Concerns on existing Auto or Housing Loans after the Enhanced Community Quarantine (ECQ)

Starting June 1, 2020, payment for 1-month amortization will be collected through auto-debit on your scheduled due date.

Since payment collection for your loan was suspended or postponed during the grace period, your loan term (maturity date) shall be extended by the number of months your payment due dates were suspended.

Consistent with the Bayanihan Act Implementing Rules, the unpaid loan principal during the grace period shall continue to earn interest. In the case of BPI Family Auto or Housing Loan, the accrued interest shall be collected on your scheduled due date/s after the grace period.

The usual amount of your monthly auto-debit will not change after the grace period, but shall first be applied as payment for the interest accrued. The application of payment on the principal loan balance shall begin once the accrued interest incurred over the grace period has been fully paid. 

Correspondingly, any remaining principal balance shall be collected at the end of your loan.


March 15, 2020

Monthly Amortization - Php 12,000
Principal - Php 10,000
Interest - Php 2,000

April 15, 2020

Monthly Amortization - Php 12,000
Principal - N/A
Interest - Php 2,000

Grace period = no debit

May 15, 2020

Monthly Amortization - Php 12,000
Principal - N/A
Interest - Php 2,000

Grace period = no debit

June 15, 2020

Monthly Amortization - Php 12,000
Principal - Php 6,000
Interest - Php 6,000*

Auto-debit resumes

*amount includes the interest accrued during the grace period.

After the grace period, your next amortization/s are applied as payment for the interest accrued during the grace period. As a result, your loan's outstanding balance and payment schedule have been adjusted. Please refer to the sample illustration above.

There will be no change to your loan payment schedule (unless your loan is due for re-pricing) if you requested for NO GRACE PERIOD via SMS or Email before May 31, 2020. Please take note that the message should have been acknowledged/ confirmed by us via SMS or Email.

If you have requested for NO GRACE PERIOD before May 31, 2020, any payments made over-the-counter or via BPI Online will be applied accordingly to your monthly amortizations during the grace period. On your next scheduled due date starting June 01, 2020, only one (1) month’s worth of amortization will be debited from your account, and your loan's maturity date will remain unchanged.

Due to the high volume of requests, we are experiencing some delays in our fulfillment process. Please be assured that all confirmed requests will be processed and no late payment penalties will be charged for delays in debiting payments for the covered due dates.

If you sent an SMS or Email on or before May 31, 2020 but have not received any confirmation or acknowledgment, you may need to resend your request. Please send a screenshot of your SMS or Email to bfsbloanscare@bpi.com.ph and we will review the validity of your request. Valid requests shall receive a confirmation through SMS or Email, and the corresponding amount of loan payments will be debited from your account within 5-7 banking days.

If you already received a confirmation from the bank regarding the cancellation of the grace period, please disregard our system-generated reminder.

SMS and Email Advisories were sent to clients regarding the Grace Period. Several announcements were also posted on the BPI Family Savings Bank website and official Facebook page.

The mandatory grace period for loans and the period for requesting to opt out of it ended last May 31, 2020, as published on the BPI Loans website. If you did not make a request to opt-out within the said date, then the grace period and modified payment schedule have already been applied to your loan.

Your payments will be applied to your loan. If you paid all your scheduled monthly amortizations to your loan account on the scheduled due dates, then your loan term will not be extended and your loan maturity will not change.

Your payment/s will be applied to your loan. For the due dates when you decided to avail of the grace period, corresponding accrued interest on the unpaid principal will have to be paid first in the next due date/s succeeding the expiry of the grace period.  Your loan term shall likewise be extended equivalent to the availed grace period.