Auto loan · Security Bank
Security Bank Auto Loan
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When talking of vehicle loans in the Philippines, Security Bank Auto Loan offers one of the most well-equipped and flexible options. With comfortable repayment tenure, low down payment and low interest rates, Security Bank can definitely help you find the right car for you. Apply for Security Bank Car Loan and we will guide you every step of the way.
Overview
| Loan amount | ₱400,000 to ₱5,000,000 |
|---|---|
| Loan term | 1 years to 5 years |
| Interest | 7.27% to 9.59% a year |
| Loan-to-value | up to 80% |
| Age | 21 to 65 years old |
| Approval time | 1 days (Approval as fast as 1 day when you submit your complete documentations) |
| Late payment | 3% of unpaid net monthly installment |
| Late Payment Fee | 3% |
Vehicle types
- Sedan
- AUV
- SUV
- Passenger Van
Loan purposes
- Purchase of Brand New Car
- Refinancing
- Reimbursement of Purchased Car
If you are in search for car loan financing other than Security Bank, eCompareMo can help you with it. Call or chat us now and we will guide you every step of the way!
Frequently asked questions
What are the general requirements for Security Bank car loan?
- Applicant must be a Filipino citizen who resides in the Philippines;
- Or Foreign citizen residing in the Philippines, provided, accompanied with a positive endorsement from the company he is affiliated with and a qualified Filipino citizen guarantor or co-maker in place; or
- Filipino citizens who are residing outside the borders of Philippines, provided with qualified Filipino citizen guarantor or co-maker in place.
- Must be 21 years old but not more than 65 years upon final maturity of the loan.
- Minimum joint monthly gross income with spouse of PHP 40,000.00 (brand new) or PHP 20,000 (second hand/used car)
- Employed for at least 2 years or officer position on a permanent/ regular basis.
What are the required documents for Security Bank auto loan application?
- Duly accomplished and signed Auto Loan Application Form
- Valid Government-issued ID (with signature and photo) of borrower/spouse/co-borrower/co-maker/signatories of the loan
- Latest Proof of Billing under borrower's name
LOCALLY EMPLOYED:
- Latest Income Tax Return (ITR) / BIR Form 2316 (duly stamped by BIR), Or Pay Slips for at least 3 months
- Latest Certificate of Employment with Compensation
EMPLOYED ABROAD (OFW):
- Latest Crew Contract (for seafarer/seaman); Latest Employment Contract duly authenticated by Phil. Consulate (for OFWs)
- Proof of Remittance (allotment slips) for at least 3 months
SELF-EMPLOYED:
- Latest Income Tax Return (ITR) or BIR Form 1701 (duly stamped by BIR)
- Latest Audited Financial Statements/Statement of Assets and Liabilities/Statement of Income and Expenses
- Certificate of Business Registration with DTI (sole proprietorship) or SEC (partnership/corporation)
- Bank Statements or photocopy of Passbook for the last 3 months
- Proof of Other Income (Certificate of Deposits, Stock/Bond Certificates, Lease Contracts, etc.),
ADDITIONAL REQUIREMENTS IF COLLATERAL IS USED/SECOND HAND/IMPORTED VEHICLE:
- 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 much can I borrow from Security Bank?
- You can apply for a Security Bank Auto Loan for up to 80% of the vehicle’s purchase price.
What is the minimum salary required to apply for Security Bank car loan?
- Applicant must have a minimum joint monthly gross income with spouse of PHP 40,000.00 (brand new) or Php 20,000 for second hand/used car)