The Bank of the Philippines Islands (BPI) is making your dream car more attainable than ever with its flexible MyKotse program. This car loan program of BPI is offering extended loan tenors of 6 years and even up to 7 years, depending on the car’s engine displacement. Current banking industry standard tenor is 5 years.
Small engine displacement cars are qualified for the extended 6-year term while cars with 1.5-liter engine displacement or higher are qualified for the 7-year term.
BPI is currently offering the extended MyKotse program term until the cap limit is reached. But the bank also hinted at the possibility of it being offered as a standard term option in the future should demand for the extended car loan program increase.
Hot Summer Promo
Making your car purchase experience exciting, BPI announces Hot Summer Promo, an exciting all-in offer of low rates, free Insurance, waived bank fees, and a chance to win an all-expense paid trip for clients and partner brokers/dealer agents.
“As the thought leader in retail lending, our new promo will leverage on the ‘travel’ or ‘tourism’ mindset of consumers, by helping them get their own home or car while allowing them to have a chance to win a trip,” said BPI Retail Lending and Bancassurance Group Head Dennis Fronda.
The Hot Summer Promo will run from April 24 to May 31, 2023 and is open for auto and housing loan programs for online, branch, and dealer/developer-referred accounts. It is open to all individual and corporate clients whose applications are received within the promo period and booked on or before June 30, 2023 for auto loans, and on or before July 31, 2023 for housing loans.
The promo cannot be availed in conjunction with other existing BPI promo.
In order to qualify for BPI’s Hot Summer Promo, the minimum loan amount for auto loan is PHP 500,000, with a minimum loan term of 36 months or three years. For housing loans, the minimum loan amount is P1-million, with a minimum loan term of 10 years. This is applicable for all loan purposes, and for “My Bahay” accounts but with terms and conditions applied.
All accounts that will be booked under the BPI car loan promo are eligible for raffle entry. Every P500K loan amount is entitled to one raffle entry, with a maximum of four raffle entries or P2.5M loan amount.
For housing loans, all accounts that will be booked under the promo are eligible for raffle entry. For every increment of P1M loan amount will translate to one raffle entry, with a maximum of four raffle entries.
There will be 10 minor and one grand raffle winners for accounts booked until June 30 for auto loan and until July 31, 2023 for housing loan.
Winners for both the minor and grand raffle will be drawn 14 days after the promo period of June 14, 2023. Travel period must be from September 1, 2023 to August 31, 2024.
