Guide on the Possibility of BPI Loan Re-availment
BPI LOAN RE-AVAILMENT – Are you wondering if you can apply for another loan to the Bank of the Philippine Islands (BPI) if you have an existing one?
In the Philippines, one of the banks that offer personal loans to the public is the Bank of the Philippine Islands or more commonly known as BPI. This type of loan is well sought-after due its flexibility in terms of the purposes it serves.
You may apply for the BPI Personal Loan to fund a project, to pay for the utility bills, to travel, to fund a celebration, to make a big purchase, etc. There is no need for a collateral and you can pay for the loan for up to 36 monthly installments or three(3) years.
Due to the wonderful features of the BPI Personal Loan and the many purposes it can serve, the desire to re-apply although you have an existing loan with the bank is just around the corner. However, is it possible to gain the bank’s approval again?
Based on the official website of the bank, with regards to the BPI Loan Re-availment, it is possible. However, there are certain conditions and it depends on the status of the existing loan of the borrower.
The bank stated that they highly recommend that those who will apply for the BPI loan re-availment have already paid at least half of their personal loan’s outstanding balance. Certain requirements may be requested by the bank for updated information.
On the other side, if your existing loan is maturing or about to be fully paid, you can renew your account but you will still need to comply with the requirements. The bank secures updated information about the borrower thus submission of requirements will still be applied.
With regards to how much you can borrow under the BPI Personal Loan offer, you may visit – BPI PERSONAL LOAN – Updated Minimum & Maximum Loanable Amounts Under It.
For a guide on how to apply for a personal loan and the requirements that you will need, you may visit – BPI PERSONAL LOAN: How To Apply, Requirements In Applying.
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READ ALSO: BPI LOAN OFFERS – Full List of BPI Personal & Business Loans