Guide on UnionBank Car Loan Application Process & Requirements
UNIONBANK CAR LOAN – You can check the guide below on how to apply, the requirements to prepare, and the interest rates under it.
UnionBank is one of the entities in the Philippines that you can turn to for a loan if you are planning to buy a vehicle. Its loan offer covers both brand new and pre-owned vehicles and you can check the application process and requirements below.
How to Apply for UnionBank Car Loan Offer
Step 1 – Are you qualified? There are always qualifications set by the lender in applying for a loan. To be eligible to apply for the loan offer, the borrower-applicant mus be:
- at least 21 years old at the time of the loan application
- 65 years old and below upon the end of the loan term
- a Filipino or a foreign national married to a Filipino; a corporation; a partnership
Step 2 – Prepare your documents. There are documentary requirements and it depends if you are applying as an employed individual or as self-employed.
- duly-accomplished UnionBank Loan Application Form
- two (2) valid Government issued IDs with signatureProof of billing address
- proof of billing address
- proof of income
- If employed:
- COE -Certificate of employment with compensation
- (3) months’ payslip
- Latest Income Tax Return (ITR)* -ITR is not required for loan amounts below P3,000,000
- If self-employed:
- Business Registration papers (DTI, SEC if applicable)
- ITR with audited financial statements (2 years)
- Trade references
- If employed:
Step 3 – Submit your documents. Go to a branch of UnionBank and submit your documentary requirements. Be prepared for an interview and wait for the result of your loan application.
Do you want to check on the interest rates under this UnionBank loan offer? Feel free to visit – UnionBank Auto Loan Interest Rates Based on Term (Updated List).
