Guide on Security Bank Auto Loan Requirements 2025 for Application Process
SECURITY BANK AUTO LOAN REQUIREMENTS 2025 – For locally-employed applicants who want to apply for the offer, here are the documents required in applying for the offer.
Are you excited to have your hands on the steering wheel of your dream car soon? You don’t have to wait for several years or decades anymore. There are some trusted entities out there that are willing to help you out in achieving your dream.
In the Philippines, one of the longest-serving banks is the Security Bank which is then known as the Security Bank and Trust Company. It was established in 1951 and was the first private bank controlled by a Filipino in the post World War II era. It has a variety of bank account, loan, and credit card offers.
One of the loan offers of the trusted bank is the Security Bank Auto Loan. It is ready to finance the purchase of both brand new and pre-owned vehicles, the reimbursement of a purchase of a brand new car, the refinancing of a car loan take-out, as well as the purchase of a brand new car for business use.
Are you interested to apply for the loan offer? There are varying Security Bank Auto Loan requirements depending if you are locally-employed, self-employed, or working abroad. If you are locally-employd, here are the qualifications you must meet to be eligible to apply for the offer:
- Filipino citizens who are residents of the Philippines; or Foreign citizens residing in the Philippines, provided, accompanied with a positive endorsement from the company he is affiliated with & a qualified Filipino citizen guarantor or co-maker in place, or
- Filipino citizens who are residing outside the borders of Philippines, provided with qualified Filipino citizen guarantor or co-maker in place
- at least 21 years old upon the loan application but not more than 65 years upon final maturity of the loan
- minimum joint monthly gross income with spouse of PHP40,000 (brand new) or PHP20,000 (2nd hand/used car)
- employed for at least 2 years or officer position on a permanent / regular basis
With regards to the Security Bank Auto Loan requirements for application, here are the documents that locally-employed applicants should prepare and submit in applying for the offr:
- duly-accomplished and signed Security Bank Auto Loan Application Form
- valid Government-issued ID (with signature and photo) of borrower/spouse/co-borrower/co-maker/signatories ofthe loan
- dealer quotation
- Latest Income Tax Return (ITR) / BIR Form 2316 (duly stamped by BIR), Or Pay Slips for at least 3 months
- Latest Certificate of Employment with Compensation
In the case of second-hand vehicles, there are additional Security Bank Auto Loan requirements for application. Here are the documents that you must include in your loan application to the Security Bank:
- copy of LTO OR/CR under the name of the seller/applicant
- Deed of Sale
- PNP Clearance and Macro Etching Certificate
- Bill of lading and importation papers, including proof of payment on custom and duty taxes (for imported units only)
Aside from the said loan offer, the bank also has the Security Bank Home Loan.