The pandemic has pushed the financial limits of people worldwide, including Filipinos with many of them losing their jobs. But what pushed people over their limits were unexpected expenses like medical bills, utility bill payments, and tuition fees. For most of these unplanned expenses, their only resort is to apply for a loan from financial institutions. In these trying times, Filipinos need a bank they can trust to help them with their financial needs, like Asia United Bank, which has been serving the Filipinos for many years.
Bank services
Asia United Bank Corporation is a registered bank under the Securities and Exchange Commission (SEC) and began its operations on October 31, 1997, and was first granted a license to operate as a commercial bank. In 2012, however the Bangko Sentral ng Pilipinas (BSP) granted AUB an expanded commercial banking status. Not long after that, on February 28, 2013, under MB resolution number 356, it received authority to operate as a universal bank.
AUB and its subsidiaries provide a wide range of banking and other financial products. It includes corporate and consumer loans, deposits products, investments, credit cards, and other services. There are over 200 branches nationwide, making it easy for Filipinos to access their banking services.
The company’s vision is to be the bank of choice of every Filipino with the goal of providing innovative products and services that will drive total customer satisfaction.
Their registered and principal executive office is located at Joy-Nostalg Center, 17 ADB Avenue, Ortigas Center, Pasig City. For customer inquiries and questions, their customer contact center may be contacted at the following contact methods:
Telephone: (02) 8631-3333 / (02) 8638-6888
Email: [email protected]
Driving your own car is a necessity whenever we talk about the big city traffic and ensuring the comfort and safety of your family when traveling. With AUB, there are four motor vehicle loan options: Auto Loan, Big Bike Loan, Truck Loan, and Forklift Loan.
Borrowers can choose brand new locally assembled motor vehicles, brand new selected imported cars, and acquisition of used cars under the Motor Vehicle Loan. Those who prefer to ride big bikes may also apply for financing, provided that the big bike has an engine size of 400cc and above. Companies and entrepreneurs may choose to expand their operations and purchase new vehicles be it a brand new light truck or a forklift for heavy loads.
To apply for a loan, borrowers must take note of the following requirements upon loan application through the branches:
Employed
Self Employed
Partnership
Corporation
AUB’s Home Loan is designed to help Filipino families turn their dream of having a permanent home into a reality.
Following are what borrowers can expect when they apply for a Home Loan:
Loan Amount: Minimum loan amount of Php 1,000,000 to up to 80% of the appraised value
Interest Rate:
Loan Term:
Repayment Option: Auto Debit Arrangement (ADA)
Those who are ready to start turning their dream homes into reality can prepare the following requirements to be submitted along with the application form to the nearest AUB branch:
Basic Application Requirements
Income Requirements
Employed:
Self Employed:
AUB currently has two salary loan products that borrowers can choose from Seafarer’s Loan and Cashelp.
This type of loan is a multi-purpose loan exclusively offered to Filipino seafarers to address their short-term financial needs.
Loan Features
Loan Amount: up to Php500,000
Loan Term: up to 10 months
Eligibility
Requirements
Cashelp is a multi-purpose salary loan available to employees whose employers are accredited companies by AUB. Through Cashelp, borrowers can apply for a loan based on the amount of salary that they are receiving. In the same way, the loan payments are deducted right away from their salaries.
Borrowers can apply for a loan through the AUB app allowing them to access funds immediately at any time of the day without having to visit the AUB branches.
Companies in need of financing to support the operations of their business or grow their current operations can avail of the following commercials loans from AUB: Short-Term Loans, Long-Term Loans, Domestic Bills Purchase Line, Foreign Bills Purchase Line, PDC Discounting Line.
This loan is ideal for business needs that can be repaid within 1 year or less. Companies that need additional working capital requirements can apply for a short-term loan, which is denominated in peso and dollar.
Businesses that need to purchase additional machinery, heavy equipment, or need the capital for business expansion can go ahead with a long-term loan and repay the loan within 3 years to 7 years.
Through this, businesses no longer have to wait for the clearing of checks or drafts issued in favor of the business. They can get the money in their accounts right away.
Much like the domestic bills purchase line except that the drafts are dollar-denominated or third-currency-denominated.
This is another way for businesses to immediately raise funds by discounting Post Dated Checks (PDCs).
Credit Cards are essential for personal and commercial use, allowing people to move more freely without carrying a lot of cash with them. In addition to that, they can enjoy promos, discounts, and rewards for simply using the card.
AUB offers the following credit cards:
For more detailed information on each card type, borrowers can visit the AUB website and look for the fees, charges, and other pertinent information.
Although Asia United Bank has only been in the country for over two decades, they stayed committed to becoming the bank of choice of many Filipinos, as evidenced by the continued expansion of the business in the country, being granted a commercial banking license to a universal banking license within only two decades. Among the many reasons why Filipinos must choose AUB is the following:
AUB has more than 200 branches nationwide. This means that even when some of their products and services are not available through mobile banking, their customers can easily find them and transact business through the branches.
Filipinos love motorcycles because it is the most convenient way to get through traffic and is less expensive than driving four-wheeled vehicles. AUB offers the best deals on big bikes with interest rates from 0.64% to 0.54% per month to make it more affordable for Filipinos.
Filipinos will need financing at one point in their lives, and when they do, they will need a bank that they can trust and provide them with exactly what they need. AUB offers multiple loan options for a person’s financing needs ranging from Home Loans, Auto Loansandto Salary Loans. In the same way, businesses can also avail of the financing products that AUB offers, whether for short-term financing or long-term financing.
Borrowers can apply for only two loan products using the AUB mobile banking app: Motor Vehicle Loan and CASHelp. The rest of their loan products need to be applied for at any of their 230 branches nationwide.
To start the loan application, borrowers can visit the AUB website and download the loan application for the product that they wish to apply to. On the website, click on Loans and select the type of loan that you want to apply for.
Once the type of loan is entered, click on Apply Now as shown below. You will then be taken to a different page where you can download the loan application document.
Home Loan Application
Borrowers can fill out the home loan application and prepare the requirements before visiting the branch. Once there, they only need to submit the form along with the documents and wait for the loan approval, which typically happens within 3 to 5 banking days.
Motor Vehicle Loan and Salary Loan
The borrowers will be asked to submit the following form when applying for a motor vehicle loan or a salary loan.
Once the information is submitted, wait for AUB to call you back and provide you with the next steps to take to complete the loan application process.
Commercial Loans
Entrepreneurs or company representatives will have to visit the branch or contact their bank relationship manager for complete details on the loan application process.
Asia United Bank (AUB) provides possibilities because of the products and services they offer for millions of Filipinos nationwide. With AUB, Filipinos can achieve their goals and cover all their financial needs. With more than 230 branches nationwide, they stay true to their mission of achieving total customer satisfaction through innovative products, convenient banking experience, and superb customer service.
״The secret of happiness, is not found in seeking more, but in developing the capacity to enjoy less״ - Socrates
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״The secret of happiness, is not found in seeking more, but in developing the capacity to enjoy less״ - Socrates
Table of Contents
Share this article:
״The secret of happiness, is not found in seeking more, but in developing the capacity to enjoy less״ - Socrates
