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.
Are you in need of some extra funds? There are loan offers that you can turn to. In the Philippines, one of the trusted loan-providing entities is the Bank of the Philippine Islands or more popularly called BPI.
BPI has several loan offers for the Filipinos. One of the offers that employed individuals may apply for is the Personal Loan, a multi-purpose cash loan offer. Here are the qualifications set by the bank for eligibility to apply for the 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
- proof of income:
- the loan applicant must have a minimum gross income of P20,000 per month.
In applying for the loan offer, there are documents that you need to prepare and submit to the bank. For locally-employed individuals, here are the BPI cash loan requirements that you need to submit for application:
- duly-accomplished and signed BPI Personal Loan Application Form
- one (1) government-issued ID bearing photo of borrower
- three (3) months worth of pay slips in original copies
- latest Income Tax Return (BIR Form 2316)
Which ID does the Bank of the Philippine Islands accept in applying for the Personal Loan offer? Here is a list of the acceptable IDs in applying for the bank loan:
- 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)
Be prepared that the Bank of the Philippine Islands, like what other banks do, also implement a processing in applying for the loan. There are also charges for the Documentary Stamps Tax for 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