Guide on Loanable Amounts Under China Bank Auto Loan (China Bank Savings)
CHINA BANK AUTO LOAN – Here is a guide on how much you can borrow under the car loan offer of China Bank Savings.
Nowadays, the loan offers are not simply to help people make ends meet. There are already those that can help individuals make big things happen like buying a house or a car.
Are you one of those people who wanted to purchase a car soon? You may need some financial assistance – China Bank Savings has an offer.
You may apply for China Bank Auto Loan. It is open for both brand new and pre-owned vehicles. With regards to the latter, the vehicle must be not more than four (4) years old. The loan repayment term varies depending on the age of the car.
China Bank Savings has a few requirements in applying for the said offer. You need to prepare the following documents:
- Duly-Accomplished CBS Auto Loan Application Form
- Latest Bank Statements / Passbook (3-Month Transactions)
- Certificate of Employment (If employed)
- ITR or BIR Form 2316 or pay slips for at least three (3) months immediately preceding the date of the loan application
- Fully completed Deed of Undertaking for the car insurance coverage
- Written consent of the spouse for married applicants
Do you want to know how much you may borrow under China Bank Auto Loan? You may borrow from Php 10,000.00 to Php 10,000,000.00 as allowed by its online calculator.
According to China Bank Savings, the car purchase is already inclusive of a Php 17,000.00-comprehensive car insurance for the first year of use. For brand new units, you may for the loan for up to 60 months and 48 months for pre-owned vehicles.
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