Guide on BPI Big Bike Loan Offer & Application Process
BPI BIG BIKE LOAN – You can check here the features of the Big Bike Loan offer of the Bank of the Philippine Islands and how to apply for it.
Riding a motorcyle or a big bike is passion for many people. As how it is known, big bikes are toys for the big boys. The so-called “rides” are many gentlemen’s way of relieving themselves from stress, breathing in, and simply breaking the routines. A lot of gentlemen who already have four-wheeled vehicles sees to it they still have time for their big bikes for the good feels it brings them.
Also, a big bike or a motorcycle is one of the tools in beating a heavy traffic. In the Philippines, there are entities that offers loans for individuals who want to purchase a big bike. One of the reputable entities with the said offer is the Bank of the Philippine Island or more popularly called BPI.
The Bank of the Philippine Islands actually has several loan offers. Aside from the BPI eCredit Card, BPI Edge Card, and BPI Gold Rewards Card credit card offers, the bank also has loans which include the BPI Big Bike Loan. Here are the borrowing amounts allowed under the bank loan offer:
- Minimum Loanable Amount — Php 100,000
- Maximum Loanable Amount — up to 70% of the purchase price of the vehicle
Who are qualified to apply for the loan offer? The bank has set a few qualifications in applying for the loan offer. It is open for both salaried and non-salaried individuals. To qualify for the offer, here are the eligibility requirements that a loan applicant must meet:
- at least 21 years old at the time of the loan application
- not more than 65 years old upon the loan maturity
- earning a household income of at least Php 40,000
The Bank of the Philippine Islands requires a minimum unit price of Php 200,000. Here are the interest rates under the offer:
| Term | Add-on rate | Effective rate |
| 12 | 8.83% | 15.92 % |
| 18 | 12.57% | 15.33% |
| 24 | 17.54% | 16.02% |
| 36 | 27.84% | 16.72% |
The BPI loan is payable from one (1) year up to three (3) years. To apply for the offer, visit a branch of the Bank of the Philippine Islands nearest to you.