Balance Transfer | BPI

Term	Monthly Add-on Rate	Factor Rate	EIR PA
6	1.00%	0.176667	20.29%
12	1.00%	0.093333	21.46%
18	1.00%	0.065556	21.64%
24	1.00%	0.051667	21.57%
36	0.99%	0.037678	21.01%

Notes:

Effective Interest Rate (P.A) of 21.01% on 36-month term.
A service fee of Php 300 will be charged for each S.I.P. Loan Availment. This fee will be reflected in the succeeding statement of account.
Rates are effective November 3, 2020 until further notice in compliance with BSP Circular 1098.

Sample Interest Computation for Balance Transfer

Loan Amount: Php 20,000.00
Term: 12 months
Add-on Rate (per month): 1.00%
Effective Interest Rate (per month): 1.79%
Factor Rate: 0.037678
Monthly Amortization: Php 1,866.67
Total Interest: Php 2,400

Month	S.I.P. Loan	Monthly Amortization	Interest	Principal Payments	Outstanding Principal Balance
0	20,000		0	0	20,000.00
1		1,866.67	357.62	1,509.05	18,490.95
2		1,866.67	330.64	1,536.03	16,954.92
3		1,866.67	303.17	1,563.50	15,391.43
4		1,866.67	275.21	1,591.45	13,799.97
5		1,866.67	246.76	1,619.91	12,180.06
6		1,866.67	217.79	1,648.88	10,531.19
7		1,866.67	188.31	1,678.36	8,852.83
8		1,866.67	158.3	1,708.37	7,144.46
9		1,866.67	127.75	1,738.92	5,405.55
10		1,866.67	96.66	1,770.01	3,635.53
11		1,866.67	65.01	1,801.66	1,833.88
12		1,866.67	32.79	1,833.88	0.00