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Maybank Personal Loan
Maybank started its operations as a commercial bank in the Philippines on 1997. Currently, Maybank has approximately 80 branches in the country with 30 of those strategically placed in Metro Manila. Maybank now offers various services such as the Maybank personal loan, credit cards, and deposits.
Maybank enAble personal loan benefits and fees
A personal loan under Maybank will allow you from ₱50,000 to as much as ₱1 million with payment terms of 12, 18, 24 and 36 months. If you’d like to know how much your fixed monthly instalments will be, simply use the Maybank personal loan calculator and you’ll quickly see the monthly amortisation along with the add-on rate.
Am I eligible for a Maybank personal loan?
Maybank’s personal loan option, known as the Maybank enAble personal loan, can be used for various personal needs such as getting a cash loan, paying tuition fees, family vacations, and other personal expenses. To apply for a Maybank loan, a few guidelines must be followed.
You must be a Filipino citizen at least 23 years old and must not be older than 55 years old upon the loan maturity date. Either your home or business address must be accessible by any Maybank branch in the Philippines. Along with these, you should also have a home landline, mobile number, and either an office or business landline to be eligible for a Maybank personal loan.
For the employed, your employer or company must be part of the top 7,000 companies in the Philippines. You may directly check this with your company since there is currently no reliable and regularly updated list available on the internet. To get a cash loan, you must also have been employed with your current company for at least 2 years with a minimum salary of ₱18,000 a month in a supervisory level job or higher.
For professional and self-employed individuals, you must either be in the same profession or business for at least 5 years to apply for a Maybank personal loan. For the business owners, your business must be in operation for at least 5 years with 2 continuous years of profitable transactions. The business’ income should also average at least ₱200,000 on a monthly basis.
The only fees you’ll be paying will be ₱2,000 processing fee and a ₱1 documentary stamp tax for every ₱200 loaned if the total loan is over ₱250,000. For example, a personal loan of ₱300,000 will have a documentary stamp tax of ₱1,500.
What are the requirements to apply for a Maybank loan?
To start your loan, you must fill up and sign the Maybank personal loan application form. You must also present photocopies of any 2 valid IDs, your latest credit card billing statement, and the latest utility billing statement with your residence address.
For employed individuals, your original certificate of employment and your 1-month payslip will be required. Along with this, you must also present a photocopy your latest ITR or BIR form 2316.
For self-employed borrowers, an SEC or DTI certificate of registration must be shown and the latest 2 years ITR with a BIR stamp and tax receipt must be shown. Statements such as 2 years of audited financial statements and your latest 6 months of bank statements will also be asked for. Lastly, you must compile a list of your 3 major suppliers and customers and you’ll be ready to apply for a Maybank personal loan.
Compare Online: Why choose GoBear
There are too many options for loans, and more often, there is too little information about the loan that banks offer. You can now compare details of a Maybank personal loan with loans from other banks like BDO, BPI, Security Bank, Equicom and more. See a side-by-side comparison of fees, interest rates, and requirements if you compare with GoBear. The website is free and easy to use, created to help Filipinos make smarter financial decisions. Learn more about GoBear through the FAQ page.
Are you getting a Maybank personal loan to pay for tuition fee? Compare personal loans and find the best deals in the market today.