Motorcycle Loan in the Philippines

Last updated: April 11, 2024
Written by: Digido Financial Writers Team | Reviewed by: Anna Kireeva

Key takeaways:

  • Motorcycle loans come in different flavors and depend on which bank you choose.
  • Choose the best motorcycle loan in the Philippines in the list we provided you with.
  • If your bank says no, get a motorcycle loan from Digido.
How much money do you need?
10 000
min ₱ 1 000
max ₱ 10 000
You will have to return*: 10 000
All your data is under secure protection!
*Interest payments are approximate. The final loan amount and interest rate must be confirmed in your loan agreement after loan approval

Who can get a Digido loan?

You are 21-70 years old
You are a Filipino citizen
You have a valid government ID

For Filipinos earning an average income, owning a motorcycle is the best substitute for a car or public transportation. Unlike cars, motorcycles have lower maintenance costs, are somewhat more fuel efficient, do not take up too much parking space and can take you faster from one place to another.

In 2022, there were 7.81 million registered motorcycles and tricycles in the Philippines. [1] For the year 2023, MDPPA is eyeing a growth of 10% or a total collective sale of 1.72 million motorcycle units. [2]

Buying a bike in full payment may not be very ideal for Filipinos who are earning an average income. If you are one of those, and you have a short budget, you can get a loan to finance your ideal bike.

Get a personal cash loan for any purposes!
  • 0% interest for first loan
  • Apply using only 1 valid ID
  • Up to PHP 25,000 in just 5 minutes


If you’re considering buying a motorcycle, this article provides essential information on obtaining motorcycle loans in the Philippines. Whether you’re an experienced rider or new to the world of two-wheelers, read through for valuable insights and practical advice to help you make an informed decision and get the best deals

Benefits of Motorcycle Loan for Filipinos

👉 Simplified application process
Getting a motorcycle loan in the Philippines is often a straightforward and speedy process. Many banks offer motorcycle loans with simplified application procedures; some lenders even offer an online loan application. This means you can complete the necessary paperwork and get approval relatively quickly, allowing you to acquire your dream motorcycle sooner.

👉 No need for you to withdraw your emergency funds
By opting for a motorcycle loan, you can preserve your savings and emergency fund for other essential expenses and unexpected emergencies. Instead of depleting your financial reserves, opt for a motorcycle installment to spread the cost of the motorcycle over a period of time, making it more manageable for your budget.

👉 Competitive low interest rates
Financial institutions often compete to attract borrowers by offering competitive interest rates on installment for motorcycles in the Philippines. Depending on your creditworthiness and the lender’s policies, you may qualify for a low-interest rate, which can save you money in the long run.

Motorcycle Loan Interest Rates

Motorcycle loan interest rates vary depending on the bank you choose. Typically, they fall in the range of 3% to 8%. While a few lenders may offer a motorcycle installment with 0% interest, these are not very common.

To determine the most suitable rate for your budget, many banks providing motorcycle loans or big bike loans offer a loan calculator. This tool helps you estimate your monthly payments and annual costs, providing a clearer picture of your financial commitment and how to compute your motorcycle installment in the Philippines.

Motocycle loan

Requirements for a Motorcycle Loan in the Philippines

In the Philippines, most financing institutions have the same motor loan requirements. A lot depends on whether you choose a new or used motorcycle. Your chances increase if you have a good credit rating. Generally, these are:

  • The applicant should be a Filipino citizen whose age is 21 years old or above;
  • Currently employed or has a reliable source of income;
  • Have valid IDs.

Each bank financing motorcycle may have different qualifications and requirements, so you need to keep them in mind. Considering these can also influence your decision in choosing for a motorcycle loan program that suits your goal.

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Where to Get a Motorcycle Installmet in the Philippines

In the Philippines, you can obtain a motorcycle loan from various financial institutions. Many major banks in the Philippines offer motorcycle loans. Visit their branches or check their websites for information on their loan offerings, interest rates, and application procedures. Often, motorcycle dealerships also have partnerships with banks or financing companies to help customers secure loans for their purchases.

