Loan Terms & Conditions

  1. Information Correctness, Obtainment and Retention of Information
    I hereby certify that all information herein are true and correct based on my own knowledge and further authorize SB Finance (“SBF”) to obtain information as it may require concerning my application to subscribe to this program and agree that it shall be retained by SBF subject to SBF’s data retention policy, whether my application is approved or not. Any information given by me or other persons I authorized, which is not true or accurate, will automatically cause the SBF to reject my loan or cancel it’s approval.


  1. Consent Obtainment of Other Parties Involved in the Loan
    I guaranty that I have obtained the consent of any or all persons named herein as co-maker, guarantor, surety, past employer, supplier, seller of the property, or personal reference, for all purposes necessary to this loan agreement. Any information given by me or other persons I authorize, which is not true or accurate, will automatically cause SBF to reject my loan or cancel its approval.


  1. Disclosure of Information to Third Party
    3.1 I hereby willingly, voluntarily, and with full knowledge of my right under the law, waive the right to confidentiality of information and authorize the SBF to obtain and/or disclose, divulge and reveal any kind of information relating to my account/s and/or transactions with Security Bank Corporation, its subsidiaries and affiliates, including events of default, for the purpose of, among others, client evaluation and profiling, credit reporting or verification and recovery of the obligation due and payable to SBF under the terms and conditions of this agreement.
    3.2 In view of the foregoing, SBF may disclose, divulge and reveal the aforementioned information to third parties, including but not limited to my employer, Security Bank Corporation and its affiliates, subsidiaries, agents or service providers, the Bankers’ Association of the Philippines– Credit Bureau (BAP – CB), Credit Information Corporation (CIC), TransUnion, or to any similar central monitoring entity or recipients as provided for by law and required by competent authority.
    3.3 I further authorize SBF to process, transfer, share, and disclose any information relating to my credit data, telecom or mobile usage data or “telco score” to credit info data providers or credit scoring service providers (i.e. Globe Telecom, Inc., Smart Communications, Inc., and other telecommunications service provider), for the purpose of credit verification, collection, credit review and credit scoring/analytics, and statistical and risk analysis.
  2. Verification with Bureau of Internal Revenue (BIR)
    I further authorize the SBF, as my Attorney-in-Fact, to conduct random verification with the Bureau of Internal Revenue (the “BIR”) in order to establish the authenticity of my Tax Statements (the “ITR”) and the accompanying financial statements/documents submitted to SBF in accordance with banking regulatory requirements.


  1. Access of Information by SBF Dealer Partner
    I am also fully aware that my loan information can be accessed by SBF’s dealer partner where the motorcycle unit was purchased via the SBF dealer’s agent app and that these information cannot be shared by the SBF dealer partner to other entities as provisioned in the Memorandum of Agreement (MOA) and Data Sharing Agreement (DSA) with the dealer.


  1. Liability, Claims and Demands Arising from Information Disclosure
    I hold SBF free and harmless from any and all liabilities, claims and demands of whatever kind or nature in connection with or arising from the aforementioned disclosure or reporting.


  1. Effectivity of the 2-Wheel Loan
    I hereby acknowledge that the 2-Wheel Loan or any part(s) thereof shall be deemed to have been availed on the date when the loan documents are signed and the availed Motorcycle unit is released to me by my preferred SBF’s dealer partner. The Loan Amount shall be the difference between the Suggested Retail Price of the unit availed and the Down Payment that I paid in cash to SBF’s dealer partner.


  1. Rebates
    I further authorize SBF to add a fixed amount to the net monthly amortization should I fail to pay on or before my due date. I understand that the monthly amortization indicated in my contract is already discounted or rebated with the assumption that I will pay on time on a monthly basis.


  1. Changes in the Loan Details and Loan Cancellation Prior to Loan Signing and Receipt of the Motorcycle
    9.1 I hereby agree that SBF has the right to offer a change of applied motorcycle unit with lower Suggested Retail Price or increase in the Down Payment depending on my profile and income capacity and shall render SBF free and harmless from any liability arising thereof. The said offer for changes shall be done prior to my loan signing.
    9.2 I hereby agree that SBF has the right to approve a lower amount than my desired loan amount as indicated in this application and shall render SBF free and harmless from any liability arising thereof.
    9.3 I am fully aware that I can cancel this loan application anytime prior to loan signing. After the loan signing and receipt of the motorcycle, any loan cancellation request from my end for whatever reason shall require investigation and approval from both SBF and SBF’s dealer partner. Disapproval of loan cancellation after loan signing and receipt of the motorcycle unit shall render SBF free and harmless from any liability arising thereof.


  1. Expiration of Loan Approval
    I am fully aware that the approval of my loan application is effective within 45 days starting the date of approval. If I fail to avail the loan within the said period, the approval of my loan will expire. After expiration and I decide to continue the loan, I understand that I need to apply again.


  1. Reason of Loan Disapproval and Return of Documents
    I hereby agree that should my application be denied, SBF has no obligation to furnish the reason for such rejection or to return my application and other submitted documents.


  1. Terms and Conditions in all Loan Documents
    I also legally bind myself to the Terms and Conditions of the Loan Program Promissory Note and Security Agreement, Disclosure Statement and other relevant documents that I shall execute in favor of SBF.
  1. Data Privacy
    I have read and accepted privacy notice ( and understand that the SBF recognizes my rights as data subject under the Data Privacy Act of 2012. I hereby give consent to the collection, processing, use, sharing and retention of my personal data for purposes of obtaining the loan and all other ancillary services necessary for the maintenance of my account/s and collection of payment. Subject to remain in effect or five(5) years after account closure, I hereby give my consent for SBF to share and process my personal information and any other information relating to my account/s and /or transactions to any member of the SBC Group (Security Bank Corporation and its affiliates and subsidiaries reported as part of SBC’s conglomerate map group structure as defined under BSP Circular 749) and Bancassurance companies or their authorized Service Providers and representatives, for purposes of cross-selling products and services, profiling and credit evaluation/reference checks, audit and account balance confirmation and allow them to contact me for this purpose (i.e. by email, telephone, text, etc.) or in case of audit where my account/s is/are chosen as sample for account balance confirmation.
    I do not agree to have my account/s used for purpose of cross-selling products, profiling and credit evaluation/reference checks, audit and account balance confirmation.