How to Get a Personal Loan From BPI: Requirements and Process

Venus Zoleta

Venus Zoleta

Last updated May 20, 2024

How are you coming along when it comes to achieving your goals? Whether it's sending your child to college, renovating your home, or finally pushing through your international travel plans, funding—or the lack of it—shouldn't hold you back. 

If you need extra cash to fulfill your goal this year, consider a personal loan. Not sure which options to consider? Take a look at the BPI Personal Loan.

This article outlines everything you need to know about how to get approved for a BPI Personal Loan, as well as the loan's benefits, features, and repayment process. 

What is a BPI Personal Loan?

The BPI Personal Loan is a multi-purpose cash loan. It doesn’t require any collateral, so you won’t have to pledge anything valuable as a form of repayment.

Is the BPI Personal Loan legit? Yes! It's a product offered by one of the leading and most trusted banks in the country, after all. 

💸 BPI Personal Loan Types

Here are the types of personal loans BPI offers:

  • BPI Regular Personal Loan - Use this loan to cover a variety of needs, such as home renovation, business, education, and travel.
  • BPI Seafarer Loan - This BPI loan is specifically made for seafarers. It can be used to fund home renovations, tuition fees, and any other needs. 
  • BPI Salary Loan - Through a partnership with the bank, companies can offer BPI cash loans to their employees. 

Related reading: 

What Can I Use a BPI Personal Loan for?

how to get approved in bpi personal loan - personal loan purposes

The BPI Personal Loan can be used for a variety of purposes. Here are some of them:  

👉 Your Child’s Education

Avoid promissory notes by paying your child’s tuition on time. Use a BPI personal loan to cover education-related expenses, from matriculation to school supplies and even gadgets.  

👉 Home Renovation

Maybe you’ve been dreaming of turning your home into a Scandinavian-inspired space or converting one of your properties into an Airbnb rental. Cover the costs of renovation by borrowing money from BPI.

You can also use the BPI Personal Loan to cover costs for massive repairs after your property has been hit by a disaster.

👉 Dream Vacation

Raring to go on a much-deserved vacation? Start planning your trip with some funding. Use the money you’ll receive from your successful BPI Personal Loan application to book plane tickets and hotel rooms or buy travel essentials, such as luggage or shoes.

👉 Major Life Changes 

Whether you’re mourning a familial loss, moving to a new city, or getting married, you need some money to support yourself. The money from the BPI Personal Loan can certainly help. 

👉 Emergencies

In case one of your family members gets sick and hospitalized, you can use the loan’s proceeds to pay for hospital expenses.

Likewise, you can use the money to get your car fixed in case it breaks down. 

Why Should I Get a BPI Personal Loan?

how to get approved in bpi personal loan - why should i get a bpi personal loan

Below is a review of the BPI Personal Loan to help you decide if this product is right for you: 

✔️ Large Loan Amount

The amounts vary per loan type, ranging from ₱20,000 to ₱3 million. Remember, though, that the actual loan amount is subject to BPI’s approval.

✔️ Flexible Payment Terms 

Repayments can be split from two to 36 monthly installments, depending on the loan type. This allows you to settle for lower monthly payments over an extended period of time in case you can’t afford bigger repayments right away. 

✔️ Low Interest Rates

The BPI Personal Loan offers one of the lowest interest rates in the personal loan industry. 

This feature comes in handy for debt consolidation. Plus, instead of paying multiple lenders’ varying interest rates, you’ll need to cover only a single interest rate. Lastly, you’ll have to remember only one due date every month. 

✔️ No Collateral Required

As mentioned, a BPI Personal Loan doesn’t require any collateral. This means that you won’t have to surrender assets, such as your car, jewelry, or luxury goods, to get extra cash. 

✔️ Easy Payment 

Say goodbye to missed due dates by enabling your online account’s automatic debit feature. You won’t have to take trips to the bank or any payment center. 

