Guide on BPI Salary Loan Features & Application Process
BPI SALARY LOAN – The Bank of the Philippine Islands launched a program to widen the options of the employees of BPI-accredited companies.
In the country, there are now banks that offer accreditation to eligible companies and business firms. One of these is the Bank of the Philippine Islands or more popularly called BPI. It aims to partner with businesses that want to ready extra cash need solutions for its employees.
Truth be told that there are inevitable times when the salary fail to make it into the payday. There might be unforeseen financial emergencies like medical situations or bills that nee to be urgently paid which came in the way. This is where the advantage of company accreditations to banks take place.
If the company is accredited to the bank, the employees may avail the exclusive offers of banks which often includes a multi-purpose cash loan. In the case of the Bank of the Philippine Islands, it offers the BPI Salary Loan.
Under the offer, the employee of an accredited company may borrow up to thrice his/her monthly income or up to Php 1 million. The borrowed amount is payable in 12, 18, 24, 30, or 36 monthly installments under low monthly add-on rates.
How to apply for the BPI Salary Loan offer? You just have to prepare the documentary requirements that are needed for submission to your company’s HR representative. Here are the documents that you must submit to your HR:
- duly-accomplished and signed BPI Salary Loan Application Form
- latest payslips (past 3 months) or ITR (BIR Form 2316) or Certificate of Employment
- valid Philippine government-issued ID or company ID
- Passport
- Driver’s License
- Professional Regulatory Commission (PRC) ID
- Postal ID
- Voter’s ID
- Taxpayer Identification Number (TIN)
- Government Service Insurance Sysytem (GSIS) e-Card
- Social Security System (SSS) card
- Senior Citizen card
- Overseas Workers Welfare Administration (OWWA) ID
- Overseas Filipino Worker (OFW) ID
- Government office and Government-owned and Controlled
- Corporation (GOCC) ID
- ID issued by the National Council on Disability Affairs
- Integrated Bar of the Philippines (IBP) ID
- Company IDs issued by private entities or institutions registered with or supervised or regulated either by the Banko Sentral ng Pilipinas (BSP), Securities and Exchange Commission (SEC) or Insurance Commission (IC)
- PhilHealth Health Insurance Card ng Bayan
- National Bureau of Investigation (NBI) Clearance
- Police Clearance
- Barangay Certification
- Seaman’s Book
- Alien Certificate of Registration / Immigrant Certificate of Registration
- Department of Social Welfare and Development (DSWD) Certification
- Professional ID cards issued by Maritime Industry Authority (MARINA)
- PhilSys Digital ID
- Printed ePhilID
Aside from the loan offer for the employees of the companies accredited to the Bank of the Philippine Islands, the bank also has a special cash loan offer for seafarers.
