Guide on BDO Auto Loan Requirements You Must Submit To Apply
BDO AUTO LOAN REQUIREMENTS – Locally-employed applicants should meet the following qualifications and submit these documents to apply for loan.
Are you interested to apply for the Auto Loan offer of BDO Unibank? You do not have to wait long to be able to drive your own wheels. Through the offer, you can go through an easy and fast application process and start enjoying the benefits of your dream car.
The loan offer is open for locally-employed individuals in the country aside from the self-employed individuals and the overseas Filipino workers. The bank has set lists of qualifications and BDO Auto Loan requirements for application.
The BDO Auto Loan requirements depend on the nature of the source of income. First, here are the qualifications in applying for the loan offer:
- Filipino citizen or foreign nationals
- 21 years old and above at the time of the loan application
- not exceeding 70 years old at the end of the loan term
- with a minimum gross family income of ₱50,000/month or its equivalent in US Dollars
- with stable source of income
- at least 2 years with current company
With regards to the BDO Auto Loan requirements for application, here are the documents that the locally-employed individuals must submit in applying for the loan offer:
- duly-accomplished and signed BDO Auto Loan Application Form
- photocopy of one (1) valid ID matching application details such as:
- Driver’s License
- Passport
- Tax Identification Number (TIN) ID
- Social Security System (SSS) ID
- Government Service and Insurance (GSIS) eCard
- proof of income (any of the following):
- Latest Income Tax Return or BIR Form 2316 or latest payslip
- Certificate of Employment with Salary
- Additional for Foreigners, current employment contract
It is best to know that there are fees in applying for loans or being granted one. Under the BDO Home Loan offer, here are the charges that loan applicants must be aware of:
- Chattel Mortgage Fees (CMF) which include the documentary stamp tax, processing and notarial fees. It is approximately 2-3% of the loan amount.
- Comprehensive Motor Insurance Premium based on the type of vehicle and the purchase price of the car.
- Compulsory Third Party Liability (TPL) Insurance which is Php 700.00 for one year