What to do if the Bank Declined a Motorcycle Loan?

Unfortunately, motorcycle loan providers can easily deny you a loan. For example, it could be because you don’t have a guarantor, your lack of stable income, or because you don’t have a good credit history. In the event that your motorcycle loan application gets denied, where else can you apply? One of the best options you can consider is getting a quick online cash loan.

Here, in the Philippines, it is now simple and easy to get a quick cash loan for your dream motorcycle with Digido! Digido has a fast approval process with very minimal interest rates!

Digido Valid ID's

Here are some benefits of Digido for your comfort perfect loan for any purpose:

⭐️ We only require one government ID
⭐️ 0% interest rate for first-time borrowers
⭐️ No collateral or guarantors required
⭐️ You can get up to PHP 25,000 in just 30 minutes
⭐️ Get money even without a bank account and with GСash
⭐️ Simple online application: just click on Apply Now button and choose the amount

Apply now

For first-time borrowers, you can apply for a loan up to PHP 10,000  with 0% interest, while repeat borrowers can avail up to PHP 25,000!  You don’t have to worry about the requirements as they can accept just your government-issued ID.

Who is eligible for a Digido loans?

You are eligible for a Digido loan if you meet the following criteria:

  • You are a Filipino citizen between 21 and 70 years old with a valid Government ID.
  • Your mobile phone number is active and not blocked.
  • You have completed the registration process on our website.

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 motorcycle installment

The Best Motorcycle Loans in the Philippines 2024

For the record, among are the best banks that offer motorcycle loans in the Philippines:

Security Bank
✅ Robinsons Bank
✅ City Savings Bank
✅ Asia United Bank (AUB)
✅ Bank of Makati
✅ Bank of the Philippine Islands (BPI)

Also previously available to Filipinos was Metrobank motorcycle loan, but now Metrobank only gives personal loans.

They are the top three companies that provide the lowest motorcycle loan interest rates in the Philippines. Each of them can help you buy a motorcycle. To give you an idea, here are some of the essential conditions of a bank loan for motorcycle programs:

Security Bank Motorcycle Loan

Security Bank offers big bike loans in the Philippines with a low interest rate. Down payment and loan term varies from each other. The applicant can be an individual or a company. For an individual applicant, the necessary documents needed are as follows:

  • Filled out and signed loan application form
  • Copy of valid government-issued ID
  • Latest BIR Form 2316, or:
  • Latest three months’ pay slip
  • Certificate of Employment
  • Employment Contract for OFW

Security Bank motorcycle loan calculator will be available on their website and available for use. If you are wondering if there is a Security bank used motorcycle loan, the answer is no. The Security Bank motorcycle loan is for new models of motorcycles 400cc and up only.

🟣 Loan amount Minimum Php 300,000, maximum of up to 70% of purchase price
🟣 Payment terms 12 to 36 months
🟣 Downpayment  As low as 30% of purchase price
🟣 Interest rate 12 months: 8%

18 months: 12.01%

24 months: 16.96%

36 months: 26.05%

🟣 Approval time 1 banking day
🟣 Payment method Auto-debit 

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SB Finance MotorsikLOAN

MotorsikLOAN is a loan option available to employed or self-employed individuals who want to buy either a new or used motorcycle from SB Finance. New motorcycles are bought from dealer partners, while used ones come from the repossessed units of SB Finance.

SB Finance MotorsikLOAN, on top of offering one of the lowest motorcycle loan rates in the Philippines, boasts the following loan features for their bank motorcycle loan:

  • Hassle-free loan application process;
  • Affordable monthly payments – interest rate for as low as 1.25%;
  • Easy documentary requirements
  • Fast processing (as fast as 2 hours)

The loan calculator is conveniently available on the SB Finance website, as well.

