Steps on How To Apply for BPI Cash Loan Application Process
HOW TO APPLY FOR BPI CASH LOAN – Are you interested to apply for the Bank of the Philippine Island’s Personal Loan offer?
The Bank of the Philippine Islands, more popularly called BPI, is one of the banking entities that you may turn to if you are in need of a multi-purpose cash loan offer. Officially, the offer is called Personal Loan.
The said BPI cash loan offer is open for employed and self-enployed individuals as well as allottees. You may apply for the loan offer to finance an event, make some home improvements, fund a business expansion, get your car repaired, etc.
One of the best features of the cash loan offer of BPI is that it is collateral-free — meaning you don’t need to present a property to be used as the collateral that the bank can take away in the event that you failed to repay the loan within the terms.
How to apply for the BPI Cash loan offer? You can do it over-the-counter or online. If you wish to do it over-the-counter, here are the steps that you may consider for application:
- Step 1 — Check your eligibility to the loan offer. You must be of legal age, employed or self-employed, and living or working in an area that is within the service region of BPI.
- Step 2 — Prepare your documents. Make sure to have the complete list of documents needed for the loan application.
- Step 3 — Go to a branch of BPI nearest to your residence or workplace. Submit your documents to the bank. Wait for instructions regarding the interview.
The loan processing and evaluation may take between five (5) to seven (7) working days. An update may be sent through the SMS you provided in the application form. You can monitor your loan application by sending a message or calling the 24-hour BPI Contact Center at (+632) 889-10000 for updates.
If you don’t have the luxury of time to apply for the loan offer personally at a branch of the bank, you can do so online. Here are the steps on how to apply for the BPI cash loan offer online:
- Step 1 — Fill out the online application form.
- Step 2 — For successful submission of application, an email confirming that your application has been received will be sent to you. You can check your spam folder in case you could not find the message in your inbox.
- Step 3 — Wait for a notification or update regarding the status of your loan application.
The Bank of the Philippine Islands charges a one-time processing fee of Php 1,500 which will be deducted from your loan proceeds. If you are an employee of a business or company that is accredited to the bank, you may also consider the BPI Salary Loan offer.
