• BPI Personal Loan

    BPI Personal Loan

    The Bank of Philippine Island(BPI) is a leading banking and financial services institution in the Philippines backed by a rich heritage that spans over 164 years. Founded as El Banco Español Filipino de Isabel II in 1851, this Makati City banking giant has been a household name in the country with strong presence in terms of coverage and products portfolio. As one of the most recognized banking brands in the country, BPI finds its listing on the Philippine Stock Exchange(PSE) with multiple subsidiaries and affiliates, working towards providing the most up to date and seamless banking services.


    You’re probably eligible for an BPI Personal Loan if you are

    01
    02
    03
    04
    BPI Personal Loan Minimum Age

    No Info

    BPI Personal Loan Maximum Age

    No Info

    BPI Personal Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    BPI Personal Loan Minimum Income

    Earn more than the minimum
    income required


    Your BPI Personal Loan amount eligibility is based on these factors

    01
    02
    03
    BPI Personal Loan Minimum Salary

    Minimum income required
    P20000 per month

    BPI Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is P1000000

    BPI Personal Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligibility for Bank Personal Loan amount by these steps

    01
    02
    BPI Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    BPI Personal Loan Tenure

    Choose longer tenure loan up to 3 years


    Documentation needed to apply for BPI Personal Loan

    • 1.Copy of your ID proof (Driver’s License, Passport, SSS, PRC, etc.)
    • 2.Documentation for salaried applicants:(Anyone)
      • Latest pay slips (3 months)
      • Income Tax Returns with BIR
      • Bank Stamp(BIR Form 2316)
    • 3. Documentation for self Employed applicants:
      • Audited Financial Statements for the last 3 years
      • Latest Income Tax Return (BIR Form 1700 / 1701)
      • DTI Business Permit or SEC Registration

    BPI Personal Loan DetailsUpdated on 03 Dec 2016

    BPI Personal Loan Details
    Interest Rate EIR - 25.03% to 25.74%(p.a)
    Tenure 1 to 3 years
    Early Settlement Charges Nil
    Processing Fee P1500

    BPI Personal Loan – An Overview

    As a part of its retail lending products portfolio, BPI offers Personal Loans for all types of needs at pleasing rates and charges. Heavy on benefits, a Personal Loan from BPI is one of the most sought after in the country today. If you’re looking for loan that comes with flexible options, you must consider BPI to fulfill the requirement. You can find further information on how you can benefit from a BPI Personal Loan in the following sections.

    Why opt for BPI Personal Loan

    A Personal Loan is fast becoming one of the most popular loan instruments across the world, owing to many reasons such as being an open ended loan available for multiple purposes. Nearly, all major banks in the country offer this loan product. However, not all of them are able to balance the expectations in a justified manner. A loan from BPI aims at striking a fine balance between all details. Considering a loan from BPI comes with multiple perks such as getting a loan amount of up to 3 times of monthly gross income, fast processing timelines, competitive interest rates and so on.

    If you’re looking for an affordable personal loan that comes with transparent terms and rates, BPI is the answer. BPI maintains an easy application process and a customer centric after sales service. Monitor the loan real time online over internet banking or offline, by visiting any of the designated branches.

    Features of BPI Personal Loan

    High Quantum of Financing

    One of the most common rants that we hear often about Personal Loans is the fact that we do not get the loan amount that we really need, settling for an amount that often falls short of expectations. With BPI, you can get a loan amount of your choice(based on eligibility) as it provides amounts ranging from P20,000 to P1,00,000, depending on how much you need.

    Multi Purpose Loan

    Use the loan amount for anything that you need. No questions asked by BPI in terms of how you would like to utilize the loan amount which lets you apply without any inhibitions.

    Flexible Term Options

    One of the primary concerns of a loan applicant is the term of loan. The loan requirement can be huge and the worrying part can be the time given to repay the loan amount. With BPI, you can choose a term of 12, 18, 24, 30 or 36 months as per your convenience that goes light on your monthly budget.

    Competitive Interest Charges

    BPI Personal Loan offers the most competitive interest in the market. The current rate of interest is 1.20 percent per month which works up to 25.74 percent on an annual basis for a 12 month term. The most unique part about the interest rate slabs is that the base rate remains the same for all tenor options which furthermore adds on to the flexibility factor of choosing the a term of our choice.

    Auto Pay Option

    With the ADA(Automatic Payment Arrangement), one can set up a payment arrangement where monthly EMIs are electronically debited from the bank account on or before the due date as per the instructions provided. With this system, you will never have a reason to set reminders or miss a payment.

    Simple and Easy Documentation

    No elaborate paperwork. Depending on your nationality and source of income, you can be eligible to apply for a personal loan from BPI with relevant documents. The bank takes utmost care in ensuring that a checklist of documents required is projected in advance so that there is no delay in processing.

