Guide on Security Bank Auto Loan Requirements 2025 for Application Process
SECURITY BANK AUTO LOAN REQUIREMENTS 2025 – For overseas Filipino worker (OFW) applicants who want to apply for the offer, here are the documents required in applying for the offer.
There are a lot of benefits in having your own vehicle. You can get to your target destination at the time you really needed to and you also won’t have to deal with the hassle and heat of the public commute. Are you planning to get your own car soon?
Nowadays, there are auto loan offers that are open not only for Filipinos who are residing in the Philippines but as well as those who are working abroad or the OFWs. One of the trusted banking entities with an Auto Loan offer for OFWs is the Security Bank.
The Security Bank is one of the longest-serving banks in the Philippines. This trusted banking entity that operates in the Philippines since 1951 offers both personal and business finance products. It also has several wealth products. Under the personal offers of the bank, there are varieties of loans which include the Auto Loan.
The Security Bank Auto Loan offer is open for several purposes. You may apply for it to obtain an access for the financy of any of the following purposes:
- 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
Are you an OFW who wants to apply for the loan offer? There are specific lists of Security Bank Auto Loan requirements and qualifications for you. To qualify for the loan application, you need to meet the following eligibility requirements:
- 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
As mentioned, there is a specific list of Security Bank Auto Loan requirements for OFW applicants. If you are a Filipino working abroad who wants to drive your own car soon, you need to prepare and submit the following documents to Security Bank for the loan application:
- 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 Crew Contract (for seafarer/seaman); Latest Employment Contract duly authenticated by Phil. Consulate (for OFWs)
- Proof of Remittance (allotment slips) for at least 3 months
The bank has set additional documents in applying for the loan for the purpose of financing the purchase of a pre-owned vehicle. You must submit the following documents:
- 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)
You might also be interested in owning a house soon. You can check out the Security Bank Home Loan offer.