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April 25, 2023

BPI Now Offering Up To 7-Year Auto Loans; Offers Waived Fees, Raffle For Limited Time

The Bank of the Philippine Islands (BPI) is strengthening the capacity of Filipinos to avail of auto loans with their flexible MyKotse program.

With MyKotse, BPI becomes the only bank in the country to offer an extended loan tenure of six and seven years (depending on the car’s engine displacement) from the industry standard tenure of five years.

Further enticing customers is their Hot Summer Promo which runs until May 31 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.

Through the Hot Summer Promo, BPI is offering all-in low rates, free insurance, waived bank fees, and a chance to win an all-expense paid trip for clients and partner brokers/dealer agents.

With a minimum auto loan of P 500,000 (minimum loan term of 36 months or three years) and applicable to brand-new passenger cars (including pickups and SUVs) and big bikes for personal/private use, accounts will be eligible for a raffle entry (for every P 500,000 loan amount = one raffle entry), with a maximum of four raffle entries or P2,500,000 loan amount.

BPI will award 10 minor and one grand raffle winner/s for accounts booked until June 30 for auto loans. Winners for both the minor and grand raffle will be drawn 14 days after the promo period (June 14). Travel period must be from September 1, 2023 to August 31, 2024.

Winners will be rewarded with an all-expense paid trip to Boracay or Singapore.

“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.

BPI expects to generate 30 percent higher business volume for auto and housing through the promo.

“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,” said Fronda.

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