Guide on Metrobank Car Loan Requirements 2024 for Application Process
METROBANK CAR LOAN REQUIREMENTS 2024 – Here is a guide on the documents you must submit to apply for the Metrobank offer.
One of the car loan offers that has helped countless people in the Philippines is the Metrobank Car Loan. It comes with best features including a huge loanable amount that can finance up to 80% of the net selling price of the vehicle.
Also, the bank offers flexible payment terms of up to five (5) years thus there is really an option for light monthly installments. To apply for the offer, there are Metrobank Car Loan requirements that you need to prepare and submit to the bank.
The Metrobank Car Loan requirements depend if you are locally-employed, self-employed, an overseas Filipino worker (OFW), or a foreigner. Here is a guide on the documents required by the bank:
Locally-Employed
- Filled out and signed Metrobank Car Loan Application Form
- one valid government-issued ID (preferably passport)
- proof of income
- Original Certificate of Employment with compensation (COEC), position or job title, and date employed or tenure
- Latest 3 months’ electronic payslips
- Latest ITR or BIR Form 2316*
Foreigners
- Employed
- Filled out and signed Metrobank Car Loan Application Form
- one valid government-issued ID (preferably passport)
- Passport and
- ACR with annual fee official fee receipt or valid PRA SRRV ID
- Business
- Filled out and signed Metrobank Car Loan Application Form
- Passport and
- ACR with annual fee official receipt or valid PRA SRRV ID
OFW
- Filled out and signed Metrobank Car Loan Application Form
- valid Philippine passport
- Source of Repayment:
- For land-based OFW, Original Certificate of Employment with Compensation (COEC), position or job title, tenure, employer’s email OR
- For sea-based OFW, Latest POEA contract and Certificate of Sea Service with work history and tenure
- Proof of monthly remittance for the last 6 months in the name of the OFW or his immediate family members OR 3 months’ payslips/payroll bank statements
Self-Employed
- Filled out and signed Metrobank Car Loan Application Form
- one valid government-issued ID (preferably passport)
- Business Papers:
- If Single Proprietorship, DTI Certificate of Registration or Business Permit
- If Corporation or Partnership, SEC Registration with Articles of Incorporation and By-Laws (or Articles of Partnership)
- Source of Repayment(any one of the following):
- Latest 2 years Income Tax Return (ITR) and 2 years Audited Financial Statements (AFS)
- Latest 6 months’ bank statements
Before applying for the loan, it is best to also check the Metrobank Car Loan interest rates and the fees that the bank may charge you.
