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SB Finance auto loans for december 2022 in the Philippines

SB Finance
Get an auto loan at SB Finance. On 03.12.2022 there are 2 options are available to you. Increase your chances of getting a loan - fill out an online application with a free credit rating check.

Offers: 2

Updated:
18.10.2022
05:00
Car Loan
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱2,000,000
Term
i

Loan term for the financial product

60 months
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Get money you need online

Use our auto loan matching system with a free credit check!

Car4Cash
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱2,000,000
Rate
i

Effective interest rate on the product

1.25%
Term
i

Loan term for the financial product

up to 4 years

SB Finance auto loan calculator in the Philippines

The best auto loan calculator
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PHP
50000 ₱
5000000 ₱
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PHP
50000 ₱
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90
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120
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Auto loan application in the Philippines

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SB Finance auto loans for december 2022

SB Finance Corporation (SBF), the consumer finance arm of Security Bank and Bank of Ayudhya (Krungsri), offers a car loan and Car4Cash.

  1. Car4Cash. Car4Cash gives you access to cash by utilizing the Official Receipt (OR) and Certificate of Registration (CR) of your vehicle as security for cars up to ten years old. You can borrow up to ₱2 million with an interest rate of only 1.25% and repayment terms ranging from 12 to 48 months. After submitting your application, you must wait 5-7 days for it to be processed.
  2. Car loan. You may also apply for a car loan if you want to buy a new car. You can get up to 80% of the buying price and repay it over 12 to 60 months. You will require 20% of the purchase price as a down payment. You can also use a car loan to pay for or get a new automobile for a business, including auto rentals, Grab, taxis, UV Express, school services, company use, or employee services. Furthermore, the Car Loans include a complimentary one-year car insurance policy. Your vehicle must be privately owned and brand new to qualify for insurance. The loan amount must also be greater than ₱500,000 with a payback duration of more than 36 months. Then, you may enjoy driving your automobile with comprehensive insurance, which covers damage and repair costs as well as natural disasters. It does not, however, protect third-party liability. If the coverage is cancelled, you will pay the gross premium cost of the free one-year comprehensive insurance coverage through complete repayment of the loan.

How to apply for an SB Finance auto loan?

Through the SB Zuki mobile app, you can submit a personal loan application as follows:

  1. Log into the Zuki app and select Apply.
  2. Choose the required loan option.
  3. Click Confirm after reading the terms and conditions.
  4. Tap the Next button.
  5. Scan one valid ID with a photo and signature and take a selfie for verification.
  6. Complete an application form and check that all of the information is correct.
  7. Upload the necessary documents.
  8. Wait for a message indicating your application has been accepted.

Requirements for SB Finance auto loan

To be eligible for the Car4Cash, you must meet the same criteria as a personal loan. These include a copy of your car's OR/CR. You must be a Filipino citizen or resident with a landline at your office or residence. You must be at least 21 years old when you apply for the loan and not older than 65 when it matures.

Pros and cons

Car4Cash is a credit product that lets you borrow funds to cover expenditures or make purchases by using the OR/CR of your vehicle as collateral. However, while this credit facility allows you to access funds while driving your automobile, you must consider other variables, such as the interest rate you pay each month and any additional associated charges.

Pros

  • Your loan is deposited to your bank of choice via PesoNet or InstaPay.
  • You may not have a Security Bank account to be eligible for the Car4Cash.
  • You get to retain your car while you pay off your loan.

Cons

  • You must have owned a vehicle for at least six months.
  • You pay a processing fee of 3% of the loanable amount, as well as a notarial fee of ₱200 for loans over ₱ 100,00.
  • You are charged a late payment fee of 3% of the outstanding balance or ₱500, whichever is greater.
  • You are not qualified for the free first-year insurance comprehensive cover if you are a Security Bank Corporation employee and your spouse.

How to repay SB Finance auto loan?

You have several options for paying back your Car4Cash loan. You can utilize any over-the-counter or ATM during business hours and the Automatic Debit Arrangement from 9 AM to 9 PM. Additionally, you can make a repayment using Security Bank Mobile Banker and Security Bank Online. The following extra channels are also available to you:

  • Use pawn shops like RD and CVM between 8 AM and 5 PM if you wish to spend less than ₱50,000 for each transaction.
  • Use the kiosk machine in Gaisano malls or 7-Eleven to pay ₱10,000.
  • Use the CliQQ smartphone app to make payments for ₱50,000 each.

FAQ

Apart from the online application, is there another way I can apply for the SB Finance auto loan?

Yes, you can apply for a Car4Cash through the Zuki app, Security Bank branches, and certified sales representatives of SB Finance.  

Can I use the mobile app to make payments for my auto loans?

Only your online SB Finance account can be used to pay for a loan, not the Zuki app.

How do I qualify for an SB Finance auto loan?

To be eligible for a Car4Cash, you must be between the ages of 21 and 65, a Filipino citizen, or a resident with at least one government-issued ID. A copy of your vehicle's OR/CR is also required.

What is the maximum loan amount for an auto loan from SB Finance?

The maximum loan amount available from Car4Cash is ₱2 million.

What minimum amount can you borrow from the SB Finance auto loan?

The minimum loan amount available from Car4Cash is ₱100,000.