    No Penalty for Early Closure

    Most of the banks charge a fee if you decide to close the loan account before the end of term. With BPI, you can close the account anytime by simply paying off the outstanding balance and interest due as of that date without a penalty.

    Interest Rates for BPI Personal Loan

    The table below can be used to understand the interest rate slabs administered by BPI on Personal Loans.

    Loan Term(Months) Monthly Rate(Percent) EIR-Annual In Percentage
    12 1.20 25.60
    18 1.20 25.74
    24 1.20 25.59
    30 1.20 25.33
    36 1.20 25.03

    An ongoing promo entitles you for an interest of 0.98 percent on a monthly basis. Do check with the nearest branch or call the customer service to validate availability of this offer.

    Types of Personal Loan offered by BPI

    BPI offers Unsecured loan in the Philippines which requires no collateral to secure the loan amount. The eligibility is purely determined on the basis of income, credit history and other factors. If you’re looking for a standard personal loan that does not come with any frills, the BPI Personal Loan should be considered.

    Eligibility Criteria for BPI Personal Loan

    To qualify for a loan from BPI, the following requirements have to be met in addition to income criteria. The below points can be used as a checklist before making an application.

    • The applicant should be a resident Filipino. Foreigners are not eligible to apply.
    • Only people living or working in the approved geographical lending area qualify(Bank representatives will provide further advice in this regard).
    • Applicants with stable and acceptable sources of income are eligible to get a loan.
    Salaried Applicants

    •Min. gross monthly income of P20,000

    •Should be employed for at least 2 years

    Self Employed Applicants

    •Min. gross monthly income of P50,000

    •Operating a profitable and stable business for atleast 3 years

    Filipinos Working Abroad

    •Min. gross monthly income of P30,000

    •Employment of at least 2 years

    Freelancers or Professional Services

    •Gross monthly income of P25,000 at least

    •Employed for at least 2 years.

    Pensioner or Sustaining on Investments

    •Gross monthly income of P25,000

    •Subject to additional assessment to determine eligibility

    In addition to the above, you may be subject to other conditions on a case to case basis.

    BPI Personal Loan Requirements

    The table below will serve of as a reference point to prepare the paperwork.

    Employee/ Professional

    •ID proof (Driver’s License, Passport, SSS, PRC, etc.)

    •Latest pay slips (3 months) or Income Tax Returns with BIR or Bank Stamp (BIR Form 2316)

    Self-Employed

    •ID proof (Driver’s License, Passport, SSS, PRC, etc.)

    •Latest Income Tax Return (BIR Form 1700 / 1701)

    •Financial Statements (audited) for the last 3 years.

    •DTI Business Permit or SEC Registration.

    Overseas Filipino Worker

    •ID proof (Driver’s License, Passport, SSS, PRC, etc.)

    •If employment is via an Agency- POEA contract/ Employment contract (boarding date mentioned).

    •If hired directly- POEA OFW Information Sheet/ POEA Overseas and Proof of remittance.

    •Also, Work Contract and Employment Certificate.

    How to Calculate Loan Repayment for Bank Personal Loan?

    To understand the financials involved in a personal loan, it's paramount to use tools and resources available online to ensure you choose the most optimal terms such the loan tenor. The BPI Personal Loan Calculator is the right tool that gives an overall view of the loan you want to get. Most importantly, it projects the EMI amount and an amortization table.

    Before using this tool, keep handy details such as the loan amount, rate of interest & the term of loan. Once you have these details ready, follow the steps below to get the desired output.

    • The sliders can be used to select the Loan Amount and the Loan Tenor.
    • In the fields that follow, provide the rate of interest and and processing fee in percentage(if any).
    • Now, click ‘’Calculate’’ after validating the information.

    This will bring up a page with all the details you require such as EMI value, breakup of various charges and an amortization table and includes pie charts & bar graphs for ease of reference.

    Fees and Charges – BPI Personal Loan

    Processing Fee A fee of P1,500 is applicable as a one time fee, deducted from the loan amount before disbursement.
    Documentary Stamp Tax If the loan amount exceeds P250,000, an amount equivalent to P1.00 for every P200 to be deducted from the loan amount before disbursement.
    Late Payment Charges A penalty of 5% of the EMI amount is charged as Late Payment Fee if the monthly installment is not received within the due date.
    Prepayment Fee No penalty is levied for early closures. The principal amount outstanding along with the interest charges should be paid in full.

    Other Products from BPI

  • Contact Us on Mail
    Facebook
    reTH65gcmBgCJ7k - pingdom check string.
    This Page is BLOCKED as it is using Iframes.