Guide on How To Apply for BPI Auto Loan Offer for Aspiring Clients
HOW TO APPLY FOR BPI AUTO LOAN – Here is a guide in applying for the auto loan offer of the Bank of the Philippine Islands.
Banks are among the entities that you may turn to for car loans or auto loan offers. In the Philippines, one of the biggest and the most trusted banking entity is the Bank of the Philippine Islands or more popularly called BPI.
The Bank of the Philippine Islands has several offers encompassing savings and checking bank accounts, credit cards, loans, investment products, and insurance policies. One of its loan offers is the BPI Auto Loan which
The said Auto Loan offer can finance a vehicle purchase whether it is a brand new or a second hand car. There is an easy process on how to apply for the BPI Auto Loan offer.
If you want to personally apply for the loan offer at a branch of the Bank of the Philippine Islands, here are the steps on how to apply for the BPI Auto Loan offer over-the-counter:
Step 1 — Check the qualifications.
The Bank of the Philippine Islands has set two (2) major considerations in the application for its Auto Loan offer. To qualify, the loan applicant must be at least 21 years upon the loan application and not more than 70 years old at the time of the loan maturity. The household income must also not go below Php 30,000 per month.
In case you are in your 60s, you can adjust your loan term to ensure that you won’t be 70 years old by the time of the loan maturity.
Step 2 — Go to BPI.
Go to a branch of the Bank of the Philippine Islands and ask for a copy of the BPI Auto Loan Application Form. Fill in the information asked in the form.
Step 3 — Prepare the requirements.
There are documents that the bank requires in applying for the Auto Loan offer. It depends if you are employed or self-employed. You may also choose to prepare the documentary requirements ahead of time before going to a bank if you want a faster process.
Step 4 — File your loan application.
Submit your duly-accomplished BPI Auto Loan Application Form to the bank as well as the other documentary requirements to file your loan application. It will take at least five (5) days for the bank to release the loan application result but it may take a shorter course, too.
For approved loan applications, you may receive an SMS notification from the Bank of the Philippine Islands and will be asked to visit the brand or a Loans Business Center for the signing of the loan documents.