Lists of BPI Auto Loan Requirements for Application Process
BPI AUTO LOAN REQUIREMENTS – Listed here are the documents required in applying for the loan offer of the Bank of the Philippine Islands.
Are you interested to apply for the Auto Loan offer of the Bank of the Philippine Islands? It can finance the purchase of both brand new and pre-owned vehicles. The loan offer os open for both salaried and non-salaried individuals.
Just like in other loans, there are qualifications or eligibility requirements to qualify for the loan offer. Here are the BPI Auto Loan requirements in terms of eligibility that an applicant must meet to qualify for the loan offer:
- at least 21 years old upon the loan application
- not more than 70 years old upon the loan maturity
- earning a minimum household income of Php 30,000
There is a huge different in having your own car. The convenience can be at its maximum when traveling and you can always drive in a speed that is safe for you and everyone who is with you. It is also an emergency preparation most especially when unforeseen situations take place in the wee hours of the day.
The Bank of the Philippine Islands’ offer is also open for foreign nationals, commission-based applicants, pensioners, and overseas Filipino workers. There are varying BPI Auto Loan requirements that must be submitted in applying for the loan offer.
Here is a guide on the documents that are required in applying for the BPI Auto Loan offer:
For Locally Employed Applicants:
- duly-completed BPI Auto Loan Application Form
- two (2) valid Identitifcation Cards
- If married, both spouses must 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 Commission-Based Applicants:
- duly-completed BPI Auto Loan Application Form
- two (2) valid Identitifcation Cards
- If married, both spouses must 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 Self-Employed Applicants:
- duly-completed BPI Auto Loan Application Form
- two (2) valid Identitifcation Cards
- If married, both spouses must 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
- Authorization letter to conduct trade verification
For Applicants Practicing Professions with Own Business:
- duly-completed BPI Auto Loan Application Form
- two (2) valid Identitifcation Cards
- If married, both spouses must 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
For Overseas Filipino Workers (OFWs):
- duly-completed BPI Auto Loan Application Form
- two (2) valid Identitifcation Cards
- If married, both spouses must 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 Pensioner Applicants:
- duly-completed BPI Auto Loan Application Form
- two (2) valid Identitifcation Cards
- If married, both spouses must sign on the application form
- If with co-borrower or co-mortgagor, separate application form is needed
- Certificate of Pension, with authorization letter to verify
- Bank statements of pension account (3 months), with authorization letter to verify
For Foreigner Applicants:
- duly-completed BPI Auto Loan Application Form
- two (2) valid Identitifcation Cards
- If married, both spouses must 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)
Aside from the financing of brand new and secondhand passenger cars, the BPI Auto Loans also include the financing of the purchase of trucks and bicycles.
