Guide on the BPI Home Loan Offers – the Regular Housing Loan Vs. the “Step Up PayPlan” Loan
BPI HOME LOAN – Here is a comparison of the regular housing loan offer of the Bank of the Philippine Islands and the “Step Up PayPlan”.
Most banks in the Philippines got housing loan offers. One of them is the Bank of the Philippine Islands. More commonly called as BPI, it is one of the biggest banking firms in the country.
BPI got a regular loan for those who want to purchase a vacant lot, a house and lot, or any residential property. The good thing now is that the bank has a promo – the “Step Up PayPlan”.
The “Step Up PayPlan” loan promo aims to assist aspiring borrowers who are hesitant as they may not be able to cope with the monthly amortization now in case they apply for a home loan.
Meanwhile, there are differences between the two (2) BPI Home Loan offers – the regular housing loan and the “Step Up PayPlan” loan. According to the bank, here are the features of both:
Comparison Between BPI Home Loan Offers “Regular Housing Loan” & “Step Up PayPlan” Loan
Monthly Amortization:
- Regular Housing Loan – Fixed equal monthly payments for the whole loan term.
- Step Up PayPlan – Lowest monthly payments in the first year and increases 5-10% annually.
Loan Purpose:
- Regular Housing Loan – Home Acquisition, Home Construction, Home Renovation
- Step Up PayPlan – Home Acquisition
Loan Term / Tenor
- Regular Housing Loan – From one (1) year up to twenty (20) years.
- Step Up PayPlan – Minimum of ten (10) years.
Available Period for Fixed Interest Rate
- Regular Housing Loan – You can locked-in the interest for one (1) up to twenty (20) years.
- Step Up PayPlan – You can locked-in the interest rate for three (3) years, five (5) years, or ten (10) years.
Are you interested in applying for the BPI Step Up PayPlan offer? You may visit this for a guide – BPI Step Up Housing Loan – How To Apply For this BPI Loan Offer Online.
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READ ALSO: BPI LOANS: List of Loan Offers by Bank of the Philippine Islands (BPI)