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Car Loan Disclosure Statement Philippines

The document discloses loan details for a car loan taken by Ronaldo Saguksok including the loan amount, other charges, documentary stamp tax, net proceeds, effective interest rate of 88%, and potential late charges. It contains signatures from the creditor and borrower to acknowledge understanding and agreement to the terms.

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Tyrone Ico
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48 views1 page

Car Loan Disclosure Statement Philippines

The document discloses loan details for a car loan taken by Ronaldo Saguksok including the loan amount, other charges, documentary stamp tax, net proceeds, effective interest rate of 88%, and potential late charges. It contains signatures from the creditor and borrower to acknowledge understanding and agreement to the terms.

Uploaded by

Tyrone Ico
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

UNITY BANK & TRUST

Your trusted partner in financial success


Magallanes St. Cebu City, 6000, Philippines

DISCLOSURE STATEMENT ON CAR LOAN


TRANSACTION
(As Required under R.A. 3765, Truth in Lending Act)
NAME: Ronaldo Saguksok
ADDRESS: A. Lopez St. Brgy. Labangon Cebu City
1. LOANAMOUNT ₱1,100,000.00

2.OTHERCHARGES/DEDUCTIONSCOLLECTED ₱21,000.00
A.AppraisalFee ₱4,500
B.NotarialFee ₱1,500
C.ProcessingFee ₱10,000
D.ServiceCharge ₱5,000

3. DOCUMENTARYSTAMPTAX(0.75%) ₱8,250.00

4. NETPROCEEDSOFLOAN(Item1lessItem2) ₱1,079,000

5. EFFECTIVEINTERESTRATE(InterestandOtherCharges) 88.00%

Explanation: The effective interest rate of 88.00% is higher than interest rate of 28% per
annum considering the loan term of 5 years.
6. CONDITIONAL CHARGES THAT MAY BE IMPOSED (if applicable). Please specify manner of
imposition:
A. Late charge (5% of the monthly amortization)

CERTIFIED CORRECT:

(Signature of Creditor/Authorized Position


Representative Over Printed Name)
For and in behalf of the company I represent, I acknowledge receipt of a copy of this statement
prior to the consummation of the credit transaction and I certify that I understand and fully agree
to the terms and conditions thereof.

(SignatureofBorrowerOverPrintedName) Date
NOTICE TO BORROWER: YOU ARE ENTITLED TO A COPY OF THIS PAPER WHICH YOU SHALL SIGN.
Notes:
This document contains the minimum information required to be disclosed to the borrower and maybe
enhanced to improve client information.
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