Details about the Metrobank Car Loan Loanable Amounts
METROBANK CAR LOAN 2024 – Here is a guide on how much you may borrow under the loan offer of Metrobank Philippines.
Nowadays, there are a lot of options that you can choose so you can achieve your dream car without having to go through a one-time cash payment. Among these are the loan offers provided by banks and other financial entities.
In the Philippines, one of the banks that you may turn to is Metrobank, a reputable banking firm in the country. It has several offers for the Filipinos including different types of loans aside from the bank accounts, credit cards, and investment services.
Aside from the Metrobank Home Loan offer, the bank also has the Metrobank Car Loan offer that is ready to finance the purchase of a brand new vehicle as well as re-imburse a brand new car purchase.
Under the loan offer, you may borrow up to 80% of the net selling price of the vehicle. For example, if the net selling price of the vehicle is Php 1 million, you may borrow up to Php 800,000.
The Metrobank Car Loan allows the clients to repay the loan for at least 12 months but not more than 60 months. To qualify for the loan offer, a client must meet the eligibility requirements set by the bank which depends if you are employed or self-employed.
For the salaried individuals, here are the eligibility requirements set by the bank for application:
- at least 18 years old at the time of the loan application
- earning a minimum gross monthly family income of PHP 40,000.00
- with good credit history with no adverse findings
- has a minimum employment tenure of 2 years with current employer
If you are self-employed, here are the qualifications set by the bank for application:
- at least 18 years old at the time of the loan application
- earning a minimum gross monthly family income of PHP 40,000.00
- with good credit history with no adverse findings
- running a business with a profitable operation for the past 3 years
To apply for the Metrobank Car Loan, there are steps that you may follow to ensure a smooth process.
