Lists of BPI Auto Loan Requirements You Must Submit To Apply
BPI AUTO LOAN REQUIREMENTS – You can check here the documents that the Bank of the Philippine Islands require to apply for the loan.
Nowadays, more and more people are in the pursuit of getting their own vehicle. Truth be told that there is a huge advantage if you have your own car as it can be a preparation against unforeseen circumstances and emergencies.
However, truth be told that a car purchase requires thousands of money. Meanwhile, there are loans that you may turn to just like the BPI Auto Loan, the loan offer of the Bank of the Philippine Islands. It is one of the loan offers of the bank aside from the BPI Housing Loan.
BPI is one of the biggest, most popular, and reputable banks in the Philippines. It has several branches across the nation thus its offers are really accessible. To apply for the loan for the financing of a vehicle purchase, you need to submit a complete list of the BPI Auto Loan requirements
The BPI Auto Loan requirements vary depending if you are locally-employed, self-employed, an overseas Filipino worker (OFW), or a practicing professional. Here is a guide:
If locally-employed, here are the documents that you must submit to the bank to apply for the loan offer:
- duly-accomplished and signed BPI Auto Loan Application Form
- 2 valid IDs
- If married, both spouses to sign on the application form.
- If with co-borrower or co-mortgagor, separate application form is needed
- proof of income:
- Certificate of Employment (COE) indicating salary, position and length of service
- Latest Income Tax Return (ITR)
If self-employed, here are the BPI Auto Loan requirements that you need to prepare and submit to apply for the loan offer:
- duly-accomplished and signed BPI Auto Loan Application Form
- 2 valid IDs
- If married, both spouses to sign on the application form.
- If with co-borrower or co-mortgagor, separate application form is needed
- proof of income:
- Articles of Incorporation and By-Laws with SEC Registration Certificate
- G.I.S. (General Information Sheet)
- Audited Financial Statements for the last 2 years
- DTI Registration
- Income Tax Return w/ audited financial statements for the last 2 yrs.
- List of Trade References (at least 3 names with telephone nos. of major suppliers/customers)
- Bank Statements for the past 6 months
If overseas Filipino worker, for Filipinos working abroad or OFWs, here are the documents required by the bank in applying for the loan offer:
- duly-accomplished and signed BPI Auto Loan Application Form
- 2 valid IDs
- If married, both spouses to sign on the application form.
- If with co-borrower or co-mortgagor, separate application form is needed
- proof of income:
- Contract / Certificate of Employment (COE)
- Crew Contract and Exit Pass validated by POEA (seaman)
- Proof of monthly remittances
- Notarized or authenticated Special Power of Attorney (BPI FSB Format)
- Duly accomplished Auto Loan Application form required by POEA
In the case of practicing doctors and those who make money from rental of properties, here are the additional BPI Auto Loan requirements required by the bank:
- If Practicing Doctor
- Clinic address/es and schedule.
- Income Tax Return w/ audited financial statements for the last 2 yrs.
- If from Rental of Properties
- Rental/Lease Contract (indicating name of tenants and rental amounts with complete addresses of properties being rented)
- Photocopy of Title (TCT/CCT)
Aside from the Auto Loan offer, the Bank of the Philippine Islands also has the BPI Personal Cash Loan offer.