Rate Changes 2024

Making education accessible continues to be Bukas’ mission. We aim to provide flexible tuition payment options for college and graduate students across the country.

We value transparency, which is why inform you of any rate changes as soon as possible to give you ample time for necessary adjustments. Unfortunately, we are not immune to our country's economic situation hence the updated rates. Rest assured that each application is thoroughly reviewed by our Assessment Team. A borrower’s submitted information, documents, and payment behavior are all taken into consideration to give the best possible price.

Frequently Asked Questions (FAQs)

1. What are the changes in the Bukas tuition installment plan’s rates?
   Bukas Flex is your trusted Bukas tuition installment plans… only better. In line with the recent systems update, our tuition plans are improved to better suit the needs of our student borrowers. Through greater flexibility in pricing, including loan tenor, Bukas continues to provide the best possible tuition plans for more students to finance their studies for their future.
   
2. How will this affect my active tuition installment plans?
   For active loans, there will be no changes in your monthly repayment for your existing activated installment plans. For ongoing loan applications, please note that your approved interest rate may be different from what you applied for.
   
3. Why are the interest rates given to me different from the one on your website?
   Please note that our website calculator displays the standard interest rate and origination fee computation. To see the updated rates specific to your school, log in or create an account at app.bukas.ph.
   
   For reference, the Standard Tuition Installment Plan ranges from 1.90% to 4.90% interest rate per month, with a one-time service fee that ranges from 4.50% to 10%. Interest rates may also vary per school.
   
4. I am a repeat borrower. Why is the interest of my new loan different from my existing loans?
   Each application is thoroughly reviewed by our Assessment Team which is why applications, despite coming from the same borrower, may have different results. Because the submitted information, documents, and payment behavior are all taken into consideration, your final interest rates may differ from your previous installment plan.
   
5. Will Bukas Flex still be payable in 12 months?
   Yes. Bukas installment plans are still payable for up to 12 months. If you wish to close your Bukas installment plan in less than your chosen tenor/ installment length, please refer to item no. 6.
   
6. With the rate changes, will I still be able to pre-terminate my plan?
   Yes, you can still request for a pre-termination of your chosen plan. To request for pre-termination and a re-calculation of the interest of your plan, please send an email to [email protected]. To learn more about pre-termination, please visit this link.
   Pre-termination is the process of settling all your balances with Bukas in less than your chosen tenor / installment length. This also means closing your Bukas installment plan before the last due date. Note that pre-termination is free and you also have the chance to be eligible for interest rebates. The interest rebates will be based on the rates indicated in your contract.
   
7. I still have questions about the rate changes. Who can I contact?
   For questions about the rate changes, please send an email to [email protected] with the subject “Rate Change” for faster response.