SB Finance MotorsikLOAN
🟣 Loan amount Up to P2 Million
🟣 Payment terms 12, 18, 24, 30, 36 months for regular
and medium motorcycles48 months for high-end units
🟣 Interest rate 1.2% for medium/high-end & 2.47% for regular motorcycles

Robinsons Bank Go! Motorsiklo Loan

Meanwhile, Robinsons Bank offers different motor loan features in the Philippines with a low interest rate. You can choose to get a motorcycle loan for a regular / solo bike, big bike loan, or second-hand unit loan. Down payment and loan terms vary. For the individual application, you need to secure the the following:

  • Filled out and signed Robinsons motorcycle loan application form
  • Copy of government-issued IDs
  • Proof of billing.

Take note that the additional Robinsons Bank motorcycle loan requirements differ depending on your employment status. Robinsons Bank loan calculator is available on their website for a more accurate calculation of payments is available on the bank’s website.

  • If locally employed, you also need to submit your latest one-month pay slip or certificate of employment, photocopy of government-issued IDs, and proof of billing.
  • If self-employed, submit your latest three-month bank statements, your DTI registration, photocopy of government IDs, and proof of billing.
  • If an OFW, submit a copy of your employment contract, latest three-month proof of remittance, photocopy of government IDs, and proof of billing.
  • If a partnership or corporation, submit the latest three month bank statements, latest GIS, income tax returns (ITR) & audited financial statements (AFS) for the last three years.

You can check out their own loan calculator for a more accurate calculation of motorcycle monthly installments at Robinsons Bank’s website.

ROBINSONS BANK Go! Motorsiklo Loan
Loan amount Regular/solo bike: minimum of 10% based on suggested retail price (SRP)

Big bike: minimum of 30% based on SRP

Second-hand unit: minimum of 8% based on SRP

Loan terms Six to 36 months 
Interest rate Will depend on the unit’s selling price, downpayment, and amount financed

City Savings Bank Motorcycle Loan

City Savings Bank has a motorcycle loan program that offers two types of features: two-wheeler and three-wheeler, with engine capacity not exceeding 400cc.

According to their website, the bank finances motorcycles from top Japanese brands and you don’t have to open a bank account in order to avail of the motorcycle loan! You can even avail of a rebate as long as you pay your amortization on time!

To apply for a City Savings Bank motorcycle loan, you must be at least 21 years old but not more than 65 years old upon loan maturity. There are different motorcycle installment requirements in the Philippines and below are for a City Savings Bank motorcycle loan:

  • If you are employed, present 1 government ID and certificate of employment or latest payslip.
  • If self-employed, present 1 government ID.
  • If you’re a pensioner, present 1 government ID and statement of account with at least 1 month pension credit.
  • If you’re a sole proprietor, present 1 government ID, a copy of the business permit and DTI permit.
  • If a corporation, present SEC registration, articles of incorporation, board resolution, business permit, and audited financial statement.
  • If you’re receiving remittances, present 1 government ID and at least 2 months’ proof of remittance within the past 6 months.

City Savings Bank also has a motorcycle loan calculator available on its website.

Loanable amount Php 20,000 to Php 30,000, equivalent to selling price minus downpayment
Loan terms Two-wheeler motorcycle: 6 to 36 months

Three-wheeler motorcycle: 6 to 48 months

Downpayment  Two-wheeler motorcycle: minimum of 5-8% depending on selling price

Three-wheeler motorcycle: minimum of 10% depending on selling price

Processing time Depending on what time of the day the loan was endorsed
If morning – within the day
If afternoon – the next day until 12 noon

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AUB big bike loan

Hurray for the big bike lovers! With Asia United Bank, you can now have your dream big ride!

AUB Big Bike Loan is available for those who are planning on buying motorcycles that are 400cc and above. The AUB Big Bike Loan is available for those who are employed, self-employed and working overseas. Motorcycle loan requirements include two valid government IDs with photo and signature and latest proof of billing under your name.

