Guide on BPI Motorcycle Loan 2023 — How Much You May Borrow
BPI MOTORCYCLE LOAN 2023 – Detailed below are the minimum and maximum loanable amounts under the Bank of the Philippine Islands’ loan offer.
Are you planning to purchase a big bike under a loan offer? Truth be told that while motorcycling may be scary to some people, it is adventure and stress reliever to many others most especially men. In fact, there are individuals who really allot time for it and they are willing to spend thousands and be paying for loans for a new big bike.
In the country, one of the banks that you may turn to if you want to purchase a big bike under a loan offer is the Bank of the Philippine Islands. More popularly called BPI, the popular banking company has over 800 branches across the nation wherein clients may apply for the BPI Motorcycle Loan 2023 or the Big Bike Loan.
Under its loan offer, the Bank of the Philippine Islands has set a few eligibility requirements for application. Here are the qualifications that the borrower must meet to be eligible to apply for the loan offer:
- at least 21 years old upon the loan application
- not more than 65 years old upon the loan maturity
- earning a minimum household income of Php 40,000
With regards to the BPI Motorcycle Loan 2023 loanable amounts, the bank has generously posted the minimum and maximum amounts it allow for borrowing. Here’s a guide on how much you may borrow:
- Minimum Loanable Amount — Php 100,000
- Maximum Loanable Amount — up to 70% of the purchase price of the vehicle
According to the Bank of the Philippine Islands, the minimum unit price under the loan offer is Php 200,000. The borrowed amount is payable from one (1) year up to three (3) years.
With regards to the BPI Big Bike Loan interest rate, it depends on your chosen loan term. Both the add-on interest rate and the effective rate are dependent on whether you will repay the loan in 12, 18, 24, or 36 monthly installments.
In applying for the BPI loan offer which has helped a lot of people achieve their dream bike, there are documentary requirements for the BPI Big Bike Loan application that you must secure and submit to the bank.
As mentioned, the Bank of the Philippine Islands has over 800 branches nationwide. Thus, you can really apply for the loan offer at a branch nearest to your workplace or residence.