In short
A heavy truck over 48 months carries 31.27% add-on, 14.04% a year. Maybank finances trucks up to 80% of appraised value over 60 months, with a decision in 3 days.
Security Bank's standalone Truck Loan caps at 70% loan-to-value over 36 months. That is a different product from its 80% Auto Fleet Facility for businesses buying 3 or more vehicles.
- Lenders compared
- 6: BPI, Maybank, Security Bank, AUB, China Bank, Asialink, plus BDO for business-use terms
- BPI truck rate (60mo, light/medium)
- Add-on 33.28% / effective 11.94%
- BPI truck rate (48mo, heavy)
- Add-on 31.27% / effective 14.04% (no 60-month row for heavy trucks)
- Maybank truck LTV
- Up to 80% of appraised value, 4-wheeler to 10-wheeler, up to 60 months
- Security Bank Truck Loan (standalone)
- Up to 70% of price, 12 to 36 months, 30% down, 1-day approval
- Security Bank Auto Fleet Facility (3+ vehicles, ₱8M+)
- Up to 80% LTV, 12 to 60 months, down as low as 20%
Which banks finance a truck in the Philippines?
Six lenders state real truck terms on their own site. BPI has a dedicated truck page with separate rate tables for light/medium and heavy trucks.
Maybank finances trucks from 4 to 10 wheels, brand new, reconditioned or surplus. Security Bank runs two different products.
It has a standalone Truck Loan for a single vehicle. It also has an Auto Fleet Facility for businesses buying three or more vehicles worth at least ₱8,000,000 combined.
AUB and China Bank list trucks as an eligible body type without stating a rate. Asialink, a financing company rather than a bank, finances trucks and offers truck refinancing, also without a stated rate.
BDO's own rate sheet does not name trucks specifically. But its business-use terms are 30% down with a 3-year maximum for brand new, and 40% down with a 2-year maximum for pre-owned.
Those terms apply to any commercial-use vehicle financed under its Auto Loan.
| Lender | Product | Loan-to-value | Term | Rate stated? |
|---|---|---|---|---|
| BPI | Auto Loan, truck (light/medium and heavy tables) | 60-70% (heavy) to 70-80% (light/medium) | Up to 5 yrs (light/medium), 4 yrs (heavy) | Yes, add-on and effective |
| Maybank | Auto Loan, Trucks | Up to 80% of appraised value | Up to 60 months | Not stated |
| Security Bank | Truck Loan (standalone) | Up to 70% of price | 12 to 36 months | Not stated |
| Security Bank | Auto Fleet Facility (3+ vehicles, ₱8M+) | Up to 80% brand new, 70% used | 12-60 (new), 12-48 (used) | Not stated |
| AUB | Truck Loan, light trucks | Not stated | Not stated | Not stated |
| China Bank | AutoPlus, LCV/Trucks (4 or 6-wheeler) | Not stated for trucks specifically | Not stated | Not stated |
| Asialink | Auto and Truck Financing, incl. refinancing | Not stated | Up to 60 months | Not stated |
Light and medium trucks cost less to finance than heavy trucks
BPI is the only lender in this set that states a truck rate table, and it draws a clear line between vehicle classes.
Light and medium trucks run an effective rate of 11.19% at 36 months, rising to 11.94% at 60 months. Heavy trucks cost more at every term: 13.70% effective at 36 months, 14.04% at 48 months.
BPI does not offer a 60-month term for heavy trucks at all.
That gap holds at every term BPI states. It means a heavy-truck buyer pays roughly 2 percentage points more in effective rate than a light-truck buyer.
That is true even when both borrow the same amount for the same term, on BPI's own numbers. Run a specific truck price against BPI's rate on the car loan calculator.
- Light/medium truck, 36 months
- Add-on 18.18% / effective 11.19%
- Light/medium truck, 60 months
- Add-on 33.28% / effective 11.94%
- Heavy truck, 36 months
- Add-on 22.51% / effective 13.70%
- Heavy truck, 48 months
- Add-on 31.27% / effective 14.04% (longest term BPI states for heavy)
Security Bank's Truck Loan and its Auto Fleet Facility are not the same product
The two share a bank and a webpage family, but the numbers are different. The standalone Truck Loan is built for one vehicle.
It finances up to 70% of the purchase price, with a minimum of ₱400,000, over 12 to 36 months.
It also needs a 30% minimum down payment, and gives a credit decision in 1 to 2 days once the paperwork is complete.
The Auto Fleet Facility is a separate, business-scale product. It applies only when a company is financing at least three vehicles totalling at least ₱8,000,000.
It runs to a higher 80% loan-to-value on brand-new units (70% for second-hand), and a longer 12-to-60-month term on new vehicles. It also sets a lower 20% minimum down payment.
Fleet accreditation itself takes 10 to 15 days, longer than the 1-to-2-day credit decision on a single Truck Loan.
A single-truck buyer does not qualify for the fleet terms. A fleet buyer, in turn, does not need to use the standalone Truck Loan's shorter term or higher down payment.
| Term | Truck Loan (1 vehicle) | Auto Fleet Facility (3+ vehicles, ₱8M+) |
|---|---|---|
| Loan-to-value, brand new | Up to 70% | Up to 80% |
| Minimum amount | ₱400,000 | ₱400,000 per unit, ₱8,000,000 fleet total |
| Term, brand new | 12 to 36 months | 12 to 60 months |
| Minimum down payment | 30% | As low as 20% |
| Decision time | 1 to 2 days | 10 to 15 days for fleet accreditation |
Zero-interest promos exist, and business-use terms are stricter than personal
BPI ran a FUSO Exclusive Offer: zero interest, a minimum 30% down payment and 12, 18, 24, 36 or 48-month terms. It applied to brand-new FUSO trucks at authorized dealers.
The offer ran July 1 to September 30, 2026, under DTI Fair Trade Permit No. FTEB-264264.
A promo like this changes the terms above for the specific brand and dates named; it does not carry over past its own end date.
Business-use financing runs tighter than personal-use across every bank that states both. BDO's brand-new business-use terms are a 30% minimum down payment and a 3-year maximum term.
That is against 20% down and up to 5 years for personal use. Security Bank's Business Auto Loan also covers truck loans for a business.
It asks for at least 3 years of legitimate operation and a minimum 30% down payment. See financing a vehicle for business use for how this compares outside trucks specifically.
The BPI FUSO promo ended September 30, 2026. If you are reading this after that date, confirm with a BPI-accredited FUSO dealer whether a new promo has replaced it. Do this before assuming zero interest still applies.
What documents a truck or fleet loan needs
Business and fleet borrowers face a longer document list than a personal auto loan. Maybank asks for 2 valid IDs, the latest ITR, and SEC or DTI business papers.
It also asks for 3 months of bank statements for self-employed applicants, and audited financial statements for corporations. It inspects the LTO registration and OR of the vehicle itself.
AUB splits its checklist into four separate borrower types: locally employed, self-employed, partnership and corporation, each with its own document set. The base document list any bank asks of a personal borrower sits at car loan requirements.
- Confirm the borrower category
Locally employed, self-employed, partnership or corporation: each has a different document list at AUB and similar splits at Security Bank and Maybank.
- Government-issued ID
- SEC or DTI registration (business borrowers)
- Gather income proof
Latest ITR for most business borrowers; audited financial statements for a corporation; 3 months of bank statements for self-employed applicants.
- Latest ITR
- Audited financial statements
- 3 months bank statements
- Prepare the vehicle documents
Maybank inspects the LTO registration and OR of the truck itself as part of underwriting.
- LTO registration
- Official receipt (OR)