Check Here the Security Bank Car Loan Requirements for Application
SECURITY BANK CAR LOAN REQUIREMENTS – Here are the documents required by the Security Bank in applying for its offer.
Banks are among the entities that you may turn to for loans that can finance vehicle acquisitions. In the Philippines, one of the reputable banking firm is the Security Bank which has an excellent offer.
The Security Bank Car Loan is open to finance both brand new and pre-owned vehicle acquisitions whether the car will be used for personal or business purposes. The bank boasts its offer with low interest rates, high loanable amounts, and short requirements.
The Security Bank Car Loan requirements for application depend if you are locally-employed, self-employed, or an overseas Filipino worker (OFW). Here is a guide on the documents that you need to prepare and submit to the bank:
Locally-Employed
- 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
- Latest Proof of Billing under borrower’s name
- 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
Overseas Filipino Worker (OFW)
- 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
- Latest Proof of Billing under borrower’s name
- 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
Self-Employed
- 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
- Latest Proof of Billing under borrower’s name
- 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.)
The Security Bank Car Loan requirements also include documents pertaining to the collateral if the unit involved is a secondhand car or an imported vehicle. The bank requires the submission of 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)
