Metrobank vs BPI car loan 2026

By Aditya AmanPublished Sep 28, 2026Editorial PolicyLives in the Philippines and has driven nearly every Luzon expressway with his family.

On the same ₱1,000,000 brand new car loan over 60 months, Metrobank costs ₱125 less a month. Below: every term, your own car, and where each bank is ahead.

Lower monthlyMetrobank

Lower minimum incomeBPI

Lends on second-hand carsBPI

Metrobank vs BPI rates by term

Brand new car, ₱1,000,000 loan. The lower monthly payment at each term is marked.

Pay over	Metrobank rate	Metrobank monthly	BPI rate	BPI monthly	Difference a month
12 months	5.19%	₱87,658	5.43%	₱87,858	₱200 less at Metrobank
18 months	7.61%	₱59,783	7.73%	₱59,850	₱67 less at Metrobank
24 months	10.74%	₱46,142	11.30%	₱46,375	₱233 less at Metrobank
36 months	16.90%	₱32,472	17.76%	₱32,711	₱239 less at Metrobank
48 months	23.55%	₱25,740	24.13%	₱25,860	₱121 less at Metrobank
60 months	30.26%	₱21,710	31.01%	₱21,835	₱125 less at Metrobank

Metrobank: add-on rate for the whole term. BPI: add-on rate for the whole term. Standard rates.

Metrobank vs BPI, point by point

Point	Metrobank	BPI
Interest rate, brand new	5.19% to 30.26% add-on	5.43% to 31.01% add-on
Monthly on ₱1,000,000, 60 months	₱21,710, about 10.9% a year	₱21,835, about 11.2% a year
Down payment	Minimum varies by vehicle type	From 15%
Loan term	12 to 60 months	1 year minimum, up to 5 years
Loan amount	Minimum loan: ₱350,000	Loan amount, brand new: ₱200,000 minimum, up to 85% of the purchase price
Second-hand cars	Not stated by Metrobank	Yes, with its own rates
Minimum income	₱40,000 a month (family)	₱30,000 a month (household)
Decision	As fast as 3 business days	Not stated by BPI
Fees	DST ₱1.50 per ₱200; notarial ₱300 to ₱400	LTO encumbrance ₱500; mortgage cancellation ₱800
Late payment	5% a month on the unpaid amount	Not stated by BPI
Paying early	₱7,500 pre-payment processing fee	Promo loans: no early payment in the first 3 years
How to apply	Apply online, visit your nearest branch, or call the contact center	Apply through the online application form, at any of over 800 BPI branches, or at an accredited dealership

Documentary stamp tax of ₱1.50 per ₱200 of the loan is a national tax and applies at every bank.

Requirements: Metrobank vs BPI

What each bank asks an employed borrower for. Business owners and OFWs: see each bank's page.

Metrobank

Filled-out and signed Metrobank Car Loan application form
One valid government-issued ID, preferably a passport

Metrobank car loan in full

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

BPI car loan in full

Metrobank or BPI: questions

Which is better, Metrobank or BPI car loan?

On the same ₱1,000,000 brand new car loan over 60 months, Metrobank costs ₱125 less a month (₱7,500 over the loan). Metrobank down payment: minimum varies by vehicle type; BPI: from 15%. Metrobank decision: as fast as 3 business days; BPI: not stated by bpi.

Which has the lower car loan rate, Metrobank or BPI?

Over 60 months for a brand new car, Metrobank charges 30.26% add-on (₱21,710 a month on ₱1,000,000) and BPI 31.01% add-on (₱21,835). Compare the monthly payment, not the rate, when the two banks charge interest differently.

Which needs a lower down payment, Metrobank or BPI?

Metrobank: Minimum varies by vehicle type. BPI: From 15%.

More bank comparisons

Not set on these two? Answer 5 questions to see the three car loans that fit you best.

How we compare car loans.