Drive Your Dream Car ASAP with a Bank of Commerce Car Loan
Also known as BankCom, Bank of Commerce is one of the Philippines’ progressive banks headquartered in Mandaluyong and has at least 125 branches nationwide. It’s been running since 1963 and over the years it has forged partnership with some of the country’s leading private organizations, especially with the investment of San Miguel Group in 2008. The Bank now offers some of the most sough-after financial solutions. For instance, its home loan is perfect for newly married couples looking to buy or build a home. Paired with a Bank of Commerce car loan, couples will surely have a more convenient way to travel and a comfortable place to live.
Do you qualify for a Bank of Commerce Car Loan?
Anyone who is within the ages 21 to 70 years old and is earning at least PHP 10K as a regular employee is qualified to get a loan. Individuals who’re operating a lucrative business for at least 3 years may also apply. Applicants just need to present their Proof of Income documents (e.g., latest payslips, supplier list, client list, cash flow statement) to get started.
What makes the product so attractive?
Bank of Commerce boasts of its excellent customer support and process automation. Qualified borrowers can get funding for at least PHP 100,000 and can pay this within 12 to 60 months. Besides, the interest rate is negotiable depending on the term chosen by the lender and his or her capacity to pay. With the bank’s wide reach, paying the monthly amortization is guaranteed to be a convenient, borrower-friendly process.
What are the documents to pass upon application?
Bring along these generic documents to the Bank of Commerce branch nearest you:
- Duly filled out car loan application form
- Photocopy of Valid IDs (e.g., SSS ID, Company ID, Driver’s License, Postal ID)
- Latest monthly billing statement (e.g., utilities, telecom)
- Quotation of the vehicle you’re planning to buy
- Photocopy of your 6 months’ worth of bank statements or deposit passbook
Self-employed applicants need to present photocopies of their business registration documents, ITR with the latest bank stamp and an Audited Financial Statements. Employed individuals must present their ITR with bank stamp and Certificate of Employment showing their salary, tenure and position. Corporate applicants must submit their business registration documents with DTI or SEC, whichever is applicable. Audited Financial Statement, ITR and Board Resolution or Secretary’s Certification are also needed.
What are other options available to you as a borrower?
Bank of Commerce car loan is one of the best products on the market today. But if you’re still open for more options, feel free to contact our financial consultants here atLoansolutions PH. We can help you compare prices and get a loan via our3-Step Application process. Once your application is in, just use ourLoan Status Checker tool to follow up its status.