Special Installment Plan (S.I.P.) Loans terms and conditions

Eligibility

A credit cardholder (the “Cardholder”) of Bank of the Philippine Islands (the “Bank” or “BPI”) of good standing is qualified to avail of the BPI Special Installment Plan (S.I.P.) Loan (the “Loan”) for a minimum loan amount of PHP3,000. Subject to regulatory and compliance requirements, the Loan is available to a Cardholder of any BPI Credit Card variant (but excluding Corporate Cards, eCredit Cards and such other credit card variant which expressly provides for its exclusion) (the “Card”).

Approval

The grant of the Loan shall be subject to appropriate approval and be based on Cardholder’s available limit at the time of processing. The Bank may perform additional verification for Cardholder’s security. The Bank reserves the right to terminate processing of the Loan application and / or deny the same in the event that the Cardholder fails to submit documentary requirements or it becomes aware of any misrepresentation or any circumstances which will disqualify the Cardholder from availing of the Loan.

All applications received are deemed final and cannot be reversed, cancelled or amended. In the event of duplicate application resulting in duplicate processing, Cardholder shall remain liable to BPI for the payment of all approved Loan.

Balance Conversion

Only new retail and online transactions worth at least Php 5,000 per transaction billed in the latest Statement of Account can be converted to installment. Interest, installment, cash advance and transactions that form part of the revolving balance are not eligible. Application must be submitted at least five (5) days prior to the due date indicated in the latest Statement of Account.

Balance Transfer

Prior to the approval of the Balance Transfer application, the Cardholder shall continue to pay the minimum amount due on his/her non-BPI Credit card/s. The Cardholder agrees and understands that payment by BPI to credit card issuers of non-BPI Credit card (the “Non-BPI Credit Card Issuer”) may be remitted days after the posting of the Balance Transfer transaction to his/her BPI Credit Card to allow BPI reasonable time for processing. In the event of delay in payment by BPI to Non-BPI Credit Card Issuer for whatever reason/s, or rejection/non-acceptance of payment by the Non-BPI Credit Card Issuer, the Cardholder hereby absolutely holds BPI free from any liability for penalties, charges and damages, if any, which may be imposed by the Non-BPI Credit Card Issuer upon the Cardholder as a result of the said delay, rejection or non-acceptance of payment by the Non-BPI Credit Card Issuer.

Upon approval of the Balance Transfer application, BPI will remit the payment directly to the Non-BPI Credit Card Issuer through the BPI Bills Payment Facility or Bancnet Bills Payment Facility, Remittance of the payment by the Bank to the Non-BPI Credit Card Issuer shall be deemed as receipt of the proceeds of Balance Transfer by the Cardholder himself/herself. It is understood that the Cardholder shall have the obligation to contact BPI for confirmation of the status of their application (whether approved or rejected), and that payment made by the Cardholder to their non-BPI Credit card prior to or without such confirmation, shall be at Cardholder’s own risk and account. In the case of double payment or overpayment to the Non-BPI Credit Card Issuer (i.e. payment made by both BPI and Cardholder, or duplicate payment by BPI due to duplicate applications made by Cardholder), the Cardholder continues to be liable to BPI for reimbursement/payment of such Balance Transfer amount under the Balance Transfer facility.

Supporting Documents

For applications that require submission of supporting documents, date reflected in said documents should not be more than three (3) months prior to date of application.

Method of Payment

The Loan shall be paid in equal and successive monthly installments, as indicated in the Bank’s S.I.P. Loan Charge Form and/or Statement of Account (SOA), which shall commence on the Cardholder's next billing date until the Loan is fully paid.

Similar to a regular purchase, billed monthly installment amortizations are subject to finance charges if Cardholder pays any amount less than, or does not pay on Payment Due Date, the Total Amount Due (inclusive of the billed monthly installment amortization/s). The finance charges on the unpaid balance shall be computed from the day after the Statement Date until the outstanding balance and applicable interest are fully paid. The Cardholder understand that the SIP Loan transaction will take longer to pay off in full than the availed loan term, if only the Minimum Amount Due is paid.

Loan Rate

Existing Loan rates at the time of receipt of loan application will apply. The monthly installment due from the Loan is computed using the following formula:

Total Loan Amount x Factor Rate of Chosen Term = Monthly Installment Amount

Default or Breach of Contract

In case of default or failure to pay on time any installment or any outstanding balance set forth in the Cardholder's SOA or breach of any of these terms and conditions, Cardholder agrees to the following:

• The Bank shall have the right to suspend, cancel or refuse to renew the Card.
• The Card outstanding balance including the Loan balance plus interest, penalties, fees and charges (the "Total Outstanding Balance" or "TOB") shall immediately become due and payable, with or without notice.
• Failure to pay any amount due shall constitute a default of the Loan.

