Car4Cash

Keep using your car while your OR/CR gets you our lowest loan interest rates

Benefits

P2M Maximum Loan Amount

Loan from P100,000 up to P2 Million

Low Processing Fee

3% of the loanable amount only

Your car stays with you

Just submit your OR/CR for safekeeping

Car4Cash Rates

Age of Car 12 months 18 months 24 months 36 months
0 to 5 years 1.25% 1.25% 1.50% 1.75%
6 to 10 years 1.50% 1.50% 1.75% 2.00%

Note: Interest rates and charges are subject to change without prior notice. All applications will be subject to SB Finance’s credit policies and procedures

SB Finance will never ask you to pay a facilitation fee for your application. If you receive a call, SMS, or email asking you to pay a facilitation fee, do not engage.
Immediately report the incident to our 24-Hour Customer Service hotline at (+632) 8887-9188 or email us at [email protected].

Check How Much You Can Borrow

Month
date
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Your Results
*Quoted loan amount and appraised value are indicative only. Final loan amount shall be confirmed in your loan documents upon loan approval. Final loan approval shall be subject to the submission of required documents and credit policies and procedures of SB Finance.

Get started in 3 easy steps

Check eligibility criteria and complete the requirements

Apply online or at nearby Security Bank branch

Wait for our email or sms confirmation

Requirements

A completely filled out and signed application form. For online application, go here. If you’re applying at a branch, click here to download the form.

If Employed

  • One (1) valid government-issued photo ID
  • Photocopy of OR/CR (must be under the borrower’s name, unencumbered and owned for at least 6 months)
  • Screenshot from Google maps of home and company address
  • Income Documents, any of the following:
    • Certificate of Employment and Compensation
      – issued within the last two (2) months
    • Latest ITR / BIR Form 2316
    • Latest one (1) month payslip

If Self-Employed

  • One (1) valid government-issued photo ID
  • Latest one (1) year Audited Financial Statements (AFS) with at least the previous year’s comparative financials
  • Latest three (3) months bank statements
  • SEC/DTI Certificate of Registration
  • Business permit/Mayor’s permit
  • Latest GIS (if corporation)
  • Photocopy of OR/CR (must be under the borrower’s name, unencumbered and owned for at least 6 months)
  • Screenshot from Google maps of home and company address

Qualifications

  • At least 21 years old but not more than 65 years old upon loan maturity
  • Must be a Filipino citizen
  • With office or residence landline
  • Residence or office is within the Bank’s service processing area

If Employed

  • Regular and permanent with current employer and employed for at least one (1) year
  • Minimum gross monthly income:
    • For Metro Manila: PHP 15,000
    • For outside Metro Manila: PHP 12,000

If Self-Employed

  • Must be the owner or a majority owner with at least 40% stake, and
  • Business should have a positive net worth in the last two (2) years
  • Minimum gross monthly income of PHP 100,000

For Vehicle

  • Must be registered under borrower’s name or under business name if business is a sole proprietorship owned by the borrower
  • Must be owned by borrower for at least 6 months at point of application
  • Should not be encumbered
  • Car type must either be passenger or pick-up car e.g. trucks not allowed
  • Cannot be for commercial use (e.g. used for Grab / TNVS), and cannot be a public utility vehicle / yellow plate (e.g. taxi, jeepney, UV express, FX, etc.)
  • Can be brand new or used
  • Maximum age of 10 years at point of application
Frequently Asked Questions

What is Car4Cash?

It is an unsecured loan that is based on client’s submission of a copy of his/her vehicle’s ORCR.

Will there be an encumbrance on the client’s ORCR?

No. We will only safekeep the client’s ORCR and release it once the loan gets fully paid.

Who is the target market for this product?

Car4Cash can be offered to both employed and self-employed individuals (aged 21-65 years old) who presently own a car for at least six months.

What cars are eligible for Car4Cash?

Refer to vehicle qualifications here.

What is the minimum income requirement for Car4Cash?

  • Employed individuals
    • For Metro Manila: PHP 15,000
    • For outside Metro Manila: PHP 12,000
  • Self-employed individuals: Minimum gross monthly income of PHP 100,000

Where can the clients apply?

They can only apply online or at nearby Security Bank branch.

How much is the amount that the client can loan?

The basis of the loan shall be the appraised value of the car. Maximum loan amount is 80% of the appraised value

  • Minimum P100,000.00
  • Maximum P2,000,000.00

What are the available loan terms?

12, 18, 24, 36 months

How much is the interest rate?

The interest rate shall be based on the age of the car and chosen loan term.

INTEREST RATES OF CAR4CASH
Age of car 12 months 18 months 24 months 36 months
0 to 5 1.25% 1.25% 1.50% 1.75%
6 to 10 1.50% 1.50% 1.75% 2.00%

What are the documentary requirements for Car4Cash?

  • Duly filled-out and signed loan application form
  • Photocopy of OR/CR (must be under the borrower’s name, unencumbered and owned for at least 6 months)
  • Screenshot from Google maps of home and company address
  • Photocopy of one (1) valid government-issued photo-bearing ID

If Employed:

  • Income Documents, any of the following:
    • Certificate of Employment and Compensation issued within the last two (2) months
    • Latest ITR / BIR Form No. 2316
    • Latest one (1) month payslip

If Self-Employed:

  • Latest 1-year Audited Financial Statement (AFS) with at least the previous year’s comparative financials
  • SEC Registration / DTI Certificate
  • Business Permit / Mayor’s Permit
  • Latest three (3) months bank statements
  • Latest GIS (if corporation)
  • List of 3 trade references (at least 1 supplier and 1 customer) with contact details

How long does it take to process a Car4Cash application?

5-7 banking days, if complete requirements are submitted to the branch or uploaded  in the online application form and if applicant is verified without adverse findings.

Where can the appraisal be held?

It may be held at the SB Finance Hub, SBC branch or satellite office, residence of the client or any other location preferred by the client.

What are the fees and charges?

Processing Fee 3% of the loanable amount
Notarial Fee (For P100,000 loan and up) Php 200.00
Documentary Stamps (For Php 250,000 loan and up) Php1.50 for every Php 200.00
Late Payment Fee

3% of the amount due or P500 whichever is higher

Effective September 19, 2021: 3% of unpaid amortization

Pre-termination Processing Fee P2,500

What is the mode of release for Car4Cash?

Loan proceeds will be via Manager’s Check or credit to your Security Bank Account. Loan proceeds are released through Manager’s Check (MC) or Credit to Security Bank Account. Loan proceeds may be claimed at the Loan Releasing Area (No. 849-A GF Keyland Building Arnaiz Ave Makati City) or through branch where loan was applied. During loan availment, you must bring the following:

  • If employed, original company ID and one (1) valid government issued IDs
  • If self-employed, original two (2) valid government issued IDs

Other documents required for booking that will be relayed by the SBF representative that will call you regarding the loan approval.

How can the clients pay for their loan?

The clients can pay their loan via Post-dated Checks (PDCs) only.

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