Metrobank in the Philippines

Metropolitan Bank History Metrobank Bank has more than half a century of history, was founded in 1963 to serve the business of 5 founders. Corporate customer service was the only line of business. The bank’s logo – an open mail envelope with a globe icon speaks of the openness and availability of banking services around […]

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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

Product Features

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

Credit

Home loan

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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

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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

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Interest 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

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Interest 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

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Interest 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.

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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.

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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.

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The longest loan period is 25 years.

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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.

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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.

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

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• 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.

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

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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

Metropolitan Bank History

Metrobank Bank has more than half a century of history, was founded in 1963 to serve the business of 5 founders. Corporate customer service was the only line of business. The bank’s logo – an open mail envelope with a globe icon speaks of the openness and availability of banking services around the world. 1979 – opened the Metrobank Foundation as a noncommercial organization of the Metrobank group. Major Foundation programs in education, health care, and partnerships with outreach organizations. In 1981 Metropolitan Bank became a universal bank. The expansion of the range of services allowed the bank not to limit its influence only to the Philippines. In 2001, he opened his branch in China and became the 1st Filipino bank in the Middle Kingdom.
Today the Head Office is located in Makati City.
The company continues to serve small and large businesses and can provide a full range of services. For individuals, the bank also offers: convenient online banking, the ability to pay bills from anywhere in the world, lending on favorable terms, a high-interest term savings deposit.
Today the network has 950 branches in the Philippines and 37 branches abroad. The company provides services in 2300 ATMs and has partnership agreements with more than 6500 points of receiving and sending money transfers.

Branches Near Me


Metrobank ATMs are located both in Asia and Europe. Working hours are 9:00 AM to 3:30 PM. However, the bank’s customer can get help 24 hours a day via the hotline or Toll Free. The contact center is available to all customers, regardless of their location. The corporation has a corporate customer support care: Tel. No. 1800108579727. If the question is not urgent, then the customer can write to us by mail or through the form on the website https://metrobank.com.ph/contact-us . On the same page the customer can find all the phones: Toll Free tel. number, hotline number. If you need to resolve the issue in person at the bank’s office, then you can find “branches near me” at https://metrobank.com.ph/locator .

Products & Services for OFW


Metrobank offers for OFW the opportunity to open an account in that foreign currency in which OFW receives salary. A savings account will allow you not only to make transactions, but also receive interest on deferred savings. In addition, OFW can pay relatives’ bills and make investments. Here are the benefits of an OFW account:

  • No required minimum amount
  • You can choose a card or passbook
  • Account in such foreign currencies as RMB, US dollars, Euros, British pounds, Japanese yens and others.

The money transfer service is maximally optimized for clients. There is door-to-door cash delivery. Your loved ones get paid in less than 7 days right at their doorstep. It is possible to track the transfer at any time using the reference number of the transaction.

SWIFT


SWIFT – The Society for Worldwide Interbank Financial Telecommunications is empowered to provide identification codes to banks. This code consists of 11 characters for bank divisions and 8 characters for head offices. For Filipinos working abroad, it is very important to correctly indicate SWIFT so that the transfer reaches the addressee and is not returned to the sender.


Types of Banking


The company is open to new technologies. New opportunities expanded the product line: investment banking, UITF Online, leasing and financing, urgent online deposits, credit cards and bank insurance.

Metrobank Mobile Application


2017 – Metrobank released its Mobile App. Now customers only need a smartphone and mobile internet for using banking transactions. You can only pay for purchases using mobile banking. Find out your balance, transfer money and other operations are also accessible in the Mobile App. To verify transactions, you need enter the One-time Password in the Metrobank mobile app using your registered tel. no.
Besides that,, using the Mobile App, you can withdraw cash from PSBank or Metrobank ATMs without a bank card.

Metrobank Business Online Solutions (MBOS)


This system was created in partnership with IT, Solutions Exchange Inc and is intended for corporation and business owners. MBOS provides domestic and international payments, operations with securities.

Personalonline Service


A full description of the service – Metrobank Direct Personal can be found on the page. In order to start using Personalonline banking, you need to register in the system. For registered users of Metrobankdirect Personal app available:

  • Deposit account
  • Metrobank credit card
  • Regular Checking Account.

If you are already registered with Metrobankdirect and want to transfer your personal account to Metrobankonline, then follow these steps:

  • Using your Metrobankdirect account details, log into Metrobankonline.
  • Enter the checking code sent to your registered email address.
  • Create and set your 6-symbols password.

If you already have a Metrobank Direct Personal account, then to use Metrobank Online, simply transfer your account.

How To Get Loan: Documents And Requirements


Metro Bank provides citizens with the following credits: Housing and Car loan. Also today the Metro Company issue business credits to enterprises: Credit line, Term Loans, Working Capital Loan.


Requirements and documents


To get a loan, a citizen needs to send an application for a loan and present an ID and documents confirming the receipt of regular income. Further actions depend on what kind of loan the client wants to receive:

    – Home loan will require house documents and a seller’s passport or a construction contract. In addition to this package of documents, it will be necessary to pay insurance and fees.
    – If the client wants to take a Car loan, then will require the documents for the car, plus insurance and payment of fees for the loan.

On the Metro Bank website, users can use a calculator to pre-calculate their capabilities. Home loan calculator can be found on this page. And to calculate Car loan, use the calculator at the link.

Metrobank Cards At Metrobankcard.com


The company has allocated a separate site for the description of all card services at metrobankcard.com, where there is a detailed description of 2 types of cards: prepaid (debit) and credit. There is a permanent promo on credit cards – buying goods on credit from bank partners at 0% and for a period up to 24 months. You can use a promo – 0% in partners’ stores with this logo.

Yazz Prepaid Visa Card


This product is debit card and is valid worldwide. Also, YAZZ is used in all ATMs that support BancNet and VISA.
The most important advantage of this card is that at the same time it is a savings account without a mandatory minimum balance.

Metrobank Travel Platinum Visa


This type of card is very popular with people who travel a lot. Customers receive 1 mile for every 17 pesos spent abroad, plus free travel insurance with MAX coverage – 5 million pesos.
A unique feature of Metrobank Travel card is that when receiving the first additional card, the client will never have to pay for its service.

Metrobank World Mastercard


This card is credit. As a bonus, the first 2 additional cards are free.
It is for Metrobank World Mastercard that a permanent promo is offered – 0% by installments. This is tremendous support when buying high-value goods. The terms of the installment plan vary from 3 to 24 months and depend on the partner of the bank who sells the goods of interest to the client.

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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