Guide on UnionBank Car Loan Application Process & Requirements
UNIONBANK CAR LOAN – Here is a guide on how to apply for this loan offer of UnionBank Philippines and the requirements for application.
The UnionBank is one of the banks in the Philippines that you can turn to if you are looking for an auto loan offer. You may apply for a loan to finance the purpose of vehicle acquisition – whether the target vehicle is brand new or secondhand.
Under the UnionBank Car Loan offer, you can repay the amount borrowed from 12 months up to 60 months. The interest rate depends if it is a standard rate or there is a one-month advance.
Steps in Applying for UnionBank Car Loan Offer
Step 1 – Check the qualifications. There are eligibility requirements set by UnionBank in applying for the loan offer. To qualify for this UnionBank offer, the loan applicant must be:
- at least 21 years old upon the loan application but not more than 65 years old upon the loan maturity
- a Filipino or a foreign national married to a Filipino; a corporation; a partnership
Step 2 – Prepare the requirements. Aside from the eligibility requirements, there are documentary requirements in applying for the loan offer. It would depend if you are employed or self-employed. You can refer to the list below:
- duly-accomplished UnionBank Loan Application Form
- two (2) valid Government issued IDs with signatureProof of billing address
- proof of billing address
- proof of income
- If employed:
- COE -Certificate of employment with compensation
- (3) months’ payslip
- Latest Income Tax Return (ITR)* -ITR is not required for loan amounts below P3,000,000
- If self-employed:
- Business Registration papers (DTI, SEC if applicable)
- ITR with audited financial statements (2 years)
- Trade references
- If employed:
Step 3 – Go to UnionBank. Head to a branch of UnionBank nearest to your residence or workplace and submit your documents.
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