Unionbank Auto Loan

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Thinking of buying your first car? UnionBank Auto Loan will help you find the right vehicle that will suit your need whether you're looking for Brand New Or Pre-Owned Cars, they will take care of it. Fast and easy auto loan processing with Flexible Payment Terms. Guaranteed low rates.

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Product Overview

Product Name: Unionbank Auto Loan
Remarks: Unionbank Auto Loan
Minimum Amount of Loan: PHP200,000.00
Maximum Amount of Loan: PHP5,000,000.00
Minimum Loan Tenure: 1 years
Maximum Loan Tenure: 5 years
Early Repayment:
Vehicle Insurance Included NO
Accepts Third Party Vehicle Insurance: NO
Accepts Third Party Credit Insurance: NO
Does Not Require Credit Insurance: NO
Payment Options:
Application Approval Time: Minimum Processing of 1 day

Interest Rates Offered

Interest for Fixed Period Interest Rate Per Year: Effective Interest Rate Fixed Period:
Interest for 1 Year 11.90%
Interest for 1 1/2 Years 11.31%
Interest for 2 Years 10.50%
Interest for 3 Years 10.39%
Interest for 4 Years 10.63%
Interest for 5 Years 10.93%

Vehicle Types and Loan Purpose

Eligible Vehicle Types: Sedan
Sports Utility vehicle
Vehicle Loan Proceeds Can Be Used For: Purchase of Brand New Car
Purchase of second Hand Car
Refinancing

Eligibility and Requirements

Age Range of Borrower: 21-65 years
Minimum Annual Income: PHP600,000.00
Employment Work Status Employed-Private Sector for 1 year
Employed-Government for 1 year
Self Employed for 2 years
Professional for 2 years
Employed-BPO for 1 year
Employed-OFW/Seafarer for 1 year
Applicant Must Have A Landline Phone at Home or Office: NO
Need to Open Linked Bank Account: NO
Guarantor Requirements:
Collateral Requirements:

FAQ

What are the general eligibility requirements for Unionbank car loan?

  • Applicant must be a Filipino citizen between 21 to 65 years old, with a total monthly income of PHP 40,000.00. Foreign nationals must be married to a Filipina to apply for a loan. Business entities like corporations and partnerships may also apply. Client must be 65 years old upon loan maturity.

What are the required documents for Unionbank auto loan application?

Employed:

  • COE - Certificate of employment with compensation
  • ITR – Latest
  • CFUSCA - Completely filled up application form

Self-Employed:

  • Business Registration papers (DTI, SEC if applicable)
  • Income Tax Return with audited financial statements (2 years)
  • Trade references
  • Completely filled up application form

How much can I borrow at Unionbank?

  • UnionBank offers a minimum loan amount of PHP 200,000.00

What is the minimum salary required for Unionbank car loan?

  • Applicant must have a total monthly income of PHP 40,000.00.