United Coconut Planters Bank has been the forerunner in providing innovative banking solutions and financial services across the Philippines. The bank’s large customer base comprises of individuals, private corporations, Government institutions, middle market companies and small and medium businesses. United Coconut Planters Bank car loans are a natural choice for customers looking to invest in their dream car with affordable financing facilities. With its personalized customer service, wide service delivery network and a financial firm committed to the welfare of the coconut communities and farmers, the United Coconut Planters Bank has established itself as a strong player in the competitive banking industry.
You’re probably eligible for an UCPB Car Loan if you are
Salaried or self-employed
with regular income
Earn more than the minimum
Your UCPB Car Loan amount eligibility is based on these factors
Minimum income required
P30,000 per month
EMIs of other loans lower
Increase your eligibility for Bank 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 UCPB 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
UCPB Car Loan DetailsUpdated on 06 Dec 2016
|Minimum Loan Amount||P100,000|
|Margin of Finance||No Info|
Overview of the United Coconut Planter's Bank Car Loan
One of the foremost banks within the Philippines, the United Coconut Planter’s Bank or United Coconut Planter's Bank as it’s commonly known, offers loans that are affordable, easy to procure and with competitive benefits and features. Procuring a car is one of the highlights in everybody’s life and the only thing standing in the way is obtaining finances for the same. But thanks to the United Coconut Planter's Bank car loan, owning a car is now simple and hassle free. By opting for this loan, customers can also procure partnerships with various auto dealers.
Why choose United Coconut Planter's Bank Car loan ?
Affordable loans with a flexible tenure and a high loan quantum. These are just some of the reasons that make the United Coconut Planter's Bank car loan one of the most sought after loans for customers to avail within the Philippines. This loan can be used for various purposes and the down payment that the customer will have to contribute is also very economical.
Customers can avail their loans without going through an extensive and exhaustive process as loan approval does not take a lot of time. Customers are also offered flexibility with respect to how they wish to repay their loans. All in all, it is one of the most convenient options available for customers within the Philippines looking to procure their own car.
Features of a United Coconut Planters Bank Car Loan
United Coconut Planters Bank car loans are easily available to customers in the Philippines at low interest rates per annum and with flexible loan amounts. UCPB customers can enjoy the added advantage of owning their desired car or refinancing their cars for cash with quick loan disbursements.
- United Coconut Planters Bank maintains partnerships with top auto dealers for the benefit of customers looking to avail a UCPB car loan for their new cars.
- UCPB sanctions a minimum loan amount of P100, 000.00 for all types of applicants.
- The minimum down payment required to be paid by an UCPB customer is 20% of the net cost of the car.
- The loan tenure can be extended anywhere between one year to five years for brand new cars.
- Monthly installments can be paid by issuing postdated cheques to the United Coconut Planters Bank or by requesting for automatic debits from a customer’s UCPB bank account.
- Car owners are required to take a car insurance policy from any insurance company in the Philippines for the first year of the loan tenure. Going forward, for the following years, borrowers have to take a comprehensive car insurance policy for their new cars from any UCPB-Accredited insurance company.
- Multipurpose loans with an existing vehicle as collateral security can also be taken by UCPB customers.
Eligibility criteria for a UCPB Car Loan
Salaried professionals and self-employed businessmen who have been working or have been in business respectively for the last two years with a minimum gross monthly income of P30,000.00, are eligible to apply for a UCPB car loan.
Documents Requirements for UCPB Car Loan
Applicants have to be submit the completed loan application form with copies of IDs of the borrower and co-borrowers while applying for a UCPB car loan.
- Employed Professionals: Salaried professionals need to submit the following proofs of income for UCPB car loans to be approved - Income Tax Return or the Certificate of Creditable Tax Withheld at Source for the last three years, Certificate of Employment and payslips for the past three months from the current employer.
- Proprietorships: Customers in sole proprietorships have to furnish the following documents for a United Coconut Planters Bank car loan to be sanctioned - Income Tax return statements, bank account statements, audited financial statements, in-house financial statements, name of the business, application for registration of the business’s name, certificate of registration of the business name with the Department of Trade and Industry in the Philippines and a list of suppliers and customers pertaining to the applicant’s business.
- Partnerships: UCPB customers in business partnerships need to provide the mentioned documents during the UCPB loan approval process - Latest audited and in-house financial statements, Income Tax returns, bank accounts statements, Articles of Partnership, a list of business suppliers’ and customers’ names along with the SEC certificate of filing of Articles of Co-Partnership.
- Corporate firms: Corporate firms can also apply for a United Coconut Planters Bank auto loan by giving these income proof documents - Bank account statements, latest audited and in-house financial statements, the SEC Certificate of Filing of Articles of Incorporation, Income Tax Returns, list of business suppliers and customers, Articles of Incorporation and corporate By-Laws.
FAQs about UCPB car loan
- What are the payment options that customers can avail of while repaying their loans?
- What is the loan quantum provided by United Coconut Planter's Bank to customers looking to procure their auto loan?
- How much is the down payment that customers are required to pay?
- What are the insurance requirements for customers ?
Post dated checks will be issued to customers in order to repay their loans. Another option that can be availed is an ADA or automatic debit arrangement against an account with United Coconut Planter’s Bank.
The minimum loan amount that United Coconut Planter's Bank provides is P100,000 for customers to purchase their own car.
20 percent of the net cash price is the minimum down payment that customers are required to pay in order to procure the auto loan from United Coconut Planter's Bank.
- Customers are required to provide the following -
- Comprehensive policy from an insurance company of repute during the first year.
- For the succeeding years, comprehensive insurance policy from an insurance company that has been accredited by United Coconut Planter's Bank.
Customers will have to have P30,000 as their minimum gross earnings per month in order to avail the United Coconut Planter's Bank auto loan.