Guide on Security Bank Auto Loan Features & Application
SECURITY BANK AUTO LOAN 2025 – You can check here the special features that wrap the car loan offer of the reputable banking entity.
Truth be told that having your own car decades ago seemed like a luxury that only speaks about one’s financial status in life. However, after several decades that changed how the world goes have passed, having a car now is a necessity for many people.
By having your own car, it is already an emergency preparation for unforeseen circumstances like medical emergencies in the wee hours of the night. It can also help make your daily travel convenient and comfortable. You can plot your own schedule to get to your appointment safely and you don’t have to deal with the competition in getting for a public ride amid a busy day.
However, truth be told that not everyone affords to buy a car in cash. While the decades that passed have greatly changed how having a car brings, the costs of the vehicles still requires thousands or even millions of money. Meanwhile, there are entities that you can turn to — like the Security Bank.
The Security Bank is one of the trusted banking entities that operate in the Philippines since 1951. It is known as the first Filipino-controlled bank founded after the World War II. It has several offers that include both personal and business finance products.
With regards to the loan offers of the bank, aside from the Security Bank Home Loan, the trusted banking entity also has the Security Bank Auto Loan offer. It is ready to finance the following purposes:
- purchase of a brand new or second hand car for personal use
- reimbursement of a brand new vehicle
- refinancing of a second hand car/loan take-out
- purchase of a brand new car for business use
How much is loanable under the Auto Loan offer? The maximum borrowing amounts allowed by the bank depends if the vehicle is brand new or pre-owned. Here’s a guide:
- Brand New — up to 80% of purchase price
- Second-Hand — up to 70% of appraised value
For brand new vehicles financed under the Security Bank Auto Loan offer, the borrowed amount is payable from 12 months up to 60 months. For pre-owned vehicles, the loan term is from 12 up to 48 months.
With regards to the downpayment, you only have to prepare an equivalent of at least 20% of the purchase price of the vehicle. Here are the interest rates under the offer for the financing of brand new cars:
| Term | Standard | With One Month Advance |
| 12 | 5.47% | 4.69% |
| 18 | 8.23% | 7.38% |
| 24 | 11.86% | 10.94% |
| 36 | 17.76% | 16.76% |
| 48 | 24.13% | 23.05% |
| 60 | 31.76% | 30.57% |
The approval time of the loan application to Security Bank is between three (3) to five (5) banking days. The loan offer is open for locally-employed and self-employed applicants as well as overseas Filipino workers (OFWs) and partnerships and corporations: