Guide on Security Bank Auto Loan Requirements 2025 for Application Process
SECURITY BANK AUTO LOAN REQUIREMENTS 2025 – For self-employed applicants who want to apply for the offer, here are the documents required in applying for the offer.
Having a car of your own nowadays is no longer just an item of luxury. More and more people realize its benefits and how it can make life so much more convenient and your travels comfortable most especially in this hectic days-filled world. There are banks that are ready to help you get to having your own car the soonest time possible.
The Security Bank which is one of the most popular and trusted banks in the country has a variety of offers that can help you achieve your biggest dreams in life. To recall, it is one of the reputable banking entities that is in the service of the Filipino people for several decades now since 1951.
Through the years, the bank has continuously grew its offers. It now has a variety of loan offers which includes the Security Bank Auto Loan that serves several purposes. You may apply for it for the financing of any of the following:
- acquisition of a brand new or pre-owned vehicle
- reimbursement of a brand new vehicle
- refinancing of a second-hand car/loan take-out
- purchase of a brand new car for business use
The loan offer is not only open for salaried individuals but as well as self-employed ones. Are you a self-employed individual who wants to have your own car soon? Before checking on the Security Bank Auto Loan requirements for application, it is best to first check on the qualifications. To be eligible to apply for the loan offer, here are the qualifying requirements that you should meet:
- 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
There are Security Bank Auto Loan requirements that you need to prepare and submit to the bank in applying for the offer. In the case of self-employed loan applicants, you need to prepare the following documents:
- 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)
- Latest Audited Financial Statements/Statement of Assets and Liabilities/Statement of Income and Expenses
- Certificate of Business Registration with DTI (sole proprietorship) or SEC (partnership/corporation)
- Bank Statements or photocopy of Passbook for the last 3 months
- proof of Other Income (Certificate of Deposits, Stock/Bond Certificates, Lease Contracts, etc.)
Security Bank requests the submission of some additional Security Bank Auto Loan requirements if the vehicle involved in the transaction is a second-hand car. You need to include the following in your loan application:
- 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 Auto Loan offer, the trusted banking entity is also ready to help qualified individuals achieve their dream home. You may also check on the Security Bank Home Loan offer.