MANILA, Philippines — Tesla has named Rizal Commercial Banking Corp. (RCBC), a Yuchengco-led bank, as one of its preferred financing partners in the Philippines, paving the way for a smoother transition to sustainable mobility in the country.
As Tesla gears up for its much-awaited Philippine debut, RCBC is introducing a fully digital auto loan application system, designed to make financing Tesla’s state-of-the-art vehicles—like the Model 3 and Model Y—more accessible to Filipino consumers.
“As a preferred financing provider of Tesla, RCBC is committed to making sustainable choices more accessible by integrating a digital-first approach in EV financing,” said Lito Villanueva, RCBC Executive Vice President and Chief Innovations and Inclusion Officer. “This collaboration represents our mission to promote environmental responsibility through innovative financing solutions.”
RCBC’s system offers a streamlined loan application process that allows approvals within a day. Customers can access the service via the RCBC website, where they can calculate real-time monthly payments based on their preferred Tesla model, loan term, and downpayment.
In the coming weeks, the bank plans to launch a dedicated Tesla Auto Loan microsite, further enhancing the user experience. This platform will offer competitive rates and flexible financing terms ranging from 12 to 60 months, allowing customers to tailor payment plans to suit their needs.
The partnership marks a significant step in making EV ownership more attainable in the Philippines, aligning with Tesla’s mission to accelerate the global transition to sustainable energy.
With RCBC’s innovative financing solutions, Filipinos are now a step closer to driving the future of mobility.
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