August 15, 2023


Drive the car of your dreams with low rates, fast approval and free 1 year car insurance. Buying a car has never been easier. Apply for a car loan that suits your lifestyle with flexible payment terms and fast approval. It also comes with FREE 1 year car insurance.

You can use it for the:

  • Purchase of a brand new or second hand car
  • Reimbursement of a brand new vehicle
  • Refinancing of a second hand car/loan take-out


Loan Amount

  • Brand new: up to 80% of purchase price
  • Second hand: up to 70% of appraised value

Payment Terms

  • Brand New: 12 to 60 months
  • Second hand: 12 to 48 months

Down Payment: As low as 20% of purchase price

Approval Time: 1 banking day, from receipt of complete application form and requirements

Maximum Car Age: Up to 11 years old, for second hand, the age of vehicle + loan tenor should not exceed 11 years

Loanable amount: Minimum of P 400,000 for brand new and minimum of P 100,000 for used/second hand vehicle.

Acceptable vehicle collateral

  • Brand New vehicles: Sports Utility Vehicle (SUVs), Auto-Sedan / Passenger Car, Passenger Vans, Asian Utility Vehicles (AUVs).
  • For China manufactured units, they only accept Foton and Geely at minimum 30%DP based on selling price and maximum of 36 months.
  • For Used/Second Hand vehicles: They accept 3 months to 1 year old & < 3T kms and unit must be 12 years old upon loan maturity.

Eligibility Requirements

  1. Filipino citizens who are residents of the Philippines; or Foreign citizens residing in the Philippines, provided, accompanied with a positive endorsement from the company he is affiliated with & a qualified Filipino citizen guarantor or co-maker in place, or
  2. Filipino citizens, who are residing outside the borders of Philippines, provided with qualified Filipino citizen guarantor or co-maker in place.
  3. Age must be 21 years old but not more than 65 years upon final maturity of the loan.
  4. Minimum joint monthly gross income with spouse of Php 40,000 (brand new) or Php 20,000 (2nd hand/used car)
  5. Employed for at least 2 years or officer position on a permanent / regular basis.

Documentary Requirements

  • Application Forms: Auto Loan Application Individual and Sole Proprietor

  2. Duly accomplished and signed Auto Loan Application Form
  3. Valid Government-issued ID (with signature and photo) of borrower/spouse/co-borrower/co-maker/signatories of the loan
  4. Latest Proof of Billing under borrower’s name
  6. Latest Income Tax Return (ITR) / BIR Form 2316 (duly stamped by BIR), Or Pay Slips for at least 3 months
  7. Latest Certificate of Employment with Compensation
  9. Latest Crew Contract (for seafarer/seaman); Latest Employment Contract duly authenticated by Phil. Consulate (for OFWs)
  10. Proof of Remittance (allotment slips) for at least 3 months
  12. Latest Income Tax Return (ITR) / BIR Form 2316 (duly stamped by BIR)
  13. Latest Audited Financial Statements/Statement of Assets and Liabilities/Statement of Income and Expenses
  14. Certificate of Business Registration with DTI (sole proprietorship) or SEC (partnership/corporation)
  15. Bank Statements or photocopy of Passbook for the last 3 months
  16. Proof of Other Income (Certificate of Deposits, Stock/Bond Certificates, Lease Contracts, etc.)
  18. Copy of LTO OR/CR under the name of the seller/applicant

Deed of Sale

PNP Clearance and Macro Etching Certificate

Bill of lading and importation papers, including proof of payment on custom and duty taxes (for imported units only)

How to Apply

Scan or take pictures of your ID and proof of income. page.

Applyonlineor at your nearest branch.

Wait for processing and approval (as fast as 1 day!)

What are the loan payment options?

Standard Straight Financing Scheme

One Month Advance

First net monthly instalment shall commence at the time of delivery/release.

Second net monthly instalment shall commence not more than 35 days from date of delivery (for new) or from booking date (for 2nd hand).

Subsequent amortization due dates shall follow the date of the second amortization.

How do I make my payments?

You can subscribe to an Auto Debit Arrangement (ADA) from a Security Bank account or pay through post-dated checks.

What are the fees and charges that I have to pay?

Chattel Mortgage Fee (CMF)Inclusive of documentary stamp tax, processing fee and notarial fee
Collection Fee3% of unpaid net monthly amortization
Late Payment Interest3% of unpaid net monthly installment

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