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In this article you will learn what motorcycle loans are and how to choose the right loan company. If you only want to repair the motorcycle or upgrade it, we recommend fast Digido loan up to 25,000 pesos. Digido approves over 90% of loans.

Motorcycle Loan in the Philippines

Last updated: October 25, 2022

Written by: Sean Martin D. Plantado | Reviewed by: Rafael Hular

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.

Owning a car is considered a luxury in the Philippines. Aside from skyrocketing gas prices, dealing with traffic jams and car maintenance costs may prove too much for the average Filipino. That’s why a majority of us would still prefer to ride public transportation on our way to our destinations, while some would take the risk and hop on a motorcycle.

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, and do not take up too much parking space.

During the pandemic, more Filipinos considered bikes and motorcycles in exchange for cars and public transport. Ever since the Department of Transportation (DOTR) lifted the enhanced community quarantine (ECQ), many had considered these two-wheelers for transportation. Commuting via jeepneys, buses, and the like has now limited capacity to encourage social distancing.

Coping with the new normal, 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?

What to Choose: Bike or 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?

Deciding whether to get a bicycle, a big bike or a small bike motorcycle varies on your preferences. You need to list down the important factors that could affect your decision. Determine your purpose as well as your location and available parking space.
Nonetheless, your intention is probably for your safety because of the pandemic. Commuting in public transport is risky nowadays. You should also take into consideration the area  you live. Are the roads good for bikes or motorcycles? Do you have appropriate parking space for your two-wheeled vehicle?

If you have already decided which one to get, the next big question is how will you finance it?

→ Also read all about Phone Loan


  • 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.

How to Apply for a Motorcycle Loan?

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. 

The National Bicycle Organization and Home Credit offers bike loan programs suitable for Filipinos looking for flexible monthly payment. The National Bicycle Organization (NBO) promotes bike commuting to Filipinos as an alternative way of transportation. In 2018, they launched the NBO Bike Loan Program in partnership with Rizal Prime Consumers Cooperative (RPCC). 

The program offers more affordable motorcycles in the Philippines 2021 with 0% interest rates. The payment terms range between 3 to 24 months for as low as PHP 300 monthly payment. However, RPCC prioritizes the members of NBO.

On the other hand, Home Credit does not require any membership to get a bike loan. You can get a Home Credit Bike Loan if you:

· are a Filipino citizen whose age is 18-68 years old;
· have two valid IDs;
· have a reliable source of income.

You can use the motorcycle loan calculator on their website to check the payment options you prefer. Home Credit doesn’t limit the applicant’s choice of bike brands. But they demand to purchase the bike in their partner stores.

It might be easier to get a motorcycle loan Ph because bicycles are more affordable than motorcycles. But when it comes to usage, bicycles have limited places to go. With motorcycles, you can go to farther places because they have engines equipped to ride along with other four-wheeled vehicles. Plus, most roads nowadays are more appropriate for motorcycles than bikes, particularly in urban areas.

If you are looking for a better alternative mode of transportation, getting a motorcycle is the best option to choose.

→ Also learn more about Student Loan

Useful Tips for Choosing for a Motorcycle Loan Philippines 2022

When looking for ways to finance a motorcycle, it is always advisable to follow these simple steps:

1. Go for a motorcycle window shopping. Check the type of motorcycle you want to buy thoroughly. Consider your options for buying a used motorcycle.

2. Research for motorcycle loans or big bike loans available online. Due to the pandemic, most of the motorcycle financing companies in the Philippines provide online loan applications. It’s now easier to research all types of loans, including how to get a big bike loan in the Philippines.

3. Select 3 moto loan programs that you think suit your financial needs. Make inquiries about their customer service if necessary. Weigh in the factors that can influence your decision, then choose the best among them. Find out if down payment is necessary and what interest rates are offered by different companies. Your chances increase if you have a good credit rating.

4. Complete the requirements. Take note of all essential information such as the interest rate, payment loan term, mode of payment, and the loan conditions. Finally, choose which motorbike you want to buy.

I want to borrow ₱ 10000
Min: ₱ 1000
Max: ₱ 20000
Payment Terms 10 days
7 days
21 days
My Monthly Gross Income ₱ 20000
You return*: 10 000
All your data is under secure protection!
We recommend taking a loan!

* Interest payments are approximate. The final loan amount and interest rate must be confirmed in your loan agreement after loan approval.

→ Also read all about Easy Loan Ph

Motorcycle Loan Requirements

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.

→ Read about OFW Loan fast release in the Philippines

The Best Motorcycle Loans in the Philippines

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

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 motorcycles loan, the answer is no. Security bank does not lend on second hand motorcycles, only on new models of 400cc and above.

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 

Robinsons Bank

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, or second-hand unit. Down payment and loan terms varies. 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.

But take note that the additional Robinsons bank motorcycle loan requirements differ depending on your employment status. Robinsons bank loan calculator 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 payments at Robinsons bank site.

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

City Savings Bank has a motorcycle loan program that offers two types of features: two-wheeler and three-wheeler. 

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 requirements 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

→ Learn more about bad credit loans 100% approval

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 Big Bike Loan is available for those who are employed, self-employed and working overseas. 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

Bank of Makati motorcycle loan

Bank of Makati provides motorcycle loans, but only to customers of its subsidiary Motortrade. 

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 Will depend on the age of the motorcycle or vehicle

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, 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 30,000 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%

As you can see, BPI requires a minimum household income of Php 30,000 per month. Alongside the add-on rates and effective rates, you might want to consider other options for motorcycle loans, even if BPI allows for a Php 200,000 minimum loan amount.

Apply now

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.

All operations are performed online - you don't have to leave your house
In only 4 minutes you can receive up to 5000 pesos in your bank account
We don't require guarantors representation, documentation, or guarantee deposits.
The service is fully automated

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!

For first-time borrowers, you can apply for a loan up to PHP 10,000 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. You also don’t need a bank account to take a loan. Check out more information about it by visiting Digido’s official website.

Apply now

Digido Reviews

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Written by: Sean Martin D. Plantado

Author pages:
Sean Martin Plantado is the head of Customer Care Dept. and Online Sales Dept. of Digido Finance Corp. creating articles, blogs, and other learning mediums that helps Filipinos struggling on their financial literacy. Sean also loves Cycling, Photography, Cinematography, Online gaming, Fine Arts, and dreams of becoming a Doctor of Veterinary Medicine.

Reviewed by: Rafael Hular

Author pages:
Rafael “Raffy” L. Hular is, the Finance and Accounting Manager. of Digido Finance Corp., monitoring and controlling the flow of cash that comes in and out of the company to meet the company’s business needs, preparing the financial reports and analysis of income and expenses, and monitoring tax compliance.  Raffy loves reading Japanese comics called manga and watching Japanese animated cartoon series. He dreams of establishing his own Accounting and Auditing Firm and teaching in a University.