Guide on UnionBank Car Loan Features & Application
UNIONBANK CAR LOAN 2024 – The UnionBank Philippines is ready to help you achieve your dream vehicle whether it is brand new or secondhand.
Having your own vehicle brings a lot of convenience and benefits. It can be an emergency preparation as well as bring you so much convenience in getting to your daily destinations. Although a car purchase may require a huge amount, there are financing offers that you can turn to.
In the Philippines, one of the banks that you may turn to for an auto loan is the UnionBank. Under it, you may apply for the financing of both brand new and pre-owned vehicles. The UnionBank Car Loan offer is also open to finance the purchase of brand new light trucks.
Under the loan offer of UnionBank, the borrowing amount allowed by the bank is a case-to-case basis. The loan is payable from 12 months up to 60 months with varying interest rates. There are also differences among the interest rates for standard payments and for accounts with a one-month advance payment.
The client accepted rates may be confirmed upon the Customer Acceptance Form signing. Here are the interest rates set under the UnionBank Car Loan offer:
| 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% |
Who are qualified to apply for the UnionBank Auto Loan offer? There are only a few qualifications to be eligible to apply for the loan offer such as the following:
- age must be between 21 to 65 years old
- Filipino / foreign nationals married to a Filipino or business entities like corporations and partnerships
- must be 65 years old and below upon maturity of loan
With regards to the UnionBank Car Loan repayment, it can be through an Auto Debit Arrangement (ADA) for your convenience. It will automatically deduct the monthly due from your account thus there is a lesser chance of missing it and incurring penalties.
Are you interested to apply for the loan offer? You must submit the requirements for the UnionBank Car Loan application depending if you are applying as an individual or as a corporation.