BPI Regular Loan Vs. Step Up PayPlan Comparison
BPI REGULAR LOAN – Here is a guide on the differences between the regular loans offered by the Bank of the Philippine Islands (BPI) and the Step Up PayPlan.
One of the trusted and most prominent banks in the Philippines is the Bank of the Philippine Islands. More commonly called as BPI, it has a lot of offers for the public.
BPI got different types of accounts – savings accounts, checking accounts, time deposit accounts, and accounts for overseas Filipino workers. The bank also offers credit cards, debit cards, and prepaid cards.
There are also several types of BPI loans that you may apply for. It can help you obtain extra cash for a purpose, put up a business, or make big purchases like buying a house or a car.
One of the many things that a lot of people like about BPI is that its offers often come with treats. One of it is the Step Up PayPlan which covers its auto and housing loan offer.
The Step Up PayPlan can help the borrower adjust to the monthly payments by starting from low monthly amortizations. Here is a comparison of the BPI regular loan and the loans under the Step Up PayPlan offers:
Amount of Monthly Payment/Amortization
- Regular Loan – Fixed equal monthly payments for the duration of the loan term. No annual price increase.
- Step Up PayPlan – Amount of monthly payment varies every year, starting with the smallest value on the first year, and lightly steps up each succeeding year.
Product Benefit
- Regular Loan – Budget your monthly expenses ahead of time and set aside the same fixed amount from the start to the end of your loan term.
- Step Up PayPlan – Plan and control how much you pay each year so you can free up your funds for new opportunities or other expenses.
Term or Duration of Loan
- Regular Loan – With available options for short and long payment terms.
- Step Up PayPlan – 5 years for Auto Loan 10/15/20 years for Housing Loan.
Price
- The same as published rate in both BPI Regular Loan and BPI Loans under Step Up PayPlan.
Do you want to check on the loans under the Step Up PayPlan offer? You may visit – BPI Loan “Step Up PayPlan” – Full List of Loans Under This Plan Offer.
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