Personal Loans Frequently Asked Questions of New Applicants

Product Information
Product Information

Where can I use Personal Loan?

BPI Personal Loan is an easy way for you to get extra cash to fund your needs. Use it to fund your child's education, repair your home, or bridge immediate business and other personal needs.

How much can I borrow?

For our regular Personal Loan, you may get as much as 3 times of your gross monthly income, with amounts ranging from Php 20,000 up to Php 2,000,000. For our Seafarer Loan, you can get as much as Php 300,000, subject to approval.

How long will it take to process my loan application?

A personal loan application is processed within 5 to 7 working days upon receipt of complete documents.

I already signed my loan documents. When will the loan proceeds be credited to my account?

The proceeds will be credited to your account within 1 to 2 banking days from the date of signing.

Are there other fees and charges?

Once you book the loan, a minimal one-time processing fee of Php 1,500 will be deducted from your loan proceeds. For loans above Php 250,000 or for business purposes, government requires a Documentary Stamps Tax equivalent to Php 1.50 for every Php 200 of the loan amount.

How much is the monthly add-on rate?

For BPI Personal Loan, the monthly add-on rate is 1.2%, while for Seafarer Loan, the monthly add-on rate is 1.5%.

Application Process and Requirements
Application Process and Requirements

What requirements do I need to submit?

You just need to submit one (1) valid Philippine government-issued ID with photo and signature, duly accomplished, and signed application form, and your income documents.

1. Employed/ Professionals
- Payslips for the last 3 months or latest ITR (BIR 2316)

2. Self Employed
- Latest Audited Financial Statements or ITR DTI/SEC Business Registration Certificate

3. OFW
- Latest and unexpired signed POEA contract or employment contract with boarding date

For Direct Hire
- Latest 3 months Proof of remittance 
- Latest and Unexpired POEA Validated Information Sheet or latest POEA Overseas Employment Certificate (OEC), and latest Employment Contract*
- Consularized COE (If remitter is permanent resident in the country)

*In lieu of OEC print-out, you can submit OEC exemption screenshot with OEC BM online profile

4. Allottee (income coming from Remittance)
- Proof of remittance or latest bank statement where remittance is credited
- Latest and unexpired POEA validated information sheet or latest Employment Contract or consularized COE (If remitter is permanent resident in the country)

I don’t have a BPI account. Can I still apply for a Personal Loan?

We can still process your loan application. Once your application is queued for approval, we will be requesting you to open an account with us. This is because your loan proceeds will be credited to your BPI account, and your monthly installment will also be automatically debited from this account.

My monthly income does not meet your minimum requirement. Can I still proceed with my application?

All personal loan applications are subject to credit evaluation and approval based on these requirements. 

How do I apply for a BPI Personal Loan?

Apply online by accomplishing the application form and send together with the complete requirements to or through your nearest branch. Click here for the list of required documents.

Loan Payments
Loan Payments

How do I pay for my monthly installments?

Conveniently pay your monthly installments via automatic debit (ADA) from your BPI deposit account. The ADA will run monthly on your scheduled due date.

When will be the due date of my monthly installment? Can I select a due date?

Your monthly due date will be equivalent to the date when your loan is booked.

Booking date = January 10
Due date = every 10th of the month

For regular personal loan, the first installment shall start 30 days after your loan booking date.

For our seafarer loan, the due date will start 60 days after the loan is booked because the first monthly installment is deducted from the loan proceeds.

How much will be my monthly installment?

Your monthly installment will depend on your chosen amount and term.

You can compute your monthly installment by using the simple interest method.

For example, you chose to avail of a Php 100,000 loan at 12 months term:
1. Get the simple interest
Php 100,000*1.2% = Php1,200

2. Get the monthly principal
Php100,000/12 months = Php 8,333.33

3. Add the interest and the principal. This will be your monthly amortization:
Php 1,200 + Php 8,333.33 = Php 9,533.33

OFWs and Foreigners
OFWs and Foreigners

I am a natural born Filipino but has acquired different citizenship. Can I apply for a Personal Loan?

You may continue to apply provided your are currently residing in the Philippines. Aside from the regular requirements, you will be asked to present a valid government-issued Alien Certificate Registration (ACR) ID. Your application will be subject to credit evaluation.

I am a foreigner married to a Filipino. Can I apply?

BPI Personal Loan is currently only available to Filipino citizens who are residing in the Philippines.

I am an OFW and currently abroad. Can I apply?

You can submit a Personal Loan application while you are abroad through our online application form. However, once the loan is approved, we require clients to be physically present to sign the loan documents in any BPI branch in the Philippines.

My Personal Loan application has been approved, but I am currently abroad. How can I proceed with my loan availment?

Customers are required to sign the loan documents in any BPI branch in the Philippines. The approval of your loan shall only be valid for one month from the date of approval. You may still avail of the loan, provided that you will be available to sign your loan documents within approval validity.

Application Monitoring
Application Monitoring

How do I monitor the status of my loan application?

Updates on your loan application shall be sent thru SMS to the mobile number you have provided in your application. You may send us a message or you may also call our 24-hour BPI Contact Center at ‎(+632) 889-10000 to ask for updates.

Can I view my Personal Loan account details via BPI Online?

If you already have an existing BPI Online account, your personal account loan account will automatically reflect in your Portfolio page. In case you can't view it, or if you don't have a BPI Online account, please send us a message or call our 24-hour BPI Contact Center at ‎(+632) 889-10000 for assistance.