Guide on BPI Home Loan Features & Application
BPI HOME LOAN – Here are the important details about the loan offer of the Bank of the Philippine Islands to finance a residential property purchase.
The Bank of the Philippine Islands, more popularly called BPI, is one of the biggest and most trusted banks in the country. It has millions of clients across the nation and there are also countless overseas Filipino workers (OFWs) who continually avail the services of the bank.
BPI offers bank accounts, credit cards, loans, investment products, and insurance policies. Its loan offers include the BPI Home Loan which is actually open for several purposes including the following:
- Home Acquisition
- House Construction
- Home Improvement / Renovation
- Property Equity Loan
Under the Home Loan offer of the Bank of the Philippine Islands, you can enjoy low interest rates, easy application process, and a reliable entity to transact with in reaching your goal.
For the purpose of residential property acquisition, the bank is open to finance the purchase of a house and lot, a townhouse, a condominium unit, or a vacant lot. Here are the loanable amounts:
- Minimum Loanable Amount — Php 400,000
- Maximum Loanable Amount — up to 90% of the value of the property
The loan is payable from one (1) year up to 20 years. The interest rate depends on the fixing period you have chosen for your loan.
| Fixing period (years) | Rate |
| 1 | 7.00% |
| 2 | 7.25% |
| 3 | 7.75% |
| 4 | 8.00% |
| 5 | 8.25% |
| 10 | 10.25% |
| 15 | 10.50% |
| 20 | 12.00% |
Who are qualified to apply for the BPI Home Loan offer? The bank has set one of the least number of eligibility requirements for application. To qualify, here are the eligibility requirements that the applicant must meet:
- at least 21 years old upon the loan application
- not more than 65 years old at the time of the loan maturity
- with a minimum household income of Php 40,000
