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You can use Car4Cash to fund your immediate expenses via Zuki Mobile App
Flexible loan amounts from ₱100,000 to ₱2,000,000.
Loan tenors from 12 to 36 months.
Loan using your car's OR/CR.
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Per DTI Fair Trade Permit No. FTEB-153835 Series of 2022
|Min. Financing Amount||₱100,000.00|
|Max. Financing Amount||₱2,000,000.00|
|Min. Loan Tenure||12 months|
|Max. Loan Tenure||36 months|
|Interest Rate||As low as 1.25% per month (depending on age of car and loan term)|
|Approval Duration||5-7 banking days|
|One time set up|
|Processing Fee||3% of loaned amount|
|Stamp Duty||₱1.50 for every ₱200.00 (for loans of at least ₱250,000 only)|
|Disbursement & misc. fee||None|
|Other Fees||₱200 Notarial Fee, ₱2,500 Pre-Termination Process Fee (when applicable)|
|Late Payment Charges||3% of the amount due or ₱500, whichever is higher|
|Age requirement||Age 21 - 65|
|Employment eligibility||If Employed: At least ₱15,000.00 monthly income (within Metro Manila) and ₱12,000.00 (outside Metro Manila). If Self-employed: At least ₱60,000 gross monthly income.|
|Min. salary requirement||₱12,000 gross per month|
|Guarantor / Collateral requirement||OR/CR|
|Need to open linked bank account?||No|
|Other details||Car4Cash can be offered to both employed and self-employed individuals (aged 21-65 years old) who presently own a car for at least six months.|
Genuine ideas are always a welcome sight nowadays especially in the financial services industry. As one of the leading universal banks in the country, Security Bank has been providing decades-long assistance to consumers in need of financial products. Leading the way through innovation, Security Bank is geared towards continuous improvement to offer better banking experience to their clientele.
With their recent partnership in 2020 with Thailand’s Bank of Ayudha or most commonly known as “Krungsri”, it now positions Security Bank’s subsidiary SB Finance as an emerging digital platform, offering a strong portfolio of financial services in the Philippine market.
With this development, Security Bank now introduces their latest financial product, the Car4Cash loan. This personal loan allows you to borrow additional cash with the use of your car’s official receipt or certificate of registration (OR/CR). The good thing about this is you can still keep using your car while you submit your OR/CR to SB Finance for safekeeping. The application process is fast and convenient. You simply need to complete and submit the application form and the required documents, wait for the appraisal of your vehicle, then get notified of the approval via SMS and email. After which you just need to sign the loan documents and receive the cash disbursement through Manager’s Check (MC) or credit to your account. The approval turnaround time is from 5 to 7 banking days. You can borrow starting from ₱100,000 up to ₱2,000,000 with competitive interest rates ranging from 1.25% - 2.5% depending on the age of your car and loan term. The processing fee is 3% of the loanable amount and you can pay with flexible terms starting from 1 up to 3 years. The mode of loan payment is via Post-Dated Checks (PDCs).
Their loan interest ranges from 3.315% to 4.563% per month with flexible payment terms and a long repayment period starting from 6 months. The best part is, the low minimum monthly income requirement which is only ₱7,000. On top of that, you don’t need any collateral or credit cards. For repeat borrowers, no requirements will be needed.
Advantages Of Applying With Security Bank Car4Cash Loan:
Current car owners with an urgent need for additional funds will now have a viable solution with SB Finance Car4Cash loan. If you are interested, go through the product details below for more info.
This is a secured loan which uses your car’s official receipt or certificate of registration (OR/CR) as collateral.
Prepare your car's OR/CR and apply through our apply form
With a Security Bank Car4Cash Loan, you can borrow ₱100,000 to ₱2,000,000, subject to approval.
Applicant must meet Security Bank’s eligibility criteria to qualify for the loan:
After filling out an application form, the following documents should be submitted:
*Additional documents may be required during credit evaluation.
The Security Bank Car4Cash Loan calculator computes the estimated cost of borrowing and the amount of payment per installment. You just need to input the desired loan amount to automatically get the estimated monthly amortization for different tenors.
They require borrowers to pay their loan via post-dated checks (PDC) only.
First of all, the screening process will be less painstaking, you only need to present your car's OR/CR and some identification documents. Secondly, the loan amount is higher than the average personal loan because the amount will be based on the current market value of your car.
Car owners who have the car for at least 6 months can apply for this loan.
This loan specifically caters to existing car owners. The SB Finance Car4Cash loan is perfect for those looking to borrow additional funds without having to give up their vehicle. The only collateral you need to give is your car’s official receipt or certificate of registration (OR/CR) for the bank’s safekeeping.
The application process is quick and easy while the approval period is only 5 to 7 business days, perfect for urgent financial needs. With competitive interest rates and long payment tenure, repayment will be easy on your cash flow.
BPI Personal Loan lets you borrow ₱20,000 to ₱1,000,000 with an interest rate of 14.4% per annum and the add-on rate is 1.2% per month. The loan approval process is 8-13 banking days and loan tenure is 1 to 3 years, with payment processed via auto-debit through your BPI account. To be eligible for this loan, you must have a minimum monthly income of ₱25,000.
If you are looking for immediate financial assistance, Citi Personal Loan offers 24 hours loan approval. It boasts one of the longest loan tenures in the market, up to 5 years term. You can borrow up to ₱2,000,000 with 15.16% - 16.5% annual interest rate. To qualify for this loan, you must at least earn ₱21,000 gross monthly income and a current credit card holder of at least 6 months.
EastWest Bank has been a reliable financial service provider for almost three decades now and their personal loan is less demanding with the income requirement and 7 days approval only.. You only need to have a gross monthly income requirement of just ₱15,000, and you can borrow ₱25,000 up to ₱2,000,000 with an annual interest rate of 22.68% and an add-on rate of 1.49% per month. Their loans are payable within 3 years.
Having multiple providers in the market gives consumers more options to find products that match best with their needs, lifestyle, and cashflow. Browse our list of providers offering fast approval personal loans and choose one that fits your qualifications.