Learn How To Apply For A Metrobank Loan

Applying for loan products can help you buy a house or a car. Banks like Metrobank make the application smooth and easy, allowing you to upgrade your lifestyle. Whether you need a home or car loan, Metrobank gives you financing options to choose from.

Car and homeownership involve a huge amount of money. For people starting a family, real estate is a great investment that you can pass on to your children. Meanwhile, buying a new car provides comfort and ensures your safety on the road.

Whatever it is that you need, you can count on Metrobank Loan to easily buy a house or a car. Here’s a guide that provides information on the loans offered by Metrobank. Read on and find out more about the application process, requirements, and more.

Image source: metrobank.com.ph

Types Of Loans

Metrobank offers two types of loan products: car and home loans. For home loans, applicants can borrow up to 80% of the property’s selling price. From a house and lot purchase to building a house to refinancing your loan, Metrobank extends financing to borrowers.

The minimum loan amount for a home loan is Php500,000 with a payment term of up to 25 years. Aside from house and lot, borrowers can also apply for this loan to buy a commercial property. This real estate property can serve as a personal investment.

In case you want to upgrade to a new car, the car loan is what you need. The Metrobank Car Loan makes it easy to own a ride fit to your budget and preferences. The payment term can last up to five years at a competitive rate.

Metrobank Loan Application

The online application facility of Metrobank makes it easier for borrowers to apply for loan products. Simply visit Metrobank’s website and choose the loan product then click Apply Now. You will be redirected to a page containing the application form.

For a car loan, some of the documents required include a valid government ID, latest income tax return, certification of employment with salary details, bank statements, and COEC with an employer’s email address for OFWs.

For a home loan, you need to visit a Metrobank branch to apply. The requirements needed are government-issued IDs, proof of income, certificate of employment, six months of bank statements with no overdraft charges, and collateral documents.

To qualify for a home loan, the minimum requirements include being at least 21 years of age and not more than 65 years old, a gross family income of Php40,000, permanently employed with a company, and subject to 30% debt burden ratio.

Interest Rates And Charges

Metrobank doesn’t specify the charges for a car loan. The best thing to do is to contact their hotline to find out about the interest rate and other charges. For the home loan, interest starts at 5.88% to 6.88% for a five-year fixing.

Other fees included in the loan are notarial fee of Php300, appraisal fee of Php4,000, title investigation fee of Php1,000, a handling fee of Php5,000, registration, and property insurance.

Metrobank Contact Information

For inquiries about loans and other products, you can reach Metrobank at their Contact Center hotline (02) 88-700-700 or email at customercare@metrobank.com.ph. The bank’s main address is located at Metrobank Plaza Building, Sen. Gil J. Puyat Ave., Makati City, Philippines.

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Applying for a Metrobank Loan is easy and hassle-free. The bank offers a pre-application assessment to give you an idea if you have higher chances of getting approved for a home or car loan. For more information about the loan products, visit the website of Metrobank today.

Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.