| Product Features |
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| 1. |
Qualified Applicants |
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a. |
Individual |
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Filipino, of legal age but not more than 65 years old upon maturity of the loan. |
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Foreign nationals married to Filipinos |
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b. |
Corporation / Partnership |
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| 2. |
Purpose |
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Unit is for personal/business use of applicant. Not an accommodation. |
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| 3. |
Collateral |
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a. |
Locally distributed brand new Cars, AUV, Van, Pick Up, SUV and Trucks. |
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b. |
Second Hand units *(not more than 5 years old ). |
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c. |
Brand new imported vehicles*. |
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* subject to appraisal and car history |
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| 4. |
Loan Amount |
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Minimum of P200K. |
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| 5. |
Downpayment |
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Brand New - Minimum of 20% |
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Second Hand - depends on year model (subject to set limits) |
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| 6. |
Loan Term |
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Brand New - 12 to 72 months |
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Second Hand - 12 to 60 months (subject to set limits) |
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| 7. |
Interest rates |
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Refer to published add-on rates or call your Account Officer. |
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| 8. |
Processing period |
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Credit results within 24 hours. |
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| 9. |
Payment option |
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a. |
Online Debit Arrangement |
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b. |
Check-Free Payment (through Express Phone, Express Teller, Express Bills Payment, Express Online) |
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c. |
Over the Counter |
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| 10. |
Installment payment option for Comprehensive Insurance Premium |
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Insurance premium payable in 12 monthly installment via automatic debit from a deposit account |
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Automatic renewal of insurance policy every year. |
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No initial cash out for insurance |
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Certificate of cover not included |
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| 11. |
Car history |
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A process of tracing the sequence of ownership or the transfer thereof from time the unit was bought to its present owner. |
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| 12. |
Appraisal |
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A process by which the fair market value is determined through physical inspection of the unit. |
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An appraisal fee is charged and the client must bring the car and photocopies of the vehicle's LTO OR and Certificate of Registration (CR). |
