BPI offers flexible rewards to car, home buyers

Ayala-led Bank of the Philippine Islands (BPI) is offering rewards of up to P50,000 to car and home buyers as part of efforts to boost economic activity to help the country recover from the pandemic-induced recession.

Dennis Fronda. head of retail loans group at BPI, said the listed bank aims

to be at the forefront of economic recovery by introducing financial products and services that help Filipinos fulfill their dreams.

The BPI Flex-Rewards promo offers up to P50,000 worth of flexible rewards to clients availing of a BPI Auto Loan or Housing Loan until May 16 this year.

“For this promo, we want to provide them with a more meaningful and rewarding way of owning their dream car or home today, in the most convenient and reliable way. We also aim to provide them opportunities to gain rewards which they can flexibly use across a wide range of product selections offered by the bank,” Fronda said.

Under the promo, auto loan and housing loan borrowers are entitled to a Flex-Rewards worth P10,000 for every P500,000 booked loan amount. Both have a cap of up to P50,000.

The booking period for auto loan is until June 16 this year, while the housing loan is valid until July 16.

To capitalize on the merger between BPI and BPI Family Savings Bank, these rewards can be exclusively availed through BPI products and loan-related fees.

Clients may use the rewards through mortgage or processing fees, BPI MS and BPI AIA insurance premium, BPI deposit fund credits, BPI AMTC or BIMI placements, loan amortization payment, and payment for BPI credit card bills.

“We remain committed to creating a more holistic banking experience for our clients, helping them turn their aspirations into reality with BPI’s reliable financial solutions,” Fronda added.

The 170-year-old bank is the country’s third largest private lender in terms of assets.

The bank’s loan book inched up by 4.9 percent to P1.48 trillion last year from P1.4 trillion in 2020 due to higher mortgage, credit card, and microfinance loans, while deposits posted a 13.9 percent increase to P1.96 trillion from P1.7 trillion.