BPI Credit Cards Sample Interest Calculations
Understand how interest is computed for your BPI Credit Card.
Sample Interest Calculations for BPI Free+ Credit Card
Purchase Date : First day after Statement Date
Transaction Amount : PHP 20,000.00
Payment Due Date : 20 days after Statement Date
Minimum Amount Due : 3.57% of the Total Outstanding Balance
Sample Interest Computation for a Retail Transaction, BPI Free+ Card
Total Interest: PHP 4,355
Average Outstanding Balance: PHP 16,009
Monthly Finance Charge Rate: 2.50%
Monthly Effective Interest Rate: 2.27%
Month | Retail Purchase | Total Payment | Interest | Outstanding Principal Balance | Total Outstanding Balance |
|---|---|---|---|---|---|
1 | 20,000 | 0 | 0 | 20,000 | 20,000 |
2 |
| 850 | 508 | 19,150 | 19,658 |
3 |
| 1,358 | 449 | 18,300 | 18,749 |
4 |
| 1,299 | 471 | 17,450 | 17,921 |
5 |
| 1,321 | 436 | 16,600 | 17,036 |
6 |
| 1,286 | 427 | 15,750 | 16,177 |
7 |
| 1,277 | 393 | 14,900 | 15,293 |
8 |
| 1,243 | 383 | 14,050 | 14,433 |
9 |
| 1,233 | 361 | 13,200 | 13,561 |
10 |
| 1,211 | 328 | 12,350 | 12,678 |
11 |
| 1,178 | 316 | 11,500 | 11,816 |
12 |
| 1,166 | 285 | 10,650 | 10,935 |
Sample Computation | |||
|---|---|---|---|
Given | Current Statement Date | Jan 1 |
|
| Payment Due Date | Jan 21 |
|
| Next Statement Date | Feb 1 |
|
| Previous Balance | PHP 20,000.00 |
|
| Date of Payment | Jan 21 |
|
| Amount Paid | PHP 850.00 |
|
| Monthly Finance Charge | 2.50% |
|
| Factor Rate in Step i | 2.50% x 12 months | = 30.00% |
| No. of Days in Step ii.a | Jan 2 to Jan 20 | = 19 |
| No. of Days in Step ii.b | Jan 21 to Feb 1 | = 12 |
Step i | 30.00% / 360 days | = 0.000833 | |
Step ii.a | PHP 20,000 x 0.000833 x 19 days | = 316.54 | |
Step ii.b | (PHP 20,000 - PHP 850) x 0.000833 x 12 days | = 191.42 | |
Step iii. | PHP 316.54 + PHP 191.42 | = 507.96 | |
Finance Charge in the next Statement of Account, BPI Free+ | PHP 507.96 | ||
Effective Interest Rate per month is the Average Monthly Interest divided by the Average Monthly Principal Balance.
Assumptions:
- Cardholder has no outstanding balance on his/her first statement and makes a transaction of PHP 20,000 during the first month.
- Cardholder will pay only the Minimum Amount Due and the interest charges posted every statement cycle on his/her due date.
Sample Interest Computation for a Cash Advance Transaction, BPI Free+ Card
Total Interest: PHP 5,136.94
Average Outstanding Balance: PHP 16,184
Monthly Finance Charge Rate: 2.50%
Monthly Effective Interest Rate: 2.65%
Month | Cash Advance | Total Payment | Interest | Cash Advance Fee | Outstanding Principal Balance | Total Outstanding Balance |
|---|---|---|---|---|---|---|
1 | 20,000 | 0 | 522 | 200 | 20,000 | 20,722 |
2 |
| 1,372 | 473 |
| 19,350 | 19,823 |
3 |
| 1,323 | 499 |
| 18,500 | 18,999 |
4 |
| 1,349 | 463 |
| 17,650 | 18,113 |
5 |
| 1,313 | 455 |
| 16,800 | 17,255 |
6 |
| 1,305 | 419 |
| 15,950 | 16,369 |
7 |
| 1,269 | 410 |
| 15,100 | 15,510 |
8 |
| 1,260 | 388 |
| 14,250 | 14,638 |
9 |
| 1,238 | 355 |
| 13,400 | 13,755 |
10 |
| 1,205 | 343 |
| 12,550 | 12,893 |
11 |
| 1,193 | 311 |
| 11,700 | 12,011 |
12 |
| 1,161 | 299 |
| 10,850 | 11,149 |
Sample Computation | |||
|---|---|---|---|
Given | Current Statement Date | Jan 1 |
|
| Payment Due Date | Jan 21 |
|
| Next Statement Date | Feb 1 |
|
| Cash Advance Amount | PHP 20,000.00 |
|
| Cash Advance Post Date | Jan 2 |
|
| Cash Advance Fee | PHP 200.00 |
|
| Monthly Finance Charge | 2.50% |
|
| Factor Rate in Step i | 2.50% x 12 months | = 30.00% |
| No. of Days in Step ii | Jan 2 to Feb 1 | = 31 days |
Step i | 30.00% / 360 days | = 0.000833 | |
Step ii | PHP 20,000 x 0.000833 x 31 days | = 521.62 | |
Finance Charge in the next Statement of Account, BPI Free+ | PHP 521.62 | ||
Cash Advance Effective Interest Rate per month is the Average Monthly Interest divided by the Average Principal Balance.
