Guide on BPI Auto Loan 2025 Features & Application
BPI AUTO LOAN 2025 – Are you excited to drive your own wheels soon? The Bank of the Philippine Islands got an excellent offer for you.
Truth be told that having a car nowadays can be a necessity most especially if you are living far away from home or work. A vehicle in the house and at least one person who is licensed to drive can also be an emergency preparation. Nowadays, you don’t have to wait until you have at least six (6) digits in the bank to be able to acquire a car.
With the presence of car loan-providing entities now, it is easier to achieve the car of your dreams as long as you qualify to the offer. The Bank of the Philippine Islands, more popularly called BPI, has the BPI Auto Loan offer that you may turn to.
The Bank of the Philippine Islands is one of the biggest and most trusted banking entities in the country. The BPI Auto Loan offer can finance the purchase of your dream car whether it is brand new or pre-owned. It also got several excellent features which you can check below.
Under the BPI Auto Loan offer, you may also apply for a loan to gain access to funds using your car as the collateral. It got its offered covered with low interest rates, flexible loan terms of up to seven (7) years, and easy access to the loan. You may apply for it at any of the 800 branches of the bank across the nation.
The loanable amount under the BPI Auto Loan offer may vary depending on the vehicle purchase such as whether it is brand new or pre-owned. The maximum loan term for brand new vehicles is up to seven (7) years and for pre-owned vehicles up to five (5) years.
You may also check the interest rate under the BPI Auto Loan offer ahead as well as the charges that may apply. Meanwhile, if you are decided to apply for the loan offer, here is a guide on the application process:
Step 1 — Check the Qualifications. It is important to meet the eligibility criteria set by the bank to qualify for the loan offer. To be eligible to apply for the loan, the loan applicant must be:
- at least 21 years old upon the loan application
- not more than 70 years old upon the loan maturity
- earning a minimum household income of Php 30,000
Step 2 — Prepare the Requirements. Aside from the eligibility requirements, there are also documentary BPI Auto Loan requirements for application that you need to prepare and submit in applying for the loan. The documentary requirements vary among the salaried and non-salaried applicants of the loan offer.
Step 3 — Go to BPI. To finish your BPI loan application, visit a branch of the bank nearest to you and submit your loan application which is inclusive of a complete set of documentary requirements. The bank has the sole authority in assessing your loan application. Wait for an update from the bank regarding the status of your loan application.