Lists of BPI Auto Loan Requirements for Application

BPI AUTO LOAN REQUIREMENTS – You can check here the documents required by the Bank of the Philippine Islands in applying for the car loan.

One of the reputable banks that you may turn to for a car loan is the Bank of the Philippine Islands. More popularly called BPI, it is ready to finance the purchase of both brand new and pre-owned vehicles.

BPI also accepts the usage of a car as the collateral to obtain extra funds for multi-purposes. The loan offer is open for both employed and self-employed individuals and there are varying BPI Auto Loan requirements for application.

Before checking the documents required by the Bank of the Philippine Islands, it is best to check the qualifications in applying for the Auto Loan offer. To be eligible to apply for the loan, here are the qualifications that a loan applicant must meet:

• at least 21 years old upon the loan application
• not more than 70 years old upon the loan maturity
• earning a minimum household income of Php 30,000

With regards to the BPI Auto Loan requirements that must be submitted, there are varying lists among the employed individuals and the self-employed ones depending on the nature of income. Here’s a guide on the documents required by the bank for the Auto Loan application:

For Locally Employed Applicants

• duly-completed BPI Auto Loan Application Form
• two (2) valid Identitifcation Cards
• If married, both spouses must sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed
• Latest Certificate of Employment indicating salary, position and length of service with authorization to verify
• Latest 1 month pay slip or 3 months bank statement of payroll account with authorization letter to verify

For Commission-Based Applicants

• duly-completed BPI Auto Loan Application Form
• two (2) valid Identitifcation Cards
• If married, both spouses must sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed
• Latest ITR
• Certificate of employment stating commissions received prior year/months/period and Commisions Receivable, if any
• Bank statement where commision is credited, with authorization letter to verify

For Self-Employed Applicants

• duly-completed BPI Auto Loan Application Form
• two (2) valid Identitifcation Cards
• If married, both spouses must sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed
• DTI Registration or Mayor’s Permit
• Latest ITR with financial statements
• Working account (6mos) with authorization letter to verify
• Trade references with complete contact information
• Authorization letter to conduct trade verification

For Foreigner Applicants

• duly-completed BPI Auto Loan Application Form
• two (2) valid Identitifcation Cards
• If married, both spouses must sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed
• Valid Visa or Alien Certificate of Registration (ACR)

For Pensioner Applicants

• duly-completed BPI Auto Loan Application Form
• two (2) valid Identitifcation Cards
• If married, both spouses must sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed
• Certificate of Pension, with authorization letter to verify
• Bank statements of pension account (3 months), with authorization letter to verify

For Overseas Filipino Workers (OFWs)

• duly-completed BPI Auto Loan Application Form
• two (2) valid Identitifcation Cards
• If married, both spouses must sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed
• Latest Contract, with authorization letter to verify
• Proof of bank remittance, with authorization letter to verify
• Details of crewing manager for seafarers

For Applicants Practicing Professions with Own Business

• duly-completed BPI Auto Loan Application Form
• two (2) valid Identitifcation Cards
• If married, both spouses must sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed
• Working account with authorization letter to verify
• Latest ITR with AFS
• List of major trade references with complete details

Aside from BPI, another banking giant with a car loan offer is the BDO Unibank. Its offer is also packed with excellent features.