Guide on the Features of RCBC Auto Loans (Brand New & Pre-Owned)
RCBC AUTO LOANS – Here is a guide on the features of the auto loan offers of Rizal Commercial Banking Corp. for the purchase of brand new and pre-owned vehicles.
Having your own car brings a lot of convenience. You can arrive at your destination at your target time and you won’t find it hard to catch a ride most especially during the bad weather. That is why a lot of people are thankful over the auto loan offers of banks. One the banks which has these offers is RCBC.
The auto loan offers of RCBC is open for the purchase of both brand new and pre-owned vehicles. To be eligible for the said offers, the applicant must be:
- a Filipino citizen or a foreigner with ACR
- at least 21-65 years old
- permanently employed for at least two(2) years or in a profitable business that operates for at least two(2) years
With regards to the RCBC Auto Loans, there are differences in terms of the features of offers for the purchase of a brand new car and a pre-owned vehicle. Based on the official website of the bank, here are the special features of the loan offers:
Brand New Car Purchase
- Minimum Loanable Amount: Php 300,000.00
- Maximum Loanable Amount: Up to 80% of the selling price
- Payment Terms: 12-60 months
- Downpayment: 20% of the selling price
Pre-Owned Car Purchase
- Minimum Loanable Amount: Php 200,000.00
- Maximum Loanable Amount: Up to 70% of the selling price
- Payment Terms: 12-60 months
- Downpayment: 30% of the selling price
With regards to the requirements in applying for the RCBC Auto Loans, here are lists of the documents that applicants must prepare based on the employment status of the borrower:
For Employed Applicants…
- Copy of latest Income Tax Return (ITR), Certificate of Employment and Compensation
- Valid Government IDs
- TIN
- 1 month latest utility bill
For Self-Employed Applicants…
- Business Registration, Audited Financial Statements and Income Tax Return (ITR)
- Valid Government IDs
To apply for the loan offers, you may visit the official website of the bank – https://www.rcbc.com.
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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