The Bank of the Philippine Islands (BPI) is the first bank committed to providing excellent financial service to Filipinos. It’s a pioneer in the banking industry with over a century of experience catering to every Filipino’s needs. People who have been banking with BPI are satisfied with its services because of the convenience it offers and its strong track record.
Written by: Piggyy
BPI Personal Loan
Auto Loan
Home Loan
Cards
Bank Services
BPI is regulated by the Bangko Sentral ng Pilipinas (BSP) and has been serving the Filipino people since 1851, being the first bank in the Philippines and the Southeast Asian Region. BPI was first known as El Banco Español Filipino de Isabel II and is a universal bank that offers financial services to retail and corporate clients.
BPI has over 1,176 branches in the Philippines, Hong Kong, and Europe. It has over 3,000 ATMs and CAMs, providing convenience to its clients globally.
BPI’s vision has always been to build a better Philippines. As the first bank in the country and in the region, it was the first central bank that provided credit to the National Treasury, printed and issued currency carrying its name. Since then, BPI has continued its commitment to supporting nation-building and economic growth.
BPI is located at Tower One, Ayala North Exchange, 6796 Ayala Avenue corner Salcedo St., Legaspi Village, Makati City, and may be contacted at the 24/7 contact center at (+632) 889-10000. Customers can also drop a message through their website for other inquiries and concerns.
BPI personal loan has three types: BPI Personal Loan, Seafarer Loan, and Salary Loan.
This is a collateral-free loan type designed to address any urgent financial needs, from the renovation of your home, tuition fee payment, travel to your dream vacation, starting your own business, and emergencies.
Loan Features:
Amount: up to Php2,000,000 or get up to thrice your monthly income
Term: 12 to 36 months
Payment: Auto debit facility
Maximum APR: 25.60%
Requirements:
Employed:
Self Employed:
This loan type is just like a personal loan, but it specifically caters to the needs of seafarers.
Loan Features:
Amount: up to Php300,000 subject to approval
Term: 12 to 36 months
Payment: Auto debit facility
Maximum APR: 25.60%
Requirements:
Agency-Based
Direct Hires
Allottee / Income from Remittance
This loan product is specially designed for employers who want to address their employees’ financial needs, ensuring access to a valuable financing option that provides excellent loan terms and lower interest fees.
Loan Features:
Amount: Php10,000 to Php1,000,000
Term: 12 to 36 months
Payment: Auto debit facility
For Salary Loans, the requirements for loan application are significantly reduced. The following should be submitted to the company HR:
Getting your first car, upgrading the current one, or purchasing a vehicle for business use can be pretty hefty if you pay it on the spot in cash. But the good thing is that BPI offers a car financing option that requires a down payment of 15%.
Loan Features:
Amount: a minimum amount of Php200,000
Term: 1 to 5 years (Brand New / Second Hand Vehicle), 1 to 3 years (Brand New Big Bike), 1 to 5 years (Brand New Truck)
Down Payment: 15% (Brand New Vehicles), 30% (Second Hand Unit, Brand New Big Bike, Brand New Truck)
Vehicle Type: Passenger Car, Big Bike, Truck
Eligibility Criteria
Foreign nationals married to Filipinos, partnerships, or corporations may also apply for an auto loan.
Requirements:
Employed:
Self Employed:
Some people dream of owning a home, and although buying a property is not always cheap, the key is finding a home loan that has a better offer than others.
If you’re planning to buy a house and lot, want to construct a house, renovate a home, or take a property equity loan, this home loan could be an ideal option for you.
Loan Features:
Amount: Minimum of Php400,000; Maximum of 70% of the appraised value of house & lot, 60% of the appraised value of the vacant lot or residential condominium, up to 80% of the appraised value of house & lot not to exceed P5M (provided the applicant is employed and purpose is for owner occupancy)
Term: Up to 25 years for a house and lot & up to 10 years for a vacant lot, residential condominium, business loan, refinancing, or multi-purpose loans
Down Payment: as low as 10%
Eligibility
Requirements:
Submit the following documents:
Locally Employed
Overseas Filipino Workers (OFWs)
If Self-Employed
If a Practicing Doctor – Clinic address/es and schedule
If from Commission – Vouchers or Bank Statements (last 6 months reflecting commission income)
If from Rental of Properties
Collateral Documents
If you are looking at making an easier purchase of your needs or Payment of your bills on credit, a credit card is the best tool. Here are the credit cards available with BPI:
Each card offers specific benefits according to what you need and where you spend the most.
Minimum Amount Due: Php850 if the total outstanding balance is less than or equal to Php850. If the total outstanding balance is more than Php850, the amount due is 3.75% of the total outstanding balance.
Finance Charge: 2% of the total unpaid balance
Not indicated.
When people talk about BPI, everybody knows that it is a bank they can trust and is one of the biggest banks in the country today. There are a lot of reasons why Filipinos should choose BPI. We highlighted some of them below:
As a pioneer in the country and the Southeast Asia Region, BPI proves its leadership in innovation as it constantly adapts to the ever-changing financial needs of the people while also committing to help build a financially able Philippines.
Customers who transact with BPI receive excellent customer service anywhere they go. They can contact customer support, whether via online or phone banking, and ask for help with any account-related concerns.
With over a thousand branches nationwide and overseas, banking with BPI is made easy.
Their presence in the Philippines and other parts of the world proves that they are available for Filipinos overseas.
Borrowers can apply for loans online or through the branch. For online loan applications, the following steps can be followed:
Fill out the online application form. Provide all the necessary information regarding the loan. Remember that before you start the loan application, you can check the monthly payments you will most probably pay, given the terms, you intend to pay for the loaned amount.
Provide your personal, contact, employment information and references.
Finally, submit your loan application. Tick on the boxes after reading the terms and conditions of the loan and click the submit button.
Once the application form is completed, you will receive an email from BPI to confirm your application. If you have not received it, check your spam folder.
You will be required to submit your income information. Once complete and scanned, you can send it to [email protected].
The status of your loan application will be sent via SMS.
For Salary Loan, check with your employer’s HR to see if the company you are working for is accredited with BPI for the Salary Loan feature. If your employer is accredited, these requirements must be submitted to your HR:
You will receive an SMS notification of the status of your loan application.
If you are looking at a bank that you can rely on with years of proven expertise in addressing the banking needs of Filipinos, you do not have to look further. BPI has a strong track record of providing financial solutions to Filipinos everywhere.
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