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All You Need to Know About the BPI Personal Loan

Last updated: April 11, 2024
Written by: Digido Financial Writers Team | Reviewed by: Anna Kireeva

Key takeaways:

  • Bank of the Philippine Islands (BPI) is one of the largest banks in the Philippines with a network of 1,173 branches and 2700 ATMs all over the country
  • BPI has a great line of personal loans, and a BPI cash loan is one of their offers
  • The bank has a strict loan policy that sorts through loan applicants according to the BPI loan requirements
  • If you have been rejected by traditional banks, an alternative to consider is Digido lending. It is fast, convenient, 100% online, and has an approval rate of 95%.
How much money do you need?
10 000
min ₱ 1 000
max ₱ 10 000
You will have to return*: 10 000
All your data is under secure protection!
*Interest payments are approximate. The final loan amount and interest rate must be confirmed in your loan agreement after loan approval
Who can get a Digido loan?
You are 21-70 years old
You are a Filipino citizen
You have a valid government ID

How to apply loan in BPI

A personal loan comes in handy in difficult life circumstances. They can help you out if you need cash for medical emergencies, face unexpected financial difficulties, or lack money to pay the bills in time. You can also request a BPI quick cash loan, if you expect higher spendings on a planned event, such as getting married, going on a trip or improving your home.

A good thing about a personal loan is that banks do not really ask you how you would spend it — and BPI is not an exception. Read this article, if you want to know how to arrange loans in BPI. We will tell you all details about a BPI bank loan: how to loan in BPI, how to pay a personal loan in BPI online, how long BPI personal loan processing time is and for what possible reasons your application can get declined.

How to apply a Personal Loan in BPI?

You can either request a BPI personal loan online or go to a bank branch. Before you do, read more about the loan on BPI’s website. There you will find out about the following features:

  • Benefits of applying for the personal loan
  • Documents to submit
  • BPI personal loan interest rates

The amount you can borrow is equal to your tripled gross monthly income and varies from PHP 20,000 up to PHP 3,000,000. The bank’s website also offers a BPI personal loan calculator. You can type the details of the loan, and see the BPI loan interest rate you have to pay on top of the principal debt, as well as the amount due every month.

You can also download the BPI personal loan online application form on the website. Fill it in at home, and submit it either online or at the branch once you get there. If you have any questions about the BPI personal loan requirements, BPI personal loan approval rate and time, call 24-hour Contact Center at (+632) 889-10000, the domestic toll-free number 1-800-188-89-100, or use the online form on the BPI page.

Get a Quick Personal Loan with 0% Interest!
  • Get up to PHP 25,000 in just 10 minutes
  • We only require 1 government valid ID
  • The loan approval rate is over 95%

Also Learn useful information on How to Get
Easy Cash Money loans in the Philippines Safely and Conveniently

BPI Personal Loan Requirements and Application Process

Generally, you need to submit an ID document that is signed, valid in the Philippines and has a photo. The most common ID documents are a passport and a driver’s license, but you can also use other documents indicated on the BPI’s webpage. Besides, you should open an account with BPI, submit your filled-in application form, and income proving documents.

The type of income document may vary and depends on your current employment status:

Employment status Income documents
Employed Payslips for the last three months will be the evidence of your earnings and your capacity to pay. If you have no payslip, you can present your latest income tax return (ITR). 
Self-employed Latest Audited Financial Statements or ITR. The financial statement is a document that your accountant prepares for the Bureau of Internal Revenue. 

SEC Business Registration Certificate is usually issued by the Department of Trade and Industry or the Securities and Exchange Commission.

Overseas Filipino Workers (OFW) hired through an agency You should present the latest valid and signed Philippine Overseas Employment Administration (POEA) contract or your employment contract at your agency.
Directly hired OFWs
  • A government issued ID
  • Statement of income for the last three months
  • Latest valid POEA Information Sheet or Overseas Employment Certificate
  • Latest Employment Contract
  • Consularized Certification of Employment 
Allottee Payment confirmation or the latest bank statement where payment transfer is credited

Latest valid POEA , Employment Contract, or consularized Certification of Employment

In addition to these basic requirements, banks often check the absence of any criminal record or a good credit standing of their potential clients.

You can choose to apply online by filling your form out and sending income documents to personal_loan@bpi.com.ph, or offline in the nearest bank branch. It usually takes 5 to 7 business days to approve or decline a BPI loan application.

