|
|  | | |
| Product Features
|
|
| | | |
| 1.
| Qualified Applicants
|
|
| | | |
| a.
| Individual
|
|
| | | |
|
| | •
| Filipino, of legal age but not more than 65 years old upon maturity of the loan.
|
|
| | •
| Foreign nationals married to Filipinos
|
|
| | | |
|
| b.
| Corporation / Partnership
|
|
| | |
| 2.
| Purpose
|
|
| | |
|
| Unit is for personal/business use of applicant.
Not an accommodation.
|
|
| | | |
| 3.
| Collateral
|
|
| | | |
|
| a.
| Locally distributed brand new Cars, AUV, Van, Pick Up, SUV and Trucks.
|
| b.
| Second Hand units *(not more than 5 years old ).
|
|
| c.
| Brand new imported vehicles*.
|
|
| | | |
| * subject to appraisal and car history
|
|
| | | |
| 4.
| Loan Amount
|
|
| | | |
| Minimum of P100K.
|
|
| | | |
| 5.
| Downpayment
|
|
| | | |
| Brand New - Minimum of 15%
|
| Second Hand - depends on year model (subject to set limits)
|
|
| | | |
| 6.
| Loan Term
|
|
| | | |
| Brand New - 12 to 72 months
|
| Second Hand - 12 to 48 months (subject to set limits)
|
|
| | | |
| 7.
| Interest rates
|
|
| | | |
| Refer to published add-on rates or call your Account Officer.
|
|
| | | |
| 8.
| Processing period
|
|
| | | |
| Credit results within 24 hours.
|
|
| | | |
| 9.
| Payment option
|
|
| | | |
| a.
| Online Debit Arrangement
|
| b.
| Check-Free Payment (through Express Phone, Express Teller, Express Bills Payment, Express Online)
|
| c.
| Over the Counter
|
|
| | | |
| 10.
| EC PAY option for Comprehensive Insurance
|
|
| | | |
| •
| Insurance premium is built-in to the monthly amortization of the loan.
|
| •
| Automatic renewal of insurance policy every year.
|
| •
| No initial cash out for insurance
|
| •
| Certificate of cover not included
|
|
| | | |
| 11.
| Car history
|
|
| | | |
| A process of tracing the sequence of ownership or the transfer thereof from time the unit was bought to its present owner.
|
|
| | | |
| 12.
| Appraisal
|
|
| | | |
| A process by which the fair market value is determined through physical inspection of the unit.
|
|
| | | |
| An appraisal fee is charged and the client must bring the car and
photocopies of the vehicle's LTO OR and Certificate of Registration (CR).
|
|
| | | |