BPI Family Savings Auto Loan
BPI Family Savings Auto Loan offers auto loan rates from 7% – 14% p.a. with terms up to 48 months and a minimum down payment of 20%. BPI Family Savings is the thrift bank subsidiary of BPI. Maximum financing amount reaches ₱2,000,000, and applications can be filed at 200+ branches.
Interest Rate
7% – 14% p.a.
Loan Term
12 – 48 months
Down Payment
20%
Processing
3 – 5 business days
Maximum loan amount: ₱2,000,000
Requirements
Valid government-issued ID (passport, driver's license, or UMID)
Proof of income (latest 3 months payslips or ITR)
Proof of billing address (utility bill dated within 3 months)
Special Power of Attorney if applicant is an OFW
2 x 2 ID photo
Latest 3 months bank statements
TIN (Tax Identification Number)
Photocopy of vehicle documents (OR/CR for used cars)
Pros & Cons
Advantages
- Rates start at 7% p.a. — strong among Philippine bank auto loans.
- Maximum financing of ₱2,000,000 covers most new vehicles on the market.
- Loan terms up to 48 months keep monthly payments as low as ~₱53,333/month.
- Minimum down payment of just 20% reduces upfront cash needed.
- Applications accepted at 200+ branches.
Drawbacks
- Maximum rate of 14% p.a. applies to used cars or longer terms.
- Requires at least 20% down payment — on a ₱2,000,000 vehicle that means ₱400,000 cash upfront.
- Processing takes 3 – 5 business days, slower than some dealer-arranged financing.
- Minimum gross monthly income requirement of ₱30,000 excludes entry-level earners.