List of the BDO Auto Loan Fees / Charges Borrowers Must Prepare For
BDO AUTO LOAN FEES – Here is a list of the charges under the auto loan offer of BDO Unibank which aims to help people achieve their dream cars.
Now, there are a lot of options on how to achieve your dream car even if you don’t have a huge amount of money in your bank account. Several banks now offer auto loans which are open for several purposes. One of these banks is BDO Unibank.
The BDO Auto Loan is open to assist a purchase of a brand new or second-hand vehicle. To be eligible for the said loan offer, the applicant must be:
- not below 21 years old but not more than 70 years old when the loan matures
- a Filipino citizen or foreigner residing in the Philippines for not less than two(2) years
- having a minimum household income of Php 50,000.00 per month
- having a stable source of income (locally employed, self-employed, or employed abroad)
In applying for the said loan offer, just like any other loan offered by other banks, there are BDO Auto Loan fees that borrowers must be prepared of. Based on the official website of the bank, here is a list of the charges that applicants must prepare for:
- Chattel Mortgage Fees (CMF) – approximately 2-3% of your loan amount
- Motor Insurance Premium – it will depend on the type of vehicle you purchased and its price
- Comprehensive Third Party Liability (TPL) Insurance – Php 700.00 per year
According to the bank, the aforementioned BDO Auto Loan fees have to be paid prior to the releasing of the loan proceeds. The motor insurance is a requirement in getting an auto loan.
Do you want to apply for the said loan offer? For a guide on the process and the requirements that you must comply, BDO Car Loan: How To Apply For Auto Loan To Banco de Oro.
Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.
READ ALSO: BDO UNIBANK LOANS – Full List of BDO Personal & Business Loan Offers
