Guide on the SB Finance Motorcycle Loan Interest Rate based on Vehicle Type
SB FINANCE MOTORCYCLE LOAN INTEREST RATE – Here is a guide on the interest rate under the MotorsikLOAN offer of SB Finance.
Are you planning to get a motorcycle soon but you want to do it under monthly installments? You may turn to SB Finance, a financial firm partnership of the Security Bank and Krungsri.
The SB Finance MotorsikLOAN covers regular, medium, and high-end motorcycles. Furthermore, it accepts the financing of both brand new and pre-owned motorcycles and is open for both employed and self-employed individuals.
The lender is partnered with several motorcycle companies thus you have a wide range of choices. It is in a partnership with EMCOR, Motocentral, Star Honda, BikeWorld, BLIP Motors, and Motorcycle City among others.
With regards to the allowed borrowing amounts under the offer, the SB Finance has only set a maximum loanable amount under the MotorsikLOAN and no minimum loanable amount. On the SB Finance motorcycle loan interest rate, it depends on the type of vehicle you want the lender to finance.
- Regular Motorcycles — 2.47%
- Medium Motorcycles — 1.2%
- High-End Motorcycles — 1.2%
In applying for the SB Finance loan offer, there are documents that you need to prepare. The requirements actually vary depending if the applicant is employed; self-employed; an overseas Filipino worker or an OFW beneficiary; a public vehicle driver, owner or operator; or a member of the agricultural sector like farmers and agri land owners.
If you are employed, prepare the following documents:
- Photocopy of one (1) valid government-issued photo-bearing ID
- For non-Filipino citizens: Alien Certificate of Registration
- Proof of income (any of the following)
- One (1) month latest payslip
- Bank statement (last three (3) months) or passbook
- Certificate of Employment (COE)
If you are self-employed, prepare the following documents:
- Photocopy of one (1) valid government-issued photo-bearing ID
- For non-Filipino citizens: Alien Certificate of Registration
- Proof of income:
- If business is registered, prepare…
- Latest one (1) year Financial Statements (unaudited or audited), OR
- Latest three (3) months bank statements or passbook
- SEC / DTI Certificate of Registration, OR
- Business Permit / Mayor’s Permit, AND
- Latest GIS (if corporation)
- If non-registered business, prepare…
- Latest three (3) months bank statements
- Other documents as proof of income at least 1 month e.g. sales invoice, trade receipts, e-wallet transaction history
- Barangay Business Permit
- If business is registered, prepare…
If you are an OFW applicant, prepare the following documents:
- Photocopy of one (1) valid government-issued photo-bearing ID
- Proof of income (any of the following)
- 1 month latest allotment or remittance slips
- Bank statement (last 3 months) or passbook
- Certificate of employment from foreign employer
- Employment contract (OFW)
If you are a jeepney or tricycle driver, owner, or operator, prepare the following documents:
- OR/CR of the vehicle under the borrower’s name,
- Deed of Sale in favor of the applicant
- Proof of vehicle operation
- Copy of Franchise
- Association membership Certification
- Tricycle / Jeepney Operators and Drivers Association ID
If you are a farmer or an agricultural land owner, prepare the following documents:
- Barangay Certification or BARC (Barangay Agrarian Reform and Council) Certification or;
- Copy of the Land Title
- Trading Documents / Irrigation Receipts
For the online application to the SB Finance loan offer, download the app online first so you can register and begin the loan application process. You can get from Google Play or the App Store.
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