Guide on Whether A Collateral or Guarantor is Needed in Applying for BPI Personal Loan or Not
BPI PERSONAL LOAN – Here is a guide on whether a collateral or a guarantor is needed in applying for the Bank of the Philippine Islands’ Personal Loan offer or not.
Nowadays, running out of budget is not as scary as it was before. Why? There are now several options that you can consider for some financial assistance. Among these are the loans.
Aside from lending companies, most banks now offer loans. Let us take for example the Bank of the Philippine Islands. It has a personal loan offer – a multi-purpose type of loan.
The problem with loans is that some require a collateral – you will be needing a property or an account to present to the bank so you can borrow some money. With regards to BPI Personal Loan, there is no need for a collateral and even a guarantor.
There are minimal eligibility requirements in applying for the said BPI loan. The applicant must be:
- between 21 to 60 years old
- a Filipino citizen
- residing or working within 30 kilometers from a BPI branch
Do you want to know how much you can borrow under this offer? You may visit – Updated Minimum & Maximum Loanable Amounts Under It.
The process in applying for this loan offer is simple. For a guide, you may visit – BPI PERSONAL LOAN: How To Apply, Requirements In Applying.
With regards to how long before you can get the loan proceeds, it may be issued by BPI in one (1) to two (2) working days since the loan contract has been signed. The monthly payment can be done through automatic debit. You may pay for the loan in 12, 18, 24, 30, or 36 monthly installments.
Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.
READ ALSO: BPI LOAN OFFERS – Full List of BPI Personal & Business Loans