Reviews

Motorcycle Loans

Financing for motorcycle purchases in the Philippines. Compare monthly amortizations, down payment requirements and terms from banks and in-house financing. Who motorcycle financing suits Motorcycle loans in the Philippines are used both for person

Found 6 reviews

Bank of the Philippine Islands offers a personal loan with one of the lowest fixed monthly rates among major Philippine commercial banks at 1.20%, covering amounts from PHP 20,000 to PHP 2,000,000. Th…

  • One of the lowest fixed monthly add-on rates among Philippine commercial banks
  • Largely digital application process for existing BPI clients
4.5
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BDO Unibank offers one of the most widely accessible personal loan products in the Philippines, with loan amounts from PHP 10,000 to PHP 2,000,000 and a fixed monthly add-on rate of 1.30%. Application…

  • Funded by the Philippines' largest bank by assets, with branches in most cities and municipalities
  • Fixed monthly add-on rate gives a predictable installment for the full loan term
4.4
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CIMB Bank Philippines operates as a fully digital bank licensed by the BSP, offering personal loans from PHP 30,000 to PHP 1,000,000 applied for entirely through the CIMB Bank PH mobile app. Monthly a…

  • Monthly add-on rate starts at a competitive 1.12%
  • Fully app-based process with no branch visit required
4.3
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Metropolitan Bank and Trust Company provides personal loans of up to PHP 2,000,000 with monthly add-on rates starting at 1.50%, targeting salaried employees and self-employed professionals with establ…

  • Loan amounts up to PHP 2,000,000 for qualified applicants
  • Wide nationwide branch and ATM network supports in-person service
4.2
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Maybank Philippines, a subsidiary of Malaysia's Maybank Group, offers personal loans from PHP 50,000 to PHP 1,000,000 with monthly add-on rates ranging from 1.30% to 1.80%, targeting employed professi…

  • Backed by Maybank Group, one of Southeast Asia's largest banking groups
  • Loan amounts up to PHP 1,000,000 for established borrowers
4.0
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Rizal Commercial Banking Corporation offers personal loans from PHP 50,000 to PHP 1,000,000 with monthly add-on rates from 1.30%, available to salaried employees and self-employed individuals who meet…

  • Minimum add-on rate starting at 1.30%, competitive among commercial banks
  • Over 500 branches and ATMs for in-person servicing
4.0
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Guide: Motorcycle Loans

Financing for motorcycle purchases in the Philippines. Compare monthly amortizations, down payment requirements and terms from banks and in-house financing.

Who motorcycle financing suits

Motorcycle loans in the Philippines are used both for personal transportation and for livelihood purposes, since many borrowers use a financed motorcycle to work as a delivery rider or for a similar income-generating activity. Both bank auto loan divisions and in-house financing arranged directly through motorcycle dealers are common, with in-house financing generally offering faster approval in exchange for a higher effective rate.

Eligibility basics

Applicants are typically required to be Filipino citizens aged 18 to 65, with a valid government-issued ID and proof of income or employment, though many in-house dealer financing programs accept more flexible documentation than a bank would, sometimes approving based on a down payment and a co-maker or guarantor rather than full payslip verification. A down payment, commonly ranging from around 10% to 30% of the unit price depending on the dealer or financing company, is standard, and the motorcycle itself typically serves as collateral until the loan is fully paid, meaning the financing company holds the registration documents (OR/CR) during the loan term.

A cost example

For a motorcycle priced at PHP 80,000 with a 20% down payment of PHP 16,000, the financed amount of PHP 64,000 repaid over 24 months at a typical in-house financing add-on rate might produce a monthly amortization in the range of roughly PHP 3,000 to PHP 3,500, depending on the specific rate and any documentation or insurance fees bundled into the contract. Bank-arranged financing, where available, can offer a lower effective rate but usually requires more complete income documentation and a longer approval time than a dealer's in-house program.

How to apply

First, decide on the specific motorcycle model and get the all-in price, including registration and insurance, from the dealer so you know the base amount to be financed. Next, compare the down payment requirement and monthly amortization quoted by the dealer's in-house financing against any bank or financing company option available for the same unit. Then submit your ID, proof of income if required, and any requested guarantor information, and review the full payment schedule before signing the sales and financing agreement. Finally, keep the official receipt (OR) and certificate of registration (CR) details on hand and confirm who holds them during the loan term, since this affects your ability to use or sell the unit until the loan is settled.

FAQ about Motorcycle Loans

Down payments commonly range from around 10% to 30% of the unit's price depending on whether financing is arranged through a bank or the dealer's in-house program, with a lower down payment often resulting in a higher monthly amortization.
Many borrowers do finance a motorcycle specifically for delivery or similar income-generating work; however, borrowers should confirm with the financing company whether commercial use affects the loan terms or required insurance coverage.
The financing company typically retains the official receipt (OR) and certificate of registration (CR), or has the CR annotated with its lien, until the loan is fully paid, after which the documents or an unencumbered CR are released to the borrower.

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