SB Finance Allows Borrowers to Pawn a Car OU/CR – Manila Bulletin

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Security Bank Corporation’s consumer finance arm, SB Finance Corporation (SBF), has launched a car title loan that offers vehicle owners quick access to cash in exchange for GOLD/CR ( official receipt and registration certificate) of their car.

In a statement, the bank said Car4Cash will enable borrowers to avail up to 2 million pesos with a competitive low interest rate of just 1.25% and flexible payment terms of 12 to 36 months.

A very successful loan product in Thailand, SBF is bringing Car4Cash to the Philippines through its joint venture with Bank of Ayudhya (Krungsri).

SBF leverages Krungsri’s risk management expertise and SBC’s knowledge of the local market to provide an attractive loan offering to Filipinos who need cash quickly when needed.

Car4Cash requires borrowers to submit their OR/CR ​​in a safe place, while allowing them to keep their vehicles for the duration of the loan.

“A key competitive advantage of Car4Cash is that we only keep customers’ GOLD/CR safe and don’t encumber them,” said Abbie Casanova, President and CEO of SB Finance.

She added, “We want customers to feel confident that their vehicle remains their property while they use the funds they receive from our loan product to finance their needs, whether it’s renovation, expansion of their business or increased financial liquidity.

Car4Cash offers a simple application process with competitive advantages. Interested applicants simply need to complete an application form, submit a copy of their OR/CR ​​and wait 1-2 days for processing, vehicles up to 10 years old are accepted.

“Helping Filipinos recover from the pandemic is a key part of all the products we plan to launch for SB Finance,” Casanova said.

“With Krungsri’s risk management expertise and SBC’s knowledge of the local market, we have specifically developed and designed the Car4Cash car loan product to meet the needs of customers in the Philippines,” said Pairote Cheunkrut. , Chief Strategy Officer of Krungsri.

He noted that “Since 2020, our team at Krungsri Auto has been working closely with SB Finance to gather customer insights from the Philippines and share our best practices from Thailand, especially in terms of product design and development. infrastructure, all of which have been customized. to suit the Philippine market.


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