Established in 1962, Metropolitan Bank & Trust Company brings more than 60 years of banking experience to customers looking to get a loan in the Philippines.
What you need to know about this loan
- Loan amount: From PHP 20,000 to PHP 2,000,000, subject to credit evaluation.
- Repayment period (in months): Choose 12, 18, 24 or 36 months.
- Payment options: Automatic debit arrangement through your Metrobank deposit account; if you do not have one, you will need to open an account after approval.
- Interest rate: Advertised monthly add-on rates start from 1.25%, with the applicable rate depending on your amount, term and approved offer.
Before completing your loan application, confirm the applicable monthly add-on rate and annual contractual rate with Metrobank. The advertised starting rate and the rates listed above differ, and rates and fees are subject to change.
- Disbursement fee: PHP 1,500, deducted from the proceeds.
- Documentary Stamp Tax: 0.75% of the approved amount for loans above PHP 250,000.
- 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.
- Published APR range: Minimum of 30.516% and maximum of 33.317%.
Advantages
- Financing up to PHP 2 million: Access funds for larger expenses, subject to the bank’s credit evaluation.
- Four repayment options: Choose from 12, 18, 24 or 36 months.
- Minimal application documents: Apply with one valid ID without submitting income documents.
- Convenient online process: Complete the application online in a few minutes and receive an SMS status update.
- Multiple personal uses: Finance education, home repairs, medical expenses, travel, personal purchases or debt consolidation.
Disadvantages
- Existing credit card required: Applicants must have an existing credit card and meet the bank’s income and employment or business requirements.
- Additional borrowing costs: Disbursement, applicable taxes, late payments and early settlement can add to the cost of the loan.
Why choose Metrobank for your loan?
BPI Personal Loan requires income documents. Metrobank’s loan application needs just one valid ID, reducing the paperwork for eligible applicants.
BDO Personal Loan sets a maximum age of 60 at maturity. Metrobank allows up to 65, giving older eligible borrowers more room to get a loan.
CTBC Salary Stretch requires proof of billing and a payslip. Metrobank simplifies the online loan application with one valid ID and no income documents.
EastWest Personal Loan starts at PHP 25,000. Metrobank’s minimum loan amount is PHP 20,000, which may better suit a smaller financing need.
PSBank Flexi accepts applicants from age 22. Metrobank starts at 21, letting younger eligible borrowers begin a loan application sooner.
How to apply for your Metrobank Personal Loan
Ready to fund your next goal? Click below to check the eligibility requirements and learn how to prepare your Metrobank loan application.