UnionBank Auto Loan Philippines: Rates, Requirements & How to Apply
Updated: Mar 2, 2026
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UnionBank Auto Loan
• Loan amount up to ₱20,000,000
• Fast approval — as quick as 24 hours
• Available for brand-new & used vehicles
• Flexible repayment terms up to 60 months
🚗 New & Used Cars | 💰 From 20% Down Payment | 📅 Up to 60 Months Term |
Looking for a UnionBank car loan in the Philippines? This guide covers loan amount, terms, down payment, add-on rates, requirements, fees, and a checklist to improve your approval odds.
Eligibility · View Sample Monthly Payments · How to Apply · Rates · Requirements · FAQ
UnionBank Auto Loan at a Glance
- Vehicle types: Brand-new and pre-owned (used) cars; select light trucks may qualify.
- Maximum loanable amount: Up to 80% of vehicle selling price (subject to credit approval).
- Down payment: Typically 20% (brand-new) and 30% (used).
- Loan terms: 12–60 months (new) and 12–48 months (used).
Best for: Buyers who want structured monthly amortizations and bank-backed financing.
Important: Final rates, loan amount, and approval time depend on credit assessment and submitted documents.
What Is a UnionBank Auto Loan?
A UnionBank Auto Loan is a secured car loan that allows you to purchase a vehicle through fixed monthly amortizations. The vehicle serves as collateral, which often makes car loan rates lower compared to unsecured loans.
Who Should Apply?
- Individuals planning to buy a brand-new or used vehicle
- Borrowers who can provide income documents and valid IDs
- Buyers who prefer predictable monthly payments
UnionBank Auto Loan Rates (Add-On Rate)
Car loans in the Philippines typically use an add-on rate, meaning interest is calculated on the original principal across the entire loan term.
Tip: Compare monthly amortization and total payment—not just the add-on rate.
Sample Add-On Rate Table (Illustrative Only)
| Loan Term | Sample Add-On Rate | Estimated Monthly Payment |
|---|---|---|
| 12 months | 6.00% | ₱88,335.02 |
| 24 months | 10.74% | ₱46,140.31 |
| 36 months | 15.63% | ₱32,117.16 |
| 48 months | 20.65% | ₱25,137.47 |
| 60 months | 25.80% | ₱20,967.67 |
How to know if you can afford it
- Keep total car expenses within your monthly comfort zone.
- Higher down payment reduces monthly amortization.
- Longer terms lower monthly cost but increase total interest.
Eligibility Requirements
- Age: 21–65 years old (must not exceed maximum age at loan maturity)
- Income: Must meet minimum income requirements based on evaluation
- Residency: Filipino citizens or qualified foreign nationals
Documents Required
For Individual Applicants
- Two (2) valid government-issued IDs
- Proof of income (payslips / COE / ITR / business documents)
- Proof of billing
- Vehicle documents (for used cars)
For Business Applicants
- SEC/DTI registration documents
- ITR or audited financial statements
- Authorized signatory IDs
Quick Application Checklist
- Prepare down payment funds
- Have clear digital copies of documents
- Ensure consistent personal details across forms
How to Apply for a UnionBank Auto Loan
- Determine your budget and preferred monthly payment
- Select your vehicle
- Prepare required documents
- Submit application
- Wait for approval and confirmation
Pro Tip: Complete and accurate documents significantly speed up approval.
Fees & Other Costs
- Processing fees (if applicable)
- Chattel mortgage fees
- Comprehensive insurance
- Dealer-related charges
Always request a breakdown of total cash-out and total amount payable before finalizing your loan.
UnionBank Auto Loan FAQs
What is the minimum down payment for UnionBank auto loan?
Typically 20% for brand-new vehicles and 30% for used vehicles, subject to approval.
How long can I repay the loan?
Loan terms usually range from 12 to 60 months depending on vehicle type.
What is an add-on rate?
An add-on rate calculates interest on the original loan principal for the full term, resulting in fixed monthly payments.
Disclaimer
Information is for educational purposes only. Final approval, loan amount, rates, and fees are subject to UnionBank's latest evaluation and terms.
