BDO vs PSBank car loan 2026
By Aditya AmanPublished Sep 28, 2026Editorial PolicyLives in the Philippines and has driven nearly every Luzon expressway with his family.BDO and PSBank side by side: rates, down payment, requirements and how to apply, with a calculator for your car.
BDO vs PSBank: monthly payment for your car
Pick your car and down payment. Both banks are priced on the same loan, so the difference is real.
Example car, ₱1,250,000, 20% down, 60 months, brand new
₱21,494/mo
10.50% rate, ₱1,547,514 in all
PSBank quotes its rate when you apply.
BDO vs PSBank rates by term
Brand new car, ₱1,000,000 loan. The lower monthly payment at each term is marked.
| Pay over | BDO rate | BDO monthly | PSBank rate | PSBank monthly | Difference a month |
|---|---|---|---|---|---|
| 12 months | 7.50% | ₱86,757 | – | – | – |
| 18 months | 8.00% | ₱59,140 | – | – | – |
| 24 months | 9.25% | ₱45,800 | – | – | – |
| 36 months | 10.00% | ₱32,267 | – | – | – |
| 48 months | 10.25% | ₱25,483 | – | – | – |
| 60 months | 10.50% | ₱21,494 | – | – | – |
BDO: yearly rate on the balance. PSBank quotes its rate on application. Standard rates.
BDO vs PSBank, point by point
| Point | BDO | PSBank |
|---|---|---|
| Interest rate, brand new | 7.50% to 10.50% a year | Given with PSBank's quote |
| Monthly on ₱1,000,000, 60 months | ₱21,494 | Given with PSBank's quote |
| Down payment | From 20% | At least 20% of the selling price |
| Loan term | Up to 5 years for personal use, 3 years for business use | 12 to 60 months |
| Loan amount | Minimum loan: ₱100,000 | Minimum loan: ₱100,000 for brand-new cars; ₱300,000 for second-hand units (the bank's pages differ: ₱300,000 for all elsewhere) |
| Second-hand cars | Yes, with its own rates | Yes |
| Minimum income | ₱50,000 a month (family) | PSBank decides case by case |
| Decision | Within 24 hours | Credit decision by SMS in as fast as 24 hours |
| Fees | DST ₱1.50 per ₱200; LTO encumbrance ₱380; notarial ₱500 a document | Chattel mortgage, insurance, Registry of Deeds and LTO encumbrance fees at booking; loan certification ₱100 |
| Late payment | Not stated by BDO | 5% a month on each unpaid installment |
| How to apply | Submit the application form and documents online or at any BDO Loans Center | Apply online; the online facility takes individual applications only |
Documentary stamp tax of ₱1.50 per ₱200 of the loan is a national tax and applies at every bank.
Requirements: BDO vs PSBank
What each bank asks an employed borrower for. Business owners and OFWs: see each bank's page.
BDO
- Completely filled-out application form
- Photocopy of one valid ID matching the application, such as driver's license, passport, TIN ID, SSS ID or GSIS eCard
PSBank
- Completely filled-out PSBank Auto Loan application form
- Copy of 1 valid primary ID or 2 valid secondary IDs
BDO or PSBank: questions
Which is better, BDO or PSBank car loan?
BDO and PSBank differ on down payment (From 20% vs At least 20% of the selling price) and decision time (Within 24 hours vs Credit decision by SMS in as fast as 24 hours). PSBank quotes its rate when you apply, so ask for it in writing to compare.
Which needs a lower down payment, BDO or PSBank?
BDO: From 20%. PSBank: At least 20% of the selling price.
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Not set on these two? Answer 5 questions to see the three car loans that fit you best.