Requirements for Security Bank Auto Loan Offer for OFW & Seaman Applicants

Guide on Requirements for Security Bank Auto Loan Offer Application for OFW & Seaman Applicants

REQUIREMENTS FOR SECURITY BANK AUTO LOAN OFW – Here are the documents that you need to prepare in applying for car loan.

Some banks have loan offers for the overseas Filipino workers (OFWs) including the seafarers. One of these is the Security Bank. In fact, if you are an OFW or a seafarer and you wish to apply for an auto loan, you can turn to the bank’s offer. You can find the details of the loan offer below.

Requirements for Security Bank Auto Loan

The Security Bank Auto Loan offer is open for several purposes. You may apply for the loan offer for the financing of any of the following:

  • acquisition of brand new or pre-owned car for personal use
  • refinancing of a car loan take-out
  • reimbursement of the purchase of a brand new vehicle
  • purchase of a brand new car for business use such as the following:
    • car rental services
    • transport services
      • taxi
      • Grab
      • UV Express
      • school service
      • company use or employee service
    • cargo
      • trucks

With regards to the requirements for Security Bank Auto Loan offer for applicants who are OFWs or seamen, there are basic requirements as well as specific documents that must be submitted as proof of income.

Lists of Requirements for Security Bank Auto Loan Offer

Basic Requirements:

  • duly-accomplished and signed Security Bank Auto Loan Application Form
  • valid government-issued ID of borrower, spouse (if the borrower is married), co-borrower, co-maker, and other signatories of the loan
    • the ID should bear the photo and signature of the owner

Proof of Income

  • If working as a seaman, prepare your latest Crew Contract
  • If not seaman but OFW, prepare your latest Employment Contract duly-authenticated by the Philippine Consulate

To apply, go to a branch of Security Bank and submit your documents. You might also be interested to check on the other loan offers of the bank. Feel free to visit – SECURITY BANK LOANS – Full List of Loan Offers by Security Bank.

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