Despite the ancient beliefs that urge us to shun all borrowing practices, getting a loan in today’s economy is essential for most individuals. With prices of every commodity soaring, loans fast-track the process of us being able to get what we need.
But even in most desperate circumstances, getting a loan feels daunting. That is because it seems like a tedious process full of red tape and hassles. However, with financial institutions like Maybank, you can apply for loans online without leaving your home.
Maybank is a prominent financial services organization, which offers its customers a plethora of loan schemes and benefits. They have multiple programs tailored to match your desires. Learn more about getting a Maybank loan below.
Features Of A Maybank Loan
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Borrow Exactly What You Need
The minimum loan amount you can take as a personal loan is PHP 50,000, and the maximum amount is PHP 1,000,000. It gives you the liberty to borrow precisely as much as you need to execute your plans.
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Flexibility
With low-interest rates and monthly installments payable for over flexible terms, Maybank personal loan schemes give you enough room to formulate a repayment plan that perfectly suits your requirements. The loan term can be over 12, 18, 24, and even 36 months.
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Low-Interest Rates
The Interest rate for Maybank Personal Loans is 1.3% compounded monthly for both employed and self-employed borrowers. Also, you do not have to pledge security to the bank to borrow money. Personal loans at Maybank are collateral-free.
Eligibility
To apply for Maybank Personal Loans in the Philippines, you must meet a few requirements. They include the following qualifications.
- You must be a citizen of the Philippines who is over 23 years old at the time of application, and under 65 at the time it matures.
- You should have a home landline contact number, an office/business number, and a personal mobile number.
- If you are employed, you should be earning a minimum salary of PHP 25,000 with over two years of employment with your current employer.
- If you are an independent professional, you should be a practitioner of the profession for at least five years.
- In the event that you are self-employed, your business should be operational for at least five years with two years of profitable operation and an average monthly income of PHP 20,000.
How To Apply For A Maybank Loan From Home
Applying for a Maybank loan in the Philippines is easy and requires only a few, simple steps.
Step 1: Give The Bank Your details
To apply for a Maybank loan, you can email the bank’s customer service department at mpi.customerservice@maybank.com expressing your wish to acquire the loan.
You must tell the bank details like loan amount, the purpose of the loan, the term of repayment, personal information, and information about your financial status.
You can visit the Maybank Philippines website for the comprehensive list of details that should be provided.
Step 2: Wait For A Response
All you have to do now is sit back and wait for a bank representative to call you. The representative will then lead you through the whole process of acquiring the loan.
You can contact the bank for further assistance at (+632) 7739-1620.
Step 3: Have The Documents Ready
Once you have applied for the loan, you may have to present the following documents.
- Filled out and signed application form
- Photocopy of two valid IDs, the latest credit card billing statement, and the latest utility billing statement with residence address
- For Self-Employed Borrowers, proof of income is required in the form of-
- SEC/DTI Certificate of Registration
- Latest two years ITR with BIR stamp and tax receipt
- Two years of audited financial statements
- Latest six months bank statements
- List of three major suppliers and customers
- For Employed Borrowers, proof of income is required in the form of-
- Original certificate of employment with compensation or one-month payslip
- Photocopy of latest ITR/BIR Form 2316
The Bottom Line
If you have been wanting to get a personal loan, we hope this article was helpful for you! You are now all set to get a Maybank loan without leaving the comfort of your home. Send the bank an email to being the Maybank loan application process today!