BPI Personal Loan Key Features

Here's a quick rundown of the BPI Personal Loan features—including how much interest rates are in 2024, how long the processing time takes, how many days approval takes, and more:

  • Loan amount: 
    • Regular Personal Loan: Up to thrice your monthly income (₱20,000 to ₱3 million)
    • Seafarer Loan: ₱20,000 to ₱300,000
    • Salary Loan: Up to thrice your monthly income (up to ₱1 million)
  • Maximum annual contractual rate: 25.60%
  • Monthly add-on rate: 
    • Regular Personal Loan: 1.2%
    • Seafarer Loan: 1.5%
    • Salary Loan: May vary per company 
  • Loan terms:
    • Regular Personal Loan: 12 to 36 months
    • Seafarer Loan: Two to 11 months
  • Processing time: Within five to seven working days upon submission of complete requirements
  • Disbursement time: Within one to two banking days from the date of signing the loan documents
  • Processing fee: ₱1,500 (deducted from the loan proceeds)
  • Documentary stamp tax: ₱1.50 per ₱200 of the loan amount (applicable to BPI loans above ₱250,000)
  • Late payment penalty fee: 5% of the amount due
  • No collateral required

Exploring loan options from other banks? Check out these providers:

BPI Personal Loan Requirements

how to get approved in bpi personal loan - requirements

Ready to proceed with your BPI loan application? Here are the requirements you need to submit:

📌 BPI Personal Loan Eligibility Requirements

Check if you meet all these criteria:

  • Filipino citizen
  • At least 21 years old and not more than 60 years old when the loan matures
  • If employed:
    • Must have a minimum gross monthly income of ₱15,000 or ₱195,000 yearly
    • At least two years with the company
    • Permanent employee
  • If self-employed:
    • Must have a minimum gross monthly income of ₱30,000 or ₱360,000 yearly
    • Must be operating profitably for at least two years 

📌 BPI Personal Loan Documentary Requirements

How to get approved for a BPI Personal Loan? Submit authentic documents with accurate details to avoid getting rejected. 

The requirements vary for employees/professionals, self-employed individuals, and OFWs:

For Employees/Professionals

  • Duly accomplished and signed application form 
  • One government-issued ID bearing your picture and signature
  • Three months’ worth of pay slips (original copy) and/or your latest Income Tax Return (BIR Form 2316)

For Self-Employed Individuals

  • Duly accomplished and signed application form 
  • One government-issued ID bearing your picture and signature
  • Latest audited financial statements
  • DTI Business Registration or SEC Registration Certificate

For Overseas Filipino Workers (OFWs)

  • Duly accomplished and signed application form 
  • One government-issued ID bearing your picture and signature
  • For agency hires: POEA contract or an employment contract with boarding date 
  • For direct hires: Proof of remittance for the last three months, latest and unexpired POEA validated information sheet or latest POEA Overseas Employment Certificate (OEC), employment contract, and consularized Certificate of Employment (if the remitter is a permanent resident in the country)

For Allottees (Individuals Whose Income Come From Remittance)

  • Duly accomplished and signed application form 
  • One government-issued ID bearing your picture and signature
  • Proof of remittance or latest bank statement where remittance is sent
  • Latest and unexpired POEA validated information sheet or latest employment contract or consularized COE (if the remitter is a permanent resident in the country)

How to Apply for a BPI Personal Loan in 2024

If you're planning to get the Salary Loan, coordinate with your HR representative regarding the process.

Otherwise, you have two options: through the bank’s official website or in person at any BPI branch. Here's a walkthrough of the BPI Personal Loan application process:

👉 How to Apply for a BPI Personal Loan Online

It's easy to apply for a BPI Personal Loan, as the process involves only three steps:

Step 1: Check Your Eligibility 

how to get approved in bpi personal loan - application form

Go to BPI's online facility for personal loan applications.[1] Complete the pre-qualification form to see if you’re eligible for the loan.

Step 2: Fill Out the Application Form

If you’re eligible, fill in the form with your loan details, personal data, and requirements.

Step 3: Wait for the Results of your BPI Personal Loan Application

How to check, track, or follow up on the status of your BPI Personal Loan application? Call the bank’s hotline at 8891-0000.

How to know if your BPI Personal Loan is approved? How many days does approval take? BPI Personal Loan processing time takes five to seven banking days. You'll be notified via SMS.

