VEHICLE LOAN

BORROWER ELIGIBILITY 

The qualified loan applicant must be between twenty-one (21) and sixty (60) years of age with a combined monthly net income of at least P30,000.00. If the borrower is over 60 years of age the loan applicant needs EXECOM/BOD approval.

ELIGIBLE MOTOR VEHICLES/EQUIPMENT

This type of loan may be for the purchase of either a new or second-hand/used vehicle/equipment.

INTEREST RATE/COMPUTATION

Principal and interest amortized monthly/quarterly at the prevailing interest rate. In cases of variations of interest rates, the Bank shall issue an information memorandum with details of such variations.

FEES

◙ Appraisal Fee
◙ Notarial Fee
◙ Documentary stamp fees for promissory note
◙ Registration fee
◙ Comprehensive insurance
◙ Service charge

COLLATERAL

Machines and other properties of value as security against for feiture (e.g. brand new vehicles or second-hand vehicles, real estate, bank deposits).

SUPERVISION AND INSPECTION/APPRAISAL

The Bank shall conduct its own inspection and appraisal of the property to be used as loan collateral. A stringent credit investigation will also be performed by Bank personnel.

For more information, please call us:

Dumaguete Branch:
        Mobile: 09176326636
        Telephone: (035) 225-3891 local 123 and 125

Sibulan Branch:
         Mobile: 09173037334
         Telephone: (035)226-6127; 419-8730

Lapu-Lapu Branch:
         Mobile: 09175440562
         Telephone: (032) 495-3402

Valencia, Bukidnon Branch:
         Mobile: 09176326642
         Telephone: (088) 828-2097

Quezon, Bukidnon Branch:
         Mobile: 09176326646