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BPI auto loan for october 2023

Get an auto loan at BPI. On 02.10.2023 there are 1 options are available to you. Increase your chances of getting a loan - fill out an online application with a free credit rating check.
Offers: 1
Auto Loan
Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
from ₱200,000

Effective interest rate on the product

9.28% - 16.72% per year

Loan term for the financial product

12 - 60 months
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Submit your loan application online

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BPI auto loan for october 2023

With a BPI auto loan, you can purchase a new or used car with an opportunity to use your savings on a BPI savings account as a holdout to serve as the down payment. If you don't have a BPI banking account, you will have to upload some documents, depending on your income source. Flexible repayment options and included insurance premium solutions are available. The minimum loan amount is P500,000.

Types of BPI Auto Loans

  1. BPI Auto Loan offers loan terms from 12 to 60 months; a down payment of 15 — 70% of the vehicle selling price is necessary. Loan payments are fixed monthly repayments without any price increases. Available for both new and pre-owned cars, big bikes, and trucks.
  2. Zero Cash-Out auto loan does not require you to withdraw your cash for a down payment: a minimum of 20% of the vehicle's selling price will be held from the client's Time Deposit, Savings, or Current account as the down payment. You won't lose your interest, as well. A loan term is 60 months.

This car loan is available for individual applicants who want to buy a new passenger car for personal use.

  1. The Step Up PayPlan auto loan allows a borrower to control loan payments: pay less during the early years of the loan term and slowly increase payments amount for the following years. As a result, the amount of the monthly repayment can be 10% lower than the monthly amortization of a regular Auto Loan. This loan is available for individual applicants who borrow a new passenger car for a 5-year term with a minimum down payment of 15%. The loan amount can reach up to P800,000.
  2. A Multiyear Protect auto loan lets a borrower pay a car loan and insurance premium in one fixed monthly payment with a Zero Cash-out on insurance. An individual applicant may borrow a new passenger car for 36 — 60 months.

How to apply for a BPI Auto Loan?

  1. Visit the BPI website and click the «Apply now» button under the chosen product.
  2. Fill out the application form. Input vehicle information: condition (new or used), name, model, year, price, the amount of down payment, term in months from 12 to 60, and preferred dealer. You will see a potential loan amount.
  3. Enter the borrower's information: name, date of birth and civil status, home address, mobile number, email address, income, and employment details.
  4. Provide the details about your spouse or co-borrower: personal information, address, email, phone number, income, and employment information.
  5. Enter an account number if you are an existing BPI / BPI Family Savings Bank customer. If you don't have an account with BPI, provide your ID and income documents.
  6. Select if you are related to BPI, its subsidiaries, and affiliates. Review the Terms and conditions.

Applications are processed during business hours: from 8:30 am to 5:30 pm, Monday — Friday.

Also, you could apply via a BPI or BPI Family Savings branch.


To be eligible for a BPI Auto loan, you must:

  • Be a Philippines citizen or provide a co-applicant who is a Philippines citizen and is in the Phils
  • Have a BPI/ BPI Family Savings Bank account or be ready to add two valid IDs and income verification documents: 3 months' payslips, the Latest Income Tax Return, a Certificate of Employment for locally employed, and special documents for ex-pats, self-employed and doctors.
  • Have a minimum monthly income of 30,000 (for a Multiyear Protect — 40,000).

Pros and cons


  • Down payment could be held out from the deposit account
  • New and used cars
  • Various loan terms
  • Online application is available
  • Spouses may fill out one application
  • Flexible payment plan with lower payments at the start


  • Must provide income-supporting documents
  • Minimum income required
  • Online application review during business hours only

How to make a payment?

Monthly payments are automatically deducted from your BPI or BFSB deposit account through an Automatic Debit Arrangement (ADA). You may always view your next due date and amount and make a payment via BPI Online. If you apply for a Multiyear Protect, your insurance premium will be debited from the preset account, with a loan payment and any applied fees. You may also pay at any BPI branch.


What are the interest rates on BPI's brand-new car loans?

The interest rates on brand-new car BPI loans are the following:

Add-on rate:

  • 12 months - 5.14%

  • 18 months - 7.51%

  • 24 months - 11.01%

  • 36 months - 17.32%

  • 48 months - 23.54%

  • 60 months - 30.25%

Effective rate:

  • 12 months - 9.36%

  • 18 months - 9.28%

  • 24 months - 10.24%

  • 36 months - 10.68%

  • 48 months - 10.78%

  • 60 months - 10.93%

What are the interest rates on BPI second-hand car loans?

The interest rates on second-hand car BPI loans are the following:

Add-on rate:

  • 12 months - 7.89%

  • 18 months - 11.87%

  • 24 months - 16.08%

  • 36 months - 24.80%

  • 48 months - 34.20%

  • 60 months - 44.32%

Effective rate:

  • 12 months - 14.26%

  • 18 months - 14.50%

  • 24 months - 14.75%

  • 36 months - 15.00%

  • 48 months - 15.25%

  • 60 months - 15.50%

What is the down payment for a BPI auto loan?

  • Brand new vehicle - as low as 15%

  • Second-hand unit - as low as 30%

  • Brand new big bike - as low as 30%

  • Brand new truck - as low as 30%

What are the eligibility requirements for a BPI auto loan?

You can apply for a BPI auto loan if you are a Filipino citizen aged between 21 to 65 or a foreign national married to a Filipino. The household income must be over P30,000. Business entities, for example, corporations and partnerships, can also apply for an auto loan.