MAYBANK ENABLE PERSONAL LOAN
Get the lowest add-on rates available in the Philippines, for all your cash needs.
Benefits
- 1% add-on per month for employed borrowers and 1.3% for self-employed borrowers.
- Borrow any amount from ₱50,000 to ₱1,000,000.
- Flexible terms from 12 to 36 months.
Product Features
- financing amount: ₱50,000.00
- Financing amount: Up to ₱1,000,000.00
- loan tenure: 1 year
- Loan tenure: 3 years
- Interest rate: Fixed interest rate starting at 1.10 / 1.30% per month for employed / self – employed
- Approval duration: Up to 5-10 working days
- Debt consolidation: No
Fees & Charges
One time set up
- Processing fee: ₱2,000.00
- Stamp duty: ₱1.00 for every ₱200.00 in excess of ₱250,000.00 of the loan amount
- Disbursement & misc. fee: N/A
Penalties
- Early settlement: None if you have informed the bank one month ahead.
- Late payment charges: 5.00% p.a. on any balance outstanding
Eligibility
- Age requirement: Age 23 – 55
- Employment eligibility: At least ₱18,000.00 monthly income for employed or ₱200,000 for self-employed
- salary requirement: ₱25,000 gross per month
- Guarantor / Collateral requirement: No
Other Requirements
- Need to open linked banked account? : Yes
- Other details: Method of Payment – Cash, Online banking, Check or ATM Transfers
Maybank Personal Loan FAQ
- How much can I borrow?
With a Maybank Personal Loan, borrow as much as ₱1,000,000, subject to approval.
- What are the Maybank Personal Loan Requirements?
An applicant must fulfill Maybank’s eligibility criteria for a loan:
- At least 23 years old; 55 years old upon loan maturity
- A Filipino citizen with a residence and office landline
For employed:
- At least 2 years with the current employer
- Supervisory level and upwards
- Monthly income of ₱25,000 (basic)
- Employer must preferably belong to the Top 7,000 Corporations
For self-employed and professionals:
- Borrower must be at least 23 years old; 55 years old upon loan maturity
- At least 5 years in the same business or profession
- Business must have been in operation for the past 5 years and profitable for the past 2 years
- Average monthly income of ₱200,000
Consequently, after filling out an application form, the following documents are necessary:
Fully Employed applicants need:
- Filled out application form
- Original certificate of employment w/ compensation or 1 month pay slip
- Photocopy of latest ITR or BIR 2316
- Photocopy of 2 valid IDs
- Photocopy of latest credit card billing statement
- Billing statement with residence address
- Photocopy of latest utility bill with residence address
Self–Employed applicants need:
- Filled out application form
- Photocopy of DTI/SEC
- Photocopy of latest 2 years ITR and Financial Statements
- Photocopy of latest 6 months personal bank statements
- Photocopy of 2 valid IDs
- Photocopy of latest utility bill with residence address
- Photocopy of latest credit card billing statement
- List of 3 Major suppliers and customers
Additional documents may be required during credit evaluation.
- How does the Maybank Loan Calculator work?
The Maybank Personal Loan calculator computes the estimated cost of borrowing and amount of payment per installment. Input the desired loan amount to automatically get the estimated monthly amortization for different tenors.
