BPI will offer auto and home loans at an in-branch event

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

BPI’s Best Deals Fest will run June 20-24 at all of its branches nationwide. The bank aims to provide 20% more auto and home loan bookings through the event.

“Consumer confidence is back. Car and home purchases are in demand again as Filipinos forge ahead and continue to pursue their aspirations,” Dennis T. Fronda, head of BPI’s retail lending group, said in a statement on Wednesday. “The Best Deals Fest is the perfect opportunity for aspiring car and home owners to secure their dream home and car, as BPI and our partners have exclusive deals for them.”

“This activity will demonstrate the relevance of a physical branch as a one-stop-shop for their financial needs. In this case, their home and auto loans,” Fronda said. “While it is convenient to use digital platforms for routine financial transactions, large purchases like a house or car will be more convenient for customers if they are assisted at a branch.”

In 2021, BPI’s car loan portfolio saw its reservations increase by 37% over one year, while its housing loan portfolio also increased by 10%.

Through the promotion of exclusive offers from partners of the bank only available during the event, customers can obtain deep cash rebates, low interest rates and waived fees on vehicles and properties of automotive brands and participating property developers.

Customers can also take advantage of the bank’s Flex-Rewards promotion, where they can get up to P50,000 in rewards for every P500,000 in car loans and for every million P in home loans.

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

BPI’s net profit rose 59.6% year-on-year to 8 billion pesos in the first quarter, boosted by higher interest income and lower loan loss provisions as asset quality was improving. — TJT

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