RCBC MyWheels Auto Loan
RCBC Car Loan is easily available to customers living in the Philippines at low interest rates per annum and with flexible loan amounts. Applicants can enjoy the added advantage of owning their dream auto or refinancing their existing vehicles for cash with quick loan payments. Apply RCBC Auto Loan through eCompareMo and we will take care of your loan application.
RCBC MyWheels Auto Loan
Get The Cheapest Car Loan Rates With RCBC Auto Loan. Flixible Payment Term, Fast And Easy Application Online! Apply Now!
Overview
- Product Name:
- RCBC MyWheels Auto Loan
- Remarks:
- RCBC MyWheels Auto Loan
- Minimum Amount of Loan:
- PHP300,000.00
- Maximum Amount of Loan:
- PHP5,000,000.00
- Minimum Loan Tenure:
- 1 years
- Maximum Loan Tenure:
- 5 years
- Early Repayment:
- Vehicle Insurance Included
- Yes
- Accepts Third Party Vehicle Insurance:
- No
- Accepts Third Party Credit Insurance:
- No
- Does Not Require Credit Insurance:
- No
- Payment Options:
- Application Approval Time:
- Loan processing of 1-3 days upon submission of complete documentary requirements
Eligibility and Requirements
- Age Range of Borrower:
- 21-65 years
- Minimum Annual Income:
- PHP600,000.00
- Employment Work Status
- Employed - Private Sector for 2 years
Employed - Government for 2 years
Self - Employed for 3 years
Professional for 3 years
Employed - BPO for 2 years
Employed - OFW/Seafarer for 2 years
- Applicant Must Have A Landline Phone at Home or Office:
- No
- Need to Open Linked Bank Account:
- No
- Guarantor Requirements:
- Collateral Requirements:
Vehicle Types and Loan Purpose
- Eligible Vehicle Types:
- Sedan
Sports Utility vehicle
Van
- Vehicle Loan Proceeds Can Be Used For:
- Purchase of Brand New Car
Refinancing
Use Owned Vehicle as Collateral for Loan
Interest Rates Offered
Interest for | Fixed Period Interest Rate Per Year: | Effective Interest Rate Fixed Period: |
---|---|---|
Interest for 1 year | 10.72% | |
Interest for 1 /2 years | 10.60% | |
Interest for 2 years | 10.81% | |
Interest for 3 years | 10.73% | |
Interest for 4 years | 10.83% | |
Interest for 5 years | 11.02% |
FAQs
What are the general eligibility requirements for RCBC Car loan?
Salaried, self-employed individuals, and corporations may apply for an auto loan with the following eligibility requirements:
- Filipino Citizen/Alien with ACR
- Between 21-65 years old
- If married, with marital consent
- At least 2 years at present residence
- Permanently employed for 2 years
- Income 3x monthly amortization
What are the required documents for RCBC auto loan application?
Employed:
- Accomplished Application Form
- Copy of latest Income Tax Return (BIR Form 2316), Certificate of Employment & Compensation
- ID cards, BIR TIN, Utility Bill
Self-Employed:
- Accomplished Application Form
- Business Registration, Audited Financial Statements & ITR
Corporation:
- Accomplished Application Form
- SEC Registration, Articles of Incorporation, By-Laws
- Audited Financial Statements & ITR, latest GIS
What is the loan tenure for RCBC car loan?
- RCBC auto loan offers a maximum of 60 months loan tenure for Brand New Units, and maximum of 48 months loan tenure for Second Hand Units.
How much can I borrow at RCBC?
- RCBC auto loan offers a minimum amount of PHP 300,000.00.