  • If you’re locally employed, present your latest income tax return or BIR Form 2316 or latest 3 month payslips.
  • If self-employed, present the latest audited financial statements for the last 2 years, latest ITR/BIR Form 2316, bank statement/passbook copy for the last 3 months, and certificate of business registration with DTI or SEC.
  • If OFW, submit proof of remittance for the last 3 months, latest crew contract duly authenticated by the Philippine Consulate (for OFWs), and consularized special power of attorney.
Loanable amount No less than Php 200,000
Interest rate 0.54% per month
Loan terms 12 to 36 months
Minimum Downpayment 30%

Bank of Makati Motorcycle loan

Bank of Makati provides motorcycle loans, with units available nationwide through affiliate dealers Motortrade and Honda Prestige.

They also offer the Expanded Motor Loan, which is technically not a loan for buying a motorcycle. Rather, the Expanded Motor Loan allows you to apply for a loan while putting up your motorcycle or vehicle as collateral.

Loan amount Motorcycle: Php 10,000 to Php 50,000

Car: Php 50,000 to Php 500,000

Loan purpose Multi-purpose 
Loan terms Six (6) months minimum to up to three (3) years maximum

BPI motorcycle loan

Go on priceless adventures on your dream big bike with BPI Auto Loan!

In order to qualify for a BPI Auto Loan, covering a big bike loan in the Philippines, you must be at least 21 years old but not older than 70 years old upon loan maturity, and must have a minimum household income of Php 40,000 per month. You must submit an accomplished application form and two valid IDs. Additional signatures and forms are needed if you’re married or have a co-borrower

Loan amount Minimum of Php 200,000

Maximum: up to 70% of purchase price

Loan terms 1 year to 3 years
Add-on rates 12 months: 8.83%

18 months: 12.57%

24 months: 17.54%

36 months: 27.84%

Effective rate 12 months: 15.92%

18 months: 15.33%

24 months: 16.02%

36 months: 16.72%

They also boast a low cash out using their payment features Step Up PayPlan, Multi Year Protect Program, and Zero Cash Out.

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How to Apply for a Motorcycle Loan?

  1. Know If You’re Eligible. Before you start the motorcycle loan application process, it’s essential to determine if you meet the eligibility criteria set by the lender. Typical eligibility factors include your credit score, income, age, and employment status. Ensure you meet these requirements to increase your chances of approval.
  2. Collate and Double-Check Your Requirements. Gather all the necessary documents and information required for your loan application. Common documents include proof of income, identification (such as a driver’s license), proof of residence, and the details of the motorcycle you intend to purchase. Double-check that all your documents are accurate and up-to-date to prevent any delays in processing.
  3. File Your Application. Once you’ve confirmed your eligibility and assembled the required documents, it’s time to submit your loan application. You can usually do this online through the lender’s website or in person at a bank or credit union. Complete the application form accurately, providing all requested information and supporting documents. Be prepared to disclose your financial information, employment details, and the specific loan amount you’re seeking.
  4. Wait for the Approval. After submitting your application, the lender will review your financial profile, credit history, and the motorcycle’s details. This process may take some time, so be patient. During this waiting period, it’s crucial to maintain open communication with the lender and be responsive to any requests for additional information or clarification. Once your loan is approved, you’ll receive the loan terms, including the interest rate, repayment schedule, and any applicable fees. Carefully review these terms before accepting the loan offer.

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How to Choose the Best Company for a Motorcycle Loan

Obtaining a motorcycle or bike loan in the Philippines requires careful consideration to ensure you get the best value.
You can seek recommendations from family and friends who have previously taken out loans, gathering insights on banks, down payments, and interest rates for comparison.
Examine the interest rates to secure lower rates. Banks mostly advertise their competitive interest rates in their website so this should be accessible to you.
Assess the bank’s reputation and loaning track record, and one that will offer you the most convenience.

Apply now

What to Choose: Bike or Motorcycle?

Shifting to bikes or motorcycles is not a problem for those who already have them. But if you’re among those who don’t own one yet, choosing between a bike or motorcycle may probably cross your mind. So, let’s take a better look at what suits you best: a bike or a motorcycle?

