Bank
Landbank Auto Loan
Landbank Auto Loan auto loans cover brand-new and pre-owned cars priced up to ₱3,000,000. Rates range from 6% – 12% p.a., repayment runs 12 – 60 months, and the minimum equity is 20%. Landbank is a government-owned bank offering preferential rates to public-sector workers.
Interest Rate
6% – 12% p.a.
Loan Term
12 – 60 months
Down Payment
20%
Processing
5 – 10 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)
Post-dated checks (PDCs) covering the loan term
Latest 3 months bank statements
Filled-out auto loan application form
2 x 2 ID photo
Pros & Cons
Advantages
- Rates start at 6% p.a. — attractive among Philippine bank auto loans.
- Maximum financing of ₱3,000,000 covers most new vehicles on the market.
- Loan terms up to 60 months keep monthly payments as low as ~₱65,000/month.
- Minimum down payment of just 20% reduces upfront cash needed.
- Applications accepted at 400+ branches with priority for government employees.
Drawbacks
- Maximum rate of 12% 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 – 10 business days, slower than some dealer-arranged financing.
- Minimum gross monthly income requirement of ₱50,000 excludes entry-level earners.
Frequently Asked Questions
What is the Landbank auto loan interest rate in 2026?
Landbank auto loan interest rates range from 6% – 12% 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 Landbank require for a car loan?
Landbank 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 Landbank auto loan approval take?
Landbank auto loan applications are typically processed within 5 – 10 business days. Having complete documents ready at the time of application speeds up the release.
Can I use a Landbank auto loan for a used car?
Yes, Landbank finances both brand-new and pre-owned vehicles. Used car loans may carry higher rates (closer to 12% p.a.) and the vehicle must generally be no older than 10 years at loan maturity.
What documents do I need for a Landbank 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.