Metrobank Philippines is one of the top commercial bank in the country that offers different kinds of services for its customers. It gives products and services such as savings account, checking account, business loans, housing loans, car loans, credit cards, investments, personal and corporate insurance, cash management and many more.
One of the nice services of Metrobank is its loan products for their customers. In this article you will learn some of the types of loans you can avail with Metrobank.
Kinds of Metrobank Loans
If you notice, there are several articles about loans that I tackled in this blog even though I’m advocating financial management and education. I firmly believe that applying for a loan is not actually bad as long as you study its effect on your finances and you do it for a better return. Some of the loans you can apply in Metrobank are car loan, housing loan and corporate loans.
Under personal loan of Metrobank is car and housing loan. Lately, I’m looking which car is best suited for our family so I researched some of the new models of cars in sulit.com.ph. I’ve noticed that all sellers are offering car financing through bank loans.
You will just need to provide the complete requirements so your loan will be easily approved by the bank. For a car loan, you just need a certificate of your employment or a proof of income if you’re a self-employed or businessman, two valid IDs, proof of address and a bank account particularly post-dated checks as a payment method for your loan.
It is better to research and study which bank gives the lowest interest rate when applying a car loan. However, most of the car loan agents have their own bank of preference since they have a tie-up with them. You may also consider studying car loan from Metrobank.
Metrobank is also providing housing loan for their customers who want to buy or construct a house but they don’t have sufficient fund to do so. Next to Pag-IBIG housing loan, I think bank loan is the second most advisable way to raise money for the construction of your own home.
Metrobank offers different terms at certain interest. You can choose how long will you pay your loan and its corresponding interest. It has one-year, two- year, three-year, four-year, five-year and six to ten-year term for a housing loan.
It has low interest rates that can be fixed for the first year, first 2 years, three years or five years. You can pay your loan up to maximum of 20 years for purchase of house and lot or a townhouse; 15 years maximum for purchase of condominium, refinancing, reimbursement and home renovation; and ten years maximum for lot purchase.
Metrobank is also offering loans for business owners and corporations. It is divided into three categories: loan for capital expenditure, corporate finance and consultancy and SME & other government supported loans.
Under the loan for capital expenditure, a customer can apply for various types such as time loan, bills discounted loan, amortized loan, syndicated loan, straight loan and bills purchased and domestic bills purchased.
For corporate finance and consultancy, some type of loans that you can get are syndicated term loan, structured finance, LTCP/bond issuance & underwriting and equity issuance.
Under the SME & other government supported loans are industrial guarantee & loan fund, countryside loan fund, Overseas economic cooperation fund, SSS-GSIS special financing program, SSS financing programs for tourism projects, SSS dormitory/apartment program, SSS hospital financing program and SSS program for educational institutions.
So these are just the list of loans you can avail at Metrobank. If you want more information on how to apply for a Metrobank loans, simply visit their website and begin studying their offers.