Guide on How Much You Can Borrow Under the PNB Global Filipino Loan (Auto Loan)
PNB GLOBAL FILIPINO LOAN – Here is a guide on how much you can borrow under the Philippine National Bank’s Global Filipino Auto Loan offer.
A lot of Filipinos are working abroad to give their families in the Philippines better and more comfortable lives. Several banks are on the same page with these overseas Filipino workers (OFWs) and wanted to lend a helping hand. One of those banks is the Philippine National Bank (PNB).
The said government bank wanted to help the OFWs give their loved ones a more comfortable life through their loan offers. One of it is the Global Filipino Auto Loan.
The PNB Global Filipino Loan is excellent for OFWs who wanted to purchase a car in the Philippines while working abroad. In that way, they are assured that their loved ones experience comfort and convenience in traveling to anywhere they want. Do you want to know how much you can borrow under it?
On its official website, the Philippine National Bank has posted details about the loanable amounts under the Global Filipino Auto Loan offer and as well as the maximum payment term. It also posted information about the interest rate.
The PNB Global Filipino Loan is open for the financing of sedan, Sports Utility Vehicle (SUV), passenger vans, Asian Utility Vehicle (AUV), and Light Commercial Vehicle (LCV). Here are the details on how much you can borrow under this offer:
- Minimum Loanable Amount – Php 400,000.00
- Maximum Loanable Amount – Up to 80% for brand-new vehicles
According to PNB, the borrower may pay for the loan for up to sixty(60) months. The interest rate would depend on the rate set by the banking firm using the add-on interest method.
The borrower must be at least 21 years old but not more than 60 years old upon the loan maturity. Also, he or she must be working abroad for at least two(2) years already. Here is a list of the documents needed in applying for the said offer:
- Signed application form with ID picture;*
- Special power of attorney (SPA), duly authenticated by the embassy
- Authenticated contract of employment or
- Authenticated pay slip
- Certified statement of income and expenses
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.
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