Loan Amount 12 Months
Loan Amount 12 Months
Loan Amount 12 Months
BSBM 1-C
BPI - Policies
For applying a short term loan on Bank of the Philippine Island (BPI), requirements are
needed such as Government issued photo-bearing Id’s and three months of original pay slip or
latest income tax return with BIR or Bank stamp. In this bank the borrower may get as much as
three times of the borrowers gross monthly income with the amounts ranging from PHP 20,000
to PHP 1,000,000 depending on banks approval. Upon borrowing the borrower can pay his/her
monthly installments thru his/her BPI deposit account. The borrower may pay in advance
without any penalty and fees but failing to pay the monthly installment will cause a 5% additional
penalty fee. Applying for a short term loan in BPI a onetime processing fee of 1,500 is needed. It
will be deducted from the loan proceeds once avail. The processing time for approval takes five
to seven working days from signing of the loan documents. The first installment is to be due 1
month from the date the loans proceeds credited to the borrowers account. Renewal of a loan is
impossible but re-applying for a new one is good, borrower is credit for approval.
20,000 1,907
30,000 2,860
50,000 4,767
Having a short term loan on land bank requires the borrower that must be a Filipino
citizen at least 21 years of age but no more than 65, and has to be employed or have a
profitable business. For general requirements a fully filled loan application form a certificate of
employment, billing statements such as; electric bills, phone bills, water bills and credit card bills
and a latest pay slip declaring your net take home pay. Applying for a loan usually take around
thirty working days and the borrower will be notified by Land Bank if the borrower’s application is
approved.
In Land Bank there are many types of short term loans such as:
Is where the borrower may use the loan for purchasing a housing lot, residential lot, town
house and also can be used for home renovation and refinancing an existing mortgage loan.
This is a type of loan mad for borrowers that are OFWs allowing them to acquire, build or
20,000 1800
30,000 2700
50,000 4500