Guide on BDO Auto Loan 2023 Application Process
BDO AUTO LOAN 2023 – Here is a guide on how to apply for the BDO Unibank loan offer and the requirements for application.
Are you wondering if the loans offered by BDO Unibank can help you achieve your dream car? The answer is a resounding yes. The bank has the BDO Auto Loan offer that caters purposes involving both brand new and pre-owned vehicles.
The BDO Auto Loan 2023 offer is open to finance the purchase of a vehicle whether it is for personal use or for business purposes. You may apply for the loan offer to finance any of the following 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
With regards to the BDO Auto Loan loanable amounts 2023, the bank only stated the minimum borrowing amount allowed under the offer. Meanwhile, if you want to make sure that you get the best loan package that suits your budget, you can make use of the BDO Auto Loan calculator.
In applying for an auto loan to finance a car purchase, it is important to know that there is a downpayment. In the case of the BDO Auto Loan 2023 offer, the downpayment depends if the vehicle is brand new or pre-owned and if the car will be used for personal purposes or business purposes.
There is an easy process on ho to apply for the loan offer. Here are the steps that you may follow:
Step 1 — Check the Qualifications.
The BDO Unibank has set different eligibility requirements depending if you are locally-employed, working abroad, or self-employed. For locally employed loan applicants, here are the qualifications:
- 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
- at least 2 years with current company
For self-employed clients, here are the eligibility requirements set by the bank for qualification to the loan offer:
- 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
- at least 2 consecutive profitable years of operation
For Overseas Filipino Workers (OFWs), to qualify, you must meet the following eligibility requirements:
- 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
- 2-3 years consecutive employment. Assignment of Beneficiary as Loan Administrator if not in the Philippines at the time of application
Step 2 — Prepare the Requirements.
The next step is to prepare the requirements for BDO Auto Loan application. Make sure you have all the documents required by the bank for evaluation.
Step 3 — File your Loan Application.
Go to a branch of BDO Unibank and file your loan application by submitting the requirements. Wait for the call of the bank for the interview and as well as the notification after for the result of your loan application.
