BPI Launches ‘Hot Summer’ Auto, Housing Loan Promo

BPI Launches ‘Hot Summer’ Auto, Housing Loan Promo

The Bank of the Philippine Islands (BPI) is strengthening the capacity of Filipinos to avail auto and housing loans as it launches 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.

“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

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.

BPI expects to generate 30 percent higher business volume for auto and housing through BPI’s Hot Summer Promo, an exciting all-in offer of low rates, free Insurance, waived bank fees, and a chance to win an all-expense paid trip for clients and partner brokers/dealer agents.

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

Promo Mechanics

The auto and housing loan promo offers will run from April 24 to May 31, 2023 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, 2023 for auto loans, and on or before July 31, 2023 for housing loans. 

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

The minimum loan amount for auto loan is P500,000, with a minimum loan term of 36 months or three years. This is applicable to brand new passenger cars (SUVs, pickups) and big bikes, and must be for personal/private use.

Also through the flexible MyKotse program, BPI becomes the only bank in the Philippines to offer extended loan tenors of 6 years  and 7 years, depending on the car’s engine displacement, from the industry standard tenor of 5 years. 

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 

All accounts that will be booked under the auto loan promo are eligible for raffle entry (for every 500K loan amount = 1 raffle entry), with a maximum of four raffle entries or P2.5M loan amount. For housing loans, all accounts that will be booked under the promo are eligible for raffle entry (for every increment of P1M loan amount = 1 raffle entry), with a maximum of four raffle entriest. 

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).

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.

BPI shares six ways to do a digital clean up

Sharing personal data may be inevitable when we do various online transactions. However, it is best if we make it a habit to wipe clean the digital trail we create as we use gadgets and applications 24/7. 

“Doing so will protect you from identity theft, loss of funds, even damage to your reputation by the use of stolen personal data. Your digital footprint might be there to stay, but you can limit your vulnerability to scammers and fraudsters. Consider these tips to keep your personal information safe from their craftiness that grow by the year. Make digital clean-up a habit today.” ~Jonathan John B. Paz, BPI Enterprise Information Security Officer and Data Privacy Officer

To protect your privacy and avoid being a fraud victim, here are six ways to do a digital clean up:

1. Delete your personal data from old devices before disposing, reselling, or donating them. For computers, use a disk cleaning software to permanently delete information. For smartphones and tablets, do a factory reset. For other devices, in addition to doing a hard reset, remove hard drives and memory cards, if any. 
2. Secure your smartphones by uninstalling apps that you do not need because they not only waste energy but could also be exploited to leak information. Clear storage space of files and remove duplicates—check for downloads, media files, and messages that you do not need anymore. 
3. Deactivate or close the accounts you registered in the apps before uninstalling them. Purging those that you no longer use is a good way to minimize your digital footprint and lessen the likelihood of data leakage. Think twice before installing an app and creating an account, and ask yourself if it will serve your purpose. Do not reuse passwords across online services, especially passwords that you use for online banking.
4. Do a digital clean up of your computers to prevent data from loosely lying around. Delete all files that you no longer need and organize those you will keep. Uninstall unused programs. Uninstall unimportant web browser extensions that you might have inadvertently enabled. Clear your cache to delete personal information you may have used in answering online forms.
5. Organize your email inbox by categories: promotions, chat message notifications, social media notifications, past events or announcements, etc. Be cautious in sharing your email address and make a note to whom you do. Unsubscribe from newsletters that no longer serve your purposes. Reply to new emails at once so they don’t pile up.
6. Use your social media accounts wisely to prevent scammers from harvesting your personal information. Review your privacy settings and enable multi-factor authentication wherever available. Delete old and unused accounts. Delete posts that reveal too much of yourself or are not relevant anymore. Do not overshare. Be cautious of what or with whom you engage online.