Assumptions:
- Cardholder has no outstanding balance on his/her first statement and makes a Cash Advance transaction of PHP 20,000 during the first month.
- Cardholder will pay only the Minimum Amount Due and the interest charges posted every statement cycle on his/her due date.
- Effective Interest Rate for Cash Advance will vary depending on the amount of the transaction and number of cash advance transactions made within the statement cycle.
Note: Cash Advance and Installments are not yet available for BPI Omni and BPI Free+ cards. Once these functionalities become available, BPI shall notify the Cardholder through any of the communication channels provided under Section 22 of the BPI Credit Card Terms & Conditions.
Sample Interest Calculations for Other BPI Credit Cards
Sample assumptions
Purchase Date : First day after Statement Date
Transaction Amount : Php 20,000.00
Payment Due Date : 20 days after Statement Date
Minimum Amount Due : 3.57% of the Total Outstanding Balance
Sample Interest Computation for a Retail Transaction
BPI Mastercard / BPI Visa
Total Interest : Php 5,242.24
Average Outstanding Balance : Php 16,009
Finance Charge (per month) : 3.00%
Effective Interest Rate (per month) : 2.73%
| Month | Retail Purchase | Total Payment | Interest | Outstanding Principal Balance | Total Outstanding Balance |
|---|---|---|---|---|---|
| 1 | 20,000 | 0 | 0 | 20,000 | 20,000 |
| 2 | 850 | 610 | 19,150 | 19,760 | |
| 3 | 1,460 | 540 | 18,300 | 18,840 | |
| 4 | 1,390 | 567 | 17,450 | 18,017 | |
| 5 | 1,417 | 525 | 16,600 | 17,125 | |
| 6 | 1,375 | 514 | 15,750 | 16,264 | |
| 7 | 1,364 | 473 | 14,900 | 15,373 | |
| 8 | 1,323 | 461 | 14,050 | 14,511 | |
| 9 | 1,311 | 434 | 13,200 | 13,634 | |
| 10 | 1,284 | 395 | 12,350 | 12,745 | |
| 11 | 1,245 | 380 | 11,500 | 11,850 | |
| 12 | 1,230 | 343 | 10,650 | 10,993 |
| Sample Computation | |||
|---|---|---|---|
| Given | Current Statement Date | January 1 | |
| Payment Due Date | January 21 | ||
| Next Statement Date | February 1 | ||
| Previous Balance | 20,000.00 | ||
| Date of Payment | January 21 | ||
| Amount Paid | 850.00 | ||
| Monthly Finance Charge | 3.00% | ||
| Factor rate in Step i | 3.00% x 12 months | 36.00% | |
| No. of Days in Step ii.a. | Jan 2 to Jan 20 | 19 | |
| No. of Days in Step ii.b. | Jan 21 to Feb 1 | 12 | |
| Step i | 36.00% / 360 days | 0.001 | |
| Step ii.a. | Php 20,000 x 0.001 x 19 days | 380.00 | |
| Step ii.b. | (Php 20,000 - 850.00) x 0.001 x 12 days | 229.80 | |
| Step iii. | Php 380 + Php 229.80 | 609.80 | |
| Finance Charge to appear in the next statement | |||
| BPI Mastercard / BPI Visa | 609.80 | ||
Effective Interest Rate per month is the total interest divided by the Average Prinicipal Balance.
Assumptions:
- Cardholder has no outstanding balance on his/her first statement and makes a transaction of Php 20,000 during the month.
- Cardholder will pay only the Minimum Amount Due and the interest charges posted every statement cycle on his/her due date.
