Product Review of UCPB Car Loan
Public Notice – Disclaimer:We currently do not partner with UCPB and details about UCPB herein are solely for information purposes only. For other loan provider alternatives, check out below. For partnership concerns,click here.
If you are looking specifically for UCPB Car Loan, please visit their website atwww.ucpb.comor contact them at +632) 811-9111. Thank you.
Founded in 1963, United Coconut Planters Bank (UCPB) is the Philippines’ first private bank to attain a universal status. The bank attained its expanded commercial banking status in 1981 and has continued creating financial products and services suited to the Filipino people’s needs even to this day.UCBP car loan is one of its most coveted loan solutions, considering its low rate and flexi-terms.
UCPB Car Loan comes in three types: 1) new car purchase, 2) second-hand car purchase and 3) multi-purpose wherein an existing car is used as collateral.
Eligibility Criteria Requirements
UCPB opens this offering to applicants who are:
- Regularly employed with a monthly gross income of at least PHP 30,000 orself-employed running a profitable business for at least 3 years
- A Filipino citizen, be it natural or legalized
- At least 21 years old but must not be over 70 years old when the loan matures
The bank may impose additional qualifying standards depending on the loan amount and type of credit the applicant wants to get.
Those who’re eligible to get a loan should prepare these documents – these will be submitted upon application for processing and evaluation:
- Duly filled out loan application form
- Valid, preferably government-issued IDs
- Photocopy of your latest ITR statement
- Photocopy of the latest payslip and original copy of Certificate of Employment for employed applicants
- Photocopies of Audited Financial Statement, Bank Statement for the last 3 consecutive months and SEC or DTI registration for self-employed, business owners
- Proof of Residence
Apart from these, it might help to present additional documents – such as credit history and collateral papers – to further establish your borrower identity. This will ensure fast processing and approval for your application.
UCPB’s auto loan boasts of the following features and perks:
|Loan Tenure||1 to 5 years for brand new cars|
1 to 3 years for refinanced or second-hand vehicles
|Loanable Amount||PHP 100,000 minimum|
|Down Payment||20% of the loaned amount|
|Payment Methods||Auto Debit Arrangement (applicants may be required to get a UCPB account)|
When it comes to taking a car loan, applicants need to be vigilant about the car’s purchase price and tenure because these aspects will affect the interest rate, either in a good or bad way. For instance, negotiating on the purchase price and shortening the loan maturity can lower the interest rate while doing otherwise may cause you to pay more on the rates.
For more information contact the UCPB Branch nearest you or call +632) 811-9111. You can also visit their website at www.ucpb.com.
Getting Expert Help at Loansolutions PH
In whatever financial decision you’re about to make, it’s always a wise move to consult an expert. So prior to getting a loan, for instance, make sure to contact one of ourLoansolutions.ph consultants to help you identify the best loan type and tenure to suit your budget. Once you’ve figured out exactly what you want, start your application using our3-Step Loan Application process. Just keep track of your approval status via ourLoan Status Checker tool available on-site.