Auto loan customers can get usable incentives in BPI Flex-Rewards promo

MANILA: The Bank of the Philippine Islands (BPI) recently launched its Flex-Rewards promo, through which BPI Auto Loan customers can avail of points to use as payment to fees related to their loan or for other BPI products.

Customers' reward points can pay for chattel mortgage fees, insurance premiums, deposit fund credits, AMTC/BIMI placements, amortization payments, and credit card rebates.

Through the Flex-Rewards promo, BPI Auto Loan customers are given 10,000 reward points for every P500,000 loan amount, which is the minimum amount for the promo. 

For loan amounts that range from P2.5-million and above, a 50,000 reward point cap applies, BPI clarified. 

During the virtual launch for the promo, BPI Retail Loans Head Dennis Fronda explained that the promo applies to brand-new vehicles for now, when asked if second-hand car buyers can get the promo. 

He added that with the promo, the bank is eyeing a "20% boost" auto loan applications compared to last year, when asked about the projected turnout of the promo. 

Application period for the Flex-Rewards promo runs now until  May 16, 2022. Customers can apply for the promo at BPI's website or its branches. 

Loan applicants must have a minimum down payment of 20% and the loan must be “booked” (the full loan amount released to client or seller) on or before June 16, 2022, BPI said. 

Aside from BPI Auto Loan, BPI Housing Loan also offers the promo. 

Photos from Bank of the Philippines Islands (BPI), Maxus Philippines 

Also read: Maxus vehicles available with zero cash out this Mar.