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BPI home loan for October 2022 in the Philippines

Get a home loan at BPI. On 02.10.2022 there are 1 options available to you. Increase your chances of getting a loan — fill out an application with a free credit rating check.

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Home Loan
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from ₱400,000

Effective interest rate on the product

6.75% - 12% per year

Loan term for the financial product

1 - 25 years
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Interest rates on loans in the Philippines

According to the guidelines for Bangko Sentral ng Pilipinas Circular No. 1133, Series of 2021, on the ceiling/s of interest rates and other fees charged by lending companies, financing companies, and their online lending platforms, the maximum nominal interest rate for unsecured loans is 6% per month (0,2% per day), and the maximum effective interest rate is 15% per month (0,5% per day). The caps apply to unsecured loans of no more than ₱10000 and payable within four months.

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BPI home loan for October 2022

Bank of the Philippine Island (BPI), was incorporated on January 4, 1943, as a domestic commercial bank. The bank became public on October 12, 1971. It is one of the reputable, reliable, and trustworthy names in the banking and financial industry in the Philippines. It has a wide range of specialized financial products and solutions, from consumer banking and lending to asset management and investment banking.

What is a BPI loan?

The pandemic has tested our financial readiness, both personally and in a business setting. Some have lost jobs, some are out of cash to pump into their crumbling businesses, take care of personal needs like tuition, home renovations, etc. In cases like these, bank loans may be the best place to go as lenders offer low-interest and sometimes collateral-free loans with very good terms. One of these is the BPI loan. Its loan products have low-interest rates, with offers of reduced rate promos which one may avail to. BPI offers loan amounts ranging from ₱20,000 to ₱5,000,000, an estimated monthly amortization rate of 1.20%, and it comes with flexible loan term options ranging from one to five years.

What are the major types of BPI loans?

BPI majorly offers four types of loans, they are:

BPI personal loan

The bank offers personal loans, which include different categories (BPI personal loan, seafarer loan, and salary loan). They are non-collateral cash loans that you can use for your cash needs.

If you apply for a personal loan, you get extra cash that can be useful in fulfilling your personal needs like home renovation, education, business, travel, etc. These loans are collateral-free and come with a loan amount ranging from ₱20,000 to ₱2,000,000. Once the loan is approved, the cash is deposited directly into your BPI account. It comes with flexible loan terms ranging from 12 to 36 months with an estimated monthly amortization rate of 1.20%. The bank also allows applicants to pay their monthly installments through the BPI automatic debit facility.

Apart from that, the loan proceeds come with a ₱1,500 one-time processing fee, which is deducted from the loan proceeds. An additional documentary stamp tax of ₱1.50 per ₱200 of the loan amount is applicable for loan amounts that exceed ₱250,000. The BPI personal loan also comes with a late payment penalty fee though, which is 5% of the amount due.

BPI auto loan

If you're planning to buy a car but you're not financially able to, then you can consider the BPI auto loan instead of applying for a BPI personal loan. The auto loan offers affordable interest rates and comes with down-payment options starting from 15%, which makes it better than the BPI personal loan. It also comes with a flexible payment term of up to five years. The applicant can use this loan to purchase:

  • Passenger car. If you're thinking of getting a new or second-hand car, or you want to apply for a multi-purpose loan where you will keep your car as collateral, you should consider applying for a BPI auto loan instead of a personal loan. Applicants must pay a compulsory one-time processing fee of ₱1,500. The minimum loan offer here is ₱200,000, with flexible loan term options ranging from 1 to 5 years. The maximum annual contractual rate (ACR) for the loan proceeds ranges from 9.36% to 10.93% per annum, and the estimated monthly amortization rate starts from 5.14%.
  • Luxury bike. BPI auto loan also offers financing options to those who are looking to buy a luxury bike. The minimum loan amount starts from ₱200,000 with flexible loan term options ranging from 1 to 3 years. The maximum annual contractual rate (ACR) for the loan proceeds ranges from 15.92% to 16.72% per annum, and the estimated monthly amortization rate starts from 8.83%. It also comes with a ₱1,500 one-time processing fee.
  • Heavy vehicles. BPI auto loan offers businesses a means to expand their reach by assisting them in purchasing a heavy vehicle. The minimum loan amount is ₱200,000 for both light and heavy trucks with flexible loan term options ranging from 1 to 5 years for light trucks and 1 to 4 years for heavy ones. The maximum annual contractual rate (ACR) for the loan proceeds ranges from 11.88% to 11.94% per annum, and an estimated monthly amortization rate starts from 6.55%. Applicants must pay a one-time processing fee of ₱1,800.

