Maybank in the Philippines

Maybank Philippines was founded in 1997 with the acquisition of Maybank 60% stake in PNB Republic Bank. Maybank increased its stake in Maybank Philippines Inc. (MPI) to 99.96%, making it the first full-service commercial bank to receive a BSP license, which is almost 100% owned by a foreign bank. Initially provided financial services to Malaysian […]

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Maybank https://upfinance.com/app/uploads/2019/12/1468124738_maybank.png
North Tower, South of Market Condominium, 26th Street, Corner 11th Avenue, Fort Bonifacio Global City, 26th St, Taguig, 1634 Metro Manila
(02) 8588 3888 or toll-free number 1800 10 588 3888, mpi.customerservice@maybank.com
Interest rate 0.5% - 4.9%
Loan tenure from 12 to 240 months
Approval duration Up to 24 hours
Min. monthly income

Product Features

Min. financing amount ₱ 50000
Max.financing amount ₱ 20000000
Min. loan tenure 12 months
Max. loan tenure 240 months

Credit

Home loan

Interest rate: 1 year fixed – 0,5% per month; 5 years fixed – 0.62% per month
Minimum loan amount: 500 000 PHP
Maximum loan amount: Up to 80% of assessed value
Payment terms: Up to 20 years
Approval time: 5-21 banking days

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Personal loan

A loan for any purpose: Educational loan, Calamity loan, Emergency loan and others.
Interest rate:  1,3% per month
Minimum loan amount: 50 000 PHP
Maximum loan amount: 1 000 000 PHP
Payment terms: Up to 36 months
Processing fee: 2 000 PHP
Approval time: 1 – 3 banking days

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Auto loan

Interest Rates Brand new:

Months 12 24 36 48 60
% per month 1,5% 1,19% 1,07% 1,04% 1,04%

Interest Rates Used car:

Months 12 24 36 48
% per month 1,73% 1,72% 1,58% 1,5%

Minimum loan amount: 100 000 PHP
Maximum loan amount: Brand new: up to 80% of purchase price
Second hand: up to 70% of appraised value
Payment terms: 12 to 60 months
Approval time: 1 banking day
Down payment: As low as 20% of purchase price

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Truck loan

Interest rate: 
Brand New – 1,0568% per month
Used car – 1,4244% per month
Maximum loan amount: up to 70% of purchase price
Payment terms: Up to 36 months
Processing fee: 2 000 PHP
Approval time: 1 – 3 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 – 15 000 PHP
If Self-employed:
– With at least two (2) continuous years of profitable operations in the same line of business
– Minimum gross monthly income – 30 000 PHP

Business loan

Maybank Retail SME offers customized facilities that will suit your financial requirements. Loan packages:

Revolving Credit Line – for short term working capital needs that can be used for inventory build-up and for liquidating receivables.

Term Loan – For long-term working capital requirements that can finance your business expansion, acquisition of fixed assets, machinery equipment and other business development projects.

Revolving Credit Line

Rates:  From – 10,33% APR
Minimum loan amount: 500 000 PHP
Maximum loan amount: 30 000 000 PHP
Payment terms: 3-4 months
Approval time: 3-5 banking days

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Revolving Credit Line

Rates:  From – 10,33% APR
Minimum loan amount: 500 000 PHP
Maximum loan amount: 30 000 000 PHP
Payment terms: Up to 20 years
Approval time: 10 banking days
Collateral: Lot / condominium

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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
Documentary requirements:
– Completely accomplished Loan Application Form duly signed by the borrower/s.
– Latest 2 years Audited Financial Statements and Income Tax Returns
– Latest 2 years Management /In-house Financial Statements
– SEC Articles of Incorporation / Partnership and By-Laws / DTI Business Name Registration/GIS/Business Permits
– Latest 6 months Bank Statements with major depository banks
– List of customers and suppliers with contact details
– Company profile or business background
– Statement of Assets and Liabilities of major stockholders (if corporation)
– Resume of principals
– Government issued IDs of Principals
– Photocopy of Transfer Certificate of Title or Condominium Certificate of Title
– Tax Declaration (Lot & Improvement)
– Lot plan with vicinity map / floor plan for condominium

Deposited

Deposit

FAQ

The longest loan period is 20 years. These Home loans are offered by two banks on these terms:

Since this type of loan is associated with large amounts of money and a large volume of documents, the term for making a decision by the Bank depends on two stages of verification. First, the Bank will check your solvency, this stage takes no more than 5 working days on average. Then the Bank will need to check the documents for the land or property you are buying, as well as make an assessment of it.

There is no single solution. If you need the lowest monthly payment, then take loan for the maximum possible period. If you are not sure that you will have a consistently high income, then take as little time as possible.

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.

On average, initial approval of a Personal credit application can be done from 10 minutes to 1 day, depending on the bank. Final approval takes on average from 24 hours to 5 days. You just need to make sure your documents are completed when you submit them.

Credit funds can be issued immediately after the application is approved or 1-3 banking days after a successful phone check.

Contacts

Full company name Maybank
Address North Tower, South of Market Condominium, 26th Street, Corner 11th Avenue, Fort Bonifacio Global City, 26th St, Taguig, 1634 Metro Manila
Phone number (02) 8588 3888 or toll-free number 1800 10 588 3888
E-mail mpi.customerservice@maybank.com
Social networks

Maybank Philippines was founded in 1997 with the acquisition of Maybank 60% stake in PNB Republic Bank. Maybank increased its stake in Maybank Philippines Inc. (MPI) to 99.96%, making it the first full-service commercial bank to receive a BSP license, which is almost 100% owned by a foreign bank.
Initially provided financial services to Malaysian and Singaporean businesses. Ultimately, MPI expanded funding for a wider group of corporate and commercial customers and began to engage in consumer lending with the launch of housing loans in 2000, followed by car loans in 2001.
In 2009 MPI joins the BancNet family, to extend convenient services to its cardholders via automated teller-machines, online, and mobile phones. Consumer lending further deepened with the launching of personal and salary loans in 2008.
With the opening of 5 new branches in 2010 and 4 in 2011-2012, MPI’s branch network expanded to 54 nationwide.

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