Guide on How To Apply for Security Bank Car Loan Offer
HOW TO APPLY FOR SECURITY BANK CAR LOAN – Here are the steps in applying for the Car Loan offer of the Security Bank.
Are you interested to purchase a car under the Car Loan offer of the Security Bank? It is one of the most trusted entities in the Philippines and its loan offer is open for locally-employed individuals, self-employed individuals, partnerships, and corporations.
The Car Loan offer is also open for individuals who are just beginners in the business field. The vehicle to be financed can be used for both personal and business purposes. Cars up to eleven (11) years are accepted under the loan offer. It has minimal requirements and a short process which you can find below.
Are you excited to drive your own wheels soon? There is an easy process on how to apply for the Security Bank Car Loan offer. Here are the steps that you may follow to ensure a smooth process in applying for the loan offer:
Step 1 — Check the qualifications. Make sure that you pass the eligibility requirements set by the bank. If you are applying as an individual, you must be 21 years old at the time of the loan application and not more than 65 years old upon the loan maturity.
In case you are in your 60s, you can adjust with the eligibility requirement on age based on the loan term that you will choose. There is also a minimum monthly gross income requirement such as the following:
- Brand new vehicle — Php 40,000.00
- Second hand vehicle — Php 20,000.00
Step 2 — Prepare the documents required by the bank. There are documentary requirements for the Security Bank Car Loan application and the list varies among locally-employed individuals, self-employed individuals, and overseas Filipino workers (OFWs).
Step 3 — Submit the requirements. Visit a branch of the Security Bank nearest to you and submit the requirements to file your loan application. The loan processing may take between three (3) to five (5) banking days.
The Security Bank offers a one-year car insurance for free on vehicles that were acquired under its loan offer. Wait for an update from the bank regarding the status of your loan application.
