Guide on Maybank Auto Loan 2024 Application Process
MAYBANK AUTO LOAN 2024 – You can check here the features of the car loan offers of Maybank Philippines and the steps on how to apply.
Are you looking for a bank that can help finance your car purchase? One of the reputable entities that you may turn to in the Philippines is Maybank. It has helped countless Filipinos in several ways through its excellent finance products and services.
Maybank has several types of bank accounts, loan offers, investment products, and a lot more. When it comes to its loan offers, aside from the Maybank Cash Loan offer, another loan that you may avail at the bank is the Maybank Auto Loan offer. This 2024, it remains open to finance a car purchase whether the vehicle involved is a brand new or pre-owned car.
In fact, under the Maybank loan offer, you may apply for the financing of a truck purchase or the refinancing of an exising loan. The loan is payable for up to five (5) years for brand new cars and up to four (4) years for secondhand vehicles.
The bank has not stated the loanable amounts for the car purchase but in the case of financing a truck acquisition, it can finance up to 70% of the appraised value of the vehicle. The loan is payable for up to 36 months if the vehicle involved is a truck which can be “from 4-wheelers to 10-wheelers, brand new, reconditioned or surplus trucks”.
How to apply for the Maybank Auto Loan 2024? The first step that you must secure is your eligibility to apply for the loan offer. The loan is open for both employed and self-employed individuals.
Employed
- Must be a Filipino citizen
- Between 18 and 65 years old
- No adverse records
- Owner of a residence
- Permanently employed for at least 2 years
Self-Employed
- Must be a Filipino citizen
- Between 18 and 65 years old
- No adverse records
- Owner of a residence
- Business in operation for at least 3 years
In the case of acquiring a truck for business use and applying for the Maybank loan for refinancing so you can use the value of your vehicle, the loan applicant must have no adverse records and the business must be in operation for at least 3 years already.
To apply for the loan offer, you need to prepare the requirements for the Maybank Auto Loan application and submit them to the bank. Your loan may be approved in as fast as 24 hours. All loan applications are subject to the approval of the bank.
