BPI Personal Loan

BPI Personal Loan Review

There’s no denying that money is usually a catalyst to fulfill future goals that sometimes get stalled when money’s tight. Get the extra cash you need up to ₱2 million in flexible monthly installments with BPI Personal Loan.

Where Can I Use a BPI Personal Loan?

Get additional cash to fund your needs with BPI Personal Loan. You can apply for a loan collateral-free of up to ₱2 million or 3x your monthly salary. Monthly payments are up to 36 months and requirements are minimal. You can pay for your personal needs such as:

• House renovation - Start hiring experts for repairs that were put on hold or to transform your house from ordinary to Instagram-worthy. Get a personal loan to achieve your house goals so you can comfortably live in your home.

• Tuition fees/school expenses - Back to school also means it’s time to pay a higher tuition fee and additional school expenses such as a laptop or tablet, uniform, bag, and other school supplies. Be ready for school season by getting a BPI Personal Loan.

• Business starter - Have you been wanting to be your own boss but don’t have the funds yet? Jumpstart your business by getting a BPI Personal Loan.

• Travel expenses - Saving for a dream vacation might take a lifetime and life is short. Plan your trip now and get a little bit of help with BPI Personal Loan.

Who Can Get a BPI Personal Loan?

Before applying for a loan, you need to meet the following BPI Personal Loan eligibility criteria:

• 21 years old and above and not older than 60 years old upon loan maturity
• Filipino citizen
• For non-OFWs, lives within 30 km from the nearest BPI branch
• Minimum annual salary of ₱300,000

BPI Personal Loan Requirements for Filipinos

• Valid government-issued ID with your photo and signature
• Filled-out and signed application form
• Income documents
• BPI account (once an application is queued for approval)
• Employed: your payslip in the last three months or your latest ITR BIR Form 2316
• Self-employed:
  • Audited financial statements in the last three years or your latest ITR
  • DTI/SEC Business Registration Certificate
• OFWs:
  • Via agency: Most recent and unexpired signed POEA contract or employment contract with boarding date
  • For direct hire:
    • Most recent three months Proof of remittance
    • Most recent and unexpired signed POEA Validated Information Sheet or latest POEA Overseas Employment Certificate (OEC), and latest employment contract*
    • Consularized COE (if remitter is a permanent resident in the country)

*OEC exemption screenshot with OEC BM online profile is acceptable if OEC print-out is not available

BPI Personal Loan Sample Calculation

To get a sample computation of your BPI Personal Loan, head down to the nearest branch near you to inquire. You may also call them at ‎(+632) 889-10000 or email at personal_loan@bpi.com.ph.

BPI Personal Loan Rates

• Loan amount: ₱20,000 to ₱2 million
• Loan terms: 12, 18, 24, 30, or 36 months
• Monthly interest rate: 1.2%
• Annual contractual rate/effective interest rate: 25.03% to 25.60%
• Late payment penalty fee: 5% of the amount due
• Processing fee:
  • Below ₱250,000 - A one-time fee of ₱1,500 that will be deducted from loan proceeds
  • Above ₱250,000 or for business needs - Documentary Stamps Tax equivalent to ₱1.50 for every ₱200 of the loan amount as required by the government
• Minimal requirements: No collateral fee and no pre-termination fee