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PROMO MECHANICS

The Chinabank AutoPlus Bundle (the “Promo”) is open to all Chinabank clients with newly approved AutoPlus Loan/s during the Promo Period (the “AutoPlus Loan”), subject to the terms and conditions below.

 

I. Qualifications

1. AutoPlus Loan clients with a minimum loan amount of P500,000.00 may be entitled to free chattel mortgage fees and free 1st year car insurance, depending on the approved loan amount.

The free insurance premium covers only the portion corresponding to the approved loan amount. Any excess in the total car insurance premium shall be paid by the AutoPlus Loan client prior to the issuance of the Authority to Deliver (ATD) form or loan release.

Vehicle Gross Price: 1,250,000.00

Insurance Premium: 35,745.26

Approved Loan Amount: 1,000,000.00

To compute for the Waived Fee:

Step 1: Approved Loan (1,000,000.00) / Vehicle Price (1,250,000.00) = 0.80

Step 2: Insurance Premium (35,745.26) * Ratio (0.80) = 28,596.21

Excess in total insurance premium to be shouldered by the AutoPlus Loan client:

Insurance Premium (35,745.26) – (Waived Fee) 28,596.21 = 7,149.05

2. AutoPlus Loan clients may be entitled to the Promo provided that they avail all of the following products and services as a bundle:

a. Chinabank Credit Card (applicable to Philippine residents only). The Chinabank Credit Card must be new, separate and distinct from any Chinabank-issued credit card that the AutoPlus Loan client may already have at the time of the AutoPlus Loan application. The borrower/co-borrower(s) must be the principal cardholder and not a supplementary or secured cardholder;
b. Comprehensive car insurance premium through Chinabank Insurance Brokers, Inc. (CIBI) (including renewals up to loan maturity);

3. To qualify for the Promo, the Chinabank AutoPlus Bundle applicant must meet the following conditions:

a. At least one of the principal borrower/co-borrower must be a Filipino citizen and a resident of the Philippines during the Promo Period and Disbursement Period.
b. The principal borrower/co-borrower(s) must submit to Chinabank the complete application requirements within the Promo Period and post-approval requirements within the Booking/Disbursement Period. In all cases, the AutoPlus Loan must be disbursed no later than August 30, 2026.
c. The purpose of the AutoPlus Loan must be any of the following:

1. Financing of Brand New Vehicle for personal use only
2. Reimbursement of Brand New Vehicle for personal use only

d. This Promo is not applicable to the following:

a. Purchase of second hand vehicle
b. Purchase of utility vehicles, light and heavy trucks, and the like used for public transport, common carrier, school service and transfer and delivery of goods
c. Borrowers with past due account status from any of the following Chinabank products: HomePlus Loan, AutoPlus Loan, or Credit Card.

4. Promo Period - All applications for Chinabank AutoPlus Bundle with complete requirements received from June 1, 2026 to August 15, 2026.

5. Disbursement/Booking Period - All Chinabank AutoPlus Bundle applications received during the Promo Period must be booked by August 31, 2026.

 

II. Terms and Conditions

1. The AutoPlus Loan and Chinabank Credit Card applications shall be evaluated based on Chinabank’s existing credit policies and standards.

2. The AutoPlus Loan shall have a minimum loan term of three (3) years and maximum loan term of five (5) years.

3. All post-approval documents and requirements must be submitted prior to loan disbursement to be eligible to avail the Promo.

4. The Borrower must maintain the loan until its full maturity in accordance with the approved loan term. In the event that the qualified borrower partially pays or fully pays the loan during the lock-in period, the qualified borrower shall be liable to pay a pro-rated computation of the waived/free chattel mortgage fees. The same condition applies to the free 1st year car insurance fee if the loan is fully paid before the loan maturity.

5. If the Borrower is found to be in violation of any of the terms of the Promo within the loan term, the Borrower shall fully and completely reimburse Chinabank for all waived bank fees and charges.

6. This Promo is non-transferrable and cannot be exchanged for cash or other items, or used in conjunction with other promotions, discounts or other special considerations, unless otherwise specified in the Promo mechanics.

7. Standard Terms and Conditions of the Chinabank AutoPlus Loan, Chinabank Credit Card, and Chinabank Insurance Broker’s Inc. shall apply.

8. In case of any dispute related to the Promo, Chinabank's decision, in concurrence with the DTI, shall be deemed final and non-negotiable.

9. By participating in the Chinabank AutoPlus Bundle, the borrower/co-borrower(s) confirms that he/she has read, understood, and agrees to be bound by the foregoing Promo mechanics.

10. For any concerns, inquiries, and requests in relation to this Promo, borrowers may use the contact channels provided below. Upon receipt thereof, Chinabank shall then conduct a comprehensive investigation in accordance with its established procedures. Thereafter, the borrowers shall be notified of Chinabank’s findings, if applicable, which findings shall be final and conclusive.

 

 

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