Guide on How Much You Can Borrow Under the BPI Seafarer Personal Loan
BPI SEAFARER PERSONAL LOAN – Here is a guide on how much you can borrow under the seafarer loan offer of the Bank of the Philippine Islands.
Aside from the salary, home, and auto loans, there are banks that have other personal loan offers for the public. One of them is the Bank of the Philippine Islands or more commonly known as BPI.
BPI got several loan offers for seafarer including a personal loan that can serve several purposes. It is open to fund a payment for the school tuition fee, a purchase of appliance, a travel, an event celebration, etc.
On its official website, the Bank of the Philippine Islands has posted details regarding the BPI Seafarer Personal Loan. It cited the requirements in applying and as well as the minimum and maximum loanable amounts under this loan offer.
According to the bank, the following are needed in applying for the personal loan offer for seafarers:
- two(2) valid government-issued identification cards (IDs) bearing photos
- proof of income such as:
- the latest and unexpired employment contract signed by the Philippine Overseas Employment Administration (POEA); or
- employment contract with boarding date
With regards to how much you can borrow under the BPI Seafarer Personal Loan, here are the minimum and the maximum loanable amounts under it:
- Minimum Loanable Amount – Php 20,000.00
- Maximum Loanable Amount – Php 300,000.00
According to BPI, with regards to the loan term, it must be one month less than the employment contract of the borrower. Also, the first monthly amortization would be deducted from the proceeds of the loan. A convenience mode of payment is made available by the bank through the automatic debit facility.
Are you interest to apply for the said loan offer? You may visit – BPI SEAFARER LOAN – How To Apply & Requirements in Applying.
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READ ALSO: BPI LOAN OFFERS – Full List of BPI Personal & Business Loans
