Special Installment Plan at partner schools

1. The program is open to BPI Cardholders of participating BPI Cards in good standing. The participating BPI Cards are as follows:

BPI Credit Cards

• BPI Amore Cashback Card
• BPI Amore Platinum Cashback Card
• BPI Blue Mastercard / BPI Rewards Card
• BPI Corporate Mastercard / BPI Corporate Card
• BPI eCredit Mastercard / BPI eCredit Card
• BPI Edge Mastercard / BPI Edge Card
• BPI Gold Mastercard / BPI Gold Rewards Card
• Petron-BPI Mastercard / Petron BPI Card
• BPI Visa Signature Card/ BPI Signature Card

2. BPI Cardholders are entitled to avail of the Special Installment Plans:

• Real 0% installment program. This allows cardholders to avail up to 12 months Real 0% installment at partner merchants.
• S.I.P. monthly add-on program. This allows cardholders to avail of installment at low monthly add-on interest term.
  

Sample computation (using factor rate for 3-month term)

Purchase amount x factor rate:
Php100,000.00 x 0. 340833 = Php 34,083.30
Total installment:
Php 34,083.30 x 3 months = Php 102,249.90

3. The cardholder shall review and agree to be bound by the terms and conditions of the Special Installment Plan (S.I.P.):

Terms and conditions

a. The S.I.P. Real 0% installment and S.I.P. monthly add-on interest terms are available for a minimum single-receipt purchase requirement of Php 3,000 or higher depending on the merchant.

b. The terms and spend requirement may vary per merchant and may be available for select items/services only.

c. All installment transactions are subject to BPI’s approval.

d. Cardholder can also choose to avail of other S.I.P. feature:

Up to 100% Bonus Madness Limit for qualified BPI Credit Cardholders

Qualified Credit Cardholders with good credit standing will enjoy increased purchasing power with a bonus installment credit limit of up to 100% of their regular credit line. Approved installment transaction will automatically be deducted from the Madness limit. 100% Bonus Madness Limit is only applicable to installment transactions.

e. The monthly payment shall first be applied to the interest charges then to principal amount using the diminishing balance method:

• BPI will charge an early termination fee of Php 550 plus 20% on the principal amount should the cardholder decide to terminate the S.I.P. transaction prior to the first billing.
• BPI will charge an early termination fee of Php 550 for S.I.P. transactions terminated after first billing.

4. To qualify for the program, the cardholder must use his or her participating BPI Credit Card to pay for his or her purchases at the participating merchant.

5. Any dispute concerning the products and/or services related to the program shall be settled directly between the cardholder and merchant.

6. The terms and conditions governing the issuance of BPI Credit Cards, reminders and other provisions contained in card carrier, statement of account, charge slips and other documents or instruments, which are made an integral part hereof by reference, shall likewise be resorted to in instances where they are applicable in this program campaign.

Pay in Real 0% installment at any of the accredited partner schools:

• Adamson University
• LTT Smartchart
• John Robert Powers
  

You may also opt to pay for your installment purchase at low monthly add-on rates in the event that Real 0% installment term is not being offered by the partner merchants. Interest rates per merchant may vary per industry.

How to compute
Price x factor rate = monthly amortization
Monthly amortization x no. of installment months = price of total installment with interest