Commonwealth Bank has offices in Asia, Europe, New Zealand and North America offering a range of financial services.We’re Australia’s leading provider of integrated financial services, including retail, premium, business and institutional banking, funds management, superannuation, insurance, investment and share-broking products and services.Visit site
|Min. financing amount||₱ 4000|
|Max.financing amount||₱ 5000000|
|Min. loan tenure||3 months|
|Max. loan tenure||360 months|
Refinancing an existing car loan
Fixed interest rates: 6.99% p.a. for a 5 year loan
Comparison rate from 9.99% p.a. based on an unsecured 30 000 USD loan over 5 years
Car requirements: Buy a new car or one that’s less than 5 years old
Minimum loan amount: 10 000 USD
Maximum loan amount: 50 000 USD
Maximum car age: 7 years
Payment terms: 1-7 years
Approval time: 1 hour
The longest loan period is 30 years.Send an application
Since this type of loan is associated with large amounts of money and a large volume of documents, the term for making a decision by the Bank depends on two stages of verification. First, the Bank will check your solvency, this stage takes no more than 5 working days on average. Then the Bank will need to check the documents for the land or property you are buying, as well as make an assessment of it.Send an application
There is no single solution. If you need the lowest monthly payment, then take loan for the maximum possible period. If you are not sure that you will have a consistently high income, then take as little time as possible.Send an application
The minimum down payment for a new car is 20% of purchase price.Send an application
Payment terms – up to 7 years.Send an application
No, the car is your property from the moment of purchase, but remains the bank’s guarantee for the loan period. This means that you cannot sell the car, and you also have to pay for car insurance so that the bank can receive its money in any case.Send an application
Documents confirming income and identification are the main requirements for obtaining a car loan.
Application form with filled in fields.
Copy of Passport or any ID ( SSS ID, Driver’s License, Voter’s ID)
Working borrowers must submit documents: certificates from the place of work or COE, a copy of payslip for 2 months, income tax return from BIR or ITR within 1 year.
Self-employed applicants must submit documents: a copy of the ITR with THE bir stamp , a copy of registration with the DTI or SEC, and a copy of financial statements for a period of at least 2 years .
After buying a car, you need to pay for insurance.
Yes, if your car is not older than 5 years oldSend an application
Initial registration is usually done by agents, so you get a copy of OR / CR. You must remember that the initial registration is valid for 3 years, so after that you need to renew it annually in LTO.Send an application
|Full company name||CommonWealth Bank|
|Address||Fedman Suites, Salcedo, Makati, 1200 Metro Manila, Philippines|
|Phone number||+61 2 9999 3283; +63 2 892 8990|
Commonwealth Bank has offices in Asia, Europe, New Zealand and North America offering a range of financial services.We’re Australia’s leading provider of integrated financial services, including retail, premium, business and institutional banking, funds management, superannuation, insurance, investment and share-broking products and services.