In short
RCBC holds back 20% of the amount as a residual value due at the end of the term. BPI holds 20% of the vehicle's price from your own deposit account instead of collecting it upfront.
On BPI's own sample, that pushes the monthly payment from ₱21,835 on a regular loan to ₱27,293.75 on Zero Cash Out. Both use the same 31.01% add-on rate.
- Bank products with 0% down payment
- RCBC Auto Loan FlexiLite; BPI Zero Cash Out
- RCBC FlexiLite eligibility
- Hexagon Club members only
- RCBC FlexiLite residual value
- 20% of the amount financed, due at term end or amortized up to 3 more years
- BPI Zero Cash Out financing
- Up to 100% of net selling price
- BPI Zero Cash Out holdout
- 20% of the selling price held from your own deposit account
- Lowest regular down payment, brand new
- 5% (Landbank, regular depositors)
- Any live dealer 0% down payment promo
- None on Hyundai's or Kia's official promo pages
Check which banks' rules you meet
Loan length: 5 years.
Enter your age and monthly income to see which banks' rules you meet.
The banks' stated minimums. Banks also check your credit record and documents; meeting these rules is not an approval. Security Bank's income rule differs between its own pages, so this tool leaves it out.
Is a zero down payment car loan actually possible?
Yes, through two specific bank products, not a general market offer. RCBC's Auto Loan FlexiLite and BPI's Zero Cash Out both remove the upfront down payment.
But each replaces it with a different obligation later in the loan, not a true no-strings 0%.
No car brand's own promo page, including Hyundai and Kia's current campaigns, offers a 0% down payment. Their 'low DP' and 'low cash out' language is built on a 20% to 30% down payment basis, just spread differently.
| Product | Lender | What replaces the down payment |
|---|---|---|
| Auto Loan FlexiLite | RCBC | 20% residual value due at the end of the term |
| Zero Cash Out | BPI | 20% of the price held from your own deposit account |
RCBC Auto Loan FlexiLite: who qualifies and what it costs
FlexiLite is open only to Hexagon Club members. It covers brand-new private and personal vehicles of any brand except trucks and big bikes, one unit per eligible customer.
The loan must sit between ₱500,000 and ₱3,000,000, over a 36 or 60 month term.
The 20% residual value can be paid as a lump sum at the end, or amortized separately for 12 to 36 more months.
New or newly enrolled Hexagon Club members also face a deposit hold-out, 10% of the loan amount or ₱100,000, whichever is higher. That amount stays locked for one year.
See RCBC's full rate table for what FlexiLite is measured against. Car insurance on FlexiLite carries a fee; RCBC's own comparable Auto Loan Plus product waives that fee instead.
- Eligibility
- Hexagon Club members
- Loan amount
- ₱500,000 to ₱3,000,000
- Term
- 36 or 60 months
- Residual value
- 20% of the amount financed
- New-member holdout
- 10% of the loan or ₱100,000, whichever is higher, for 1 year
4 of 4 still to check
BPI Zero Cash Out: the worked example
BPI's own comparison uses a ₱1,250,000 car over 60 months. A regular loan finances ₱1,000,000 after a ₱250,000 down payment.
Zero Cash Out finances the full ₱1,250,000, while the bank holds ₱250,000 from your deposit account, savings, current or time deposit, instead.
Applying BPI's stated 31.01% add-on rate to both loan amounts: the regular loan costs ₱21,835 a month, ₱310,100 in add-on interest. Zero Cash Out costs ₱27,293.75 a month, ₱387,625 in add-on interest.
That is because it finances ₱250,000 more. The held amount stays in your account and keeps earning interest while it is locked.
See BPI's full auto loan page for the regular rate this is measured against.
- Minimum loan
- ₱500,000
- Maximum term
- 5 years
- Eligibility
- Individual applicants, brand-new passenger car
- Rate
- Same as BPI's stated rate for a regular loan
| Product | Amount financed | Monthly payment | Add-on interest |
|---|---|---|---|
| Regular Auto Loan | ₱1,000,000 (₱250,000 down) | ₱21,835.00 | ₱310,100 |
| Zero Cash Out | ₱1,250,000 (₱250,000 held in deposit) | ₱27,293.75 | ₱387,625 |
Is the interest rate higher on a zero-down loan?
At BPI, no. Zero Cash Out is priced at the same stated rate as a regular loan.
The higher monthly payment comes entirely from financing more, not from a rate markup.
At RCBC, the FlexiLite calculator does show a higher figure than the Regular Auto Loan at the same term, 33.28% against 29.60% at 60 months. But the calculator does not model the residual value.
So treat that comparison as directional rather than exact.
- BPI Zero Cash Out rate
- Same as BPI's stated rate
- RCBC FlexiLite calculator, 60 months
- 33.28%, against 29.60% on RCBC's Regular Auto Loan
If you cannot qualify for a 0% product, what is the lowest regular down payment?
Landbank states the lowest regular figure of any lender here, as low as 5% of the SRP net of dealer discounts, for its own depositors.
BPI's standard auto loan goes as low as 15%, and Toyota Financial Services' used-car product, TFS-owned units only, goes as low as 10%.
BDO states that anything below 20% down is possible only with special approval, so treat that as case by case rather than a stated minimum. See low down payment options generally for the wider list.
| Lender | Minimum down payment |
|---|---|
| Landbank | 5% (regular depositors) |
| Toyota Financial Services (used, TFS-owned) | 10% |
| BPI | 15% |
| BDO | 20%, less is case by case with special approval |