Guide on the Requirements for BDO Auto Loan 2023 Application
REQUIREMENTS FOR BDO AUTO LOAN 2023 – Here are the documents required by BDO Unibank in applying for the car loan offer.
When it comes to trusted and popular banks in the Philippines, one of the banking companies that is sure to top the list is BDO Unibank. It has several branches across the nation delivering services to its millions of clients. It also has several overseas Filipino worker (OFW) clients in different countries.
BDO Unibank offers several banks. Aside from the BDO Personal Cash Loan 2023 and the BDO cash loan for OFWs, the popular banking entity also offers an Auto Loan. It is open for several purposes.
You may apply for the Auto Loan offer of BDO Unibank to finance any of the following car-related purposes:
- Purchase of Brand-New Cars including Electric and Hybrid Electric models
- Reimbursement of Brand-New Car Purchase
- Vehicle must not be more than one (1) month old from delivery date of dealer to the owner and with a mileage of less than 2,500 kilometers
- Purchase of Pre-owned Cars
- Year model must not exceed six (6) years upon loan maturity
In applying for the offer, there are both eligibility and documentary requirements for BDO Auto Loan 2023 application. To qualify, here are the eligibility criteria set by the bank:
- At least 21 years old but not exceeding 70 years old at the end of the loan term
- Filipino citizen or foreign nationals
- Minimum gross family income of ₱50,000/month or its equivalent in US Dollars
- With stable source of income from employment or business
- Locally employed: at least 2 years with current company
- Self – employed: at least 2 consecutive profitable years of operation
- Employed abroad: 2-3 years consecutive employment. Assignment of Beneficiary as Loan Administrator if not in the Philippines at the time of application
With regards to the documentary requirements for BDO Auto Loan 2023 application, there are general documents as well as specific documents that are based on the employment status of the client. Here is a guide for you as set by BDO:
General Requirements:
- completely filled-out application form
- photocopy of one (1) valid ID matching application details
- For Foreigners, Alien Certificate of Registration with Work Permit
Income Requirements:
- Locally Employed (any of the following):
- Latest Income Tax Return or BIR Form 2316 or latest payslip
- Certificate of Employment with Salary
- Additional for Foreigners, current employment contract
- Self-Employed:
- Photocopy of Audited Financial Statements for the last 2 years with latest ITR
- Bank Statements or Photocopy of Passbook for the last 3 months
- Certificate of Business Registration
- Employed Abroad (any of the following):
Requirements for Loan Applicants Abroad:
- Proof of Remittance for the last 3 months
- Latest Crew Contract (if sea based)
- Consularized Certificate of Employment with Income(COEI) or latest three (3) months payslip.
