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

Venus Zoleta

Venus Zoleta

Last updated August 03, 2023

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

Need extra cash to fulfill your goal this year? A loan from one of the leading and most trusted banks in the country can help you. Take a look at the BPI Personal Loan, for instance.

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

What is a BPI Personal Loan?

The BPI Personal Loan is a non-collateral cash loan that you can avail of for your cash needs. It doesn’t require any collateral, so you won’t have to pledge anything valuable as a form of repayment.

💸 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 OFW loan is specifically made for seafarers. It can be used to fund home renovations, tuition fees, business expenses, and any other needs. 
  • BPI Salary Loan - Through a partnership with this bank, companies can offer BPI cash loans to their employees. 

What Can I Use a BPI Personal Loan for?

how to loan in bpi - 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.

Moreover, a BPI Personal Loan can be used for massive repairs after your property has been hit by a disaster.

👉 Business

Need additional funding for starting or growing your business? Want to grow your freelance career with a brand-new laptop? With the help of a BPI Personal Loan, you'll get the cash you need to cover your business expenses.

👉 Dream Vacation

Raring to go on a much-deserved vacation? Start planning your trip with some early funding. The money you’ll receive from your successful BPI Personal Loan application can be used for booking plane tickets and hotel rooms or buying 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 loan in bpi - why should i get a bpi personal loan

Below are the top reasons a BPI Personal Loan may be 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 

Loan repayments can be split into 12, 18, 24, 30, or 36 monthly installments. 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 only need to cover a single interest rate. Also, you’ll only have to remember 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 your assets, such as your car, jewelry, or luxury goods, to get extra cash. 

✔️ Easy Payment 

You can conveniently pay your BPI Personal Loan through the bank’s online facilities (web and app). This means you won’t have to take trips to the bank or any payment center. Also, you can say goodbye to missed due dates by enabling your online account’s automatic debit feature. 

BPI Personal Loan Key Features

Here's a quick rundown of the BPI Personal Loan features—including interest rates, 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: 12 to 36 months
  • BPI Personal Loan 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 or those for business purposes)
  • Late payment penalty fee: 5% of the amount due
  • No collateral required

Exploring loan options from other banks? Check out these providers that offer low interest rates on personal loans like BPI:

What are the BPI Loan Requirements?

how to loan in bpi - requirements

If you want to proceed with your BPI Personal Loan application, here are the requirements you need to submit. 

📌 BPI Personal Loan Eligibility Requirements

Check if you meet all these qualifying 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 ₱20,000
  • If self-employed: must be the owner or a majority owner with at least 40% stake in the business and a minimum gross monthly income of ₱50,000. The business must also be operating profitably for at least two years with at least one trade reference

📌 Required Documents for BPI Personal Loan Application

The requirements vary for employees/professionals, self-employed individuals, and OFWs. Make sure to submit authentic documents with accurate details to avoid getting rejected. 

For Employees/Professionals

  • Duly accomplished and signed application form 
  • One government-issued ID bearing your picture
  • 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
  • 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
  • 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
  • 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 Get a Loan From BPI: Loan Application Process

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 how to get a loan from BPI:

👉 How to Apply for a BPI Personal Loan Online

The online application process has only three steps:

Step 1: Check Your Eligibility 

how to loan in bpi - 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 your BPI Personal Loan application status? Call the bank’s hotline at 8891-0000.

How to know if your BPI Personal Loan is approved? You'll be notified about your loan application status via SMS within five to seven banking days.

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. 

👉 In-Branch BPI Personal Loan Application Steps

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.

How to Get a Loan From BPI: 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 loan in bpi - monthly income doesn't meet minimum requirement

BPI reminds applicants that 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. However, you may continue to apply 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? 

You can submit your application while you’re abroad via BPI’s online application facility. But take note that the bank will require you to be physically present once your application has been approved for the signing of the loan documents. You can 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

Check out 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. You can 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 that 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 that you'll submit. Moreover, the application will still undergo regular credit assessment.

You can also check out other personal loan companies and their loan features. Compare your options and apply through Moneymax!

Personal Loan 
Minimum Loan Amount
Maximum Loan Amount
Monthly Add-on Rate
Minimum Annual Income
Approval Time
UNO Digital Bank Personal Loan
uno digital bank
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1-2 days
Metrobank Personal Loan
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₱1 million
1.25% to 1.75%
7 days
UnionBank Personal Loan
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₱2 million
24 hours
BPI Personal Loan
bpi logo
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 ₱2 million
5 to 7 banking days
RFC Loan
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As fast as 24 hours
Tonik Flex Loan
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Starts at 1.7%
1 banking day
Tonik Quick Loan
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Starts at 4.26%
As fast as 1 hour
Tonik Big Loan
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₱5 million
7 days
Tala Loan

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24 hours
HSBC Personal Loan
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5 to 7 banking days
CIMB Personal Loan
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₱1 million
As fast as 24 hours
Maybank Personal Loan
Maybank logo 2011-1
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₱1 million
5 to 10 banking days
RCBC Bank Personal Loan
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₱1 million
5 to 7 banking days
SB Finance Personal Loan

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₱2 million
5 banking days
CTBC Bank Personal Loan
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 ₱2 million
1.39% to 1.79%
1 to 5 banking days
PSBank Personal Loan
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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 increase your application’s chances of approval, prepare and complete the requirements and know the ins and outs of how to get a loan from BPI. 

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

Personal loan in the Philippines


Venus leads the blog content strategy and optimization at Moneymax as the Head of Editorial Content. She has 15+ years of experience in content marketing, corporate communications, and public relations. Venus graduated cum laude with a Journalism degree from the University of the Philippines Diliman. Before joining Moneymax, Venus had written informative guides and articles, specializing in personal finance and digital marketing. She also invests in stocks, mutual funds, VUL, and Pag-IBIG MP2. A hardcore Hallyu Tita, she enjoys bingeing K-dramas on Netflix while bonding with her rescued cats. Follow Venus on LinkedIn.


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