If you have an existing BPI Online account and your application has been approved, your personal loan account will automatically appear on the Portfolio page. 

After you sign the documents, the proceeds of your BPI Personal Loan will be credited to your account in one to two banking days.

👉 How to Apply for a BPI Personal Loan In-Branch

If you prefer face-to-face transactions, you can visit the nearest BPI branch to apply for a personal loan. Fill out the BPI Personal Loan Application Form and submit it with the other BPI personal loan requirements.

Related reading: 

How to Get Approved for a BPI Personal Loan

While BPI doesn't publicize its personal loan approval rate, there are a few things you can do to increase your chances of approval:

  • Make sure you actually meet the eligibility requirements. All applications are subject to evaluation based on BPI's stipulated requirements. Before anything else, check if you earn the required minimum income. 
  • Check your credit score. If it's in the red at the moment, take the time to improve it before applying for a personal loan. Pay off your existing debt, deal with delinquent accounts, and improve your credit utilization ratio.
  • Submit complete and accurate requirements. Double- and triple-check your documents before submitting them to BPI. Even a single tiny error can cause BPI to reject your application.
  • Establish a relationship with BPI. If you can, improve your chances of approval by building a good relationship with the bank. If you're a long-time BPI Savings client in good standing, for instance, you might just get approved. 

How to Get Approved for a BPI Personal Loan: FAQs 

Curious about how other aspects of the BPI Personal Loan work? The items below may offer some answers: 

1. Will my BPI Personal Loan application be accepted even if I don't have a BPI account?

Yes, you can still apply for a BPI Personal Loan. Once your application is queued for approval, the bank will ask you to open a BPI account. That way, the loan proceeds will be easily directed to this account.

Your monthly installment will also be deducted from the same account.

2. Can I still submit my BPI Personal Loan application even if my monthly income doesn’t meet the bank’s minimum requirement? 

how to get approved in bpi personal loan - monthly income doesn't meet minimum requirement

As mentioned above, all personal loan applications are subject to credit evaluation and approval. You may try, but your application may be rejected. 

3. I’m a natural-born Filipino but have another citizenship. Am I still eligible for a BPI Personal Loan? 

Yes, but only if you’re currently residing in the Philippines. On top of the general requirements, you will be asked to provide a valid government-issued Alien Certificate Registration (ACR) ID. As in the case of other borrowers, your application will undergo credit evaluation.

4. I’m a foreigner with a Filipino spouse. Am I eligible to apply? 

Sadly, the BPI Personal Loan is only available to Filipino citizens residing in the Philippines. 

5. I’m an OFW currently working abroad. How to apply for a BPI Personal Loan? 

Submit your application while you’re abroad via BPI’s online application facility. But take note that once your application has been approved, the bank will require you to be physically present for the signing of the loan documents. Sign these documents at any BPI branch in the Philippines. 

Also, remember the validity of loan availment is only within one month from the date of approval. 

6. I need to update my personal loan account details. What should I do?  

If you need to update account information, such as address, contact information, due date, ADA account, or account name, you may do so at the nearest BPI branch. You may also call 8891-0000.

7. How much is my monthly installment?

Your monthly payment will depend on your chosen amount and term. If you choose to avail of a ₱200,000 loan with a 12-month installment term, the computation is as follows: 

  • First, get the simple interest.[2] ₱200,000 x 1.2% = ₱2,400
  • Then, get the monthly principal. ₱200,000 / 12 months = ₱16,666.66
  • Finally, add the interest and the principal. This will be your monthly payment: ₱2,400 + 16,667 = ₱19,066.66

how to get approved in bpi personal loan - online calculator sample computation

Check out the BPI Personal Loan Calculator to get an estimate.[3]

8. When is the due date of my monthly installment?

If you’re wondering how to pay your BPI Personal Loan, you need to know your due date first. Your monthly due date will be equivalent to the date of your loan’s booking. For instance, if your loan was booked on May 10, the due date will be every 10th of the month.

For regular personal loan clients, the first installment will start 30 days after the loan’s booking date. On the other hand, seafarer loan clients will start paying the installment 60 days after the loan is booked.

