BPI Launches ‘Hot Summer’ Auto, Housing Loan Promo

“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. With the continuous recovery of the economy and upbeat consumer confidence in spending, we will continue to explore new opportunities to capture a wider market share. This will be done through remarkable payment solutions and exciting offers such as the BPI Hot Summer Promo to our clients.” ~Dennis Fronda, BPI Retail Lending and Bancassurance Group Head

As part of its Hot Summer Promo, one of the bank's initiatives to support nation-building by enabling Filipino families to own their dream cars and homes, the Bank of the Philippine Islands (BPI) is enhancing Filipinos' ability to obtain auto and housing loans.

BPI Launches ‘Hot Summer’ Auto, Housing Loan Promo

BPI's Hot Summer Promo, an exciting all-in offer of low rates, free insurance, waived bank fees, and the chance to win an all-expenses-paid trip for clients and partner brokers/dealer agents, is expected to increase BPI's auto and housing business volume by 30%.

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

Promo Mechanics

For online, branch, and dealer/developer-referred accounts, the auto and housing loan promotional offers will be available from April 24 to May 31, 2023.

It is available to all individual and corporate clients whose applications are gotten inside the promotion period and set up for or before June 30, 2023 for car credits, and at the very latest July 31, 2023 for lodging advances.

The promo cannot be availed in conjunction with any other existing promo of the Bank.

For auto loans, the minimum loan amount is P500,000, and the minimum loan term is 36 months, or three years. This is relevant to pristine traveler vehicles (SUVs, pickups) and enormous bicycles, and should be for individual/confidential use.

In addition, BPI becomes the only bank in the Philippines to offer extended loan terms of 6 years and 7 years—depending on the car's engine displacement—instead of the industry standard of 5 years thanks to the adaptable MyKotse program.

For housing loan, the minimum loan amount is P1 million, with 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-expense paid trip

There can be a maximum of four raffle entries or a P2.5 million loan amount for each account booked under the auto loan promotion (one raffle entry for every 500K loan amount). All accounts booked under the promotion for housing loans are eligible for raffle entry, with a maximum of four raffle entries for each P1M loan amount increment.

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).

BPI Retail Lending Group Management Committee: Top L-R: Redilberto Lopez - Auto Loan Division Head, Dennis Fronda - Retail Lending and Bancassurance Group Head, Mark Launcel Panizales - Retail Lending Product Marketing Division Head Bottom L-R: Noreene Cayco - Channel Management and Bancassurance Division Head, Bernadette Ocampo - Housing Loan Division Head, Edelinda Tined - Models, Analytics, and Insighting Division Head.

Winners for both the minor and grand raffle will be drawn 14 days after the promo period (June 14, 2023). Travel period must be from September 1, 2023 to August 31, 2024.