Pay lower upfront cost as you own your dream car, with zero cash-out required to cover your car's insurance premium.
Stretch the cost of insurance by paying the premium in affordable monthly payments together with your loan amortization.
Get full insurance coverage throughout the life of the loan. Plus, avoid the tedious and manual process of renewing your insurance or missing your insurance payment due every year.
As you get behind the steering wheel, put your mind at ease because your brand new car is protected 24/7 from huge car repair expenses resulting from road mishaps.
Instead of having to cash out on your car insurance and paying the premium in annual lump sum payments, Multiyear Protect allows you to stretch the cost of the motor insurance by paying the premiums in affordable monthly payments together with your loan amortization.
Monthly Amortization
Auto Loan + Insurance Premium
Sample Computation (Standard Auto Loan vs. Multiyear Protect)
Car SRP: Php 1,250,000
Downpayment: 20%
Loan Term: 60 months
Rate: 10.93%
| Standard Auto Loan | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
| *Monthly Amortization | Php 21,800 | Php 21,800 | Php 21,800 | Php 21,800 | Php 21,800 |
| **Annual Insurance | Php 26,000 | Php 24,000 | Php 21,000 | Php 19,000 | Php 17,000 |
*Fixed monthly amortization for 5 years without the cost of car insurance yet.
**Cost of car insurance premium to be paid in lump sum payments annually.
| Multiyear Protect | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
| *Monthly Amortization | Php 24,100 | Php 24,100 | Php 24,100 | Php 24,100 | Php 24,100 |
| **Annual Insurance | - | - | - | - | - |
*Fixed monthly amortization for 5 years wich covers both auto loan and the insurance premium.
**Zero cost for annual insurance premium as your monthly amortization already covers the cost for it.
Terms and Conditions
1. Multi Year Protect is available to individual applicants who want to avail a brand new passenger car.
2. The minimum loan term is 36 months while the maximum loan term is 60 months.
3. The minimum down payment is 20% with a minimum loan amount of Php 500,000.
4. The client must have a minimum monthly income of Php 40,000 to avail the Multi Year Protect.
How to Apply
Branch
1. Go to any BPI branch.
2. Completely fill out the application form.
3. Submit the requirements. Your application will be reviewed and processed.
4. If your application is approved, you will receive an SMS notification and will be asked to visit the branch or a Loans Business Center.
5. Sign the loan documents.
Online
1. Completely fill out our Auto Loan online application form.
2. Submit the requirements. Your application will be reviewed and processed.
3. If your application is approved, you will receive an SMS notification and will be asked to visit the branch or a Loans Business Center.
4. Sign the loan documents.
Regular Auto Loan vs. Multi Year Protect
| Specifics | Regular Auto Loan | Multi Year Protect |
| Amount of monthly Payment/ Amortization | Fixed equal monthly payments for the duration of the loan term. No annual price increase | Auto Loan and insurance premium are paid together in fixed equal monthly payments for the duration of the loan term |
| Product Benefit | Budget your monthly expenses ahead of time and set aside the same fixed amount from start to end of your loan term | Stretch the cost of insurance by paying the premium in affordable monthly payments instead of annual lump sum |
| Type of Vehicle to Purchase | Brand New or Pre-Owned Passenger Vehicle Can be used to purchase Big Bikes or Trucks | Brand New Passenger Vehicle |
| Term of Duration of Loan | Can opt for short or long term such as 1,2,3,4 or 5 years | Can opt for 3,4, or 5 years loan term |
| Motor Insurance | Outright Payment before loan availment. Insurance premium for succeeding years are paid in lump sum every year | Full insurance coverage throughout the loan term without yearly lump sum payments |
| Initial Cash Out | Standard cash-out for Insurance Premium and Chattel Mortgage | Zero cash out on insurance |
| Price | Same as published interest rate | |
BPI
For inquiries and comments, send us a message or call our 24-hour BPI Contact Center at (+632) 889-10000.
Step Up Payment Solution
A new product option for our Auto Loan that allows you to plan and control how much you will pay for your loan every year.
learn moreZero Cash Out
This payment solution allows you to drive your own car without the need to cash-out a single centavo and use your deposit savings as a Holdout to serve as the down payment.
learn moreFor inquiries and comments, send us a message or call our 24-hour BPI Contact Center at (+632) 889-10000.
BPI is a proud member of 