BPI launches auto, housing loan promo

THE Bank of the Philippine Islands (BPI) recently launched its Hot Summer Promo, enabling Filipino families to own their dream cars and homes.

“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 Dennis Fronda, BPI Retail Lending and Bancassurance Group Head. All-expense paid trip up for grabs

BPI is looking to generate 30 percent higher business volume for auto and housing through BPI’s Hot Summer Promo, an 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.

Winners will be rewarded with an all-expense paid trip to a domestic or international destination.

The auto and housing loan promo offers will run from April 24 to May 31, 2023 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 any other existing promo of the Bank.

My Kotse, My Bahay

The minimum loan amount for an auto loan is P500,000, with a minimum loan term of 36 months or three years. This is applicable to brand new passenger cars (SUVs, pickups) and big bikes, and must be for personal/private use.

Also through the MyKotse program, BPI becomes the only bank in the Philippines to offer extended loan tenors of 6 years and 7 years, depending on the car’s engine displacement, from the industry standard tenor of 5 years.

For housing loands, 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 auto loan promo are eligible for raffle entry (for every 500K loan amount = 1 raffle entry), with a maximum of four raffle entries or P2.5-million loan amount. For housing loans, all accounts that will be booked under the promo are eligible for raffle entry (for every increment of P1million loan amount = 1 raffle entry), with a maximum of four raffle entries.

There will be 10 minor and one grand raffle winner/s for accounts booked until June 30 (auto loan) and until July 31, 2023 (housing loan).