MOTOR-VEHICLE LOAN

Loan terms and conditions

Purpose of Loan

  • Financing of motor-vehicles intended for personal of for business use.
  • Qualified for both second-hand and brand new units.
  • Covers trucks, cars, and assembled XLT’s and Jitneys.

Loan Processing Requirements

  • Application Forms duly filled-out and signed by the applicant/s
  • 2 x 2 ID Picture
  • 2 Valid IDs
  • Community Tax Certificate
  • Mayor’s or Business Permit (if applicable)
  • Bank Statement/ Passbook for the past three (3) months
  • Certificate of Employment (if applicable)
  • Photocopy of OR&CR of collateral unit
  • Stencils of motor and chassis number
  • Proof of ownership of other properties
  • Quotation from dealer (for reconditioned trucks and cars)

Eligibility Criteria

  • A Filipino citizen or any juridical person recognized and licensed in the Philippines, i.e. Cooperatives
  • 18-60 years of age depending on health condition of the applicant
  • Within the present serving area
  • Not engaged in illegal activities
  • No records filed against in Philippines courts
  • Must have a good credit record with banks and other lending institutions
  • With stable source of income
  • Must not be an accommodation
  • Must not been turned down by another branch