Check Here the BPI Passenger Car Loan Interest Rate & How Much You May Borrow
BPI PASSENGER CAR LOAN INTEREST RATE – You can check here the loanable amounts and the interest under the Bank of the Philippine Islands offer.
Are you looking for an entity that can finance your purchase of a passenger car? You landed on the right and perfect option — the Bank of the Philippine Islands. More popularly called BPI, it is one of the most trusted banking entities in the country with several offers for both salaried and non-salaried individuals.
Aside from the regular BPI Auto Loan offer, the Bank of the Philippine Islands also offers the BPI Passenger Car Loan that features affordable rates, low cash-out, and an easy application process. It is open for locally-employed individuals, self-employed individuals, overseas Filipino workers, foreigner applicants, and applicants who are practicing their profession with their own business.
The BPI loan offer is open for both brand new and second-hand passenger cars. However, it is important to know that there are varying BPI Passenger Car Loan interest rate as well as loanable amounts depending on the loan term and the unit itself.
Before checking on the BPI Passenger Car Loan interest rate, it is important to check the loanable amounts first. Here are the borrowing amounts allowed by the bank under the offer:
Brand New Passenger Car
- Minimum Loanable Amount — Php 200,000.00
- Maximum Loanable Amount — up to 85% of the purchase price
Second Hand Passenger Car
- Minimum Loanable Amount — Php 200,000.00
- Maximum Loanable Amount — up to 70% of the purchase price
With regards to the loan term, the loan is payable from one (1) year up to seven (7) years. This is where the variations in the BPI Passenger Car Loan interest rate sets in depending on the loan term. Here’s a guide:
Brand New Passenger Car
| Term | Add-on rate | Effective rate |
| 12 | 5.43% | 9.88% |
| 18 | 7.73% | 9.55% |
| 24 | 11.30% | 10.50% |
| 36 | 17.76% | 10.94% |
| 48 | 24.13% | 11.03% |
| 60 | 31.01% | 11.19% |
| 72 | 38.42% | 11.37% |
| 84 | 46.39% | 11.58% |
Second Hand Passenger Car
| Term | Add-on rate | Effective rate |
| 12 | 7.89% | 14.26 % |
| 18 | 11.87% | 14.50% |
| 24 | 16.08% | 14.75% |
| 36 | 24.80% | 15.00% |
| 48 | 34.20% | 15.25% |
| 60 | 44.32% | 15.50% |
The offer of the bank is available in over 800 branches of BPI nationwide, thus, it is really accessible. Do you want to apply for the loan offer? It is time to check on the qualifications and the requirements for the BPI Passenger Car Loan application.