Guide on Maybank Brand New Car Loan Features and Requirements To Apply
MAYBANK BRAND NEW CAR LOAN – Here is a guide on the features and the requirements in applying for the loan offer of Maybank Philippines.
Are you excited to drive your own brand new car? You don’t need to wait for years so you can save money for its purchase. There are entities that are ready to help you achieve the goal the soonest time possible under affordable repayments.
One of the entities that you may turn to is Maybank Philippines which offers several auto loans. One of which is the Maybank Brand New Car Loan that makes owning your dream car easy.
The loan offer is ready to finance brand new vehicles that are set not only for personal use but as well as business use. The bank boasts its offer with one-day approval process and the minimal documents for application.
Under the Maybank Brand New Car Loan, the least amount of downpayment is equivalent to 20% of the selling price of the vehicle. Thus, if your dream car is sold at Php 1 million, you only need to prepare Php 200,000 for the downpayment.
The maximum loan term is up to 60 months. The loan offer is open for both locally-employed and self-employed individuals and the qualifications may very.
For locally-employed individuals. Here are the eligibility requirements set by the bank under the Maybank loan offer:
- a Filipino citizen
- at least 18 years old at the time of the loan application and not more than 65 years old at the time of the loan maturity
- has no adverse records
- owner of a residence
- permanently employed for at least 2 years
For self-employed individuals. Here are the qualifications set Maybank under the loan offer:
- a Filipino citizen
- at least 18 years old at the time of the loan application and not more than 65 years old at the time of the loan maturity
- has no adverse records
- owner of a residence
- business in operation for at least 3 years
With regards to the requirements in applying for the Maybank Brand New Car Loan, here are the documents that must be prepared and submitted to the bank for application:
- duly-accomplished and signed Maybank Car Loan Application Form
- 2 valid IDs (borrower and spouse / authorized signatory)
- Latest income tax return
- Compensation certificate, income indicated (if employed)
- Business Papers (SEC Registration, Articles of Incorporation & By-Laws if Partnership and Corporation; DTI Registration if Single Proprietorship)
- Latest 3 months Bank Statements (if self-employed)
- Latest Audited Financial Statements (for Corporate Borrowers)
Aside from financing the purchase of a brand new car, Maybank is also ready to finance the purchase of used cars or pre-owned vehicles of qualified clients.
