Institutions and Banks That Offer Motorcycle Loan in the PH
If you are one of those people who love to ride motorcycles, then you will know how tough it can be to get the best motorcycle loan for your business or personal use.
There are a number of lenders out there who offer great deals on their loans, but not all of them are reliable enough to trust with your money.
Here is a list of institutions that offer motorcycle loans in the Philippines:
Robinsons Bank
Robinsons Bank offers motorcycle loans for up to 30% of the down payment of the motorcycle. The duration or term period is always 6-36 months, whether it’s a regular/solo bike, big bite, or a second-hand unit.
You can calculate the loan you’re receiving on their website to know how much you’re receiving. The loan amount and monthly amortization shown are purely for simulation purposes.
Your account officer will validate the accurate and final computation of the loan amount and monthly amortization.
Security Bank
This bank offers motorcycle loans to loyal clients and credit-worthy individuals! You can apply for a high-end motorcycle loan with flexible payment terms and quick approval that fits your lifestyle.
- Loan Amount Up to 70% of Purchase Price for New Purchases
- Maximum 36-month duration for payment terms
- 30 percent or less of the buying price as a down payment
- Time for approval: One banking day
- Payment Approach: Auto-Debit Configuration
PNB Savings Bank
PNB Savings Bank offers motorcycle loans for as little as Php300,000, or up to 80% of the cost of your brand-new vehicle. You can choose the loan term for up to 5 years.
You can also calculate your on their website for initial computation. The calculation’s sum is based on an interest rate of 10.19 percent, which is subject to change at any time without prior notice.
BPI
With your large dream bike, go on more daring adventures. You can start riding your own large bike with the help of a BPI Auto Loan in a straightforward and affordable manner.
- P30,000 is the minimum household income.
- P200,000 is the minimum loan amount.
- Loan amount maximum: up to 70% of the buying price
- Loan Term Minimum: One Year
- Loan term maximum: three years
City Savings Bank
You can get a loan for as low as P20,000 and high as P300,000. With City Savings, you can get a loan for your motorcycle with a maximum engine size of 400 cc. You can choose your term period from 6-36 months.
Fundline
With Fundline, you can buy your dream motorcycle with their Motorsiklo Loan, along with the following benefits:
- You will get your loan in full.
- You can choose how you get your loan.
- You can choose the payment method that is easiest for you.
- Interest rates are competitive, and they provide flexible payment terms.
Conclusion
The good news is that there are a lot of banks and institutions that offer motorcycle loans. The requirements vary depending on your lender. So, make sure to contact the bank/institution first before applying for one. You just have to know where to look, who offers what terms, etcetera. But remember that you must be able to afford the loan and pay it back on time!
Author’s Bio:
Frank is an energetic salesman. On his free days, he spends his time writing and reading about financial plans and educational loans to help the parents and the next generation gain more insight about multiple educational opportunities.
