BPI to offer auto, housing loans at in-branch event

BANK of the Philippine Islands (BPI) will offer exclusive financing products for vehicles and housing during an in-branch loan festival next week.

BPI’s Best Deals Fest will run from June 20 to 24 in all its branches nationwide. The bank is targeting to deliver 20% more bookings of auto and housing loans through the event.

“Consumer confidence is back. Car and home purchases are back in demand as Filipinos move forward and continue to pursue their aspirations,” BPI Retail Lending Group Head Dennis T. Fronda said in a statement on Wednesday. “The Best Deals Fest is a perfect opportunity for aspiring car and homeowners to get their dream home and car, as BPI and our partners have exclusive offers for them.”

“This activity will show the relevance of a brick-and-mortar branch as a one-stop shop for their financial needs. In this case, their home and auto loans,” Mr. Fronda said. “While there is convenience in using digital platforms for usual financial transactions, big purchases like a house or a car will be made more convenient for the clients if assisted in a branch.”

In 2021, BPI’s auto loan portfolio saw bookings rise by 37% year on year, while its housing loan portfolio also grew by 10%.

Through the bank’s Exclusive Partner Offers promo only available during the event, clients can get large cash discounts, low interest rates, and waived fees on vehicles and properties from participating car brands and real estate developers.

Customers can also avail of the bank’s Flex-Rewards promo, where they can get up to P50,000 worth of rewards for every P500,000 in auto loans and for every P1 million in housing loans.

BPI partner merchants Ford Motor Co., Ayala-led AC Motors, and Ayala Land, Inc. will be part of the event.

BPI’s net income climbed by 59.6% year on year to P8 billion in the first quarter, buoyed by higher interest earnings and lower loan loss provisions as asset quality improved. — TJT