Features of Maybank Home Loan Offer for Qualified Clients
MAYBANK HOME LOAN – Maybank Philippines is ready to help buy the dream house of qualified clients through its loan offer.
Are you looking for a bank where you may apply for a loan that can finance the purchase of your target residential property? There are some reputable banks in the Philippines and the list includes Maybank.
Maybank Philippines is one of the biggest and most popular banking entity in the country which has gained the trust of millions of Filipinos. Its clients include not only clients in the country but as well as overseas Filipino workers that have availed the products and services offered by the consumer finance provider.
Maybank offers different kinds of bank accounts, loans, and investment products. In terms of loans provided by the bank, among the offers are the home loans that serve different purposes including the financing of a residential property purchase.
Under the offer, you may apply for the loan to finance the purchase of any of the following types of properties:
- house and lot
- condominium unit
- townhouse
How much you may borrow under the Maybank Home Loan offer? The minimum loanable amount is Php 500,000. With regards to the maximum loanable amount under the offer, they vary depending on the type of property involved:
- up to 60% of the appraised value of the residential lot
- up to 90% of the appraised value of the house and lot
- up to 90% of the appraised value of the condominium unit
- up to 90% of the appraised value of the townhouse
The above-mentioned loanable amounts are for the financing of the properties that are under the developers accredited by Maybank. With regards to the interest rates implemented by the bank, it depends on the chosen fixing term.
Here are the fixed term options and the interest rates under each fixing term:
- 1 year fixing : 6.75% p.a.
- 3 year fixing : 7.25% p.a.
- 5 year fixing : 7.50% p.a.
According to Maybank, all properties are subject to appraisal. The borrower will shoulder the registration fees, processing fees, insurance premiums and other incidental expenses. Each loan account is subject for Life/Mortgage Redemption Insurance (MRI) and Fire Insurance (FI) coverage.
The Maybank Home Loan offer is open for the locally-employed and self-employed individuals as well as overseas Filipino workers (OFWs). There are varying qualifications for Maybank Home Loan application.