How to know if BPI personal loan is approved?

You will be informed of the decision through SMS sent by the bank to the mobile number you specified in your contact details. Besides, if you already have a BPI online account, you can check your application status in the mobile banking application — your personal loan account will appear in your Portfolio page.

If you are granted a BPI personal loan, you will be asked to sign the loan agreement. It can be done online with the new DocuSign utility. The money will be transferred to you in about 1– 2 days.

Get your Quick Cash Loan in just a few minutes! Calculate your pre-approved loan amount with Digido calculator:

I want to borrow ₱ 10000
Min: ₱ 1000
Max: ₱ 20000
Payment Terms 10 days
7 days
21 days
My Monthly Gross Income ₱ 20000
You return*: 10 000
All your data is under secure protection!
We recommend taking a loan!

* Interest payments are approximate. The final loan amount and interest rate must be confirmed in your loan agreement after loan approval.

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The Best and Fsatest Phone loan Apps

BPI Personal Loan Interest Rate

So, how much is the BPI Personal Loan interest rate? The interest rate of the personal loan varies, and it depends on the tenure of your loan. The standard interest rate is 1.20% of the loan’s principal per month. The total interest rates per tenure are as follows:

  • 12 months – 25.6%
  • 24 months – 25.74%
  • 36 months – 25.59%
  • 48 months – 25.33%
  • 60 months – 25.03%

As you can see, the interest rate for the loan on any tenure is roughly 25% per month. Use the BPI loan calculator to find out your interest rate. If you loaned 1 million pesos, you would be paying roughly 250,000 pesos per year on interest.

Use the BPI loan calculator to find out your exact interest rate. The BPI portal states that the current maximum annual contractual rate of the personal loan is 25.60%, with the loan period varying from 1 to 5 years.

To determine your monthly payment, you can rely on the simple interest method. For example, you were granted the loan of PHP 150,000 for 18 months:

Simple interest Monthly principal
PHP 150,000*1.2% = PHP 1,800 + PHP 150,000/12 months = PHP 12,500.
Sum up the interest and the principal:
PHP 1,800 + PHP 12,500 = PHP 14,300

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Where to Get Loans With Bad Credit Score

How to Extend a BPI Personal Loan?

You can extend a BPI Personal Loan if your deposit account doesn’t have enough cash to pay back the cash loan. If you can’t pay your monthly installment, BPI will charge you with a 5% penalty. Be wary that repeated violations of your payment schedule can compromise your credit score and worsen your perspectives to be granted loans in future.

If you are having problems repaying your loan in time, you may try to negotiate a loan extension. These requests are assessed on a case-by-case basis, and the bank might offer you possible solutions such as a grace period, a loan deferral and a restructuring opportunity to choose from. T

Take note, however, that the loan interest is also going to increase. As your amortization length goes longer, you will also pay more on interests.

Digido Valid ID's

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Fast Loan in 15 Minutes in the Philippines

Why did I Get Refused a BPI Personal Loan?

Usually, banks are not obliged to inform you on why they declined your loan application. Still, there are several common reasons why your loan was not approved:

  1. Poor credit score. When evaluating a loan request, banks rely on the applicant’s credit history. To have a decent chance at loaning in BPI, you should have a credit score of not less than 600.
  2. Too much debt. The bank checks whether you have loans anywhere else. If bank officials decide that it will be difficult for you to repay so much, your BPI loan application will not be approved.
  3. Low income. Another factor that can affect the loan decision is your income. The minimum annual income you should have when applying for BPI personal loan is PHP 180,000.
  4. Higher amount requested. The bank can also reject your loan application, if the sum you want to receive is too high, considering your income level and the sum of debt you already have.
  5. Short term. If you need a loan for less than a year, BPI will decline your application. BPI cannot charge you its full interest potential if your loan tenure is too short.
  6. Failure to meet basic BPI loan requirements (age, citizenship, years of employment). Banks often state a maximum and minimum age of their borrowers. For example, BPI doesn’t grant loans to people younger than 21 and older than 60. At the age of 60, many people retire and don’t get paid a regular salary anymore. Therefore, the bank thinks that you might not have the capacity to pay.
  7. Incomplete and inconsistent details. Frequent mistakes and lack of consistency in your paperwork are another ground for declining your BPI personal loan application. When applying for a personal loan, double-check all your personal details and figures you fill in the application.

