Auto Loans

A car financing facility extended to qualified clients for the acquisition of brand new or second hand cars.

Product Features

Loan Amount maximum of Php 100,000 and maximum of Php 1,000,000.
Loan term minimum if 1 year and maximum of 5 years.
Repayment terms equal monthly amortization thru postdated checks.

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Benefits

  • The Bank shall finance 70% cost of the car.
  • Competitive interest rates.
  • Fast approval.

Eligibility requirements

  • Employed or self-employed individuals.
  • At least five (5) years residing in present address.
  • Monthly amortization should not exceed fifty percent (50%) of the borrower’s monthly net income.

Documentary requirements for Employed

  • Completely filled-out application form.
  • Certificate of Employment (indicating position, tenure and compensation).
  • Latest ITR.
  • Latest monthly payslip.
  • Latest Billing Statement indicating home address (water, electric, telephone or credit card, etc).
  • Last three (3) months Bank Statement.
  • Last three (3) months credit card statement, if a credit card holder.
  • Valid IDs.

Documentary requirements for Employed

  • Completely filled-out application form.
  • Latest ITR.
  • Latest Billing Statement indicating home address (water, electric, telephone or credit card, etc.).
  • Last three (3) months Bank Statement.
  • Last three (3) months credit card statement, if a credit card holder.
  • Business Name / Permit.
  • Valid IDs.

Additional requirements for OFW auto loan applicants

  • POEA Certification.
  • Approved employment contract.