''The Bank with a Heart'' is how Sterling Bank of Asia promotes itself in the banking industry. Sterling Bank of Asia is committed to delivering exceptional customer service, constantly evolving and identifying their needs. Adhering to their core values, the bank functions with integrity and believes in setting up new standards in banking. Sterling Bank of Asia’s car loan scheme Ultima is offered to customers in the Philippines with a lot of add-on benefits. Sterling Bank of Asia car loans can be easily availed nationwide by all types of customers. Sterling Bank of Asia is preferred by individuals, Overseas Filipino Workers, corporate firms and entrepreneurs for its innovative banking products and efficient service. Since its inception, the Sterling Bank of Asia has presented itself as a retail and small/medium enterprise oriented bank, with services comprising of middle market credit, funds management, information access and transaction processing.
You’re probably eligible for an Sterling Bank of Asia Car Loan if you are
At least 18 years old
Less than 65 years old
Salaried or self-employed
with regular income
Earn more than the minimum
Your Sterling Bank of Asia Car Loan amount eligibility is based on these factors
EMIs of other loans lower
Increase your eligible Sterling Bank of Asia 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 Sterling Bank of Asia Car Loan
- 1.Duly filled application form
- 2.Photocopy of ID such as driver's license, passport, SSS ID, Postal ID, PRC ID
- 3. Latest income tax return statement
- 4.Documentation for salaried applicants:
- 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
- Copy of the bank statements of last 3 months.
- Copy of Audited Financial Statements of the past year
Sterling Bank of Asia Car Loan DetailsUpdated on 18 Jan 2017
|Minimum Loan Amount||P100,000|
Features of a Sterling Bank of Asia car loan
‘Ultima’ auto loan from Sterling Bank of Asia is one of the most sought out loan products in the Philippines with easy payment methods, fast processing and flexible loan tenures.
- Sterling Bank of Asia sanctions car loans amounts starting from P100, 000.00 and above.
- The loan tenure can be decided anywhere between 12 to 60 months by the borrower.
- Customers have the option of paying their monthly instalments via post-dated cheques to the Sterling Bank of Asia.
Eligibility criteria for a Sterling Bank of Asia car loan
- Individuals should be aged between 18 to 65 years for qualifying for a Sterling Bank of Asia car loan.
- The monthly repayment pertaining to the car to be financed should not be more that 30% of the gross monthly income of the applicant.
- Salaried professionals should be employed for at least two years with the current employer and the company should have been in existence for a minimum of three years.
- Self-employed businessmen should have been in business for at least three years with profits shown for the previous year.
- Corporate firms can also apply for a Sterling Bank of Asia car loan provided they have been in operation with profits for at least two years.
The first step in the application process would be to submit the completed auto loan application form along with copies of valid Government ID proofs of the applicant and his spouse.
Additionally, corporate firms applying for a Sterling Bank of Asia car loan have to submit the following documents -
- Bank Account Statements
- Income Tax Returns
- Audited Financial Statements
- Corporate By-Laws
- Corporate Secretary and Authorized Signatories
- Notarized Board Resolution
- Articles of Incorporation or Partnership
- Partnership Resolution
- SEC Certificate of Registration
- General Information Sheet
- A list of partner names
Individuals have to submit the mentioned documents for a Sterling Bank of Asia car loan to be processed.
- Income Tax Returns
- Proof of Billing
- Decree of legal Separation (if applicable)
- Notarized SPA or Affidavit of Marital Consent(if applicable)
Along with the above listed documents applicants have to also submit a few more documents depending on the category of employment they fall under.
Professionals employed in the Philippines
- The latest pay slip
- Contract of Employment (original) with the current salary, position and the tenure of service mentioned.
Self-employed businessmen or Sole Proprietorships
- The last 3 months bank account statements
- Trade references - Names of 3 suppliers and 3 customers
- Certificate of Registration of Business Name
Overseas Filipino Workers
- Proof of Remittance
- Latest Certificate of Employment from the Manning Agency with current salary and position mentioned.
- Allotment papers with Beneficiary information (Qualified equivalents are also accepted)
- Remittance receipts
- Bank Passbook
- Bank Account Statements
Other Products from Sterling Bank of Asia