In short
They are BDO, BPI, Metrobank, China Bank, Security Bank, Bank of Commerce, UCPB Savings, Toyota Financial Services, Mitsubishi Motors Finance and Hyundai Finance.
Security Bank's main page sets a ₱100,000 joint income floor (its pre-owned page says ₱40,000 for a brand-new car). Across the 7 banks that quote an add-on rate, 60-month rates today run 25.80% to 32.52%.
- Named seaman car loan product
- None stated by these lenders
- Lenders with a distinct seafarer document list
- 10, under each lender's regular auto loan
- Onboard vs onshore signing handled separately
- Only at BPI (My Overseas Pinoy)
- Longest remittance or allotment window asked for
- 6 months, at Metrobank and China Bank
Is there a car loan made for seamen?
No. None of the ten lenders in this guide names a seaman-specific car loan, rate, term or down payment. What each one does state is a seafarer or sea-based document list sitting inside its regular auto loan.
That sits next to the land-based OFW list covered in our OFW car loan guide.
BPI is the only lender that splits its process by whether you sign onboard a vessel or onshore, through its My Overseas Pinoy channel.
The other nine simply ask for a crew or POEA contract in place of a local employment contract. They also add a Seaman's Book or Certificate of Sea Service where the applicant has one.
| Lender | What sets the seafarer list apart |
|---|---|
| BDO | Latest crew contract accepted in place of a Certificate of Employment |
| BPI | Separate onboard and onshore document lists under My Overseas Pinoy, each with its own SPA rule |
| Metrobank | Latest POEA contract plus a Certificate of Sea Service with work history and tenure |
| China Bank | Latest crew contract must be POEA-validated |
| Security Bank | Latest crew contract named specifically for seafarer or seaman applicants |
| Bank of Commerce | Job contract must be the applicant's latest contract for sea-based OFWs |
| UCPB Savings | Latest crew contract; Seaman's Book or SIRB accepted as an ID |
| Toyota Financial Services | Seafarer's Book listed among accepted documents, where the applicant has one |
| Mitsubishi Motors Finance | Groups OFWs, seafarers and virtual assistants under one document set |
| Hyundai Finance | OFW/seafarer document pair, financed through EastWest, BDO or BPI |
Age, income and tenure by bank
The seafarer document list sits on top of each bank's ordinary age and income rules. None of these numbers is seafarer-specific; they are the standard auto loan thresholds every applicant meets.
Run any of them through the calculator once you know your loan amount and term.
| Bank | Age limit | Minimum income |
|---|---|---|
| BDO | 21 to 70 at the end of the loan term | ₱50,000 a month, family |
| BPI | 18 to 70 at loan maturity | Not stated separately for My Overseas Pinoy applicants |
| Metrobank | 18 and up, no maximum stated | ₱40,000 a month, family |
| Security Bank | 21 to 65 at final maturity | ₱100,000 a month, joint with a Filipino guarantor or co-maker (another Security Bank page states ₱40,000 for a brand-new car) |
| Mitsubishi Motors Finance | 21 to 65 at the end of the loan term | ₱40,000 a month, family |
| Hyundai Finance | Follows the partner bank (EastWest, BDO or BPI) | Follows the partner bank |
How many months of remittance or allotment proof each bank wants
Sea-based income comes in as an allotment or remittance, not a payslip. So the window a bank asks for matters more here than at a land-based job.
- BDO
- 3 months of remittance proof, or a consularized Certificate of Employment with Income
- Metrobank
- 6 months of remittance proof, or 3 months of payslips or payroll bank statements
- China Bank
- 6 months of remittance proof plus the latest 3 months of payslips
- Security Bank
- 3 months of allotment slips as proof of remittance
- Bank of Commerce
- 3 months of remittance or allotment slips, plus the latest 1 month payslip
- Toyota Financial Services
- 3 months of allotment or remittance proof
Who signs the loan: onboard vs onshore
BPI's My Overseas Pinoy channel is the only lender in this guide that states two separate seafarer routes. Each needs a different Special Power of Attorney.
| Signing route | What BPI asks for |
|---|---|
| Onboard, currently at sea | Valid contract of employment; 3 months of latest proof of remittance; a Special Power of Attorney |
| Onshore, on vacation or between contracts | Latest contract of employment; complete copy of the Seaman's Book, all pages; a Special Power of Attorney |
The co-maker, guarantor and SPA checklist
Four lenders in this guide name a person other than the applicant somewhere in the process. The rest do not.
5 of 5 still to check
BPI states the only SPA rule tied to whether you sign onboard or onshore. A seafarer applying at another lender on this list follows that lender's ordinary employed-abroad route instead.
How a seafarer applies for a car loan
This sequence follows what the lender pages state, in the order they state it.
- Choose the car and lender
Compare the age, income and document rules above, or run the numbers on the calculator.
- Gather your contract and remittance proof
Bring your crew or POEA contract plus the months of remittance or allotment proof your chosen bank asks for.
- Crew contract or POEA contract
- Remittance or allotment slips
- Add your Seaman's Book or Certificate of Sea Service where asked
UCPB Savings, Toyota Financial Services and Metrobank each list one of these among accepted documents.
- Arrange the co-maker, guarantor or SPA your bank requires
Check the checklist above; not every lender needs one.
- Sign and register the chattel mortgage
The car loan is released once the chattel mortgage is registered, the same last step every borrower goes through.
Seaman car loan claims no lender actually states
A common template for this topic states a 12 to 60 month term, a 20% down payment, and a 3 to 7 day processing time. It also claims an "allottee-based processing" system built for seafarers.
None of the ten lenders compared here states any of that. Down payment, term and processing time follow each bank's ordinary auto loan schedule.
Allotment slips appear only as one accepted form of income proof, not a separate approval process. BDO and Metrobank are also sometimes credited with a dedicated seafarer desk officer; neither bank's page states this.
The lender that does name a dedicated overseas account officer is BPI, through My Overseas Pinoy.