Details about the UnionBank Auto Loan Interest Rates Based on Loan Term
UNIONBANK AUTO LOAN INTEREST RATES 2024 – Here are the interest rates set by the UnionBank Philippines under the car loan offer.
In the Philippines, one of the banks that has an excellent Auto Loan offer is the UnionBank. It is one of the bank’s main loan offers for several years now and it comes with excellent features.
The Auto Loan offer of UnionBank is ready to finance both the purchase of brand new and pre-owned vehicle. It is also open to finance the purchase of a brand new light truck. Under the offer, the amount borrowed is payable for up to 60 monthly amortizations or five (5) years.
UnionBank has not stated the range of minimum and maximum loanable amounts but it has set clear on who may qualify for the loan offer. It is open not only for Filipinos but as well as foreign nationals married to Filipinos who are at least 21 years old upon upon the loan application.
Also, the loan applicant must not be more than 65 years old upon the time of the loan maturity. The loan offer is also open for partnerships and corporations.
With regards to the UnionBank Auto Loan interest rates, it depends on the loan term you have chosen as well as whether or not the payment is standard or with one-month advance.
Here are the UnionBank Auto Loan interest rates based on the loan term:
| TERM (in months) | STANDARD | w/ One Month Advance (OMA) |
| 12 | 6.56% | 5.68% |
| 18 | 9.19% | 8.29% |
| 24 | 12.14% | 11.19% |
| 36 | 18.18% | 17.16% |
| 48 | 24.72% | 23.61% |
| 60 | 31.76% | 30.57% |
In applying for the loan offer, there are requirements for UnionBank Auto Loan application that you must prepare and submit to the bank. The list varies if you are locally-employed, self-employed, or a corporation.