Guide on BPI Personal Cash Loan Features & Application
BPI PERSONAL CASH LOAN – Here are the important details about the Personal Loan offer of the Bank of the Philippine Islands.
One of the banks that operate in the Philippines for decades now since 1851 is the Bank of the Philippine Islands or more popularly called BPI. It is a universal bank with several subsidiaries and affiliates across the nation.
BPI offers different bank accounts, credit cards, loans, and other investment and finance products and services. One of its loan offers is the BPI Personal Cash Loan which is a non-collateral loan offer. Thus, you do not have to be an owner of a property or to present any property as the collateral to qualify for the loan offer.
The Personal Loan offer is multi-purpose and it also does not require a guarantor for the application. You may apply for it to meet several purposes including the following:
- personal purchases
- home renovation
- business
- education
- travel
With regards to the loanable amount, you may borrow up to Php 3 million under the BPI Personal Cash Loan offer. The loan is payable in 12, 18, 24, 30, or 36 monthly installments. Here are the few qualifications in applying for the loan offer:
- of legal age
- living or working in an area that is within the service region of BPI
- employed or self-employed with a stable income
There are documentary requirements in applying for the BPI loan offer. The list depends if you are employed, an allottee, or self-employed. Here’s a guide on the documents required by the bank for application:
Locally-Employed Individuals
- duly-accomplished BPI Personal Loan Application Form
- valid ID issued by the Philippine government (with photo and signature)
- latest three (3) months payslips or latest Income Tax Return (ITR) or Bureau of Internal Revenue (BIR) Form 2316
Allottee
- duly-accomplished BPI Personal Loan Application Form
- Proof of remittance or latest bank statement where remittance is credited
- Latest and unexpired POEA validated information sheet or latest Employment Contract or consularized COE (If remitter is permanent resident in the country)
Self-Employed Individuals
- duly-accomplished BPI Personal Loan Application Form
- valid ID issued by the Philippine government (with photo and signature)
- 3 years of Audited Financial Statements (AFS) or latest ITR
- Business Registration Certificate issued by the Department of Trade and Industry (DTI) or the Securities Exchange Commission (SEC)
Aside from the regular cash loan offer of the Bank of the Philippine Islands, the bank also offers a special multi-purpose cash loan offer for Seafarers and the employees of the companies accredited to the banks.
Aside from BPI and BDO Unibank, another reputable bank that also offers a cash loan to Filipinos is the Maybank.
