have to present collateral or any asset to get your loan application processed. Choose the best installment plan and fill out the online application form on Bank of Makati website.
Motorcycle Model or Unit: Available nationwide at Motortrade and Honda Prestige dealers
Loan Amount: up to 80% of Net Selling Price (subject to approval)
Loan Tenure: Within 6 months up to 3 years
Mode of Payment: Pay in cash or check through any of the following payment channels:
Auto Loan Financing is another financial product the Bank of Makati offers for individuals who want to borrow cash to purchase a vehicle. Unlike the first two loan products mentioned above, this type of loan requires collateral such as a Chattel Mortgage Agreement or an Original LTO Certificate of Registration (CR) to guarantee your loan approval.
Down Payment: At least 20% of Listed Cash Price (LCP) for first-time buyers or 15% of LCP for second or third-time car buyers.
Loan Tenure: Within 12, 18, 24, 36, 48, and 60 months
As another consumer loan, Expanded Motor Loan is a secured loan that grants cash to entrepreneurs or individuals who earn a stable income. The loanable amount depends on the unit or vehicle the borrower wants to purchase. Once approved, the borrower can use the loan proceeds to buy a Class A type of motorcycle or a car.
Loan Amount:
Loan Tenure: depends on the age of the unit
The Power Payday Loan is exclusive for eligible employees who need immediate cash for personal use and emergencies. It’s available to all company employees and only requires a few documentation for loan processing. The amount they can borrow depends on their employment status and the company category, whether it belongs to a top corporation or a non-top corporation.
Loan Amount:
Do you need to purchase, renovate, or enhance your home to find comfort? Bank of Makati Housing Loan offers competitive interest rates and flexible payment terms for borrowers who want to buy a home. Aside from that, you can use the loan proceeds to:
Loan Amount: Minimum of ₱300,000
Loan Tenure: Within 3 up to 20 years
If you wish to purchase a high-speed and brand-new bicycle for your road trip with your friends or family, a Luxury Bikes Loan is your best bet. You can receive instant cash to buy your bike if you’re one of the qualified borrowers. It only requires a low down payment, and you can pay the monthly amortization with a flexible term.
Down Payment: At least 20% of Net Selling Price
Mode of Payment: Pay in equal monthly amortizations through Post-dated Checks
Loan Tenure: Within 12, 18, 24, and 36 months
The Power Negosyo Enterprise Loan is another loan product suitable for aspiring and growing entrepreneurs. PNEL caters to business owners who seek cash to expand their business without having to present any collateral or asset. It requires no upfront payment, but the fees will be deducted from your loan proceeds.
Loan Amount:
For PNL 150: ₱50,000 up to ₱150,000
For PNL 300: ₱150,001 up to ₱300,000
For PNL 500: ₱300,001 up to ₱500,000
Loan Tenure:
For PNL 150: Within 3, 6, 9, and 12 months
For PNL 300: Up to 24 months
For PNL 500: Up to 36 months
Processing Fee: ₱1,000 on top of documentary stamp tax, credit life insurance, notary, and annotation fees.
This microfinance loan, also known as Malalapitan Loan, helps entrepreneurs start, improve, and expand their businesses. In particular, it is beneficial for self-employed entrepreneurs aged 18 to 65 who need funds to grow their business, buy new or additional equipment, and any other tools to help enhance the operations.
The BMI Malalapitan Loan is also coupled with the BMI Maaasahan Savings Account. You can save a portion of your payment after successfully repaying your outstanding loan of any kind.
Loan Amount: ₱20,000 up to ₱150,000
Loan Tenure: Within 3 up to 12 months
Repayment Frequency: Daily, weekly or monthly
Payment Channel: any branches of BMI in Metro Manila
The Business Loan is open to all business owners and aspiring entrepreneurs who need extra funds to purchase fixed assets, equipment, and machines, to name a few. The interest rate depends on the prevailing market rates, and it entails other loan facilities as follows.
Loan Facilities:
Loan Line or Housing Construction Line serves as a financial service and a revolving credit line that helps individuals borrow instant cash to settle their expenses for house or condominium unit construction. This kind of loan is not typically introduced in other banks and lending companies, but the Bank of Makati ensures that its potential clients can avail of this beneficial loan.
Note: Call any of the BMI branches in Metro Manila for more additional details and loan features.
From the term itself, a Developmental Loan is an amortized loan that helps individuals finance the enhancement of their ongoing house construction or project. Like the previous housing loan, other banks and lending companies don’t typically offer this, but BMI offers it for borrowers with their ongoing development of housing projects.
Note: Call any of the BMI branches in Metro Manila for more additional details and loan features.
Note: The loan applicant must own the unit that will be used as collateral.
In today’s digital era, you can transact online. Banking isn’t an exemption, but so does getting a loan. You can do it in the comfort of your home. With Bank of Makati, you can complete the loan application online.
Bank of Makati recognizes the essence of having competitive loan offers. It provides higher loan amounts for specific loan products that borrowers can use for different purposes.
Flexible loan tenure is available at the Bank of Makati to allow borrowers to repay their loans based on their financial capacity. It serves as a leeway that considers their financial status and alleviates their worries about immediately repaying their loan before they are financially ready.
On top of their savings account and credit lines, the Bank of Makati also provides loan and cash management services that benefit individuals who wish to receive instant cash for their personal and urgent needs. These additional programs widen the bank’s financial services, which in turn, help Filipinos manage their funds well.
One way to sign up and apply for any type of loan at the Bank of Makati is through their website. Below are the steps that will serve as a guide to help you navigate and avail of Bank of Makati’s financial services.
Select your preferred loan product. Choose “mymoney” for personal and auto-related loan programs or “mybusiness” for loan options involving business purposes.
Scroll down and select the type of loan product you would like to apply for. Click “Online Application” to proceed with filling out the application form.
Complete the required fields with the necessary personal details in the form. Determine your loan information, personal and business details, and work and finances. Also, include your personal references, and finally, submit your application.
Many banks, including the Bank of Makati, now offer financial services like consumer and business loans aside from savings accounts. They give an avenue for individuals to enjoy and reach their dream without worrying about where they can get the funds to support their goals.
These financial services are not just a quick solution for individuals looking for extra cash but also contribute significantly to entrepreneurs who cannot afford to start their businesses.
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