Sample Interest Computation for a Cash Advance Transaction
BPI Mastercard / BPI Visa
Total Interest : Php 5,942.27
Average Outstanding Balance : Php 16,184
Finance Charge (per month) : 3.00%
Effective Interest Rate (per month) : 3.16%
| Month | Cash Advance | Total Payment | Interest | Cash Advance Fee | Outstanding Principal Balance | Total Outstanding Balance |
|---|---|---|---|---|---|---|
| 1 | 20,000 | 0 | 626 | 200 | 20,000 | 20,826 |
| 2 | 1,476 | 570 | 19,350 | 19,920 | ||
| 3 | 1,420 | 600 | 18,500 | 19,100 | ||
| 4 | 1,450 | 557 | 17,650 | 18,207 | ||
| 5 | 1,407 | 548 | 16,800 | 17,348 | ||
| 6 | 1,398 | 505 | 15,950 | 16,455 | ||
| 7 | 1,355 | 494 | 15,100 | 15,594 | ||
| 8 | 1,344 | 467 | 14,250 | 14,717 | ||
| 9 | 1,317 | 427 | 13,400 | 13,827 | ||
| 10 | 1,277 | 413 | 12,550 | 12,963 | ||
| 11 | 1,263 | 375 | 11,700 | 12,075 | ||
| 12 | 1,225 | 360 | 10,850 | 11,210 |
| Sample Computation |
|---|
| Given | Current Statement Date | January 1 | |
| Payment Due Date | January 21 | ||
| Next Statement Date | February 1 | ||
| Cash Advance Transaction | 20,000.00 | ||
| Date of Cash Advance Posting | January 2 | ||
| Cash Advance Fee | 200.00 | ||
| Monthly Finance Charge | 3.00% | ||
| Factor rate in Step i | 3.00% x 12 months | 36.00% | |
| No. of Days in Step ii.a. | Jan 2 to Feb 1 | 31 | |
| Step i | 36.00% / 360 days | 0.001 | |
| Step ii.a. | Php 20,200 x 0.001 x 31 days | 626.20 | |
| Finance Charge to appear in the next statement | |||
| BPI Mastercard / BPI Visa | 626.20 | ||
Cash Advance Effective Interest Rate per month = Average Monthly Interest plus Cash Advance Fee of Php 200 divided by the Average Principal Balance.
Cash Advance Fee is Php 200 per transaction.
Assumptions:
- Cardholder has no outstanding balance on his/her first statement and makes a transaction of Php 20,000 during the month.
- Cardholder will pay only the Minimum Amount Due and the interest charges posted every statement cycle on his/her due date.
- Effective Interest Rate for Cash Advance will vary depending on the amount of the transaction and number of cash advance transactions made within the statement cycle.
Sample Interest Computation for an Installment Transaction
Installment Loan Amount or Item Price: Php 20,000
Term : 12
Add-on Rate (per month) : 1.00%
Effective Interest Rate (per month) : 1.79%
Factor Rate : 0.093333
Monthly Amortization : Php 1,866.67
Total Interest : Php 2,400.00
| Month | SIP Loan Amount | Monthly Amortization | Interest | Principal Payments | Outstanding Principal Balance |
|---|---|---|---|---|---|
| 20,000 | -20,000 | 20,000.00 | |||
| 1 | 1866.67 | 357.62 | 1509.05 | 18,490.95 | |
| 2 | 1866.67 | 330.64 | 1,536.03 | 16,954.92 | |
| 3 | 1866.67 | 303.17 | 1,563.50 | 15,391.43 | |
| 4 | 1866.67 | 275.21 | 1,591.45 | 13,799.97 | |
| 5 | 1866.67 | 246.76 | 1,619.91 | 12,180.06 | |
| 6 | 1866.67 | 217.79 | 1,648.88 | 10,531.19 | |
| 7 | 1866.67 | 188.31 | 1,678.36 | 8,852.83 | |
| 8 | 1866.67 | 158.30 | 1,708.37 | 7,144.46 | |
| 9 | 1866.67 | 127.75 | 1,738.92 | 5,405.55 | |
| 10 | 1866.67 | 96.66 | 1,770.01 | 3,635.53 | |
| 11 | 1866.67 | 65.01 | 1,801.66 | 1,833.88 | |
| 12 | 1866.67 | 32.79 | 1,833.88 | 0.00 |
To know more about BPI Credit Card installments and current rates available, visit www.bpi.com.ph
Unpaid billed installment amortizations shall be subject to finance charges billed at monthly finance charge rate computed in the same manner as outstanding retail balances.
Note: Rates are subject to change by Bank of the Philippine Islands from time to time.
