Technology is becoming more and more effective especially when it comes to the internet.  Today, we can now use it to apply for loans and such compared to before that we have to go to a physical store to achieve it.  In BPI, you can apply for a loan if you have an internet connection and that’s it, you just have to wait for it to be approved.  In this article, we are going to teach you how you can apply for a personal loan with BPI Online.

What is a Personal Loan?

Unlike other types of loans that you can apply for, a personal loan is probably the most flexible type of loan because you can use it to meet your financial requirements.  There are quite a few different reasons why people apply for a personal loan, some of the most common reasons are:

  • Paying Bills
  • Paying Amortization/Mortgage/Debts
  • Home Improvement
  • In order to have something for savings while having a job
  • To pay for cars
  • Tuition fees (if you have kids or relatives who you want to help)
  • Financial emergencies

These are the most common words you will hear when you become aware that someone has done a personal loan.

How do I apply for a Personal Loan with BPI?

As mentioned above, applying for a personal loan with BPI can be done through the internet and in order to shorten the agony of you knowing how to do it, here is the procedure that you can follow in order for you to successfully apply for a personal loan:

  1. Duly accomplish the application form. You can access the site by going here.
  2. Scan and email the documents and requirements to [email protected]
  3. Patiently wait for email notification that BPI has received your application for the personal loan.

The application form that you have to fill out has two (2) parts:

  1. Loan Information – You have to put in the purpose of the loan, the amount, and the term(in months)
  2. Borrower Information – Your personal information

What are the requirements/documents I need to submit?

Just like any other thing, you would have to submit documents or requirements in order for you to successfully apply for a loan.

For Employees/Professional

  • At least two (2) government-issued photo-bearing ID. See the list of Valid IDs in the Philippines here.
  • 3 months of the original payslip or Latest Income Tax Return with BIR or Bank Stamp (BIR Form 2316)

For Self-Employed

  • At least two (2) government-issued photo-bearing ID
  • DTI Business Permit/ SEC Registration
  • Latest Income Tax Return (BIR Form 1700/1701)
  • Audited Financial Statements for the last 3 years.

For Overseas Worker

  • At least two (2) government-issued photo-bearing ID
  • Direct hire: Proof of Remittance, POEA OFW Information Sheet, or POEA Overseas Employment Certificate and Work Contract

Agency based: POEA Contract or Employment contract with boarding date

So these are the documents you need to submit after filling out the application form.  Do take note that the BPI needs to assess this and will get back to you once they are done checking and finalizing it.  Be patient in waiting for the confirmation so just sit back, relax, and hope that your loan gets approved.

Now you know how to apply for a loan with BPI.  Are you currently in need of a financial savior?  Do you want to apply for a personal loan for some other purpose or use?  Whatever that purpose may be, BPI is just behind your back to help you get through that problem.  Apply for a loan now and maybe, this is just what you need.

Read Also: How to apply bank loan with security bank

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