Metrobank in the Philippines

The Metrobank is a leading financial conglomerate with a diversified business portfolio, including investment banking, a charity bank, leasing and financing, bank insurance and credit cards. It offers a full range of banking services to large local and multinational corporations, a medium-sized market and SMEs, high-income individuals and a retail segment. Established in 1962 to […]

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Metrobank Plaza Sen. Gil J. Puyat Avenue, Makati City, 1200 Philippines
(632) 8700 - 700, consumeraffairs@metrobank.com.ph
Interest rate 0.49% - 1.33%
Loan tenure from 1 to 300 months
Approval duration Up to 5-12 hours
Min. monthly income

Leading

George Siao Kian Ty Honored Chairman, Founder of Metrobank * 85 years Honorary Chairman, GT Capital Holdings, Inc. * Chairman of the Board, Toyota Motor Philippines Corporation Chairman of the Board, Metrobank Foundation Honorary Chairman, GT Foundation, Inc. Honored Doctor of Humanities Honoris Causa from the University of Santo Tomas

Product Features

Min. financing amount ₱ 100000
Max.financing amount ₱ 20000000
Min. loan tenure 1 months
Max. loan tenure 300 months

Credit

Home loan

Available for OFW!
Interest Rates: 5.5% APR (1-3 years); 6.24% APR (4-5 years);
Loan amount: Up to 80% of assessed value
Payment terms: Up to 25 years
Total gross monthly income (minimum): 40,000 PHP
Approval time: 5 banking days
Handling fee: 3 500 PHP

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Car loan

Interest rates:

Months 12 18 24 36 48 60
rates APR 7,3% 7,3% 7,85% 7,85% 8% 8,15%

Loan amount: Up to 80% of purchase price
Payment terms: Up to 60 months
Approval time: 1-3 banking days
Down payment: As low as 20% of purchase price

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Loan Calculator

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

Borrower Requirements

Identification:
Valid Government-issued 10 ACR (Foreigners: permanent or immigrant status)
Source of Repayment:
ITR or COE or 3 months payslips (Locally Employed)
Land based: COE with email of employer
Sea-based: Latest POE A contract (OFW)
latest 6 months bank statements 2 years ITR with AFS (In Business)
Requirement:
Transfer Certificate of Title / Condominium Certificate of Title
Tax Oedaration (land / Improvement / Condo Unit)
Contract to Sell or Reservation Agreement (if under developer tie-up) Floor Plan / Bill of Materials / Job Specifications (for house construction)

Business loan

Credit line

Rates:  16% per annum
Minimum Loan Amount: 1 000 000 PHP
Maximum Loan Amount: 20 000 000 PHP
Payment terms: Up to 12 months
Acceptable collaterals: real estate properties or assignment of deposits or placements
Approval time: within 15 banking days

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Long term loan

Rates:  8.8% per annum
Minimum Loan Amount: 1 000 000 PHP
Maximum Loan Amount: 20 000 000 PHP
Payment terms: Up to 84 months
Acceptable collaterals: real estate properties or assignment of deposits or placements
Approval time: within 15 banking days

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Short term loan

Rates:  8.8% per annum
Minimum Loan Amount: 1 000 000 PHP
Maximum Loan Amount: 20 000 000 PHP
Payment terms: Up to 12 months
Acceptable collaterals: real estate properties or assignment of deposits or placements
Approval time: within 15 banking days

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Requirements

Personal and Business Identification: 
– One (1) valid government issued ID
– Business Registration Certificate/ Business Permit/ General Information Sheet
– Duly Accomplished Business Loan Application Form
– Proof of Billing
Financial Documents:
– Photocopy of Income Tax Return for the last three years
– Photocopy of Audited Financial Statement for the last three years
– Bank Statements for the last six months
Collateral Documents:
– Copy of Transfer Certificate of Title and/or Condominium Certificate of Title (Owner’s Duplicate Copy)
– Certificate of Placement
– Updated Tax Declaration
– Vicinity Map/ Location plan/ Lot plan and Bill of Materials (if for construction)

Deposited

Savings accounts
Rates:  0.25%
Nothing is as safe as money in a bank — whether it’s making eggs for your family’s future or just saving money for a rainy day. Metrobank gives you the opportunity to keep your money safe and earns interest depending on your needs and goals. You can choose from the following:

  • Passbook Savings Accounts
  • Metrobank ATM Savings Account
  • Metrodollar Savings Account
  • Other foreign currency savings accounts
  • Club Fun Savers (FSC)

Term deposit
Rates:  0.25%
Want to increase your savings? Fix your money for a certain period and get higher interest rates through term deposits of Metrobank in peso and in foreign currency. Term deposits are safe, low-risk and have higher interest rates than regular savings accounts.

Our available time deposit accounts:

  • Regular deposit
  • MetroDollar term deposit
  • Term deposit in foreign currency

Debet Card

Issue credit cards for customers card.

FAQ

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.

The longest loan period is 25 years.

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 maximum loan term without collateral is not more than 7 years.

• 3 years working business.
• Register with DTI or SEC in the name of the borrower.
• Mayor’s permission registered in the name of the borrower.
• The borrower is the main shareholder or owner of the business.
• The borrower has a current account of at least 6 months, which is used.
• The borrower has the right to sign checks.

To date, the maximum amount of this loan is PHP 20,000,000.

Contacts

Full company name Metrobank
Address Metrobank Plaza Sen. Gil J. Puyat Avenue, Makati City, 1200 Philippines
Phone number (632) 8700 - 700
E-mail consumeraffairs@metrobank.com.ph
Social networks

The Metrobank is a leading financial conglomerate with a diversified business portfolio, including investment banking, a charity bank, leasing and financing, bank insurance and credit cards. It offers a full range of banking services to large local and multinational corporations, a medium-sized market and SMEs, high-income individuals and a retail segment. Established in 1962 to provide financial services to the Filipino-Chinese community.
Solid track record covering over 50 years; Multiple bank.
Currently, the Metrobank covers a consolidated network of more than 2,300 ATMs throughout the country, more than 950 internal branches and more than 30 foreign branches, subsidiaries and representative offices.

Users rating

Reviews

1 year ago

have nice policies and gave good services

it has good services and nice interest rates and good peoples .

1 year ago

Metro Bank! Overall a better place for work with reasonable facilities. But need to work more on employees personal development

There is always something to learn. Opportunities are there to grow but long hectic work hours are also disturbing. Work life balance is disturbed due to long working hours. Workplace culture is fine. People working in different divisions are not getting market compatible packages.

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