BPI vs PSBank car loan 2026
By Aditya AmanPublished Sep 28, 2026Editorial PolicyLives in the Philippines and has driven nearly every Luzon expressway with his family.BPI and PSBank side by side: rates, down payment, requirements and how to apply, with a calculator for your car.
BPI vs PSBank: monthly payment for your car
Pick your car and down payment. Both banks are priced on the same loan, so the difference is real.
Example car, ₱1,250,000, 20% down, 60 months, brand new
₱21,835/mo
31.01% rate, ₱1,560,600 in all
PSBank quotes its rate when you apply.
BPI vs PSBank rates by term
Brand new car, ₱1,000,000 loan. The lower monthly payment at each term is marked.
| Pay over | BPI rate | BPI monthly | PSBank rate | PSBank monthly | Difference a month |
|---|---|---|---|---|---|
| 12 months | 5.43% | ₱87,858 | – | – | – |
| 18 months | 7.73% | ₱59,850 | – | – | – |
| 24 months | 11.30% | ₱46,375 | – | – | – |
| 36 months | 17.76% | ₱32,711 | – | – | – |
| 48 months | 24.13% | ₱25,860 | – | – | – |
| 60 months | 31.01% | ₱21,835 | – | – | – |
BPI: add-on rate for the whole term. PSBank quotes its rate on application. Standard rates.
BPI vs PSBank, point by point
| Point | BPI | PSBank |
|---|---|---|
| Interest rate, brand new | 5.43% to 31.01% add-on | Given with PSBank's quote |
| Monthly on ₱1,000,000, 60 months | ₱21,835, about 11.2% a year | Given with PSBank's quote |
| Down payment | From 15% | At least 20% of the selling price |
| Loan term | 1 year minimum, up to 5 years | 12 to 60 months |
| Loan amount | Loan amount, brand new: ₱200,000 minimum, up to 85% of the purchase price | Minimum loan: ₱100,000 for brand-new cars; ₱300,000 for second-hand units (the bank's pages differ: ₱300,000 for all elsewhere) |
| Second-hand cars | Yes, with its own rates | Yes |
| Minimum income | ₱30,000 a month (household) | PSBank decides case by case |
| Decision | Not stated by BPI | Credit decision by SMS in as fast as 24 hours |
| Fees | LTO encumbrance ₱500; mortgage cancellation ₱800 | Chattel mortgage, insurance, Registry of Deeds and LTO encumbrance fees at booking; loan certification ₱100 |
| Late payment | Not stated by BPI | 5% a month on each unpaid installment |
| Paying early | Promo loans: no early payment in the first 3 years | Not stated by PSBank |
| How to apply | Apply through the online application form, at any of over 800 BPI branches, or at an accredited dealership | Apply online; the online facility takes individual applications only |
Documentary stamp tax of ₱1.50 per ₱200 of the loan is a national tax and applies at every bank.
Requirements: BPI vs PSBank
What each bank asks an employed borrower for. Business owners and OFWs: see each bank's page.
BPI
- Completed application form; both spouses sign if married, and a co-borrower fills in a separate form
- 2 valid IDs, for example PhilSys, SSS, driver's license or passport
- Pensioners: certificate of pension and 3 months of pension account bank statements
PSBank
- Completely filled-out PSBank Auto Loan application form
- Copy of 1 valid primary ID or 2 valid secondary IDs
BPI or PSBank: questions
Which is better, BPI or PSBank car loan?
BPI and PSBank differ on down payment (From 15% vs At least 20% of the selling price) and decision time (Not stated by BPI vs Credit decision by SMS in as fast as 24 hours). PSBank quotes its rate when you apply, so ask for it in writing to compare.
Which needs a lower down payment, BPI or PSBank?
BPI: From 15%. PSBank: At least 20% of the selling price.
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Not set on these two? Answer 5 questions to see the three car loans that fit you best.