Malayan Bank in the Philippines

In Malayan Bank, we are committed to provide our customers with quality banking services through a balanced and maximized offering of Service, Yield, Security and Liquidity. As a savings bank, it is our dream to see all our clients reach greater heights in their respective industries.

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Malayan Bank https://upfinance.com/app/uploads/2019/12/MB-Logo-340px-1-1.jpg
Majalco Bldg. Trasierra Cor., Benavidez Sts., Legaspi Village, Makati City
(02) 8810 6072, (02) 8817 7484,
Interest rate 1% - 3%
Loan tenure from 1 to 60 months
Approval duration Up to 48 hours
Min. monthly income

Head Office

Majalco Bldg. Trasierra Cor., Benavidez Sts., Legaspi Village, Makati City

Product Features

Min. financing amount ₱ 2000
Max.financing amount ₱ 2000000
Min. loan tenure 1 months
Max. loan tenure 60 months

Credit

Jewelry loan

Malayan Bank now gives you a convenient way for you to convert a portion of the appraised value of your gold and diamond jewelry quickly and easy! All you have to do is a visit a Malayan Bank branch near you with your jewelry, have it appraised, fill up the necessary forms and you can get your cash in minutes!
Rates:  From 3% per month
Payment terms: Up to 3 months
Approval time: 2 hours

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Auto loan

Rates:  From 12% APR
Loan amount:
Brand new: up to 80% of purchase price
Second hand: up to 70% of appraised value
Payment terms:
Brand New: 12 to 60 months
Second hand: 12 to 48 months
Maximum car age: For second hand, the age of vehicle + loan tenor should not exceed 11 years
Approval time: 1-5 banking days
Down payment: As low as 20% of purchase price

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Fleet Financing

Does your business require you to add more vehicles? We offer bus loans, truck loans, and auto loans via fleet financing line.
Rates: From 12% APR
Loan amount:
Brand new: up to 80% of purchase price
Second hand: up to 70% of appraised value
Payment terms: Up to 36 months
Approval time: within 5 banking days

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Loan Calculator

%
Monthly payment
₱ 888.49
Total overpayment
₱ 661.85
Total
₱ 10661.85

Borrower requirements

Eligibility:
– At least 21 years old at the time of application but not more than 65 years old upon loan maturity
Сitizenship:
– Must be a Filipino Citizen
– Must have an office or residence landline
If Employed:
– Minimum gross monthly income for Metro Manila – 15 000 PHP
– For outside Metro Manila – 12 000 PHP
If Self-employed:
– With at least two (2) continuous years of profitable operations in the same line of business
– Minimum gross monthly income for Metro Manila – 30 000 PHP
– For outside Metro Manila – 25 000 PHP

Business loan

Small business loan

Rates: From 1.7% per month
Minimum loan amount: 500 000 PHP
Maximum loan amount: 3 000 000 PHP
Payment terms: Up to 2 years
Approval time: 5 banking days

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Corporate loan

We have serviced the financing needs of prestigious corporate accounts since we started in the thrift banking industry in 1996. Our experienced account officers will assist your company reach greater heights.
Rates: From 1% per month
Payment terms: From 7 days to 12 months
Approval time: 3 – 15 banking days

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Eligibility requirements

Eligibility: 
– SEC Registration and Articles of Incorporation/Partnerships and Amendments
– By-Laws of Corporation/Partnership
– DTI Certificate of Registration
– Company Profile
– GIS (General Information Sheet)
– ITR/FS for the past 3 years
– List of major customers and suppliers (with contact details)

FAQ

The minimum down payment for a new car is 20% of purchase price, for a used car – 30% of purchase price.

Payment terms for Brand New cars – up to 60 months.
Payment terms for Used cars – up to 48 months.

No, the car is your property from the moment of purchase, but remains the bank’s guarantee for the loan period. This means that you cannot sell the car, and you also have to pay for car insurance so that the bank can receive its money in any case.

Documents confirming income and identification are the main requirements for obtaining a car loan.
Application form with filled in fields.
Copy of Passport or any ID ( SSS ID, Driver’s License, Voter’s ID)
Working borrowers must submit documents: certificates from the place of work or COE, a copy of payslip for 2 months, income tax return from BIR or ITR within 1 year.
Self-employed applicants must submit documents: a copy of the ITR with THE bir stamp , a copy of registration with the DTI or SEC, and a copy of financial statements for a period of at least 2 years .
After buying a car, you need to pay for insurance.

Initial registration is usually done by agents, so you get a copy of OR / CR. You must remember that the initial registration is valid for 3 years, so after that you need to renew it annually in LTO.

Typically, interest rates are lower for new cars, because used cars less secure investment than new ones because they can break down or undergo repairs that will be more common than a new car. For new cars, interest rates are 2-5% lower and are the most popular way to finance cars in the Philippines.

Bank does not accept household appliances, phones, designer bags as collateral, unlike some pawnshops. Also, bank has interest rates – 3%, and in pawnshops, interest rates usually vary from 3% to 7%.
The bank requires confirmation of the solvency of the borrower, unlike pawnshops.

The maximum term is 3 months.

Small businesses in the Philippines can be determined depending on the size of the assets, the amount of equity and the number of employees. Enterprises can also be determined depending on the number of employees. Small businesses employ between 10 and 99 workers.

The longest loan period is 2 years.

Contacts

Full company name Malayan Bank
Address Majalco Bldg. Trasierra Cor., Benavidez Sts., Legaspi Village, Makati City
Phone number (02) 8810 6072, (02) 8817 7484
E-mail
Social networks

In Malayan Bank, we are committed to provide our customers with quality banking services through a balanced and maximized offering of Service, Yield, Security and Liquidity. As a savings bank, it is our dream to see all our clients reach greater heights in their respective industries.

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