BPI Bank still offline, what's going on?

**c_cube** · July 9th, 2020 10:47 PM

Originally Posted by jut703

May kalokohan na namang ginawa si BPI sakin. Namumuro na talaga sila.

Their home loan contract states that I can pay a lump-sum to reduce the principal amount at any time without a fee. I was planning to pay 1 full year worth of amortization as a lump sum to reduce the total interest I'll be paying. I was able to do so last year with no hidden charges.

Yet today, when I requested to make another lump-sum payment, they say that I'll have to pay loan processing fees (~50k) if I want to make a lump-sum payment. This essentially negates any interest savings I would've had.

Sobrang hostage - last loan ko na to sa BPI. Will move my money elsewhere since they're a bunch of crooks.

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A friend of mine works at BPI savings loan collections. I guess same sila ng BPI naman.

Forwarded your concern. Read reply below

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**jut703** · July 9th, 2020 10:49 PM

Originally Posted by c_cube

A friend of mine works at BPI savings loan collections. I guess same sila ng BPI naman.

Forwarded your concern. Read reply below

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Ah talaga? Eh ano to?

Yung "All Out Promo" na pinagsasabi nila 6.88% for 3 years eh yung sa BDO nga 5.5% for 5 years.

Basura na loan rate nila, basura pa terms nila.

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**c_cube** · July 9th, 2020 11:38 PM

Originally Posted by jut703

Ah talaga? Eh ano to?

Yung "All Out Promo" na pinagsasabi nila 6.88% for 3 years eh yung sa BDO nga 5.5% for 5 years.

Basura na loan rate nila, basura pa terms nila.

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As usual daw NO fees dapat talaga, kaya nga you we're able to pay in adv last yr without fees.

She's not that familiar sa "All Out Promo" but based on her understanding

Pero may laban ka daw dapat if sabi sa contract no fees if pay in adv.

At sa pagkakaalala niya pareparehas lang yun contract unless iba daw contract ng "A O P"

Makikichismis daw siya bukas sa CS to clarify.

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**jut703** · July 9th, 2020 11:41 PM

Originally Posted by c_cube

As usual daw NO fees dapat talaga, kaya nga you we're able to pay in adv last yr without fees.

She's not that familiar sa "All Out Promo" but based on her understanding

Pero may laban ka daw dapat if sabi sa contract no fees if pay in adv.

At sa pagkakaalala niya pareparehas lang yun contract unless iba daw contract ng "A O P"

Makikichismis daw siya bukas sa CS to clarify.

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Thanks bro. Already raised it to my RM too but the added input will be very much appreciated.

And nakalagay specifically na pre-payment = partial payment to principal which is what I'm planning to do.

Yung exact loan fee na ni-waive nila last year di ko kabisado but I recall it was around the 50k ballpark.

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**Walter** · July 10th, 2020 08:02 AM

Originally Posted by jut703

Yet today, when I requested to make another lump-sum payment, they say that I'll have to pay loan processing fees (~50k) if I want to make a lump-sum payment. This essentially negates any interest savings I would've had.

That is really f***** up ...

With what's going on, BPI should be happy that clients are willing to pay loans in advance ... and yet they still want to milk them for it ...

**EQAddict** · July 10th, 2020 08:52 AM

Yeah thats moronic and outright robbery. Especially during these times when many loan portfolios both big and small are shaky.

You'd think they would be encouraging prepayments!

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**dr. d** · July 10th, 2020 10:04 AM

Originally Posted by EQAddict

Yeah thats moronic and outright robbery. Especially during these times when many loan portfolios both big and small are shaky.

You'd think they would be encouraging prepayments!

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i'm no banker, but it seems to me that,
if the pre-payment results to diminished total income from that account, of course they'll discourage it!
or, they'll allow it, but with a "penalty" that covers for the diminished income from the account.

**uls** · July 10th, 2020 10:27 AM

Originally Posted by dr. d

i'm no banker, but it seems to me that,
if the pre-payment results to diminished total income from that account, of course they'll discourage it!
or, they'll allow it, but with a "penalty" that covers for the diminished income from the account.

yep ganun na nga

**papi smith** · July 10th, 2020 10:52 AM

I think nakalusot lang ung pre payment nung una, like what the email says, AOP pala ito, so they factored in the loan fees, so if one pre pays, negated ung "freebies" nila.

**jut703** · July 10th, 2020 01:06 PM

Originally Posted by papi smith

I think nakalusot lang ung pre payment nung una, like what the email says, AOP pala ito, so they factored in the loan fees, so if one pre pays, negated ung "freebies" nila.

As if naman napakaganda ng promo nila LOL. 6.8% "promo" vs 5.5% sa BDO.

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