BPI Family unveils unique consumer loan

MANILA, Philippines - BPI Family Savings Bank is now offering a 10-percent rebate based on the loan amount at the end of the 60-month loan term. The borrower can use this amount as downpayment for a new car, either as an upgrade to current one or simply to add one more for the growing needs of the borrower’s family. Likewise, the borrower can opt to use the rebate as part of a downpayment for a new condo/house or new franchise business. The BPI Family Auto Loan’s Money Back Promo requires clients to pay a tad more each month compared to the regular BPI Auto Loan. However, the client receives a guaranteed return that is considerably higher than the interest earned from any deposit account available in the market today. For example, purchasing a car worth P1.25 million with a P250,000 (20-percent) downpayment under the regular auto loan means having to pay monthly amortizations that total to P1.265 million for the 60-month loan term. However, with the Money Back promo monthly payments sum up to P1.331 million. The borrower pays P66,000 more in amortizations (P1,100 more per month) but in turn receive P100,000 (10 percent of P1-million loan amount) that translates to a guaranteed net return of P34,000 from the P66,000 investment. This gives more value for your money as the client earns while owning a brand new car. The 10-percent Money Back Promo runs from June 3 to Aug. 31, 2014. For more details, visit any BPI/BPI Family Savings Bank branch, your preferred car dealer, or log on to www.bpiloans.com.