Guide on the Requirements for SB Finance Car Loan Offer Application
REQUIREMENTS FOR SB FINANCE CAR LOAN – Here are the documents needed in applying for the SB Finance Car4Cash loan offer.
One of the online lenders in the Philippines is SB Finance, a Security Bank and Krungsri partnership. It offers multiple loans including the Car Loan offer called the Car4Cash. Under it, you can use your vehicle as the collateral in obtaining money.
One of the best features of the Car4Cash is that the lender does not take away your vehicle during the entire loan term. It will only the original copies of your car’s Official Receipt (OR) and Certificate of Registration (CR). The offer is ready to cover vehicles up to 12 years. It is one of the offers of the lenders apart from the SB Finance MotorsikLOAN and the other loans.
The Car4Cash loan offer is open for both employed and self-employed vehicle owners. If you are employed, here are the eligibility requirements that you must meet to qualify for the loan application:
- at least 21 years old at the time of application but not more than 65 years old upon loan maturity
- a Filipino Citizen
- has an office or residence landline
- stable income
- For Metro Manila: PhP15,000
- For outside Metro Manila: PhP12,000
If you are self-employed, there is a different set of eligibility requirements for SB Finance Car Loan qualification for application. You must meet the following eligibility criteria:
- at least 21 years old at the time of application but not more than 65 years old upon loan maturity
- a Filipino Citizen
- has an office or residence landline
- owner or a majority owner with at least 40% stake
- business has been operating profitably for at least 2 years
- at least 1 trade reference
- minimum gross monthly income of PhP60,000
There are documents that you must prepare in applying for the SB Finance loan offer. You must have them in scanned copies as it will be an online application. Prepare the following documentary requirements for SB Finance Car Loan offer:
- one (1) valid government-issued photo-bearing ID
- photo of OR/CR
- proof of income
- If employed:
- Latest Certificate of Employment and Compensation issued within last two (2) months
- Photocopy of latest Income Tax Return (ITR)/BIR Form No. 2316
- Latest one (1) month payslip issued within the last month
- If self-employed:
- Latest one (1) year Audited Financial Statements (AFS) with at least the previous year’s comparative financials or;
- Latest three (3) months bank statements
- SEC/DTI Certificate of Registration
- Business permit/Mayor’s permit
- Latest GIS (if corporation)
- List of three (3) trade references (at least 1 supplier and 1 customer) with contact details
- If employed:
You can apply for the SB Finance loan offer by downloading the Zuki app online. You can get from Google Play or the App Store.