Guide on BDO Auto Loan Requirements for Application
BDO AUTO LOAN REQUIREMENTS – Listed below are the qualifications in applying for the BDO Unibank loan and the documents you must submit.
Have you heard about the Auto Loan offer of BDO Unibank? Whether it is for personal or business use, it can finance your next vehicle acquisition. Have you already chosen which car model to get?
BDO Unibank wants to help as many people as it can achieve their dream car. Truth be told that a car purchase requires thousands or even millions of money and not everyone is ready to do it in cash.
Through the BDO Auto Loan offer, individuals who can or cannot afford to pay a vehicle purchase in cash, as long as the borrower is gainfully employed or self-employed, have an option to purchase a car under monthly installments.
It is one of the auto loan offers boasting with the least cash-out. The loan is open for both salaried and non-salaried individuals. There are varying BDO Auto Loan requirements for application depending on the borrower’s nature of source of income.
Are you interested to apply for the loan offer? Here are the qualifications set by BDO Unibank for eligibility to apply to the loan offer:
Locally-Employed Individuals
- at least 21 years old at the time of the loan application but not more than 70 years old upon the loan maturity
- Filipino citizen or foreign nationals
- earning a minimum gross family income of Php 50,000 per month or its equivalent in US Dollars
- at least 2 years with current company
Self-Employed Individuals
- at least 21 years old at the time of the loan application but not more than 70 years old upon the loan maturity
- Filipino citizen or foreign nationals
- earning a minimum gross family income of Php 50,000 per month or its equivalent in US Dollars
- at least 2 consecutive profitable years of operation
Employed Abroad
- at least 21 years old at the time of the loan application but not more than 70 years old upon the loan maturity
- Filipino citizen or foreign nationals
- earning a minimum gross family income of Php 50,000 per month or its equivalent in US Dollars
- 2-3 years consecutive employment. Assignment of Beneficiary as Loan Administrator if not in the Philippines at the time of application
Aside from the qualifications, there are also documents that must be submitted in applying for the loan offer. Here are the BDO Auto Loan requirements set by the bank in applying for the loan offer:
Locally-Employed Individuals
- duly-accomplished BDO Auto Loan Application Form
- photocopy of one (1) valid ID matching application details
- Latest Income Tax Return or BIR Form 2316 or latest payslip
- Certificate of Employment with Salary
- Additional for Foreigners, current employment contract
Self-Employed Individuals
- duly-accomplished BDO Auto Loan Application Form
- photocopy of one (1) valid ID matching application details
- Photocopy of Audited Financial Statements for the last 2 years with latest ITR
- Bank Statements or Photocopy of Passbook for the last 3 months
- Certificate of Business Registration
Employed Abroad
- duly-accomplished BDO Auto Loan Application Form
- photocopy of one (1) valid ID matching application details
- Alien Certificate of Registration with Work Permit
- Proof of Remittance for the last 3 months
- Latest Crew Contract, if sea based
- Consularized Certificate of Employment with Income (COEI) or latest three (3) months payslips
Aside from the BDO Unibank, another reputable banking entity that also offers an Auto Loan is Rizal Commercial Banking Corporation or more popularly called RCBC.
