Guide on Your Eligibility To Apply for BPI Loan If You Don’t Meet the Income Requirement
BPI LOAN – Here is a guide on whether you are still eligible to apply for the Bank of the Philippine Island’s Personal Loan offer if you don’t meet the income requirement or not.
The Bank of the Philippine Islands (BPI) is one of the banks in the Philippines that offer loans to the public. When it comes to these cash assistance offers, there are different kinds that you can choose from.
You may apply for the personal loan offer, the auto loan offer, the home loan offer, or the business loans. Each serves different purposes with the personal loan being the most flexible one.
Under the said BPI loan, you may apply for a cash assistance in funding an event, paying for the utility bills, making a big purchase, etc. It is not only open for those who have BPI accounts but as well as for the individuals who have yet to open an account with the bank.
Under this loan offer, you may borrow from Php 20,000.00 to Php 2,000,000.00 depending on the bank’s evaluation and approval. Usually, the processing of the loan takes a maximum of seven(7) days and the proceeds are released withing two(2) working days from the signing date.
- Minimum Loanable Amount – Php 20,000.00
- Maximum Loanable Amount – Php 2,000,000.00
BPI has set eligibility qualifications in applying for the said offer. The applicant must be:
- at least 21 years old but not more than 60 years old upon the maturity of the loan
- a Filipino citizen
- working or living within 30 kilometers from a BPI branch
Aside from the aforementioned eligibility requirements, the bank may implement an income requirement in applying for the loan offer. It has not posted details about it. Meanwhile, most likely, you want to know if you can still apply for the said BPI loan in case your monthly income does not meet the standard.
According to the bank, you may still submit your application for the loan as all applications are subject to the evaluation and approval of the bank. The firm also encourages the applicants to take the Loan Readiness Test.
For a guide on how to apply for the said offer, 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
