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CIMB vs BPI vs UnionBank: Which Personal Loan Costs Less?
CIMB starts at 18% annually, while BPI reaches ₱3 million and UnionBank runs fully digital. Compare fees, terms and eligibility.
You're choosing between CIMB, BPI and UnionBank. The headline rate matters, but the real question is how much the loan costs after fees, how long you can repay it and whether you qualify. CIMB has the lowest advertised starting rate at 18% annually; BPI combines that kind of pricing with a ₱3 million ceiling; UnionBank keeps the application fully digital.
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Rates and terms shown are representative. Your actual rate depends on your credit profile and circumstances. This is not financial advice — always read the lender's terms before applying.
The low-rate contest
CIMB leads on the advertised starting figure, but that number is not a promise. BPI and UnionBank publish rates that can still be attractive, while their fees and term limits change the final cost. Compare the annual rate, monthly add-on rate, processing charges and total repayment before signing.
CIMB Personal Loan
CIMB has the strongest headline pricing here: from 0.83% monthly add-on, or 18% annually, with rates reaching 36% after risk assessment. The ₱15,000 minimum monthly income is lower than BPI's likely bank-client profile, and disbursement has no fee when the loan goes to a CIMB account. The detail many borrowers miss is the 3% early-settlement fee, which can erase the benefit of paying ahead. The official CIMB page is the place to verify the current rate and account requirement.
CIMB Personal Loan
CIMB wins the rate comparison only if you receive a low-risk offer and do not settle early. A borrower who needs a predictable bank process may prefer BPI, even with its ₱1,500 fee. That is the first important distinction: the lowest starting rate is not automatically the lowest cost for every borrower.
PSBank Flexi Personal Loan
BPI is the stronger middle ground for an existing customer who wants a large unsecured loan without stretching repayment beyond 36 months. Its advertised add-on rate starts at 1.20% monthly, with annual contractual rates listed at 25.03% to 28.67%, and the ceiling reaches ₱3 million. The ₱1,500 processing fee and documentary stamp tax on loans above ₱250,000 reduce the appeal for smaller borrowing. Existing BPI credit card holders may get a faster route, according to the bank's official loan page.
PSBank Flexi Personal Loan
BPI costs more than CIMB at the starting line, but its ₱3 million ceiling matches the largest offers in this comparison. It also avoids CIMB's requirement for fee-free disbursement into a CIMB account. If you need a modest amount and qualify for CIMB's lowest tier, CIMB is the sharper price play; if you need a larger amount from a major universal bank, BPI is easier to justify.
UnionBank Personal Loan
UnionBank sits between the other two on published pricing: a 1.26% monthly add-on rate and an annual contractual rate of about 26.9% for a ₱200,000 example, while the effective rate including fees reaches 31.98%. The application is fully digital through UnionBank Online, and terms can run to 60 months. That longer schedule lowers the monthly bill but can increase the total paid over time. Its limited branch network matters if you want face-to-face help, unlike BPI's broader physical presence.
UnionBank Personal Loan
UnionBank is the practical pick for a borrower who values a mobile application and needs up to five years to manage repayments. It does not beat CIMB's starting rate or BPI's ₱3 million ceiling, but its digital process and longer term may matter more than a small rate gap. Check the official UnionBank personal loan page for the current offer and eligibility rules.
For rate details, fees and account conditions, compare the CIMB personal loan page with the BPI personal loan page. Advertised figures are not the same as a personalised quote.
Fees, eligibility and repayment pressure
The rate table below is useful, but it is not the whole bill. CIMB may charge 3% for early settlement. BPI lists a ₱1,500 processing fee and documentary stamp tax above ₱250,000. UnionBank's published effective rate reaches 31.98% once fees are included.
| Lender | Published pricing | Loan ceiling | Term detail | Fee issue |
|---|---|---|---|---|
| CIMB | 18% annually from 0.83% monthly add-on; up to 36% | Not provided in the supplied data | Not provided in the supplied data | 3% early settlement; fee-free disbursement requires a CIMB account |
| BPI | From 1.20% monthly add-on; 25.03%–28.67% ACR | Up to ₱3 million | 12–36 months | ₱1,500 processing fee and documentary stamp tax above ₱250,000 |
| UnionBank | 1.26% monthly add-on; about 26.9% ACR example | Up to ₱2 million | Up to 60 months | Effective rate including fees reaches 31.98% |
None of these listings should be treated as a guaranteed approval route, and the supplied data does not show a confirmed minimum income for every lender. Ask for the full disclosure statement before accepting: monthly instalment, total repayment, processing costs, taxes, insurance if any, and early-settlement rules.
The verdict
Pick CIMB if you have a strong credit profile, earn at least ₱15,000 monthly, can receive funds into a CIMB account and expect to keep the loan until maturity. Its 18% starting annual rate is the clear price leader, but the final offer can rise to 36% and early settlement costs 3%.
Pick BPI if you already bank there, need up to ₱3 million and want a major-bank relationship with a 12–36 month schedule. The ₱1,500 fee is easier to absorb on a larger loan than on a small one.
Pick UnionBank if a fully digital application and a term of up to 60 months matter more than getting the lowest advertised rate. The longer term can make the instalment fit your budget, but check the total repayment before choosing it.
My winner is CIMB on price, with BPI as the safer large-loan alternative and UnionBank as the digital flexibility pick. Compare before requesting any offer, and before signing, check the cost total in one minute: rate, fees, term and the exact amount paid back.
