Bank of Commerce is a progressive commercial bank which is also known by the names BankCom, Bancommerce and BoC, was established in 1963 and has its headquarters in Mandaluyong, Philippines. The Bank offers a variety of banking products and services including bank deposits, loans such as car loan, home loan etc., corporate banking, cash management products, consumer banking, e-banking solutions, credit card services, treasury and trust services, trade and remittances, and so on.
You’re probably eligible for an Bank of Commerce Car Loan if you are
Salaried or self-employed
with regular income
Earn more than the minimum
Your Bank of Commerce Car Loan amount eligibility is based on these factors
EMIs of other loans lower
Increase your eligible Bank of Commerce Car Loan amount by these steps
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Documentation needed to apply for an Bank of Commerce Car Loan
- 1.Duly filled auto loan application form
- 2.Photocopy of ID such as driver's license, passport, SSS ID, Postal ID, PRC ID etc
- 3. Copies of the last 6 months’ bank statements or deposit passbooks
- 4.Documentation for salaried applicants:
- Income Tax Return (ITR) copy with BIR or bank stamp of the last 1 year
- Original copy of Certificate of Employment
- Photocopy of last full month pay slip
- 5. Documentation for self Employed applicants:
- Photocopy of DTI registration or SEC
- Photocopy of latest ITR and W4 with BIR/Bank Stamp.
- Copy of Audited Financial Statements of the past year
Bank of Commerce Car Loan DetailsUpdated on 03 Dec 2016
Bank of Commerce Car Loan
Bank of Commerce car loan can be availed by individuals in order to purchase a new car. Bank of Commerce offers car loan at competitive rates as well as provide attractive benefits such as discounts off the loan rate. The minimum loanable amount is PHP 100,000, for a term of minimum 12 months and up to a period of 60 months.
Requirements for Application of Bank of Commerce Car Loan
- Duly filled auto loan application form. The application form can be obtained from the bank’s branches or online as well.
- Photocopy of ID such as driver's license, passport, SSS ID, Company ID if company belongs to top 5,000 corporation, Postal ID, PRC ID.
- Copies of the last 6 months’ bank statements or deposit passbooks.
- Latest one month’s bill statements of utility, cellphone, and so on.
- Quotation from the dealer for the vehicle if it is available.
Documents to be submitted by Applicants
- Income Tax Return (ITR) copy with BIR or bank stamp of the last 1 year has to be provided by the applicant at the time of application.
- Original copy of Certificate of Employment that shows applicant's designation, income, and period of stay in the company also has to be submitted.
- A photocopy of the documents showing business registration with DTI (Department of Trade and Industry) has to be provided by the self-employed applicant if it is a single proprietorship. Self-employed applicants in a partnership or corporation has to provide the documents relating to registration with SEC (Securities Exchange Commission).
- A copy of Audited Financial Statements of the past year has to be provided by the applicant.
- The applicant also has to provide his/her Income Tax Return (ITR) copy, with bank stamp or BIR valid for the last 1 year.
For Corporation / Partnership
- In the case of a single proprietorship, the application for car loan has to be submitted along with a copy of the business registration papers with DTI (Department of Trade and Industry), and if it is a partnership or corporation which wants to avail a car loan, then they have to submit documents of business registration with SEC (Securities Exchange Commission).
- A copy of the audited financial statement of the past 1 year has to be submitted by the Corporation / Partnership.
- The latest one year’s Income Tax Return copy along with BIR or bank stamp is mandatory.
- The Board resolution documents or Secretary's Certification also has to be provided along with the other documents at the time of application.