BPI home loan

Getting a home is widely considered a milestone, but sometimes, due to financial restraints, many people cannot reach this landmark. A solution to this is getting on a home loan. The bank describes its BPI home loan as an ideal loan option for earners who have a conservative buying pattern. This is so because their package can be customized based on needs and spending power.

The minimum borrowing amount here is ₱400,000, whereas the maximum is 70% of the appraised value of the property. However, for vacant or residential condominiums, you can borrow a maximum of 60% of the property's appraised value. In some cases though, you can borrow up to 80% of the appraised value of the property whose value is lower than ₱5,000,000. This is only allowed when the applicant is employed and is using the property for occupancy. To qualify for the BPI home loan, the minimum total household income should be ₱40,000. BPI home loan has a maximum annual contractual rate (ACR) ranging from 6.25% to 8.25%.

BPI Ka-Negosyo business loan

This is one of the accessible loans provided by BPI to Filipinos. This loan is not only offered for business startups but even for existing businesses that seek expansion, keeping up and/or increase of productions, and franchising. It has a maximum annual contractual rate (ACR) of 25.60%, with a one-time processing fee of ₱1,500.

The BPI ka-negosyo loan has three categories one can choose from, which are based according to one's purpose or current financial capabilities; these are term loans, credit lines, and franchise loans.

  • Term loan. This loan is for those that want to build a company and are looking for short-term or long-term funding. It is also ideal for existing enterprises that have a long-term plan to expand their business operations. Businesses with at least three years of profitability are qualified to apply for this loan. Apart from that, Filipinos with at least three years of consistent income can also apply for a BPI term loan. The minimum borrowing amount for a BPI term loan is ₱500,000, with the maximum borrowing amount being 70% of the applicant's appraised value asset. The loan also comes with flexible loan term options.
  • Credit line. This can be used if one's business is in need of short-term funding. If you are running a company with fluctuating client demands, then a working capital can be useful for your business. To be eligible for this, your business should record three consecutive years of positive cash inflow. The loan-able amount depends on the credit evaluation, which is done by the bank on your business or collateral. Since this loan is best for short-term needs, you can settle it within a year, but it also comes with flexible loan term options. Borrowers are eligible to renew, depending on the credit assessment. The BPI credit line loan could be received through the insurance of check, ATM withdrawal, EPS transaction, or online fund transfer. The interest rate is 4.5% for 90 days.
  • Franchising loan. If you are looking to enter the franchising business, you can apply for the BPI franchising loan. The minimum loan amount here is ₱100,000, and the maximum loan amount is 60% of the total franchise investment. BPI franchise loan can also be non-collateral and comes with flexible loan term options of one to three years. The loan also comes with a lite payment mode, where the borrower has to pay only the interest amount for the first six months.

How to apply?

Interested borrowers have three ways to apply for a BPI loan:

  1. Loan application through the BPI website.
  2. Loan application through a phone call with a sales agent.
  3. In-person loan application at any BPI branch.

    Steps to apply through the BPI website

    1. Go to the BPI official website.

    2. Navigate to the particular loan you want to apply for.

    3. Download and fill out the application form with details and data, making sure you provide all the required information.

    4. Click on the Submit button.

    5. Send a copy of your documents to the BPI official email address

    6. Check your email for a confirmation message from BPI, stating that it has received your loan application.

    Reference! This application method is limited to some of the loans offered by BPI.

    Steps to apply for a BPI loan through a phone call with a sales agent

    If you don't have an Internet connection or you prefer not to apply online or go to the bank, provided you're a qualified client with a BPI account, you can apply for a loan through inbound (placing a call) or outbound (requesting a call) channels.

    To use the inbound channel, you'll need to call either (0918) 891-1000 or (02) 8-89100-55; a sales representative will then assist you with your loan application.

    Qualified BPI clients or customers can receive an outbound call from a sales agent with an offer to facilitate his or her loan application with the bank. If you get a call from (02) 7795-2500 or (02) 8459-2200, it means that it is from a legitimate BPI agent. Just like applying online, this method is also limited to some of the loans offered by BPI.

