BPI Personal Loan: Frequently Asked Questions Answered

Frequently asked questions about the BPI Personal Loan answered.

BPI PERSONAL LOAN – Here are some of the frequently asked question about the BPI Personal loan and its corresponding answers.

The BPI personal loan has no collateral requirement that can make one person borrow three times than his monthly income gross. This has a minimum loan amount of Php 20,000.00 and a maximum of Php 1,000,000.00 with minimum and maximum loan tenure of 12 to 36 months.

The borrower should be 21 to 60 years old with a monthly income of as low as Php 20,000.00. The approval duration usually take just 5 to 7 days.

REQUIRED DOCUMENTS & ELIGIBILITY REQUIREMENTS FOR APPLICATION:

Filled out application form
Proof of income
Valid identification cards are required for all applicants
Must be Filipino Citizen
Employees must have 2 working years with current company
Free from unsettled debt or credit obligations

-For Employees/Professionals:

Photocopy of one (1) government-issued valid ID (Passport, Driver’s License, SSS, PRC, etc.) with photo
Latest Income Tax Return with BIR or Bank Stamp (BIR Form 2316) and 3 months original pay slip

-For Self-employed:

Copy of Government-issued valid ID (Passport, Driver’s License, SSS, PRC, etc.)
Copy of Audited Financial Statements for the last three (3) years
Copy of Latest Income Tax Return (BIR Form 1700 / 1701)
DTI Business Permit or SEC Registration

-For OFW’s:

Government-issued photo-bearing ID (Passport, Driver’s License, SSS, PRC, etc.)
POEA contract or Employment contract with boarding date (if agency-based)
Proof of remittance, POEA OFW Information Sheet or POEA Overseas, and Employment Certificate and Work Contract (if direct hire)

MODE OF REPAYMENT: