CommonWealth Bank in the Philippines

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.

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CommonWealth Bank https://upfinance.com/app/uploads/2019/12/commonwealthbankav-d9dd2b65df-1200x300-80-266925dfed88d03688f9433388e2d015.gif
Fedman Suites, Salcedo, Makati, 1200 Metro Manila, Philippines
+61 2 9999 3283; +63 2 892 8990, contactessentialsuper@cba.com.au
Interest rate 0.29% - 1.15%
Loan tenure from 3 to 360 months
Approval duration Up to 24 hours
Min. monthly income

Product Features

Min. financing amount ₱ 4000
Max.financing amount ₱ 5000000
Min. loan tenure 3 months
Max. loan tenure 360 months

Credit

Rates for loans in US dollars!

Home loan

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Fixed interest rates:  1 year – 3,44% APR; 4-5 years 3,64% APR
Minimum loan amount: 150 000 USD
Maximum loan amount: Up to 70% of assessed value
Payment terms: Up to 30 years
Approval time: 5 banking days

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Car loan

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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

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Variable Rate Personal Loan

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Interest Rates: 
Fixed Rate – 11,50% p.a.
Comparison rate – 12.38% p.a.
Representative rate – 13.50% p.a.
Minimum loan amount: 4 000 USD
Maximum loan amount: 50 000 USD
Payment terms: 1-7 years
Approval time: 1 banking day

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Loan Calculator

%
Monthly payment
₱ 888.49
Total overpayment
₱ 661.85
Total
₱ 10661.85

FAQ

The longest loan period is 30 years.

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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.

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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.

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The minimum down payment for a new car is 20% of purchase price.

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Payment terms – up to 7 years.

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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.

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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.

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Yes, if your car is not older than 5 years old

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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.

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Contacts

Full company name CommonWealth Bank
Address Fedman Suites, Salcedo, Makati, 1200 Metro Manila, Philippines
Phone number +61 2 9999 3283; +63 2 892 8990
E-mail contactessentialsuper@cba.com.au
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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.

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