SB Finance Car4Cash Loan

Make money out of your car without selling it or giving it up. Fast application online and 3-7 days processing time. Minimum requirements and fixed monthly terms. Car owners, apply now and see how much you can get.

SB Finance Car4Cash Loan

SB Finance Car4Cash Loan is a perfect personal loan for individuals or business people who own car/s. While other loans require setting up your vehicle as collateral, Car4Cash just uses your car’s ORCR so you don’t need to give up your vehicle when applying and processing for a loan. Which means you can still use your car for personal or business use. Car4Cash loan caters to employees in the private & government sector and self-employed individuals. With just a PHP15,000 income (for employees) or PHP100,000 (self-employed or business owners), you can get a quick cash loan starting at PHP100,000 up to PHP2-M. Payment terms are flexible at 12, 18, 24, or 36 months. Interest rate is at 1.25% to 2%, depending on the age of the car and the loan term.

Overview

Product Name:
SB Finance Car4Cash Loan
Remarks:
Get the cash you need with your car
Minimum Amount of Loan:
PHP100,000.00
Maximum Amount of Loan:
PHP2,000,000.00
Minimum Loan Tenure:
12 months
Maximum Loan Tenure:
36 months
Early Repayment:
N/A
Payment Options:
Post Dated Check

Eligibility and Requirements

Age Range of Borrower:
21-65 years old
Minimum Annual Income:
PHP144,000.00
Income Requirement Remarks:
PHP 12,000.00
Employment / Work Status:
Permanent Employee for 1 year / 2 years Business Operations for Self-employed / 1 year of Practice for Professionals / Government Employee for 1 year
Borrower has to have Credit Card:
No
Guarantor Required:
No
Collateral Required:
ORCR of car 0-10 years old, unencumbered and under the borrower’s name
Other Requirements:
Duly filled-out and signed application form, Photocopy of ORCR, Screenshot from Google maps of home and company address, Photocopy of 1 valid government-issued, photo-bearing ID
Need to Open Linked Bank Account:
No

Application and Approval

Application Channel:
SB Finance
Approval Duration:
3-7 banking days
Approval Duration Remarks:
3-7 days processing time

Fees and Charges/Penalties

Loan Processing and Dispersal Fees:
3% of approved loan amount. No disbursement fee.
Early Repayment Penalty:
N/A
Late Payment Penalty:
3% of the amount due or P500 whichever is higher

Interest Rates Offered

Product Name: Interest Rate Effective Interest Rate Interest Type
SB Finance Car4Cash - 12 Months 1.25% -1.50% Monthly Rate
SB Finance Car4Cash - 18 Months 1.25% -1.50% Monthly Rate
SB Finance Car4Cash - 24 Months 1.50% -1.75% Monthly Rate
SB Finance Car4Cash - 36 Months 1.75% -2.00% Monthly Rate

FAQs

What are the required documents to apply for an SB Finance Car4Cash Loan?

Employed

  • Duly filled-out and signed loan application form
  • Photocopy of OR/CR (must be under the borrower’s name, unencumbered and owned for at least 6 months)
  • Screenshot from Google maps of home and company address
  • Photocopy of one (1) valid government-issued photo-bearing ID
  • Income Documents, any of the following:
  • Certificate of Employment and Compensation issued within the last two (2) months
  • Latest ITR / BIR Form No. 2316
  • Latest one (1) month payslip

Self-Employed

  • Duly filled-out and signed loan application form
  • Photocopy of OR/CR (must be under the borrower’s name, unencumbered and owned for at least 6 months)
  • Screenshot from Google maps of home and company address
  • Photocopy of one (1) valid government-issued photo-bearing ID
  • Latest 1-year Audited Financial Statement (AFS) with at least the previous year’s comparative financials
  • SEC Registration / DTI Certificate
  • Business Permit / Mayor’s Permit
  • Latest three (3) months bank statements
  • Latest GIS (if corporation)
  • List of 3 trade references (at least 1 supplier and 1 customer) with contact details

What are the modes of payment

  • You can pay your monthly amortizations through post-dated checks (PDCs).

What are the eligibility requirements for an SB Finance Car4Cash Loan?

  • Applicant must be between 21 – 65 years of age, 1 year in service or practice for professionals, private and government employees (not contractual and commission-based). Applicants employed by BPOs need to have 3 years of service. Self-employed applicants need to be at least 2 years in operation. Net monthly income requirement is only PHP12,000 for employees outside Metro Manila and PHP15,000 for employees within Metro Manila , PHP40,000 for BPO/PHP75,000 for call centers, and PHP100,000 for self-employed.

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