The Easiest Collateral Loan (Sangla OR/CR)

Lulu Tamboboy

Car Collateral Loan Finance

Jun 21, 2021

There will always be a time when one needs some cash due to an emergency but unfortunately, little to none is available at the moment. However, you have some assets that you can use as collateral. But, what is a collateral loan? What does it take to avail one?

What’s the Purpose of Collateral?

A collateral is a property, an asset, or something of value that you own which can be used to secure a loan. When you use collateral to borrow money from a lender, you agree to give them the right to seize your property when you fail to pay them back or default the money you own. It is a type of security for the lender as well as a guaranteed approval for the borrower.

Since a collateral loan is risk-free, you can gain more benefits as a borrower compared to unsecured loans. Aside from the approved loan being based on the value of the collateral, it’s also possible for you to avail a higher amount with a lower interest rate.

Various Collaterals You Can Use

There are many types of collateral a borrower can use to get a loan. Some of these assets include:

  • Private vehicles
  • Real estates
  • Machinery and equipment
  • Investments, stocks, bonds, etc.
  • Insurance policies
  • Valuables, collectibles, and others

But, which of these assets are the easiest to get a collateral loan?

Most of the time, borrowers would step into banks or dealers and get stressed with the long and complicated process. As one of the most trusted non-bank lending institutions in the Philippines, we, at Global Dominion, could confidently say that a car collateral loan provides you with the most hassle-free loan application process. Not only do we help our fellow Filipinos with their needs for funds, but we also make sure you don’t lose your beloved cars.

What is GDFI’s Sangla OR/CR?

GDFI’s Sangla OR/CR is a financial product that allows you to get your much-needed fast cash in lieu of your private vehicle. However, you don’t need to fret as you only have to transfer the custody of your car’s Certificate of Registration (CR) along with its Official Receipt upon registration. Also, you’re also entitled to a slow interest rate of 1.50% as long as you’re a Filipino citizen and have a documented source of income.

All you have to do is provide the following:

  • Any 2 valid IDs
  • Copy of latest OR/CR
  • Proof of residence
  • Tax Identification Number
  • Proof of income

It is our mission to uphold the Philippine economy by helping its citizens achieve financial ease and freedom through our affordable loans and services. That’s why GDFI has 60 branches nationwide and 24/7 online assistance on our website to help you with your needs. So, you don’t have any reason not to avail of this loan option now.