Personal Loans Metrobank

What is a Personal Loan in Metrobank?

Personal Loans Metrobank are installment loans which entail affordable fixed interest rates to provide its borrowers the best and most convenient loan option that best fits their needs.

With this kind of loan, the applicant may borrow as much as Php 1,000,000 to finance their personal needs while the proceeds will be credited directly to the applicant’s Metrobank account within two (2) business days, provided that the loan requirements are completely submitted, verified and approved. 

Uses of Personal Loans

Borrowers need personal loans for a variety of reasons. Most of the time, they are applied for due to the following reasons:

• Home Renovation and Improvement
• Tuition Fee Payments
• Weddings
• Debt Consolidation
• Medical Emergencies
• Other Unexpected Expenses

Loan Features

Loan Amount: A maximum of Php 1,000,000 which may be varied depending on the financial situation and the borrowing history upon the application for the personal loan.

Loan Tenure: 12, 18, 24, or 36 months

Mode of Payment for the Loan Amortizations: Via auto-debit arrangement (ADA) in the applicant’s Metrobank account

Expected Period of Approval: Within three (3) business days

Additional Fees & Charges:

• Disbursement Fee – Php 1,000
• Late Payment Fee – Php 850 (per incidence of late payment or non-payment)
• Pre-termination Fee – 5% of the outstanding balance or Php 550 (whichever is higher) 
• For loan amounts exceeding Php 250,000, a documentary tax stamp needs to be provided.

How to Apply for Metrobank Personal Loans?

Physical Application

1. Bring with you all required documents and visit the nearest Metrobank Branch in your area.
2. Submit all necessary documents to the Metrobank loan processing officer for verification of your application.
3. Prepare to pay processing fees, if necessary. Possible additional charges are as follows:

• Appraisal Fee – Php 3,000 up to Php 3,500 (to be paid upon application)
• Handling Fee – Php 2,000 (to be paid upon loan approval or may be deducted from loan proceeds)
• Inspection Fee – Php 500.00 per inspection (for construction loans only, upon every stage of completion inspection)

Online Application

1. Visit Metrobank’s website and choose the loan you would like to avail.
2. Click “Apply Now” and fill out the required fields with your personal and other details.
3. Click “Send Now” and wait for the verification and approval of your loan application.

Conclusion

Just like other bank institutions, Metrobank offers personal loans which extend help for individuals who are in need of extra or immediate cash. As a financial firm, Metrobank ensures that these personal loans will be able to cater not only the common inquiries mostly thrown by clients but also their financial concerns. Thus, various personal loans such as Home Loan, Auto Loan, and Corporate or Business Loan were made available for financial borrowers.