BPI Auto Loan Requirements You Must Prepare for Application — A GUIDE

Lists of BPI Auto Loan Requirements for Application Process

BPI AUTO LOAN REQUIREMENTS – Here are the documents required in applying for the Bank of the Philippine Islands Auto Loan offer.

Are you looking for a bank where you may apply for the Auto Loan offer? In the Philippines, one of the entities that you may turn to is the Bank of the Philippine Islands or more popularly called BPI.

BPI offers a multi-purpose cash loan, a home loan, and an auto loan. It is apart from the bank account and credit card offers of the bank which is in the banking field for decades already.

The BPI Auto Loan offer which can finance a car purchase whether it is a brand new or pre-owned vehicle is open for both salaried and non-salaried individuals. The loan is payable for up to seven (7) years for brand new vehicles and five (5) years for second hand vehicles.

The BPI Auto Loan requirements depend if you are locally-employed, self-employed, or an overseas Filipino worker (OFW). The bank has also set specific sets of requirements for certain cases of self-employed individuals and OFWs.

Here are the BPI Auto Loan requirements that you must submit in applying for the loan offer based on the nature of employment:

For Locally-Employed Individuals:

• duly-accomplished and signed Auto Loan Application Form
• 2 valid Identitifcation Cards
• If married, both spouses to sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed
• Latest Certificate of Employment indicating salary, position and length of service with authorization to verify
• Latest 1 month pay slip or 3 months bank statement of payroll account with authorization letter to verify

For Self-Employed Individuals:

• duly-accomplished and signed Auto Loan Application Form
• 2 valid Identitifcation Cards
• If married, both spouses to sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed
• DTI Registration or Mayor’s Permit
• Latest ITR with financial statements
• Working account (6mos) with authorization letter to verify
• Trade references with complete contact information (business name, complete address, contact person, business phone number) *Major suppliers (at least 3) *Major clients (at least 3)
• Authorization letter to conduct trade verification

For Employed Individuals under Commission-Based Earning:

• duly-accomplished and signed Auto Loan Application Form
• 2 valid Identitifcation Cards
• If married, both spouses to sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed
• Latest ITR
• Certificate of employment stating commissions received prior year/months/period and Commisions Receivable, if any
• Bank statement where commision is credited, with authorization letter to verify

For Foreigner Applicants:

• duly-accomplished and signed Auto Loan Application Form
• 2 valid Identitifcation Cards
• If married, both spouses to sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed
• Valid Visa or Alien Certificate of Registration (ACR)

For Pensioners:

• duly-accomplished and signed Auto Loan Application Form
• 2 valid Identitifcation Cards
• If married, both spouses to sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed
• Certificate of Pension, with authorization letter to verifyBank statements of pension account (3 months), with authorization letter to verify

For Overseas Filipino Workers (OFWs):

• duly-accomplished and signed Auto Loan Application Form
• 2 valid Identitifcation Cards
• If married, both spouses to sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed
• Latest Contract, with authorization letter to verify
• Proof of bank remittance, with authorization letter to verify
• Details of crewing manager for seafarers

For OFWs on Vacation:

• duly-accomplished and signed Auto Loan Application Form
• 2 valid Identitifcation Cards
• If married, both spouses to sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed
• Latest Contract, with authorization letter to verify
• Proof of bank remittance, with authorization letter to verify
• Details of crewing manager for seafarers
• Other sources of income
• Return ticket
• Renewal of Contract, with authorization letter to verify
• Certificate of Hireability for seafarers

For OFWs on Board:

• duly-accomplished and signed Auto Loan Application Form
• 2 valid Identitifcation Cards
• If married, both spouses to sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed
• Latest Contract, with authorization letter to verify
• Proof of bank remittance, with authorization letter to verify
• Details of crewing manager for seafarers
• completely and correctly filled out Affidavit of Marital Consent with SPA (sent using the vessel’s official email)

For Individuals Practicing Professions with Own Business:

• duly-accomplished and signed Auto Loan Application Form
• 2 valid Identitifcation Cards
• If married, both spouses to sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed
• Working account with authorization letter to verify
• Latest ITR with AFS
• List of major trade references with complete details

Aside from over-the-counter loan applications, you may also file your loan online. Undeniably, this is a more beneficial process most especially for those who can hardly leave their work to apply for a loan.