Guide on Maybank Personal Loan 2024 Features & Application
MAYBANK CASH LOAN 20245 – You may turn to the Personal Loan offer of Maybank to get the extra cash you need to get things done.
Nowadays, Filipinos have a lot of options in times of financial needs. Aside from the government entities providing cash loans, there are several banks that come with multi-purpose loans as well. One of them is Maybank.
Maybank is a trusted banking entity in the Philippines for several years now. It has both personal and business banking services. It got different deposit accounts, loans, and investment products among others. It has multiple loan offers. Are you looking for a multi-purpose one?
As mentioned, there are several loan offers. Aside from the Maybank Auto Loan, the bank also has the Personal Loan, a multi-purpose loan offer. This Maybank cash loan offer is ready to finance several purposes under a single loan and the intents may include the following:
- personal purchases
- minor home improvements
- travel
- minor business improvements
- hosting an event
How much is loanable under the Maybank cash loan offer? You may borrow up to P1 million. All loan applications are subject to the approval of the bank which considers the financial capacity of the client to pay for the loan.
The maximum loan term under the Maybank offer is 36 months. The interest rate is at 1.3% which the bank boasts as one of the lowest interest rates in the market. This loan offer is open for both employed and self-employed individuals.
With regards to the qualifications in applying for the Maybank cash loan offer, the lists vary among the eligibility criteria set for the salaried and non-salaried individuals. Here is a guide on who may qualify to apply for the loan offer:
For locally-employed loan applicants, here are the eligibility requirements that should be met to qualify for the loan offer:
- a Filipino citizen
- at least 23 years old but not older than 65 years old when your loan matures
- home and business address should be within any of the bank’s service regions
- with active contact numbers such as home landline, office or business landline, and mobile number
- with your current employer for 2 years work tenure and earning a minimum salary of Php 25,000
- employer should be one of the Top 7,000 companies in the Philippines
For self-employed individuals. here are the qualifications that are set to qualify for the Maybank loan offer:
- a Filipino citizen
- at least 23 years old but not older than 65 years old when your loan matures
- home and business address should be within any of the bank’s service regions
- with active contact numbers such as home landline, office or business landline, and mobile number
- in the same profession or the same business for at least 3 years
- business should have been operational for the past 3 years with at least 2 continuous years of profitability
- an average monthly income of Php 200,000
- business should be duly registered with DTI (Department of Trade and Industry) or SEC (Securities and Exchange Commission)
In applying for the loan offer, aside from the qualifications, there are documentary requirements under the Maybank cash loan that you should prepare and submit to apply for the loan offer.