9. How do I pay for my BPI Personal Loan online?

The only way to pay the monthly installments of your BPI Personal Loan is through an automatic debit arrangement (ADA).

Once you get approved for a loan, you’ll be asked to open a BPI deposit account (if you don’t have one yet), to which your loan amount will be credited and from which your monthly repayment will be deducted. You’ll then be required to enroll in the ADA facility. Afterward, your monthly payment will be automatically debited from your BPI account on your due date.

No need to pay online or over the counter or issue post-dated checks. You just have to ensure that your BPI deposit account has sufficient balance before the due date.

10. How do I pay off my loan early?

That’s great! You’re actually shortening the payment period of your interest.

Make an early loan repayment at a BPI branch. Check your pay-off amount via your Personal Loan Account through the BPI Online account or BPI Online Mobile App. You may also contact 8891-0000 to get the details you need.

Remember that your loan’s interest is computed daily. This means that your pay-off amount is valid for the same day only.

11. My BPI Personal Account doesn’t have enough funds. What will happen if I fail to pay on time? 

If this happens, your unpaid amount will be charged with the BPI Personal Loan late payment charge of 5%. So if your monthly installment is ₱1,500, your penalty will be ₱75. The total amount due will be ₱1,575. 

12. I’ve fully paid off my personal loan. Can I request a certificate of completion or full payment?

Yes! You can head to the nearest BPI branch or call 8891-0000 to request a Certificate of Full Payment. 

13. Can I apply for another BPI Personal Loan?

BPI highly recommends that you apply only if you’ve already paid at least half of your outstanding personal loan.

14. Can I make a BPI Personal Loan renewal?

Yes, but BPI doesn't renew personal loans automatically. You'll have to reapply for a new loan. You must also update the documents you'll submit. The application will still undergo regular credit assessment.

You can also check out personal loans from other providers. Compare your options and apply through Moneymax!

Loan Amount

Monthly Add-on Rate

Minimum Annual Income

Approval Time

UnionBank Personal Loan
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Up to ₱2 million
As fast as 5 minutes
UNO Digital Bank Personal Loan
uno digital bank
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₱10,000 to ₱500,000
7 banking days
Metrobank Personal Loan
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₱20,000 to ₱2 million
1.25% to 1.75%
7 banking days
BPI Personal Loan
bpi logo
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20,000 to  ₱3 million
5 to 7 banking days
Tonik Credit Builder
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Up to ₱20,000
Inquire with Tonik
2 banking days
Tala Loan

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₱1,000 to ₱25,000
0.43% to 0.5% daily
24 hours
HSBC Personal Loan
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30,000 to ₱500,000
5 banking days
CIMB Personal Loan
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30,000 to ₱1 million
As low as 0.83%
2 banking days
Maybank Personal Loan
Maybank logo 2011-1
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50,000 to ₱1 million
5 to 10 banking days
RCBC Bank Personal Loan
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Up to ₱1 million
5 to 7 banking days
SB Finance Personal Loan

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₱30,000 to ₱2 million
5 to 7 banking days
PSBank Personal Loan
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₱20,000 to ₱250,000
1.75% or 2.5% 
5 to 9 banking days

Final Thoughts

Because BPI is one of the most established banks in the Philippines, you can easily count on its personal loan products. If you want to know how to get approved for a BPI Personal Loan, make sure to complete the requirements and know the ins and outs of the application process. 

If you need to look for another personal loan online, you can compare your options via Moneymax. Feel free to browse our articles to enrich yourself with useful and practical financial knowledge, too.

Apply for a personal loan through Moneymax


Venus has almost 20 years of combined experience in content marketing, SEO, corporate communications, and public relations. Most of her career was spent creating informative articles on personal finance and digital marketing. She also invests in stocks, mutual funds, VUL, and Pag-IBIG MP2. Venus graduated cum laude with a Journalism degree from the University of the Philippines Diliman. A hardcore Hallyu Tita, she loves bingeing Korean shows on Netflix while bonding with her cats. Follow Venus on LinkedIn.


Use a personal loan to consolidate your outstanding debt at a lower interest rate!

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