Guide on the Requirements for BPI Auto Loan 2023 Application Process
REQUIREMENTS FOR BPI AUTO LOAN 2023 – Here are the documents required by BPI in applying for its Auto Loan offer.
Are you one of the people who are planning to get the car you want soon? You might like to do it under a loan offer. One of the banks that you may turn to is the Bank of the Philippine Islands, more popularly called BPI.
Aside from the BPI Personal Loan 2023 offer, the bank also offers an Auto Loan. It covers both brand new and pre-owned vehicles. The bank boasts its loan offer with low interest rates, low downpayment, flexible loan terms, and very accessible. It is offered in more than 800 branches of the bank nationwide.
The Auto Loan offer of the Bank of the Philippine Islands is open to finance the purchase of a brand new and pre-owned vehicles but it can also function as a multi-purpose loan using the vehicle as a collateral.
With regards to the eligibility requirements for BPI Auto Loan 2023, to be eligible for the loan, the borrower must meet the following qualifications:
- 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
The Bank of the Philippines has also set a list of the documents needed in applying for the offer. Here are the documentary requirements for BPI Auto Loan 2023 application:
For Locally Employed Applicants:
- duly-completed BPI Auto Loan Application Form
- two (2) valid Identitifcation Cards
- If married, both spouses must sign on the application form
- If with co-borrower or co-mortgagor, separate application form is needed
- Latest Certificate of Employment indicating salary, position and length of service with authorization to verify
- Latest 1 month pay slip or 3 months bank statement of payroll account with authorization letter to verify
For Commission-Based Applicants:
- duly-completed BPI Auto Loan Application Form
- two (2) valid Identitifcation Cards
- If married, both spouses must sign on the application form
- If with co-borrower or co-mortgagor, separate application form is needed
- Latest ITR
- Certificate of employment stating commissions received prior year/months/period and Commisions Receivable, if any
- Bank statement where commision is credited, with authorization letter to verify
For Self-Employed Applicants:
- duly-completed BPI Auto Loan Application Form
- two (2) valid Identitifcation Cards
- If married, both spouses must sign on the application form
- If with co-borrower or co-mortgagor, separate application form is needed
- DTI Registration or Mayor’s Permit
- Latest ITR with financial statements
- Working account (6mos) with authorization letter to verify
- Trade references with complete contact information
- Authorization letter to conduct trade verification
For Foreigner Applicants:
- duly-completed BPI Auto Loan Application Form
- two (2) valid Identitifcation Cards
- If married, both spouses must sign on the application form
- If with co-borrower or co-mortgagor, separate application form is needed
- Valid Visa or Alien Certificate of Registration (ACR)
For Pensioner Applicants:
- duly-completed BPI Auto Loan Application Form
- two (2) valid Identitifcation Cards
- If married, both spouses must sign on the application form
- If with co-borrower or co-mortgagor, separate application form is needed
- Certificate of Pension, with authorization letter to verify
- Bank statements of pension account (3 months), with authorization letter to verify
For Overseas Filipino Workers (OFWs):
- duly-completed BPI Auto Loan Application Form
- two (2) valid Identitifcation Cards
- If married, both spouses must sign on the application form
- If with co-borrower or co-mortgagor, separate application form is needed
- Latest Contract, with authorization letter to verify
- Proof of bank remittance, with authorization letter to verify
- Details of crewing manager for seafarers
For Applicants Practicing Professions with Own Business:
- duly-completed BPI Auto Loan Application Form
- two (2) valid Identitifcation Cards
- If married, both spouses must sign on the application form
- If with co-borrower or co-mortgagor, separate application form is needed
- Working account with authorization letter to verify
- Latest ITR with AFS
- List of major trade references with complete details