Card Renewal

If for any reason, the Cardholder fails to renew the Card or the Card is not renewed by the Bank, the Cardholder's TOB shall immediately become due and payable.

Appointment of the Bank as Attorney-in-fact

Upon the occurrence of an event of default or any breach of the terms and conditions hereof, the Bank is appointed and shall act as attorney-in-fact with full power and authority to do all acts and deeds necessary to satisfy or liquidate the Loan, including (without limitation) appropriating credit balances in Cardholder’s accounts with the Bank towards payment of the Loan and other amounts due to the Bank, in addition to such other rights and remedies granted under these terms and conditions, by contract or law. Cardholder hereby ratifies and confirms all acts and deeds as may be done or performed by the Bank under this authority.

Service Fee

A non-reversible, non-waivable service fee will be charged for each S.I.P. Loan availment. This fee will be reflected in the succeeding statement of account. For the complete and updated list of the applicable fees and other charges, please see the Table of Fees.

Loan Proceeds

If the personal bank account number provided for crediting of proceeds is invalid or with name discrepancy, or identified as a corporate or Doing-business-as (DBA) account, the Loan application will not be processed.

In the event that a Balance Transfer payment was made to a non-BPI Credit card account which was later discovered or established as belonging to a different person, or the account number/s or other account identification/s supplied by the Cardholder during application are incorrect or erroneous or does not belong to the said Cardholder, Cardholder will still be liable for the amount paid by BPI to the Non-BPI Credit card Issuer.

Loan Restriction

A single installment Loan transaction requires only one approval. Splitting into smaller Loan transaction sizes and requiring multiple Loan transaction approvals shall not be allowed.

Loan Amount

Processing of the Loan will always be based on Cardholder’s available limit at the time of processing. If the total Loan amount applied is more than the available credit limit, BPI has the sole discretion to process the application and approve based on the available credit limit at the time of processing.

Manager's Check

For proceeds disbursed via Manager's Check (MC), Cardholders agree to claim the MC within thirty (30) days from issuance date. Should the Cardholder fail to claim the MC within the said period, it shall be construed as Cardholder not wanting to proceed with the Loan. Unclaimed MCs after the lapse of said period will be automatically cancelled along with the S.I.P. Loan transaction, with or without notice. However, the corresponding Service Fee charged for processing of the Loan application, shall continue to be payable, and, if already paid, shall not be reimbursable by the Bank, notwithstanding the failure of the Cardholder to claim the MC or any other failure of the transactions contemplated herein.

Pre-termination by Cardholder

If Cardholder decides to pre-terminate his/her Loan application, the Bank will charge a processing fee plus applicable charges or interests computed using the diminishing balance method.  For the complete and updated list of the applicable fees and charges, please see the Table of Fees.

Data Privacy Policy

The Cardholder's signature on the application form, his continued use of the Card or access to the BPI website shall constitute his/her agreement to, and acceptance of, the BPI Data Privacy Policy published in www.bpi.com.ph as the same may be revised or updated from time to time. The Cardholder further represents and warrants to the Bank that, prior to submitting any information about an individual (including personal information), all necessary authorization and consent as may be required in compliance with applicable confidentiality and data privacy laws have been obtained to enable the Bank to process such information.

Other Terms and Conditions; Amendments

These S.I.P. Loans terms and conditions form an integral part of, and must be read together with, the BPI Credit Card Terms and Conditions and other relevant supplemental terms and conditions, as the same may be amended by the Bank from time to time, and which terms and conditions are incorporated here by reference. The Bank may, at any time and for whatever reason it may deem proper, amend, revise or modify these terms and conditions, and any such amendments, revisions, supplement or modifications shall be binding on the Cardholder. The Cardholder shall be notified (through any of the means provided under Section 22 (Notice & Communication) of the BPI Credit Cards Terms and Conditions) of any amendments, revisions or modifications to these terms and conditions at least sixty (60) days prior to the effective date thereof, unless the amendments, revisions or modifications shall take effect as otherwise directed by the Bangko Sentral ng Pilipinas or provided by applicable laws, rules or regulations.

Date Published: October 9, 2025

Effectivity Date: December 9, 2025

For inquiries and comments, send us a message or call our 24-hour BPI Contact Center at ‎(+632) 889-10000.

BPI is regulated by the Bangko Sentral ng Pilipinas. https://www.bsp.gov.ph