Bank of the Philippine Islands (BPI) — Complete Review of Accounts, Loans, Credit Cards, Digital Banking, and More - LoanAppsPH – Loans, Credit Cards, Banks & More

Bank Information

Bank of the Philippine Islands
Phone: (+632) 889-10000
Head Office.: BPI Building, 6768 Ayala Avenue, Makati City, Metro Manila, Philippines
Mailing Address:
Bank Reviews: 2
Rating
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Bank Details

License: Universal Bank (Licensed by Bangko Sentral ng Pilipinas)
Official Website: http://www.bpi.com.ph

🏦 Introduction

The Bank of the Philippine Islands (BPI) is one of the oldest and most established banks in Southeast Asia. Founded in 1851, BPI is now a leader in consumer banking, loans, digital banking, and financial innovation in the Philippines.

Whether you’re looking to open a savings account, apply for a personal or business loan, get a credit card, or simply use a fast and secure mobile banking app, BPI is consistently among the top choices.

This review covers everything you need to know about BPI — from its history and services to how it compares to other banks like CIMB, LANDBANK, and Tonik.

🏛️ About BPI: History, Structure, and Mission

Bank of the Philippine Islands (BPI)

Bank of the Philippine Islands (BPI) is a private universal bank and a subsidiary of the Ayala Corporation — one of the largest conglomerates in the country.

  • Established: August 1, 1851

  • Ownership: Ayala Corporation (Major Stakeholder)

  • License: Universal Bank (BSP-licensed)

  • Branches: Over 850 nationwide

  • ATMs: 3,000+

  • Digital reach: Mobile app, BPI Online, QR PH, Instapay, PESONet

BPI was the first bank in the Philippines and Southeast Asia, pioneering many services including ATM banking, online banking, and mobile wallets.

💳 Types of Accounts at BPI

BPI offers a wide range of account types to suit every need:

1. BPI Savings Accounts

  • BPI Regular Savings — ₱3,000 opening deposit

  • Saver Plus — with higher interest, ideal for long-term savers

  • Padala Moneyger — designed for OFWs and remittance receivers

  • Jumpstart Savings — for students and young adults (10–24 y/o)

  • Maxi-Saver — high balance, high interest, with bonus rates

All accounts come with:

  • ATM card or EMV debit card

  • Access to BPI Online and Mobile App

  • Instapay & PESONet transfers

  • eStatements and SMS alerts

2. Checking Accounts

  • BPI Regular Checking — minimum ₱10,000

  • BPI Business Checking — tailored for SMEs

  • Payroll Checking — for corporate employee salary disbursement

3. Time Deposits and Investments

  • Short-term time deposits with competitive rates

  • BPI UITFs (Unit Investment Trust Funds)

  • BPI Trade (for stock investments)

  • Bonds and insurance-linked products

These options are great for those looking to grow wealth while maintaining security.

💳 BPI Credit Cards

BPI is one of the largest credit card issuers in the country, offering a wide variety of cards:

  • BPI Amore Cashback Card

  • BPI Blue Mastercard

  • BPI Edge Card (ideal for students and starters)

  • BPI Gold Mastercard

  • BPI Platinum Rewards

  • BPI Signature Card (premium travel and lifestyle benefits)

Key Benefits:

  • 0% Installment up to 36 months

  • Real-time e-statements and card control via app

  • Cashback and rewards points

  • Travel insurance and purchase protection for higher-tier cards

Credit Card Requirements:

  • At least ₱15,000–₱40,000 monthly income (depending on card)

  • Proof of income (payslip, COE, ITR)

  • Valid ID and residence documents

  • Credit history review

💰 BPI Loans and Financing

1. Personal Loans

  • Loan amount: ₱20,000 to ₱2,000,000

  • Terms: 12 to 36 months

  • Interest: ~1.2% monthly (~14–15% annual effective rate)

  • Disbursement: Within 5–7 business days

  • Requirements: Valid ID, income proof, active BPI account

BPI Personal Loans are great for emergency needs, tuition, travel, or medical bills.

2. Auto Loans

  • Up to 80% financing

  • Terms: 12 to 60 months

  • Applicable for brand-new or used vehicles

  • Offers tie-up promos with dealers and insurance

3. Housing Loans

  • For home purchase, construction, renovation

  • Up to 90% property value

  • Fixed interest rate options (1, 3, 5 years)

  • Long term up to 20 years

4. Business Loans

BPI offers business financing through:

  • Ka-Negosyo Loan for SMEs

  • Working Capital Loan

  • Franchise Loan

  • Corporate Lending for large companies

With simplified approval and lower interest for partner brands, BPI is among the top choices for entrepreneurs.

