Details about BPI Truck Loan Interest Rate Based on Term
(Light & Medium Trucks)
BPI TRUCK LOAN INTEREST RATE – Here is a guide on the interest rates implemented by the Bank of the Philippine Islands (BPI) for light or medium truck purchase under its loan offer.
Trucks are essential in several businesses. However, a truck purchase will require a huge amount that not all operational capitals are ready to shoulder under a one-time payment. Meanwhile, if you are determined to get one through a loan offer, you can turn to the Bank of the Philippine Islands or BPI, a trusted banking giant in the country.
BPI Truck Loan
The Truck Loan offer of the Bank of the Philippine Islands (BPI) cover heavy trucks. You can apply for the said loan offer at any of the 800 branches of the bank nationwide.
Who are qualified? Like in most loans, there are eligibility requirements in applying for this loan offer. To be eligible to apply for car loan, the borrower must be:
- at least 21 years old upon the filing of the loan application
- not more than 70 years old when the loan hits its end term
- earning a minimum household income of Php 30,000.00
Loanable Amounts::
The bank has not posted the range of the loanable amounts for a truck loan but we’ll surely keep you posted once there are available information. Meanwhile, the amount that the bank can lend is surely relative to the capacity of the borrower and the amount needed.
BPI Truck Loan Interest Rate for Heavy Trucks:
| Term | Add-On Rate | Effective Rate |
| 12 | 7.68% | 13.89% |
| 18 | 11.08% | 13.56% |
| 24 | 14.67% | 13.50% |
| 36 | 22.51% | 13.70% |
| 48 | 31.27% | 14.04% |
Requirements:
There are documents that you must submit in applying for an auto loan to the Bank of the Philippine Islands (BPI). To check on the documentary requirements set by the bank, feel free to visit – BPI CAR LOAN REQUIREMENTS: What You Need To Prepare in Applying.
You may also visit – BPI LOANS: List of Loan Offers by Bank of the Philippine Islands (BPI)