Maricor Bunal
A personal loan is a savior for many Filipinos, especially in times of emergencies. Loan proceeds may also be used to start a business, which is also a dream for many Pinoys. But we often find ourselves out of options or just unaware of the choices we have when finding a loan provider. Good thing BPI personal loan options are now made available to many people as part of the bank’s initiative in helping improve the people’s lifestyle.
It’s wise to consult one of our financial advisers here at Loansolutions PH to explore the types of credit available and which of these you’re qualified to get.
WHERE TO START?
It’s wise to consult one of our financial advisers here at Loansolutions PH to explore the types of credit available and which of these you’re qualified to get. For instance, you can opt for one of the following options depending on your employment status:
- Regularly Employed Applicants
- Self-Employed Applicants
- OFWs
- Freelancers
- Pensioners
BPI is known for its fast approval turnover, which is between 8-13 banking days. Do you consider one of BPI’s loans as an option? If you do, you have to see first if you’re eligible for a loan. Then, prepare your requirements and go to the nearest BPI branch to apply.
Eligibility Requirements
BPI accepts applicants from individuals between ages 21 to 60 years old. Minimum income required for pensioners, freelancers and salaried applicants is PHP 25,000. Self-employed individuals should submit a document showing their income is at least PHP 50,000. For OFWs, they should be earning at least PHP 30,000 per month.
WHAT’S IN IT FOR YOU?
With BPI personal loan, you can borrow for as low as PHP 20,000 to up to PHP 1,000,000. This is payable within 1 to 3 years with a 1.20% add-on rate per month. There’s no penalty for early settlement, which means you can repay the amount in full even before its maturity date without charge. A 5.00% monthly rate is imposed on the outstanding balance, though, so you better be careful not to make late payments.
Apart from these, qualified borrowers also enjoy these perks:
- Different Payment Options – BPI has many branches, allowing borrowers to make payments over-the-counter or via ATM kiosks. One can also opt for auto-debit payment arrangements to ensure you won’t miss a payment schedule ever. Or one can pay via the bank’s online banking facility.
- .Multi-purpose Loan – As a multi-purpose credit, borrowers can use the loan proceeds in various ways, be it for travel, school expenses, utilities or medical bills.
- Flexible Loan Tenor – BPI also offers the most flexible term in the country. Borrowers can sign up for a loan that matures in 12, 18, 24, 30 or 36 months.
BPI has been operating in the Philippines since 1851 and it survives and thrives despite the country’s unstable financial landscape. That being said, the bank can easily be considered one of the most reliable providers of loan products suitable to the Filipino people’s lifestyle and economic needs. Are you ready to get a BPI loan? If you are, contact Loansolutons PH now and get started with your application.