    Steps for in-branch loan application

    This is the most popular and the best way to apply for a BPI loan. This method could be used to apply for any of the earlier mentioned BPI loans. You just have to visit any BPI branch closest to you, meet a customer service representative, tell them about the loan you are interested in, and follow their instructions.


    In order to be qualified for a BPI loan, there are some requirements you must meet, though they are different for each loan type.

    Requirements for BPI personal loan application

    You are eligible to apply for a personal loan if you meet all these criteria:

    • You must be a Filipino citizen;

    • You must be at least 21 years old and not more than 60 years old when the loan matures;

    • You must live or work within 30km of the nearest BPI branch.

    To apply for a personal loan, requirements vary for employees/professionals, self-employed individuals, and then overseas workers.

    For employees/professionals, apply for a personal loan if you have the following equired documents:

    • One government-issued ID with your picture clearly shown;

    • Three-month-old payslips (original copy) and/or your latest Income Tax Return or a bank stamp.

    For self-employed individuals, apply for a personal loan if you have the following required documents:

    • One government-issued ID with your picture clearly shown;

    • Audited financial statements, which are for the last three years;

    • Latest income tax return;

    • A copy of your DTI Business Registration and/or SEC Registration Certificate.

    Overseas Filipino workers that want to apply for a personal loan must have:

    • One government-issued ID with their picture clearly shown;

    • POEA contract or an employment contract that has a boarding date (for agency hires);

    • Proof of remittance, POEA OFW Information Sheet and/or POEA Overseas Employment Certificate, employment contract, and consularized Certificate of Employment (for only direct hires).

    Requirements for BPI auto loan

    Eligibility for a BPI auto loan is far different from that of BPI personal loan, you must make sure you have two valid identification cards, and if an applicant is married, they must have their spouse sign on the application form.

    Documents needed in order to be eligible for a BPI auto loan vary based on your occupation.

    Locally employed Filipinos must provide:

    • Three-month-old payslip;

    • Certificate of employment (COE);

    • The latest income tax return (ITR).

    Overseas Filipino workers must provide:

    • Contract/certificate of employment (COE);

    • Crew contract and exit pass which must be validated by POEA;

    • Proof of monthly remittances;

    • Notarized or authenticated special power of attorney which must be in BPI FSB Format.

    Self-employed citizens must provide:

    • Articles of incorporation and then by-laws with SEC registration certificates;

    • G.I.S. (General Information Sheet);

    • Audited financial statements for the last two years;

    • DTI registration;

    • Income tax return with audited financial statements for the last two years;

    • List of trade references (with at least three names with telephone numbers of major suppliers/customers);

    • Bank statements for the last six months.

    Practicing doctors should provide clinic addresses and schedule and income tax return with audited financial statements for the last two years.

    If the applicant lives in a rental property, they are required to provide:

    • Rental or lease contract (which must indicate the name of tenants and rental amounts with complete address or addresses of properties being rented);

    • Photocopy of title (TCT/CCT).

    Requirements for BPI home loan

    For your loan process to be swift, you must make sure that you submit all the needed requirements. You may get a reply from BPI within five working days, provided you have submitted the complete loan documents.

    Here is a list of BPI housing loan requirements and documents that you must fill out and collate:

    • Duly accomplished loan application form

    • Two valid government-issued IDs with the applicant's photo and signature (could be either passport, voter’s ID, or driver’s license)

    • For married applicants, you and your spouse must sign the application form.

    • If you’re borrowing with a co-borrower, you two will be filling out separate application forms.

    • Certificate of Employment (COE), which must show your salary, position, and then the length of service

    • The latest income tax return or ITR for the last two years.

    Apart from this, there are additional requirements (which you can check on the respective loan page) for self-employed applicants who are applying for a loan like the BPI housing loan.

    Requirements for Ka-Negosyo loan

    • Must be a Filipino citizen of legal age but not older than 65 years old upon maturity of the loan.

    • Must be an entrepreneur with at least three years of profitable business operation, or must be an individual with at least three years of stable income.

    • Must possess a minimum household income of ₱50,000.

    To apply for this loan, the applicants should provide:

    • Duly filled application form

    • Photocopy of income tax return (ITR) for the last three years

    • Bank statement for the past six months

    • Copy of marriage contract for married applicants.

    Real estate collateral documents:

    • Two photocopies of the transfer certificate of title (TCT) and/or condominium certificate of title (CCT); these must be duplicate copies.

