Lists of RCBC Auto Loan Requirements for Application Process
RCBC AUTO LOAN REQUIREMENTS – Here are the documents required in applying for the Auto Loan offer of Rizal Commercial Banking Corporation.
Nowadays, you can achieve your target car even without having to save for a one-time cash payment. One of the ways is through applying for a car loan that can finance the purchase of your vehicle.
In the Philippines, one of the banks that you may turn to is Rizal Commercial Banking Corporation or more popularly called RCBC. It has several branches across the nations thus its offers are really accessible.
Among the offers of the bank are loans. Aside from the RCBC Personal Loan and the RCBC Home Loan, the bank also offers an Auto Loan. It can finance the purchase of both brand new and pre-owned vehicles.
Under the Auto Loan offer, the bank requires only 20% of the selling price as the downpayment for the purchase. The loan is payable for up to five (5) years or 60 monthly installments.
With regards to the RCBC Auto Loan requirements for application, the lists include both eligibility and documentary requirements for application. To qualify, here are the eligibility criteria set by the bank:
For Locally-Employed Individuals
- Filipino Citizen or Dual Citizen
- at least 21 years old upon loan application
- at most 65 years old upon loan maturity
- must have a mobile number and a residence or office landline
- with a minimum employment tenure of 1 year and minimum gross monthly income of Php40,000
For Self-Employed Individuals
- Filipino Citizen or Dual Citizen
- at least 21 years old upon loan application
- at most 70 years old upon loan maturity
- must have a mobile number and a residence or office landline
- business must be in profitable operations for the past 2 years
There are also different sets of documentary requirements for RCBC Auto Loan offer application process. For locally-employed individuals, here are the documents required by the bank in applying for the loan offer:
- duly-accomplished RCBC Auto Loan Application Form
- Certificate of Employment (COE) or latest Income Tax Return (ITR)
- Taxpayer Identification Number or TIN
- two (2) valid government-issued IDs
- utility bill
The loan offer is also open for self-employed individuals. Here are the documents that must be submitted to RCBC in applying for the loan offer:
- duly-accomplished RCBC Auto Loan Application Form
- Business registration with DTI
- Audited financial statements
- ITR or bank statements