How much can I borrow?
With a BPI Personal Loan, borrow as much as 3 times of your gross monthly income, with amounts ranging from P20,000 up to P1,000,000, subject to approval.
How do I pay for my monthly installments?
Conveniently pay your monthly installments via automatic debit from your BPI deposit account.
What happens if I fail to pay my monthly installment?
Your unpaid amount will be charged a late payment penalty fee of 5%. For example, if you missed paying your monthly installment of PHP 1,000, you will be charged a late payment penalty of PHP 50. Your total amount due will now be PHP 1,050 if paid within the same month.
Can I pay my loan in advance?
You may prepay your loan anytime without any pre-termination penalty and fees.
What are the BPI Personal Loan Requirements?
An applicant must fulfill BPI’s eligibility criteria for a loan:
- Must be at least 21 at the time of loan application and not older than 60 years old upon loan maturity.
- A Filipino citizen living or working within a BPI – approved geographical lending area.
- At least a permanent resident employed for two years with a gross salary of P25,000.00 per month
- An Overseas Filipino Worker with a minimum gross salary of P30,000.00 per month and employed for two years.
- Self-employed applicants need to have an operational business for at least three years and a P50,000.00 minimum monthly income.
Consequently, after filling out an application form, the following documents are necessary.
Fully Employed applicants need:
- Government-issued photo-bearing ID (Passport, Driver’s License, SSS, PRC, etc.)
- 3 months original pay slip and/or Latest Income Tax Return with BIR or Bank stamp (BIR Form 2316)
Self – Employed applicants need:
- Business must be operational for at least 3 years
- Government-issued photo-bearing ID (Passport, Driver’s License, SSS, PRC, etc.)
- Audited Financial Statements for the last 3 years
- Latest Income Tax Return (BIR Form 1700 /1701)
- Business Permit from DTI or SEC
Overseas Workers need:
- Government-issued photo-bearing ID (Passport, Driver’s License, SSS, PRC, etc.)
- Agency based: POEA contract or Employment contract with boarding date Direct hire: Proof of remittance, POEA OFW Information Sheet or POEA Overseas Employment Certificate and Work Contract
*Additional documents may be required during Credit evaluation.