Guide on BPI Property Equity Loan Features and Application
BPI PROPERTY EQUITY LOAN – Here is a guide on the important details about the loan offer of the Bank of the Philippine Islands.
One of the most inevitable things in life is needing some extra funds for something whether it is for an emergency, for funding a project, for travel, etc. In the case of individuals who own a residental property, you may use the value of your property to obtain some funds.
In the country, one of the entities with this special offer is the Bank of the Philippine Islands. It has the BPI Property Equity Loan that has helped countless individuals obtain funds using their residential property as the collateral.
The bank boasts its loan offer with low interest rates, reliable loan transaction, and easy application process. The loan offer is also widely accessible nationwide.
Under the loan offer, the client may borrow at least Php 400,000 and up to 90% of the value of the residential property. The loan is payable for up to five (5) years with varying interest rates based on the fixing period chosen by the borrower.
Here is a guide on the interest rates that the Bank of the Philippine Islands implement under the loan offer:
| Fixing Period (Years) | Rate |
|---|---|
| 1 | 8.00% |
| 2 | 8.25% |
| 3 | 8.75% |
| 4 | 9.00% |
| 5 | 9.25% |
To qualify for the loan offer, the loan applicant must be at least 21 years old at the time of the loan application but not more than 65 years old upon the loan maturity. The minimum household income required by the bank for eligibility to the loan offer is Php 40,000.
