Guide on BPI Personal Loan 2023 Application Process
BPI PERSONAL LOAN 2023 – You can check the comprehensive guide below on how to apply for the BPI cash loan offer and the requirements.
In the Philippines, one of the trusted banks that you can turn to for loan offers is the Bank of the Philippine Islands. It is more popularly called BPI and it has several branches across the nation.
BPI actually has several loan offers. If you are looking for a multi-purpose one, you may turn to the BPI Personal Loan 2023, a cash loan that you can apply for for multiple needs. You can check the simple application process below.
There is an easy process in applying for BPI Personal Loan 2023 offer. Here are the steps that you may follow to apply:
Are you qualified?
Check the qualifications in applying for the loan offer. To be eligible, here are the eligibility requirements for application:
- at least 21 years old upon the loan application and not more than 60 years old upon the loan maturity
- a Filipino citizen
- working or residing within 30 kilometers from the nearest BPI branch
Submit the Requirements
There are documents that you must submit in applying for the BPI Personal Loan 2023. The lists vary depending if you are employed or self-employed.
If you are employed:
- duly-accomplished BPI Personal Loan Application Form
- valid Philippine government-issued ID bearing photo and signature
- latest three (3) months payslips or latest Income Tax Return (ITR) BIR Form 2316
If you are self-employed:
- duly-accomplished BPI Personal Loan Application Form
- valid Philippine government-issued ID bearing photo and signature
- Audited Financial Statements (AFS) in the recent three (3) years or latest Income Tax Return (ITR)
- Department of Trade and Industry (DTI) or Securities and Exchange Commission (SEC) Business Registration Certificate
Undergo an Interview
You will have to undergo a short interview as part of your loan application process. This part is present in almost all loan offers as the lender has to talk to the borrower for verification of the details provided and evaluation of his/her capacity.
Sign the Contract / Agreement
Once approved, you will have to sign the contract or the loan agreement. BPI will also discuss the important matters like your monthly dues, the due date, the late payment penalty if you missed to pay your loan amortization on time, etc.
Claim the Money
The final part of the process is the claiming of your loan proceeds. It depends on which disbursement method was agreed upon.
With regards to the amount that you may borrow under the BPI cash loan offer 2023, it vary based on the client’s capacity. Meanwhile, the bank has provided the possible range of the loanable amounts.
In case you opt for the BPI Personal Loan renewal in the future, it is allowed by the Bank of the Philippine Islands under certain terms. You will have to submit updated requirements if you want to renew your loan.