Car & Truck Loan
| Car & Truck Loan Details | |
|---|---|
| Loan Amount | Amount financed (Suggested retail price minus down payment) |
| Interest Rate |
Car: 0.82% per month (Diminishing) Truck: 1.5% per month (Diminishing) |
| Terms | Maximum of 60 months (5 years) |
| Share Capital Requirements | None, but adding share capital is encouraged, especially for the first loan |
| Collateral to be Submitted | OR/CR |
| Collateral Subject to Forfeiture / Foreclosure / Repossess Once Default in Payment | Unit, OR/CR, and key |
| Processing Time | Depends on the completion of requirements and approval |
| Eligibility / Qualifications | At least ₱1,700 in share capital |
| Insurable Age | Up to 65 years old |
| Cash Out | 20% Cash out - All in |