Guide on AUB Home Loan 2024 Application Process & Requirements
AUB HOME LOAN 2024 – You can check here the features under the Home Loan offer of Asia United Bank and how to apply for it.
Are you looking for a bank where you may apply for a loan that can finance your purchase of a residential property? In the Philippines, one of the reputable banking entities that you may turn to is the Asia United Bank.
More popularly called AUB, the Asia United Bank is one of the long-standing banking companies in the country. It was in 1997 when it was granted a full-branch commercial banking license. The bank is a product of a joint venture between a consortium of Filipino Industrialists and Taiwanese investment banks such as the China United Trust & Investment Corporation and the China Development Industrial Bank.
The Asia United Bank offers savings, current, time deposit, and prepaid accounts; loans; investment products; credit cards; and cash management services among others. Aside from the AUB Seafarers Loan, the bank also offers the AUB Home Loan.
With regards to loanable amounts under the Asia United Bank’s Home Loan offer, the bank has set a fixed amount for minimum borrowing amount allowed and a percentage depending on the selling price of the property.
- Minimum Loanable Amount — Php 1 million
- Maximum Loanable Amount — up to 80% of the appraised value of the property
Under the AUB Home Loan offer, a client is allowed to repay the amount borrowed for up to 20 years subject to the approval of the bank. The interest rate depends on the fixing term chosen by the client:
- 7.00% for fixed 1 year
- 8.00% for fixed 3 years
- 8.25% for fixed 5 years
To apply for the AUB Home Loan offer, there are a few steps involved in the process. Here is a guide in the application process:
Step 1 — Check the eligibility requirements
- at least 21 years old but not more than 70 years old upon the end of the loan term
- earning at least Php 50,000 monthly gross income
- employed or self-employed
- If employed, the loan applicant must be employed for at least two (2) years already in their current company
Step 2 — Prepare the requirements
There are documentary requirements set for the AUB Home Loan application. Make sure to gather all the required documents based on whether you are locally-employed or self-employed.
Step 3 — File your loan application
Visit a branch of the Asia United Bank (AUB) nearest to the property. Submit your documents and wait for an update from the bank on the result of your loan application.