CTBC Bank Auto Loan
CTBC Bank Auto Loan auto loans cover brand-new and pre-owned cars priced up to ₱3,000,000. Rates range from 7% – 14% p.a., repayment runs 12 – 48 months, and the minimum equity is 20%. CTBC Bank Philippines is a subsidiary of Taiwan's CTBC Financial Holding.
Interest Rate
7% – 14% p.a.
Loan Term
12 – 48 months
Down Payment
20%
Processing
5 – 7 business days
Maximum loan amount: ₱3,000,000
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
TIN (Tax Identification Number)
Filled-out auto loan application form
Certificate of Employment with compensation details
Pros & Cons
Advantages
- Rates start at 7% p.a. — competitive among Philippine bank auto loans.
- Maximum financing of ₱3,000,000 covers most new vehicles on the market.
- Loan terms up to 48 months keep monthly payments as low as ~₱80,000/month.
- Minimum down payment of just 20% reduces upfront cash needed.
- Applications accepted at 30+ Philippine branches.
Drawbacks
- Maximum rate of 14% p.a. applies to used cars or longer terms.
- Requires at least 20% down payment — on a ₱3,000,000 vehicle that means ₱600,000 cash upfront.
- Processing takes 5 – 7 business days, slower than some dealer-arranged financing.
- Minimum gross monthly income requirement of ₱40,000 excludes entry-level earners.