BPI needs some time to validate your identity, and then analyze the risk of lending money to you. If you don’t want to wait for a loan decision and you need money right away a certified and legitimate financial services Digido offers fast online loans with minimal requirements:

✅ Up to PHP 25,000 In only 10 minutes

✅ First loan with 0% interest rate

✅ Only one government-issued ID is required

✅ Easy and convenient online application in 5 minutes

✅ The loan approval rate is over 95%

Apply now

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What to do if you need Cash Fast in the Philippines

Alternatives for BPI quick loan

Normally, traditional banks needs some time to validate your identity and analyze the risk of lending money to you. If you are not willing to wait for 5-7 days until the bank makes a loan decision, or if you need the money right away, consider alternatives. One of them is requesting a loan from a certified online lender such as Digido.

If the terms and conditions of BPI are not suitable for you, you may want to consider an alternative. What we can recommend is Digido.

Digido Loans

Digido is an online loan company that you can get a personal loan online. You no longer need to queue to get a cash loan. All you have to do is to submit your documents online.

Loaning in Digido gives you a number of undoubted benefits such as:

  • Fast process. You can get approved in Digido in a few minutes; you do not have to wait for between 5 and 7 business days. The entire loan process, from application to disbursement, is automated and can be completed in as little as 15 minutes​​.
  • Multiple Repayment Options. Over 30 repayment channels are available, including digital banking and partner outlets like 7-Eleven, for ease and convenience​​.
  • No Hidden Charges. Digido is transparent about all loan details, including payment terms, interest rates, and related charges, with no hidden fees​​.
  • 100% online application. You do not have to go to a Digido office to request a loan or sign a loan contract; send your documents online, and you will learn about the decision via email or mobile.
  • Interest-Free First Loan: The first loan for new clients is interest-free, allowing repayment of only the principal amount borrowed​​.
  • Higher age limit. You cannot apply for a BPI quick loan if you are above 60 years old, however, you can do it with Digido. You can get a quick loan with us, if you are under 70 years old.

All operations are performed online - you don't have to leave your house
In only 4 minutes you can receive up to 10,000 pesos in your bank account, and up to 25,000 pesos for repeat borrowers.
We don't require guarantors representation, documentation, or guarantee deposits.
We only require 1 government valid ID

Here are the requirements to be able to loan in Digido:

  • You must be a Filipino citizen; you can prove this with a government ID
  • You must be between 21 and 70 years old
  • You must be employed or have a legitimate source of income
  • You must have a working mobile phone number.

As you can see, getting a loan at Digido is much easier. The application process is fast, and it is likely that you get approved. However, the loan amount is also small. You cannot loan millions of pesos in Digido.

To apply for a loan in Digido, just click on the Apply Now button, and fill out a short application from your smartphone. Get prepared to take a picture of your IDs and other documents, and then just attach these pictures in your online application form.

Apply now

how to get cash loans in 1 hour in the Philippines


  • How many days does approval for a BPI personal loan take?
    BPI loan approval time is 5 to 7 business days.
  • What are BPI charges for personal loans?
    The minimum one-time processing payment is PHP 1,500. If your loan is more than PHP 250,000, you will have to pay the additional 1.50 for every PHP 200 of loan as the Documentary Stamps Tax.
  • How to pay a personal loan in BPI online?
    The procedure of BPI personal loan payment is as follows. Log in to BPI Online or BPI Mobile and select Pay Bills. You can also use the Auto Debit Arrangement (ADA). The installment amount will be automatically debited on your scheduled due date from your BPI deposit account.
  • How to Get a Renewal in BPI?
    To get a BPI Personal Loan renewal, you have to go to the bank and speak to the manager. You have to explain your situation, and the bank is going to extend your loan. Since this loan has no collateral, the bank is not going to seize any of your assets. Your loan renewal application is certainly going to be approved.
  • How to track a BPI personal loan application?
    If you are already a BPI customer and have a BPI online account, your personal account will automatically show the loan in your Portfolio page.
  • May I apply for a BPI cash loan, if my monthly income is below the stated requirements?
    BPI incorporated a multi-faceted risk assessment system to lessen the possibility of dealing with overdue payments. The reported monthly income is one of the key factors that determine the outcome of the loan application.
Disclaimer and Editor’s note


Digido Financial Writers Team is a team of experts in the field of finance and credit, specializing in writing articles for Digido blogs.
Anna Kireeva
Author pages:
Anna is a marketing communications professional who specializes in digital marketing strategies and long-form content.

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