📱 BPI Online Banking and Mobile App

In the fast-paced world of financial technology, BPI has kept up by offering robust and user-friendly digital platforms that allow customers to manage their money 24/7 from anywhere in the world.

1. BPI Online

Accessible through bpi.com.ph, the online banking portal allows users to:

  • View balances and transaction history

  • Transfer funds via InstaPay and PESONet

  • Schedule recurring payments

  • Manage credit card and loan payments

  • Open additional accounts digitally

  • Block or replace cards online

Registration takes only a few minutes if you already have a BPI account.

2. BPI Mobile App

Available for iOS and Android, the BPI app is one of the most downloaded banking apps in the Philippines.

Features:

  • QR code payments and transfers

  • Mobile check deposit

  • Real-time transaction alerts

  • Budgeting and financial tools

  • Touch ID/Face ID support

  • Access to investment and insurance portfolios

BPI also integrates with GCash, Maya, and QR PH, making it a seamless experience for digital finance users.

📝 How to Open a BPI Account (Step-by-Step)

Opening an account with BPI is simple and convenient. It can be done online or in-branch, depending on the account type.

🟩 Requirements:

  • At least 18 years old

  • 1–2 valid government-issued IDs

  • Proof of billing or residence

  • Source of income (for certain accounts)

  • Initial deposit: ₱3,000+ (varies by account)

🟢 Opening Online:

  1. Visit the BPI website or download the mobile app

  2. Choose “Open a New Account”

  3. Upload valid ID and complete selfie verification

  4. Input contact information and source of funds

  5. Wait for confirmation (usually within 24 hours)

  6. Activate your account digitally

✅ Pros and Cons of BPI

✔️ Advantages:

  • ✅ One of the most stable and trusted private banks

  • ✅ Extensive branch and ATM network

  • ✅ User-friendly mobile app and online platform

  • ✅ Wide range of loans, cards, and investment tools

  • ✅ Strong integration with GCash, Maya, QR PH

  • ✅ Available credit cards for all income levels

  • ✅ Fast personal loan approvals for existing clients

❌ Disadvantages:

  • ❌ High maintaining balance on some accounts

  • ❌ Long branch queues during peak hours

  • ❌ Occasional mobile app downtimes during updates

  • ❌ Stricter requirements for loan applications compared to digital-only banks

🆚 BPI vs Other Banks in the Philippines

When compared to its competitors, BPI balances tradition and innovation.

BPI vs LANDBANK:
While LANDBANK focuses on rural and public sector services, BPI targets urban professionals and businesses. BPI is faster, more digital, and better for lifestyle banking. LANDBANK is better for government workers and agri-loans.

BPI vs CIMB:
CIMB offers fast personal loans without collateral and zero opening balance accounts. BPI, on the other hand, is better for users who want full-service banking with physical support.

BPI vs Tonik:
Tonik is ideal for quick savings and mobile-first users. BPI offers a more complete suite of services — from housing loans to investment products.

BPI vs Maya Bank:
While Maya has an ultra-modern app and e-wallet feel, BPI still outperforms it in lending options and trust for high-value transactions.

In short, BPI is the best private bank if you’re looking for a balance of digital convenience, branch access, and financial products under one roof.

❓ Frequently Asked Questions (FAQ)

1. Can I open a BPI account without going to a branch?

Yes. Most savings accounts can be opened online using just your smartphone and a valid ID.

2. What is the maintaining balance for BPI accounts?

It varies from ₱1,000 to ₱25,000 depending on the account. Some digital-only accounts have no maintaining balance.

3. How fast is BPI loan approval?

Personal loan approval can take 3–5 working days. Faster for existing account holders with stable credit history.

4. Does BPI work with GCash and Maya?

Yes. You can link your BPI account to GCash and Maya for seamless fund transfers.

5. What credit cards does BPI offer?

They offer a full range from entry-level to premium cards with cashback, rewards, and travel perks.

6. Is BPI safe and legit?

Absolutely. BPI is BSP-regulated, has over ₱2 trillion in assets, and is publicly listed.