    • Photocopy of tax declaration, including for land and building if applicable.

    • Payment of appraisal fee

    Attention! For franchising loans, the only document needed is the Franchise Endorsement and/or Contract with Franchise Owner.

    Requirements for construction/developmental loan

    • The building plan

    • The building specifications

    • Bill of materials

    • Developmental permits

    • A subdivision plan

    • Feasibility study, which is applicable for only developmental loans.

    How to repay?

    BPI personal loan and all others can be paid through an automatic debit arrangement. It could also be paid over the counter; you may do so only at the branch where you applied and signed your contract for the loan. You can actually also monitor your loan and your payments through the BPI Express Online. Meanwhile, in case you missed your payment, you will be charged with a 5% late payment penalty fee.

    How to enroll for the BPI Automatic Debit Arrangement:

    • Visit the BPI eADA webpage using the link

    • Select the biller to be enrolled (your preferred loan type).

    • Read the T&C, then scroll down and click on the I agree box and Continue button.

    • Input your 10-digit loan account number which serves as your reference number for the chosen biller, then click Next.

    • Select your eligible BPI peso accounts that are displayed, then click Next.

    • Your registered mobile number will be displayed; If correct, tick Yes, send me the code.

    • Fill in the OTP sent to your registered number and click Submit.

    • A confirmation screen will be displayed and an email will be sent to your BPI-registered email address, confirming it.

    Pros and cons

    Even as swift and wonderful as BPI loan sounds, it has its ups and downs, knowing which will determine if the BPI loan is suitable for you or not.


    • BPI loans have a fixed rate, and this will make you calculate the total cost of your loan even before applying.

    • BPI loan is not repayable on-demand, which makes it available for a long term, which could be up to five years.

    • You don't have to give up equity to be eligible for a BPI loan.


    • The BPI loan process is very time-consuming, so whether you're applying over the counter or through other means, rest assured it's going to take some time before your application is approved and you're paid.

    • BPI loans are not very flexible because you could be paying interest on funds you are not even using.

    • BPI offers a very limited prepayment option, like in the automatic debit arrangement, you have to make sure that the account number you registered with BPI regularly receives enough cash in order to cover the prepayment.

    Legal regulation of BPI loans in the Philippines

    Following the SEC directive, if any lender wants to offer loans to Filipinos, all the agreements must specify general terms that define the legal obligations of each party. The repayment schedule, contract breach(if any), interest rate, loan security, and the collateral offered must be clearly shown.

    • Involved parties. The borrower and lender’s personal information must be clearly stated in the loan agreement. The information should include the names, addresses, social security numbers, and phone numbers of both parties.

    • Choice of law. This is the difference between laws in two or more jurisdictions. An example is that the laws governing a specific part of a loan agreement may differ from that same law in another province. It is then very important to identify which laws will apply.

    • Severability clause. This states that the terms of each contract are independent of each other. Hence, if a condition of the contract is deemed unenforceable by a court, that doesn’t mean all conditions are unenforceable.

    • Entire agreement clause. This defines the final agreement and covers any former agreements made in negotiations, written or oral.

    The real cost of a BPI loan

    The minimum BPI loan amount is ₱20,000.00, and the highest loan amount is ₱40,000,000.00. Any loan amount is subject to the bank approval which will be determined depending on the provided income documentation.

    In the Philippines, the effective interest rate of cash loans ranges from 1.25% to 15%. EIR is the rate that measures the cost of borrowing monetary loans, it is composed of the following fees/charges:

    • Estimated monthly amortization charge. The estimated monthly amortization rate for BPI loan ranges from 1.20% to 12%. This is charged from the monthly payment.

    • Processing fee. The processing fee in a BPI loan is ₱1,300, and it is deducted from loan proceeds.

    • Late payment fee. This is 5% of the amount due or ₱300 when it is higher.

    • Returned check fee. The returned check fee in BPI loan is ₱500 per returned check.

    • Stamp duty. ₱1.00 for every ₱200.00 of the loan amount for business loans, or ₱1.00 for every ₱200.00 in excess of ₱250,000.00.


    Because BPI is one of the established banks in the Philippines, you can easily count on its loan products (BPI personal loan, auto loan, home loan, etc). If you want to increase your application’s chances of getting considered and possibly approved, then you must prepare and complete the requirements and know the ins and outs of its screening process or processes.