Guide on RCBC Auto Loan Requirements 2024 for Application
RCBC AUTO LOAN REQUIREMENTS 2024 – Here are the lists of the required documents for the Rizal Commercial Banking Corp. loan application.
In the Philippines, banks are among the entities that you may turn to for a car loan. One of the car loan providers in the country is Rizal Commercial Banking Corporation or more popularly called RCBC. It is one of the banking entities that is in the service of the Filipino people for decades already.
The Rizal Commercial Banking Corporation has several loan offers. Aside from the RCBC Personal Cash Loan and the RCBC Home Loan offers, there is also the RCBC Auto Loan. The offer is designed to finance the purchase of brand new and pre-owned cars.
Under the offer, the loan is payable for up to 60 months or five (5) years. Actually, the loan offer is not only open for car financing but as well as the financing of a motorcycle purchase. The bank requires a downpayment of as low as 20% of the total selling price of the vehicle.
For example, the price of the car is Php 500,000.00, the minimum downpayment that may be required by the bank is Php 100,000.00. To apply for the offer, there are RCBC Auto Loan requirements that you need to prepare and submit to the bank.
For locally-employed individuals who want to apply for the loan offer, here are the documents that you need to prepare and submit to the bank for application:
- duly-accomplished RCBC Auto Loan Application Form
- Certificate of Employment (COE) or latest Income Tax Return (ITR)
- two (2) valid government-issued IDs
- Tax Identification Number (TIN)
- Utility Bill
There is a separate list of the RCBC Auto Loan requirements for application set for self-employed individuals who wish to apply for the offer. Here are the documents required by the bank to apply for the offer:
- duly-accomplished RCBC Auto Loan Application Form
- Business registration with Department of Trade and Industry (DTI)
- Audited Financial Statements (AFS)
- ITR or bank statements