List of BPI Cash Loan Requirements for Allottees
BPI CASH LOAN REQUIREMENTS – If you are an allottee, listed here are the qualifications and the documents required for application.
The Personal Loan offer of the Bank of the Philippine Islands is not only open for the salaried Filipino individuals in the country and abroad but as well as allottees. Are you one of those who regularly receive remittance from someone abroad?
The Personal Loan offer of BPI is a multi-purpose cash loan offer that can attend to different needs. The bank has set both qualifications and a list of BPI cash loan requirements for application.
Who are qualified to apply for the cash loan offer? Here are the eligibility requirements set by the bank in applying for the Personal Loan offer of the Bank of the Philippine Islands:
- 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:
- If employed, the loan applicant must have a minimum gross income of P20,000 per month.
- If self-employed, 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 BPI cash loan requirements for application? There are documents that an allottee must submit in applying for the loan offer of the Bank of the Philippine Islands. Here are the requirements set by the bank for allottees:
- duly-accomplished and signed BPI Personal Loan Application Form
- one (1) government-issued ID bearing photo of borrower
- proof of remittance
- most recent and unexpired POEA validated information sheet or recent employment contract or consularized COE
You need to submit an ID in applying for the Personal Loan offer of the Bank of the Philippine Islands. Here is a guide on the acceptable IDs in applying for the loan offer of the reputable banking entity:
- 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 charges a processing fee and documentary stamps tax under the loan offer. Here is a guide on the fees set by the bank:
- 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