Guide on PNB Car Loan Offer – How Much You May Borrow
PNB CAR LOAN – Here are the minimum and maximum loanable amounts under the auto loan offer of the Philippine National Bank.
The Philippine National Bank (PNB) is one of the banking entities that you may turn for the financing of a vehicle purchase. Its loan offer is open for both brand new and pre-owned vehicles provided that you qualify to the eligibility criteria set and submit the required documents for application.
How much you may borrow under the PNB Car Loan offer? Here are the minimum and maximum loanable amounts under it:
- Minimum Loanable Amount: Php 300,000
- Maximum Loanable Amount: Up to 80% of the cash list or purchase price
The bank has set the qualifications and the documentary requirements in applying for its loan offer. To qualify, the borrower must be:
- a Filipino citizen or foreigner based in the Philippines
- at least 21 years old upon the loan application and not more than 65 years old upon the end of the loan term
- having a stable source of income
- having a proof of income:
- If employed, the borrower must be employed for at least a year already.
- If self-employed, the borrower must be operating a business for at least three (3) years already.
With regards to the specific documents needed for the loan application, the lists vary depending if you are employed or self-employed. You should submit the following requirements to PNB:
If employed:
- duly-accomplished and signed PNB Auto Loan Application Form
- two (2) government-issued valid IDs (Drivers License, Passport, UMID, PhilSys ID/digital ID/printed ePhilID, etc.)
- proof of income:
- Certificate of Employment with Compensation or Payslip
- Latest Income Tax Return (ITR)
If self-employed:
- duly-accomplished and signed PNB Auto Loan Application Form
- two (2) government-issued valid IDs (Drivers License, Passport, UMID, PhilSys ID/digital ID/printed ePhilID, etc.)
- proof of income:
- Business papers with DTI Registration
- Latest Income Tax Return
- Latest Audited Financial Statements
- Latest (6) six-months Bank Statements
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