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| Product features
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| What is the Property Equity Credit Line?
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| The Property Equity Credit Line is a secured, check-driven, all-purpose credit facility providing instant cash for business, short-term investments, personal consumption or just about anything else.
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| Pre-qualification requirements:
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| You must be between 21 to 65 years of age
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| With verifiable sources of income
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| Latest Income Tax Return and/or Audited Financial Statements
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| Acceptable collaterals:
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| Highly marketable real estate properties
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| Traded club shares
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| Actively traded PSE-listed shares of stock of prime Philippine companies
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| Deposits with any branch of BPI, BPI Family Savings Bank and/or BPI Direct Savings Bank
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| Investment Funds/Placements with BPI Asset Management and Trust Group (AMTG)
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| Government Securities
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| Minimum and maximum Property Equity Credit Line amount:
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| Minimum credit line amount
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| P500 thousand, if secured by deposits
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| 1 million, if secured by real estate and/or a combination of acceptable collaterals.
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| Maximum credit line amount - P10 million
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| Property Equity Credit Line interest rate:
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| Guaranteed competitive low interest rate for this type of credit facility
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| Pay interest only for the number of days you actually use your facility. Issue a Property Equity Credit Line check today and pay after 10 days. You pay only the interest for the 10 days that your availment is outstanding.
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| Interest is variable and is set at the beginning of each calendar quarter for easy monitoring.
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| Interest is payable monthly via automatic debit from your designated BPI, BPI Family Savings Bank or BPI Direct Savings Bank deposit account.
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| Payment of availments
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| Monthly payments for availments not required. You may pay any availment anytime, fully or partially, as your cash flow permits.
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| If the renewable one-year life of your Property Equity Credit Line is about to expire and only the monthly interests have been paid so far, you will be required to pay a percentage of your outstanding principal balance. This requirement will be discussed with you by your designated Account Officer.
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| Other things you need to know about Property Equity Credit Line:
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| Once your facility has been approved and documented, you -
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| Will be issued a Property Equity Credit Line checkbook with 50 checks. You simply write a check to avail of your facility for as long as you stay within your credit limit.
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| You have to designate a Deposit Settlement Account where your monthly interest and other charges shall be debited from.
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| Each day, interest on your outstanding principal balance accrues. If you intend to pay the outstanding principal balance, the system applies your payment in this order of priority: to penalty charges first, then to fees, and then to accrued interest. The balance is finally applied to availment
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| Minimum availment per check is P50,000 while the maximum is your available credit line balance. Service charges will apply to check issuance below the minimum availment amount.
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| A monthly statement of account is sent to you for balance tracking.
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| We charge appraisal fees for real estate mortgages, an annual fee and a processing fee to cover administrative costs.
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| How do I apply for a Property Equity Credit Line?
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| Just accomplish the Information Sheet at the back hereof and submit to your nearest BPI, BPI Family Savings Bank branch, any Express Banking Center or directly to the 6th floor, Property Equity Credit Line Dept., BPI Family Savings Bank Head Office, Paseo de Roxas cor. De la Rosa, Makati City.
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| Where can I send my queries to
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| Queries can be sent to: apabad@bpi.com.ph
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