Bank aims for more auto loans with strengthening economy


    BPI Family Savings Bank (BFSB), the largest thrift bank in the Philippines, is aiming for more auto and housing loans this year as the purchasing power of Filipinos continue to be strong and the economy remains healthy.

    BFSB President Ma. Cristina Go said BFSB, which celebrated its anniversary in July, has launched an All-Out promo to help achieve this goal. All approved applicants for auto and housing loans will get to enjoy exclusive cash discounts and freebies from July to October this year.

    “We have been helping our customers realize their life goals for decades now and we are grateful for their trust and support. This year, we celebrated our anniversary with a special offering that will enable more Filipinos to reach their dreams sooner rather than later,” Ms. Go said.

    “We believe that every Filipino deserves a comfortable life and the best for every centavo that they have worked for, which is why we give as much as we can to clients,” said Dennis Fronda, Head of BFSB Retail Loans.

    Last year, BFSB has disbursed a total of P20.4-billion auto loans and more than P38-billion housing loans, P6-billion of which are for low-income housing projects.  BFSB aims to make it easier for more Filipinos to secure their own family home. More than the security it provides, it becomes an investment enabling them to build their assets over time.

    Under a limited time offer, BPI Family Housing Loan applicants can acquire their dream house for as low as 20 percent downpayment, and a longer payment term of up to 25 years, which translates to more affordable monthly amortizations.

    BFSB through its All Out promo also lowered its rate from 7.88% to 6.88% as an anniversary offer, which is also fixed for five years, thereby protecting its clients from interest rate fluctuations. It has also waived up to P50,000 worth of fees, which include handling, appraisal, registration and notarial fees.

    For auto loans, clients can save up to P50,000 on chattel mortgage and first year comprehensive insurance.

    BFSB also partnered with selected car dealers for exclusive deals. These include a free P147,000 all-new KTM 200 Duke, and up to P210,000 exclusive discount for BPI Family Auto Loan availers who are buying either an Isuzu Mu-X 3.0LS-A AT, or DMAX RZ4E LS MT or AT in Luzon or Metro Manila participating dealers. Apart from that, clients may also get P200,000 worth of accessories and other freebies such as insurance, LTO registration, tint, and floor matting.

    For those eyeing Honda cars, excusive discounts up to P130,000 are being offered, plus free three years LTO registration and three years warranty, apart from other freebies. BFSB also extends free Preventive Maintenance Schedule (PMS) for up to five years to buyers of Mazda CX-5, CX-9, and MX-5.