Bank
BDO Auto Loan
BDO Auto Loan auto loans cover brand-new and pre-owned cars priced up to ₱5,000,000. Rates range from 6.88% – 14% p.a., repayment runs 12 – 60 months, and the minimum equity is 20%. BDO is the largest bank in the Philippines by assets.
Quick Facts
6.88% – 14% p.a.
Interest Rate
20%
Min. Down Payment
12 – 60 months
Loan Term
3 – 5 business days
Processing Time
Maximum loan amount: ₱5,000,000
Requirements
- Valid government-issued ID (passport, driver's license, or UMID)
- Proof of income (latest 3 months payslips or ITR)
- Proof of billing address (utility bill dated within 3 months)
- Photocopy of vehicle documents (OR/CR for used cars)
- Latest 3 months bank statements
- Filled-out auto loan application form
- Certificate of Employment with compensation details
Pros & Cons
Pros
- Rates start at 6.88% p.a. — competitive among Philippine bank auto loans.
- Maximum financing of ₱5,000,000 covers most new vehicles on the market.
- Loan terms up to 60 months keep monthly payments as low as ~₱112,000/month.
- Minimum down payment of just 20% reduces upfront cash needed.
- Applications accepted at any of its 1,500+ branches nationwide.
Cons
- Maximum rate of 14% p.a. applies to used cars or longer terms.
- Requires at least 20% down payment — on a ₱5,000,000 vehicle that means ₱1,000,000 cash upfront.
- Processing takes 3 – 5 business days, slower than some dealer-arranged financing.
- Minimum gross monthly income requirement of ₱25,000 excludes entry-level earners.
Frequently Asked Questions
What is the BDO auto loan interest rate in 2026?
BDO auto loan interest rates range from 6.88% – 14% p.a. depending on the vehicle age, loan term, and borrower profile. Shorter terms and brand-new vehicles typically qualify for the lower end of the range.
How much down payment does BDO require for a car loan?
BDO requires a minimum down payment of 20% of the vehicle's selling price. For example, on a ₱1,000,000 car the minimum equity is ₱200,000.
How long does BDO auto loan approval take?
BDO auto loan applications are typically processed within 3 – 5 business days. Having complete documents ready at the time of application speeds up the release.
Can I use a BDO auto loan for a used car?
Yes, BDO finances both brand-new and pre-owned vehicles. Used car loans may carry higher rates (closer to 14% p.a.) and the vehicle must generally be no older than 10 years at loan maturity.
What documents do I need for a BDO auto loan?
You will need a valid government ID, proof of income (latest 3 months payslips or ITR), proof of billing address, and a completed application form. Self-employed applicants must also submit DTI/SEC registration and audited financial statements.