Bank
PNB Auto Loan
PNB Auto Loan offers auto loan rates from 7.5% – 16% p.a. with terms up to 60 months and a minimum down payment of 20%. PNB has the widest provincial branch network among private banks. Maximum financing amount reaches ₱3,000,000, and applications can be filed at 700+ domestic branches.
Interest Rate
7.5% – 16% p.a.
Loan Term
12 – 60 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)
Filled-out auto loan application form
TIN (Tax Identification Number)
Photocopy of vehicle documents (OR/CR for used cars)
Pros & Cons
Advantages
- Rates start at 7.5% 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 ~₱68,750/month.
- Minimum down payment of just 20% reduces upfront cash needed.
- Applications accepted at 700+ domestic branches.
Drawbacks
- Maximum rate of 16% 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 ₱25,000 excludes entry-level earners.
Frequently Asked Questions
What is the PNB auto loan interest rate in 2026?
PNB auto loan interest rates range from 7.5% – 16% 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 PNB require for a car loan?
PNB 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 PNB auto loan approval take?
PNB auto loan applications are typically processed within 5 – 7 business days. Having complete documents ready at the time of application speeds up the release.
Can I use a PNB auto loan for a used car?
Yes, PNB finances both brand-new and pre-owned vehicles. Used car loans may carry higher rates (closer to 16% p.a.) and the vehicle must generally be no older than 7 years at loan maturity.
What documents do I need for a PNB 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.