PSBank Car Loan 2026

By Aditya AmanPublished Sep 28, 2026Editorial PolicyLives in the Philippines and has driven nearly every Luzon expressway with his family.

PSBank, a Metrobank subsidiary, finances car purchases for personal or business use by Filipinos, qualified foreign residents and businesses.

Down payment: At least 20% of the selling price
Loan term: 12 to 60 months
Loan amount: ₱100,000 for brand-new cars; ₱300,000 for second-hand units (the bank's pages differ: ₱300,000 for all elsewhere)
Decision: Credit decision by SMS in as fast as 24 hours
Vehicles: Brand new, pre-owned or reconditioned

PSBank Auto Loan with Prime Rebate: features

Use: Personal or business
Prime Rebate: Rebate on advance or excess payments, computed daily and credited each due date; automatic, not for zero-interest promos

PSBank's own pages differ on minimum loan amount: ₱100,000 for brand-new cars, ₱300,000 for second-hand, on the auto loan product page; ₱300,000 for all vehicles, on a separate PSBank page; ₱100,000 flat, on PSBank's own online self-assessment tool. Confirm with the branch before you apply.

PSBank's own pages differ on cancellation document processing fee: ₱4,500 for later issuances (first issuance is a ₱500 notarial fee), per PSBank's main terms; ₱2,000 stated elsewhere on PSBank's site. Confirm with the branch before you apply.

Who can get a PSBank car loan

PSBank's rules differ by how you earn. Pick yours.

EveryoneEmployedOwn businessForeigner

At least 21, and no older than 65 when the loan matures
Gross monthly family income of at least ₱30,000
Filipinos

At least 2 years of tenure

Business operating profitably for the last 2 years

Foreigners with permanent resident or immigrant visas; some non-immigrants and embassy officials, subject to conditions
Foreign nationals: proof of at least 3 years of residency in the Philippines

How to apply for a PSBank car loan

Apply online; the online facility takes individual applications only
Open PSBank's form
Or apply at any PSBank branch

PSBank car loan fees and terms

What PSBank charges beyond interest, and the rules after you sign. Your disclosure statement lists the full amount.

Booking fees: Chattel mortgage fees, insurance, Registry of Deeds registration and out-of-town LTO encumbrance fees
Late payment: 5% a month or part of a month on each unpaid installment
Collection fee on default: 3% of the monthly installment or amount due
Attorney's fees: 10% of the amount due without legal action; 25% of the balance plus 20% liquidated damages in litigation
Early settlement: ₱10,000; waived if 6 months or less remain or the balance is ₱50,000 or less
Cancellation documents: First issuance ₱500 notarial fee; later issuances add a ₱4,500 processing fee (the bank's pages differ: ₱2,000 elsewhere)
Late insurance renewal: ₱3,000 for late or missing renewal policy
Loan certification and document transmittal: ₱100 each
Certificate of encumbrance: ₱100, plus ₱500 notary fee if notarized
Change of collateral or PUV conversion: ₱5,000 to change collateral; ₱10,000 to convert the unit to PUV
Due date extension: Outstanding balance x rate x number of days / 360
Unclaimed documents: ₱2,000 if unclaimed 90 to 120 days after loan closure; ₱1,000 for every 30 days after that
Cooling-off period: 2 banking days from signing the loan documents or paying the fees
Payment channels: PSBank Online and Mobile, auto-debit, post-dated checks, ATMs, branches, InstaPay, 7-Eleven and GCash
Fee changes: Fees may be changed or cancelled at any time without prior notice

Check your PSBank car loan application status

PSBank sends its credit decision by SMS, in as fast as 24 hours.

How to check the status at every bank

PSBank car loan hotline and contact

Sales department: (632) 8845-8859 or (0917) 813-8330
Business Center hours: Monday to Friday, 8:30 am to 5:30 pm, except holidays
Chat: PSBank LiveChat

PSBank car loan questions

How much is the down payment for a PSBank car loan?

At least 20% of the selling price.

How long is PSBank car loan approval?

Credit decision by SMS in as fast as 24 hours, once your documents are complete.

What are the requirements for a PSBank car loan?

Completely filled-out PSBank Auto Loan application form; Copy of 1 valid primary ID or 2 valid secondary IDs.

How do I check my PSBank car loan status?

PSBank sends its credit decision by SMS, in as fast as 24 hours.

What is the interest rate for a PSBank car loan?

PSBank states only add-on rates, from 5.86% to 30.26% across its 12 to 60 month terms (standard and one-month-advance columns). It does not state an effective annual rate or APR anywhere on its site.

What are the eligibility requirements for a car loan?

You must be 21 to 65 years old at loan maturity with a gross monthly family income of at least ₱30,000, at least 2 years of tenure if salaried, or 2 profitable years in business if self-employed. Foreign nationals need at least 3 years of Philippine residency.

How much car loan can I get on a 25,000 salary?

Below PSBank's stated minimum on its own self-assessment tool. PSBank sets its qualifying threshold at ₱30,000 gross monthly household income, so a ₱25,000 salary alone would not meet it unless combined with a co-borrower's income.

How can I check the status of my car loan application?

PSBank does not state a dedicated online status tracker for auto loans; reach the Sales department at (632) 8845-8859 or (0917) 813-8330, or use PSBank LiveChat.

What is the minimum loan amount for a PSBank Auto Loan?

PSBank's own pages don't agree: the main product page states ₱100,000 for brand-new cars and ₱300,000 for second-hand, a separate PSBank page states ₱300,000 for all vehicles, and PSBank's online self-assessment tool states a flat ₱100,000 with no new-or-used distinction. Confirm the figure for your case with a PSBank branch.

Compare before you apply

Answer 5 questions to see the three car loans that fit you best, or check the requirements at every bank.

How we compare car loans.