List of BPI Cash Loan Requirements for Employed Individuals
BPI CASH LOAN REQUIREMENTS – If you are an employed individual, listed here are the qualifications and the documents required for application.
Among the many banking entities in the Philippines, one of the most popular and has millions of clients across the nation is the Bank of the Philippine Islands. More popularly called BPI, the bank has several loan offers for the public.
One of the loan offers of the bank is the Personal Loan, a multi-purpose cash loan offer. You may apply for it to obtain extra funds for personal purchases, travel, event hosting, paying for the educational fees, etc.
The Personal Loan offer of BPI is open not only for the salaried individuals but as well as non-salaried individuals. In the case of the self-employed individuals, here are the qualifications that a loan applicant must meet in applying for the loan offer:
- a Filipino citizen
- 21 years old and above upon the loan application filing
- 60 years and below upon the date of the loan maturity
- the borrower must be the owner or the majority stockholder with at leat 40% stake in the business and earning a gross monthly income of at least P50,000 per month. Furthermore, the business must be in a profitable operation for at least two (2) years already with one (1) trade reference.
What are the documents that the Bank of the Philippine Islands require in applying for the Personal Loan offer? Here are the BPI cash loan requirements for the self-employed individuals who want to apply for the loan offer:
- duly-accomplished and signed BPI Personal Loan Application Form
- one (1) government-issued ID bearing photo of borrower
- latest audited financial statements
- Department of Trade and Industry (DTI) Business Registration or
- Securities Exchange Commission (SEC) Registration Certificate
There is a long list of acceptable IDs that you can choose from in applying for the BPI Personal Loan offer. Here are the IDs accepted by the bank:
- Passport
- Professional Regulatory Commission (PRC) ID
- Driver’s License
- Postal ID
- Voter’s ID
- Government Service Insurance Sysytem (GSIS) e-Card
- Taxpayer Identification Number (TIN)
- Social Security System (SSS) card
- Overseas Workers Welfare Administration (OWWA) ID
- Senior Citizen card
- Government office and Government-owned and Controlled
- Overseas Filipino Worker (OFW) ID
- ID issued by the National Council on Disability Affairs
- Corporation (GOCC) ID (e.g., Armed Forces of the Philippines (AFP), Home Development Mutual Fund (HDMF) IDs)
- Integrated Bar of the Philippines (IBP) ID
- PhilHealth Health Insurance Card ng Bayan
- 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)
- National Bureau of Investigation (NBI) Clearance
- Barangay Certification
- Police Clearance
- Alien Certificate of Registration / Immigrant Certificate of Registration (notapplicable for Housing Loan)
- PhilSys Digital ID
- Department of Social Welfare and Development (DSWD) Certification
- Seaman’s Book
- Printed ePhilID
- Professional ID cards issued by Maritime Industry Authority (MARINA)
The Bank of the Philippine Islands implement a one-time processing fee in applying for the Personal Loan offer. The charges for the Documentary Stamps Tax applies on loans with loan amounts that are Php 250,000 and above.
- one-time processing fee — Php 1,500 (to be deducted from the loan proceeds)
- Documentary Stamps Tax — Php 1.50 for every Php 200.00 for loans above Php 250,000 or loans for business purposes