Security Bank Car Loan — Drive Your Dream Wheels with Low Rates, Fast Approval

Features of Security Bank Car Loan Offer for Aspiring Clients

SECURITY BANK CAR LOAN – Here are the special features under this Security Bank loan offer that finances vehicle purchase.

Are you excited to drive your dream car soon? One of the entities that you may turn to is Security Bank which is in the service of the Filipino people for decades now.

The Car Loan offer of the bank is open to finance several purposes that encompass both personal use and business intents. You may apply for it to fund any of the following:

• Purchase of a brand new or second hand car for personal use
• Refinancing of a second hand car/loan take-out
• Reimbursement of a brand new vehicle
• Purchase of a brand new car for business use
  • Car Rental Services
  • Cargo (e.g. Trucks)
  • Transport Services (e.g. Taxi, Grab, UV Express, School Service, Company Use / Employee Service)

One of the best features of the Security Bank Car Loan is that it accepts several types of vehicles as collaterals. Truth be told that most of the other car loan offers only accept vehicles that are for personal use. Here are the units accepted by the bank for collateral of the loan:

• Passenger cars/vans
• Sports Utility Vehicles (SUVs)
• Asian Utility Vehicles (AUVs)
• Light Commercial Vehicles (4 or 6-wheeler), such as utility vans, pick-ups and light trucks
• Trucks (10-wheeler)-for brand new and selected brands only

Who are qualified to apply for the Security Bank Car Loan offer? The loan is open for both employed and self-employed individuals as well as Filipino and foreign citizens. Here is the eligibility criteria set by the bank under the offer for individual applications, partnerships and corporations, and start-up businesses.

Individuals

• Filipino citizens who are residents of the Philippines; or Foreign citizens residing in the Philippines
• Filipino citizens who are residing outside the borders of Philippines, provided with qualified Filipino citizen guarantor or co-maker in place
• at least 21 years old at the time of the loan application
• not more than 65 years upon final maturity of the loan
• earning a minimum joint monthly gross income with spouse of Php 40,000 (brand new) or Php 20,000 (2nd hand/used car)
• Employed for at least 2 years or officer position on a permanent / regular basis

Partnerships and Corporations

• duly-registered to operate as a legal entity in the Philippines
• must be in operation for at least three (3) years

Start-up Businesses

• start-ups or businesses operating for less than 3 years, co-makers / sureties are required
• must have strong business prospects/potentials based on evaluation

With regards to the loanable amount, the minimum amount allowed for borrowing is Php 400,000 for brand new vehicles and Php 100,000 for second-hand cars. Here are the interest rates implemented by the bank:

Aside from knowing the interest rates set under the Security Bank Car Loan offer, it is also an edge to know the charges that the bank implements. Here are the fees that clients must be aware of: