At PSBank, we are committed to make auto loans simple and easy.

The PSBank Auto Loan offers competitive interest rates, flexible payment options, and approval via SMS on loan applications in as fast as 24 hours.  The most rewarding part of the PSBank Auto Loan is its Prime Rebate feature which lets you earn discounts on your loan when you make advance or excess payments on your monthly due.  With this arrangement, you’ll be able to lower your total loan amount, shorten your loan term, or even both. 

So whether it’s for your personal or business use, fund your car purchases with a PSBank Auto Loan with Prime Rebate.



Loan Amount

Minimum of PhP100,000

Loan Terms

Flexible between 12 to 60 monthly amortizations

Interest Rate

Based on prevailing interest rate at time of loan booking.

Modes of Payment
  • Online payment using your enrolled deposit account thru PSBank Online and PSBank Mobile
  • Automatic Debit Arrangement from a PSBank deposit account
  • Post-dated checks
  • Cash or check payments via PSBank, Metrobank, BancNet ATMs nationwide
  • Over-the-counter cash or check payment at any PSBank branch nationwide
  • Fast approval

  • Low interest rates

  • Flexible payment terms

  • Convenient modes of payment

  • PSBank Prime Rebate:

    • Allows customers to earn rebates or savings when they make advance or excess payments on their PSBank Auto Loan’s monthly due.

      • The rebate is automatically applied to all new and existing term loans. The client does not need to register or enroll to get the rebate.

      • Rebates earned from advance / excess payments are computed on a daily basis – including weekends and holidays, starting on the date the payment is posted, and credited every due date.

      • Prime Rebate is not valid for loans under a zero-interest rate promotion or program.

    • How does the PSBank Prime Rebate work?

      • Make an advance payment: For example, when you pay five days before your loan’s monthly due date, you will actually earn a rebate on a daily basis from the day your payment was posted to the day before your loan’s due date.

      • Make an excess payment: If you pay in excess of the amount required on your due date, you will earn a rebate on a daily basis from the date of posting.

Click here to view the List of Brand New Cars.

Click here to view the List of Pre-Owned Cars for Sale.

BOOKING FEES AND CHARGES

CHATTEL MORTGAGE FEES + INSURANCE + OTHER CHARGES (RD Registration (out of town) fee + LTO Encumbrance (out of town) fee

POST-BOOKING FEES AND CHARGES

Processing of loan certification

A fee of PhP100 will be charged

Transmittal of loan documents to another branch A fee of PhP100 will be charged
Due date extension fee (accrued interest from old due date to new due date) Due date extension fee is computed as: Outstanding Balance x Rate x number of days / 360
Service Fee for Certificate of Encumbrance for LTO registration A certification fee of PhP50 shall be charged plus a notary fee of PhP300 if Certificate of Encumbrance for LTO registration is notarized.
Processing fees for change of collateral and conversion of unit to PUV

• PhP5,000 shall be charged for amendments or change of collateral.

• PhP10,000 shall be charged for conversion of unit to PUV

Late / Non submission fee on insurance policy renewal PhP2,500 shall be charged for late/non-submission of insurance policy renewal document
Collection fee in case of default A collection fee amounting to 3% of the monthly installment or amount due shall also be charged in case of default.
Late payment penalty fee 5% per month or a fraction thereof shall be added on each unpaid installment from its due date until fully paid.
Attorney's fees and liquidated damages In case of default and no legal action is filed, borrower shall pay an additional sum equal to 10% of the amount due as attorney’s fees. In case of litigation, borrower shall pay an additional sum equal to 25% of all amount outstanding as attorney’s fees and the further sum of 20% as liquidated damages, in addition to cost and other expenses of litigation.
Notarial and Cancellation Certificate fee PhP500
Pre-termination charges/early settlement fee FREE OF CHARGE
Safekeeping fees In case the loan documents are unclaimed within 90 days after the date of full payment, a safekeeping fee of PhP1,000 shall be charged automatically on the 91st day. If the documents are still not claimed after 120 days, an additional amount of PhP500 will be charged every month (30 days).

Note: All aforesaid fees and charges will take effect immediately and may be cancelled or modified anytime at the Bank’s sole discretion without any prior notice.

  • Borrower must be at least 21 years of age and not more than 65 years at the time of loan maturity.

  • Filipinos, foreigners holding permanent resident / immigrant visas (permanent residents) and certain non-immigrants and embassy officials (temporary residents), subject to specific limitations and conditions.

  • If employed, must have a tenure of at least two years.

  • If engaged in business, must be operating profitably for the last two years.

  • Gross monthly family income of at least PhP30,000.

For employed applicants:

  • Certificate of Employment
  • Income Tax Return (ITR)
  • Copy of valid IDs (government-issued with photo and signature)

For self-employed applicants:

  • Business Registration
  • Corporate Papers
  • Financial Statements
  • Income Tax Return (ITR)
  • Copy of valid IDs (government-issued with photo and signature)

 

For corporate applicants:

  • Completely filled-out PSBank Auto Loan Application Form
  • Business Registration
  • Corporate Papers
  • Financial Statements
  • Income Tax Return (ITR)
  • Copy of valid IDs of authorized signatories

 

Click here to view the List of Accredited Insurance Companies.

Truth and Transparency in Lending
Enhanced Implementation of the Truth in Lending Act (Republic Act 3765)


The State protects its citizen from a lack of awareness of the true cost of credit to the customer by assuring a full disclosure of such cost and other terms and conditions with a view of preventing the uninformed use of credit.

As such, a disclosure statement is a required attachment to the loan contract. It shall include, at a minimum, the following information:

1.) Total amount to be financed
2.) Finance Charges and all other charges incident to the loan
3.) Net proceeds of the loan
4.) Schedule of Payments
5.) The percentage that the finance charge bears to the total amount to be financed expressed as an Effective Interest Rate (EIR)

Important Notice: The Bank is required to provide the borrower a copy of the disclosure statement prior to the consummation of the credit transaction.

For more information:




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