Before anything else, let’s point out the differences between the two. And obviously, the main distinction is the engine. Bicycles or bikes have no engines. It functions only on how much energy the rider exerts in the pedals. While motorcycles have engines powered by gas or electricity (if it is an electric-powered motor).

Their weight and cost also differ. And even though they are both equipped with gears, bikes can have 1 to 21 gears or more. Meanwhile, motorcycles have 4 to 6 gears. This is the reason why their attainable speeds vary from each other. Motorcycles also have various types.

There are big bikes and small bike motorcycles. Although they both share almost the same usage, small bike motorcycles are heavier and more powerful than small bikes. Generally, big bikes are great for spirited riding. However, practically speaking, small bikes are more budget-friendly. They typically cost below six-digit figures. Additionally, they are more fuel-efficient than big bike motorcycles. When it comes to the similarity between bicycle and motorcycle, of course, you need to wear a helmet. There is no difference in the case of turning as both have brakes and gears. You can press the handlebar in the direction you want to go.

So, which one is the best for you?

Choosing between a bicycle, a big bike, or a small motorcycle depends on your individual preferences. It’s essential to identify the key factors that might impact your decision-making process. Consider your intended use, your location, and the available parking facilities.

However, your primary concerns are likely centered around safety and convenience. With the current risks associated with public transportation, your well-being is a top priority. Additionally, it’s crucial to assess the suitability of the roads in your area for bikes or motorcycles and whether you have adequate parking space for your two-wheeled vehicle.

Get a quick cash loan with Digido!
Apply using 1 valid ID only

Useful Tips for Choosing for a Motorcycle Loan Philippines 2024

  1. The larger the down payment, the better
    Before applying for a motorcycle loan in the Philippines in 2024, consider using your own savings for the down payment. Banks often cover 70% of a bike’s cost, especially for high-end models. Paying a larger down payment, around 40% to 50%, can help reduce your loan amount and, consequently, lower your monthly payments and interest costs. This responsible financial move can also make you a more attractive candidate for loan approval.
  2. Evaluate your motorcycle loan options
    Don’t rush into the first motorcycle loan offer you come across. Take the time to compare different loan providers and their terms. Interest rates, loan tenures, and additional fees can vary widely among lenders. Use online loan comparison tools or consult with financial advisors to find the lowest interest on motorcycle loans in the Philippines that suits your budget and needs.
  3. List down all your questions to your lender
    Don’t hesitate to ask your prospective lender all the questions you have about the loan terms and conditions. Seek clarity on interest rates, penalties for early repayment, and any hidden fees. Make sure you fully understand the loan agreement before committing to it. Clear communication can help you avoid surprises down the road.
  4. Seek advice from your family and friends
    Reach out to your family and friends who may have experience with motorcycle loans. They can provide valuable insights on requirements for motorcycle installment in the Philippines by specific providers, share their experiences, and recommend reputable lenders. Personal recommendations can help you make informed decisions and potentially find trustworthy loan options.

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  • 🟣 What is a good interest rate on a motorcycle loan?
    For borrowers with a good credit rating, the average APR will be between 6.0% and 10.0%. If the credit rating is below average, the APR will be just over 20%.
  • 🟣 What kind of loan can I get for a motorcycle?
    A motorcycle loan is a secured loan, that is, the motorcycle acts as collateral. But if that option doesn't suit you, you can apply for an unsecured loan for urgent needs and buy a motorcycle.
  • 🟣 Is a Motorcycle loan safe?
    Yes, if you get it a verified bank with a state license.
Disclaimer and Editor’s note


Digido Financial Writers Team is a team of experts in the field of finance and credit, specializing in writing articles for Digido blogs.
Anna Kireeva
Author pages:
Anna is a marketing communications professional who specializes in digital marketing strategies and long-form content.

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  • Rey
    When I was denied a bank motorcycle loan application, as I intended to buy a used one for work, I applied to Digido. Here they issue quick loans, enabling me to secure motorbike on the very same day. It's undeniably convenient.
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