Car Mortgage Loan
Eligibility
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24 – 64 years old
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Filipino citizen
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With existing owned car unit
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The car year model is not more than 5 years
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Fully paid and not encumbered to any other financing
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Regular employee for at least 1 year
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If self-employed, business should be operating for 2 years
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Must be residing or working within Metro Manila for atleast 1 year
Pre-Requirements
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1 Government-issued ID
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Copy of OR/CR
Requirements
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2 Government-issued IDs
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For employed, Certificate of employment and latest 1 month payslip; or Company ID and latest 1 month payslip
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For employed, Latest ITR or BIR Form 2316
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For self-employed, Business permit, SEC or DTI
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For self-employed, Latest Income Tax Return or BIR form 1701 or Latest Annual Financial Statement
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Proof of billing/residency
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Clean OR/CR named under the borrower’s name
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Inspection report from the LTO
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Latest picture of the vehicle
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Bank statement, latest 3 months
Loan Details
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Php 300,000.00 - Php 3,000,000.00
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Interest: 1.5% - 2.5% per month
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Term: 6 months to 24 months
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Service Fee: Approximately 2% of the loan amount.
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Documentary Stamp Tax = 0.75% of loan principal
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Business Tax
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Appraisal Fee
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Annotation Fee
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Credit Investigation Fee
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Miscellaneous expenses
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Conditions
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Late penalty 3% per month
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Need to change the name of car insurance (from the borrower to Philippine Top Platinum Lending Corporation)
Application Process
