Guide on Maybank Personal Loan Application Process
MAYBANK PERSONAL LOAN – Here are the features and the process on how to apply for the multi-purpose cash loan offer of Maybank Philippines.
Are you in need of some cash? You might like to consider a bank loan for the possibility of a big loanable amount and fixed or documented details. In the Philippines, one of the banks that you may turn to is Maybank.
Maybank is one of the reputable banks in the Philippines. One of its loan offers is the Maybank Personal Loan, a multi-purpose cash loan offer that is open for both salaried and non-salaried individuals.
If you have multiple short-term financial needs, this Personal Loan offer may be of huge benefit. It can solve multiple financial problems and do it under a single interest rate. You can check the loanable amounts, interest, eligibility requirements, etc. below.
Under the loan offer, you may borrow up to Php 1 million under a flexible payment term and competitive interest rate per month. The loan is payable for up to 36 months and you can use the loan proceeds in whatever purpose you want which may include the following:
- personal purchases
- education
- health
- travel
- business
- events
- home and lifestyle
With regards to the interest rate, Maybank implements as low as 1.3% interest rate which is one of the lowest in the market. Here are the eligibility requirements in applying for the loan offer:
For Locally-Employed Individuals:
- a Filipino citizen
- at least 23 years old but not older than 65 years old during the loan maturity
- home and business address must be within any of the bank’s service regions
- must have active home landline, office or business landline, and mobile number
- applicant must be with the current employer for 2 years work tenure and earning a minimum salary of Php 25,000
- employer must be one of the Top 7,000 companies in the Philippines
For Self-Employed Individuals:
- a Filipino citizen
- at least 23 years old but not older than 65 years old during the loan maturity
- home and business address must be within any of the bank’s service regions
- must have active home landline, office or business landline, and mobile number
- applicant must be in the same business for at least 3 years
- your business should have been operational for the past 3 years with at least 2 continuous years of profitability
- business should be duly registered with DTI or SEC
- average monthly income of Php 200,000
For Professionals:
- a Filipino citizen
- at least 23 years old but not older than 65 years old during the loan maturity
- home and business address must be within any of the bank’s service regions
- must have active home landline, office or business landline, and mobile number
- applicant must be practicing the same profession for at least 3 years already at the time of the loan application
In applying for the loan offer, aside from the eligibility requirements, there are also documentary requirements for the Maybank Personal Loan application that must be prepared and submitted to the bank.