Robinsons Bank Auto Loan Offer Features & Application
ROBINSONS BANK AUTO LOAN – The Robinsons Bank is ready to finance your vehicle purchase whether it is a brand new or pre-owned car.
Undeniably, a lot of people prefer having a car over a two-wheeled vehicle as it can accommodate several individuals which is ideal for a family. Also, you can freely travel rain or shine and there is no risk of basking under the sun or getting wet by the rain.
Having a car is also an emergency preparation. You can go and be where you need to be even at the wee hours of the day. It really gives a lot of convenience in terms of traveling.
However, truth be told that a car purchase requires thousands of money and most people is not ready for a one-time car purchase. Meanwhile, there are loan offers that you may turn to including the Robinsons Bank Auto Loan.
The Robinsons Bank Auto Loan is ready to finance the purchase of both brand new and used cars. Under the loan offer, the bank requires a downpayment of only 20% of the SRP of the vehicle’s selling price. How much is the maximum loanable amount?
- For brand new cars, you may borrow up to 80% of the net cash price of the vehicle.
- For used cars, you may borrow up to 70% of the appraised value of the car.
With regards to the loan terms, the loan can be paid to the bank for at least one (1) year up to 60 months for brand new vehicles and 48 months for used cars. Here are the qualifications in applying for the Robinsons Bank Auto Loan offer:
- at least 25 years old at the time of application
- Filipino or Foreign citizen
- stable source of income:
- For Employed: Working for at least 3 years and with current employer for at least 6 months
- For Business: Should be in operation for at least 3 years
With regards to the interest rates, it depends on the loan term and whether or not there is a one-month advance payment. Here’s a guide:
| Tenor | Add-On Rate (AOR) | One Month Advance (OMA) |
|---|---|---|
| 12 months | 5.02% | 4.31% |
| 18 months | 7.20% | 6.46% |
| 24 months | 10.47% | 9.67% |
| 36 months | 16.48% | 15.56% |
| 48 months | 22.38% | 21.40% |
| 60 months | 28.76% | 27.70% |
The requirements in applying for the Robinsons Bank Auto Loan offer depends if you are locally-employed, self-employed, an overseas Filipino worker (OFW), or a partnership or corporation. Here are the documents required by the bank:
Locally Employed
- Filled-out and signed application form
- Certificate of Employment
- Income Tax Return (ITR) BIR form 2316
- Photocopy of government issued IDs
- Proof of billing
Self Employed
- Filled-out and signed application form
- Latest 3 months Bank Statements
- DTI Registration
- Photocopy of government issued IDs
- Proof of billing
OFW (Sea Based)
- Filled-out and signed application form
- Latest 3 months Bank Statements
- DTI Registration
- Photocopy of government issued IDs
- Proof of billing
OFW (Land Based)
- Filled-out and signed application form
- Certificate of Employment
- Income Tax Return (ITR) BIR form 2316
- Photocopy of government issued IDs
- Proof of billing
Partnership or Corporation
- Filled-out and signed application form
- Certificate of Employment
- Income Tax Return (ITR) BIR form 2316
- Photocopy of government issued IDs
- Proof of billing
Are you planning to get a house or another residential property? The Robinsons Bank also has a housing loan offer.