Guide on Sterling Bank Auto Loan Requirements Employed Individuals Must Submit To Apply
STERLING BANK AUTO LOAN REQUIREMENTS – For the employed individuals who want to apply for the loan offer, here are the documents required by the Sterling Bank of Asia.
Are you looking for a bank that can finance the purchase of your dream car? One of the trusted entities that you may turn to in the Philippines is the Sterling Bank of Asia. It is a reputable banking entity in the country with several loan offers.
Aside from the Sterling Bank Personal Cash Loan offer, the Sterling Bank of Asia also offers an Auto Loan that can finance the purchase of both brand new and pre-owned vehicles. You may also purchase a truck or a Harley Davidson motorcycle under the loan offer.
Under the loan offer, at least Php 100,000 is loanable and you can repay the loan for up to 60 months. Thus, there is an option for light monthly installments. The bank boasts its offer with flexible terms, fast processing, and easy payment modes.
To apply for the loan offer, here are the Sterling Bank Auto Loan requirements set by the bank for employed applicants:
Locally-Employed
- duly-accomplished and signed Sterling Bank Auto Loan Application Form
- At least 2 government-issued IDs
- Original Contract of Employment (COE) with salary, position, and length of service
- 1 month pay slip
- Income Tax Return
Overseas Filipino Worker (OFW)
- duly-accomplished and signed Sterling Bank Auto Loan Application Form
- At least 2 government-issued IDs
- Latest COE from the manning agency with salary & position
- Proof of Remittance, Allotment Papers with Beneficiary Data, or any qualified equivalent (if applicable): Remittance Receipt or Slip, Bank Passbook, Bank Statement
Aside from the aforementioned Sterling Bank Auto Loan requirements for application, there are also collateral documents required by the bank in the case of financing a purchase of a second-hand vehicle. Here are the collateral requirements set by the bank:
- Original OR/CR (under the borrower’s/ applicant’s name)
- Other Requirements For Brand New & 2nd Hand Vehicles (if applicable)
- Notarized Deed of Sale
- PNP Clearance with Macro Etching
- 3 Sets of LTO Stencils
With regards to the valid IDs accepted by the Sterling Bank of Asia, here are the identification documents and IDs accepted by the bank under the Auto Loan offer:
- Passport (Philippine Passport for Filipino applicants or any passport that proves identity)
- Driver’s License
- Professional Regulation Commission (PRC) ID
- National Bureau of Investigation (NBI) Clearance
- Police Clearance
- Postal ID
- Voter’s ID
- Taxpayer Identification Number (TIN) ID
- Barangay Certification
- Government Service Insurance System (GSIS) e-Card/Unified Multi-Purpose ID (UMID)
- Social Security System (SSS) ID
- Senior Citizen ID Card
- Overseas Workers Welfare Administration (OWWA) ID
- OFW ID
- Seaman’s Book
- Alien Certification of Registration/Immigrant Certificate of Registration/Special Investor’s
Resident Visa (SIRV)/Special Resident Retiree’s Visa (SRRV) - Government Office and GOCC ID
- ID issued by National Council on Disability Affairs (NCDA)
- Department of Social Welfare and Development (DSWD) Certification
- Integrated Bar of the Philippines (IBP) ID
- Company IDs
- School ID signed by the principal or head of the institution (For Filipino Students only)
- PhilHealth Health Insurance Card ng Bayan
- Birth Certificate issued by the Philippine Statistics Authority (PSA)
- Philippine Identification (PhilSys ID/Philippine ID (PhilID)/National ID)
- Philippine Identification System (PhilSys) Digital ID and Printed e-Philippine Identification (ePhilID)