Metrobank vs BPI Auto Loan
Side-by-side comparison of Metrobank (5.49% starting rate, 60 months) vs BPI (6.5% starting rate, 60 months). This guide breaks down interest rates, loan terms, down payment requirements, approval speed, and total cost of ownership for Philippine car buyers in 2026.
Interest Rate
Varies by lender
Loan Term
12 – 60 months
Down Payment
20%
Processing
3 – 7 business days
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)
2 x 2 ID photo
Special Power of Attorney if applicant is an OFW
Filled-out auto loan application form
Pros & Cons
Advantages
- Metrobank offers rates from 5.49% — 60 months.
- BPI offers rates from 6.5% — 60 months.
- Both options allow 20% minimum down payment for brand-new vehicles.
- This comparison saves you time by consolidating rate, term, and requirement data.
- Clear winner identified for different buyer profiles (rate-sensitive, convenience-focused, low-income).
Drawbacks
- Metrobank maximum rate may reach 14% p.a. on longer terms or used cars.
- BPI maximum rate may reach 16% p.a. under less favorable conditions.
- Neither provider guarantees the advertised starting rate — actual rate depends on credit assessment.
- Switching lenders mid-term incurs pre-termination penalties of 3–5% of the remaining balance.
Frequently Asked Questions
Which is better, Metrobank or BPI auto loan?
What is the Metrobank auto loan rate in 2026?
What is the BPI auto loan rate in 2026?
Can I switch from Metrobank to BPI mid-term?
How do I choose between two car loan providers?
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