Auto Loan

Overview

The Plantersbank Auto Loan is a credit facility intended for aspiring and existing car owners to support various car financing needs.

The Plantersbank Auto Loan can be used to:

1. Purchase a brand new or pre-owned car
2. Get a cash loan with an existing car as collateral

With Plantersbank Auto Loan, you get to enjoy the following benefits:

• Low minimum loan amount that starts at an affordable P100,000.00, depending on your car financing requirements.
• Minimal cash outlay with downpayment as low as 20% of the vehicle’s selling price or market value.
• Wider acceptability of car as old as 5 years
• Flexible installment payment terms up to maximum of 5 years
• Convenient repayment via PDCs or automatic debit against Plantersbank deposit account
• Affordable amortization with Plantersbank’s friendly interest rates

Plantersbank Auto Loan is available nationwide

So grab the chance now! Car or cash, you choose.

Requirements

Employed Individuals

• At least 23 years old but not more than 65 years old upon loan maturity
• Permanent employee for at least 1 year with the current employer or total continuous work experience of at least 2 years (if less than 1 year with current employer)
• At least gross monthly salary of Php 20,000.00 (single or combined)
• Preferably employed in the Top12K corporations, Known Companies or Plantesbank’s SME clients

Self-Employed Individuals (Businessmen/Entrepreneurs/Professionals)

• At least 23 years old but not more than 65 years old upon loan maturity.
• Business in existence for at least three (3) years
• Gross monthly sales of at least Php 20,000.00
• Business must be in the list of Top12K corporations, Known Companies or Plantersbank’s SME clients

Documentary Requirements

Employed Individuals

• Fully-accomplished and signed Plantersbank Auto Loan application form
• Certificate of Employment
• Commission Record or Payslip for the last 3 months (if with regular commission)
• Latest Income Tax Return – W2 form (Mandatory-BSP Requirement)

Self-Employed Individuals (Businessmen/Entrepreneurs/Professionals)

• Fully accomplished and signed loan application form
• Latest Income Tax Return – W2 form (Mandatory-BSP Requirement)
• DTI Registration
• Audited and In-House Financial Statements for the last 3 years
• Photocopy of Passbook or Statement of Account (for the last 3 months)

Corporate Borrowers

• Fully accomplished and signed loan application form
• Photocopy of business registration papers
• Articles of Incorporation & By-Laws
• Board Resolution
• Bank Statements for the last 6 months
• Latest Income Tax Return – W2 form (Mandatory-BSP Requirement)

Over-seas Filipino Workers (OFWs)

• Fully accomplished and signed loan application form
• Certificate of Employment with Consul authentication (for Land-based OFWs who are direct hirees)
• Contract of Employment with POEA Certification (for Land-based and Sea-based OFWs who are agency-hired)
• Proof of Remittance or Bank Statement (for the last 3 months)
• Special Power Attorney (duly signed and notarized)