Steps in Getting a Loan In Metrobank
1.) Before going to the bank, you must prepare and secure these requirements first. You are going to submit these requirements to the bank. Requirements depends on the type of loan you want to avail. The types of loan are CAR loan, HOUSE loan or BUSINESS loan.
Requirements in getting a CAR loan
- Signed Car Loan Application Form. You can download it here: Metrobank Car Loan Application Form
- Valid Government-issued ID. Here a list of valid ID's in the Philippines.
- Latest Income Tax Return (ITR) or Certificate of Employment with details on salary, position, and length of service (with contact number of the company's HR)
Requirements in getting a HOUSE loan
- Signed Home Loan Application Form. Download it here: Metrobank Home Loan Application Form
- Valid Government-issued ID
- Passport or ACR (if Foreigner)
- Income Tax Return or Certificate of Employment or 3 months payslips (for employees)
- Land-based Certificate of Employment with email of employer or Sea-based Latest POEA contract (for OFWs)
- 6 months banks statement with BOO Certification of "No Overdraft" Charges (for Business Owners)
- Transfer of Certificate of Title or Condominium Certificate of Title (as Collateral Requirement)
- Tax Declaration (as Collateral Requirement)
- Contract to Sell or Reservation Agreement (if under developer tie-up only)
- House Plans/Bill Materials/Specifications (for house construction only)
Requirements in getting a Business Loan (for owners of Small-Medium Business Enterprise or SME)
- Signed Business Loan Application Form. You can download it here: Metrobank Business Loan Application Form
- One valid Government-issued ID
- Business Registration Certificate/Business Permit
- Proof of Billing
- Photocopy of Income Tax Return for the last 3 years
- Photocopy of Audited Financial Statement for the last three years
- Bank Statements for the last six months
- Copy of Transfer Certificate of Title or Copy of Condominium Certificate of Title (Owner's Duplicate Copy)
- Certificate of Placement
- Update Tax Declaration
- Vicinity Map/Location plan/Lot plan and Bill of Materials (if for construction)
2.) If you have all the requirements needed in a certain type of loan, you can go to any Metrobank branch or to your Metrobank branch of account.
3.) The bank will process your application, verify all the information you submit. Processing takes several days. You will be contacted if your loan is approved.
Tips
- Don't hesitate to ask questions to the bank. If needed, you can write down your concerns or questions before going to the bank. Some of the questions you may want to know might be about the interest rates, term of loan, monthly payments, etc.
- Make sure you have the capacity to pay your loan before you apply for it. It means that you have enough net income or enough allocation of your net income to pay our loan. Or you have enough assets to liquidate in order to pay your loan.
Do you want to avail a loan in Metrobank? Tell us in the comment below.
- https://www.affordablecebu.com/