BPI Big Bike Loan Interest Rate based on Term
BPI BIG BIKE LOAN INTEREST RATE – Here’s a guide on the interest rates implemented by the Bank of the Philippine Islands under its offer.
In the country, one of the banks with a motorcycle loan offer is the Bank of the Philippine Islands. It is more popularly called BPI and is one of the biggest banks in the country in terms of asset and also one of the most popular banking entities in the country.
The Big Bike Loan offer is open for individuals who are at least at least 21 years old upon the loan application but not more than 65 years old upon the loan maturity. The borrower must be earning a minimum household income of Php 40,000.
Truth be told that despite the variety of car models nowadays, a lot of people are still into motorcycles and big bikes. They are like toys for the big boys as motorcycle-riding is a hobby of countless men acroass ages. It is a way for unloading stress for many people, too.
If you are planning to get a big bike under a loan, one of the offers that you may consider is the Big Bike Loan of the Bank of the Philippine Islands. It is open to finance units that are at least Php 200,000 in price.
Under the loan offer, the amount borrowed may be repaid from twelve (12) months up to 36 months. With regards to the BPI Big Bike Loan interest rate implemented by the bank this year 2023, it is dependent on the loan term.
Here is the BPI Big Bike Loan interest rate under each term:
Term | Add-on rate | Effective rate |
12 | 8.83% | 15.92 % |
18 | 12.57% | 15.33% |
24 | 17.54% | 16.02% |
36 | 27.84% | 16.72% |
To apply for the offer, there are documentary requirements for BPI Big Bike Loan application that you must submit. All loan applications are subject to the approval of BPI.