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BPI Personal Loan: A Simple and Easy Guide for You

The Bank of Philippine Islands (BPI) has been competitively offering financial solutions in terms of banking and loan services. Founded in 1851, BPI was then named as El Banco Español Filipino de Isabel II, now it is known as one of the go-to banks of Filipinos from various walks of life. Over the years, BPI loan products have evolved as they deemed it best for the needs of Filipinos.


BPI Personal Loan

BPI bank personal loans are unsecured loans that do not require any collateral. Belonging to the wide range of lending solutions portfolio, the BPI Personal Loan is known to have flexible options with a couple of benefits and appealing features.

BPI Personal Loan Eligibility

If you are going to process BPI Personal Loan online application, you must be a Filipino citizen who is at least 21 years old and not older than 60. You must also reside within 30 km from a BPI branch as you need to personally sign the loan documents in their bank. This also means you can’t get the BPI quick loan if you are outside the country. If you are an OFW or a seafarer currently working abroad, there will be no chance to get the BPI Personal Loan in your name.
Employed applicants must earn at least 20,000 a month and work in the current company for at least two years. On the other hand, if you are a self-employed applicant, you must be able to prove that you are earning a minimum of P50,000 a month from your business which has been stable and profitable for at least 3 years.

BPI Personal Loan Requirements for OFW

BPI OFW loan requires a minimum gross of P30,000 with at least 2 years of employment. Freelancers or those offering professional services must at least earn a gross monthly income of P25,000 with 2 years of employment. In the case of the Pensioner or those who are earning through investments, they must have a cash inflow of at least P25,000. Then, they will be subject to further eligibility assessment.

BPI Personal Loan Calculator

The BPI Cash Advance Calculator will help you estimate your monthly payments. You will see how much you can borrow and the loan terms you can possibly choose from. Loan calculators will help you make a better decision since you can see the possible monthly installments you must pay.


BPI Personal Loan Interest Rate

BPI, known to give transparent terms, offers a highly competitive monthly interest rate. On the other hand, you also have to understand that the Effective Interest Rate varies on the terms you choose.
Still, as validated by the credit staff, it depends on your salary and other factors. You can borrow as much as 3 times your monthly gross income. You can borrow as low as P20,000 up to as high as P1,000,000. Also, you can use your loan in any way you want. You can spend it on paying your children’s tuition fees to buy the latest gadget. BPI does not have any restrictions on how you are going to spend your loan.

Loan Terms

The BPI bank loan has monthly repayment schemes. You can choose from five options: 12, 18, 24, 30, and 36 months. Your loans can be as short as 1 year or as long as 3 years. Make sure that you choose the loan that fits your needs. In case you gain the ability to settle your loan earlier than expected, you can pay off your loan and its interest rate without incurring prepayment charges.

BPI Personal Loan Approval

The BPI Personal Loan is available even to those who do not have a BPI account. However, once your loan has been approved in 5 to 7 days, you will be required to open your bank account upon cash disbursement. You will be charged with P1,500 processing fee, which will be deducted from the loan disbursed to your bank account. You will receive your loan in 1 to 3 days after you have signed your loan documents.

Loan Repayment

You can only pay through Automatic Debit Arrangement. If you want to pay over the counter, you may do so only at the branch where you applied and signed your contract for a loan. You can monitor your loan and payments through BPI Express Online or 89-100 BPI Express Phone. If you miss your payment, you will be charged a 5% late payment penalty fee.

With this information, you can proceed in learning how to apply personal loan in BPI. 

BPI Personal Loan Benefits

Many Filipinos look forward to a BPI Personal Loan because of the advantages that entail it. 

Flexible Loan

Filipinos have various reasons why they get a loan. You might want to celebrate a special occasion, and grab the once-in-a-lifetime chance to have a memorable vacation with your loved ones. Or buy an engagement ring to propose to your girlfriend. You are free to use your loan in any way you want.

Assured Financing

Since you are borrowing from a reputable bank, you are assured that your approved loan can be disbursed without a problem, even if it is as much as three times of your monthly salary.


This personal loan is for most Filipinos with a regular income source. It is regardless if they are employed, self-employed, OFW, Seafarer, or freelancers. All you need is the proper documents to prove that you have a stable cash inflow.

Flexible Loan Tenure

Though the personal loan is basically monthly, you can choose the tenure of your loan according to which you can help repay regularly at ease. However, though the longest tenure seems to be more feasible to be paid every month, you will realize that you are paying way more than you originally borrowed.

BPI Personal Loan Downside

Just like other financial loan products and services, BPI personal loan comes with disadvantages too. 


BPI offers only a very limited prepayment option: Automatic Debit Arrangement. You must ensure that the account number you registered with BPI regularly receives enough cash. This way, it helps you cover the prepayment.

Personal Transaction

To finalize your BPI online loan process, you must personally show up at a specific branch to sign the loan documents. Banks are only open on weekdays. You have to make an effort and take time to get down on it.

Slow Loan Processing

The actual BPI personal loan processing time starts from submitting your loan application to signing the loan contract. It may take 5 to 7 working days. Meanwhile, it takes 1 to 3 days for your cash to be disbursed. If you are getting a loan for an emergency, you need a more instant loan which could take a day to process.


BPI cash loan renewal is strict. Unlike other financial institutions, BPI will not let you get a new loan as long as you still haven’t settled your current loan.

Choose the best personal loan that fits your needs. If you need an instant cash loan with the most flexible terms, which can be processed online in just a day, then you can get it from Cash Mart today.