Guide on Security Bank Auto Loan Offer Loanable Amounts
SECURITY BANK AUTO LOAN – Here are the minimum and maximum loanable amounts under this Security Bank loan offer.
Are you looking for a bank where you can apply for a car loan? Security Bank has the said offer and its offer serves multiple purposes. You may apply for it for the financing of any of the following purposes:
- purchase of brand new or pre-owned vehicles
- reimbursement of a brand new vehicle
- refinancing of a second-hand car or loan take-out
- purchase of brand new car for business purposes
Do you want to know the minimum and maximum amounts that you may borrow under the Security Bank Auto Loan offer? The bank has not state the minimum loanable amount but there are information as to the maximum amounts that you may borrow.
If your target vehicle is brand new, you can borrow up to 80% of the purchase price of the vehicle. If the vehicle is pre-owned, you can borrow up to 70% of its appraised value.
With regards to the requirements, the list of documents that you need to submit depends if you are locally employed, self-employed, or an overseas Filipino worker (OFW). You can check the guide below:
- For locally employed applicants – Requirements for Security Bank Auto Loan Offer for Employed Applicants (Locally).
- For self-employed applicants – Requirements for Security Bank Auto Loan Offer for Self-Employed Applicants.
- For overseas Filipino workers (OFWs) – Requirements for Security Bank Auto Loan Offer for OFW & Seaman Applicants.
To apply for the loan, go to Security Bank and submit your documents. All applications are subject to the approval of the bank. The approval time may take 3-5 banking days.
Aside from the auto loan offer, the bank also offers a cash loan. For a guide on the application process, you may visit – Security Bank Cash Loan Application: How To Apply & Requirements to Prepare.
