CAR LOAN
Application Requirements
Pre-Approval
SALARIED INDIVIDUAL
OFW
BUSINESS
Post-Approval
SALARIED INDIVIDUAL
OFW
BUSINESS
Am I qualified to avail a Metrobank Car Loan?
Payment options
Loan Terms: Pay equal monthly amortization in 12, 18, 24, 36, 48 or 60 months
Loanable Amount: Loan for as low as Php250, 000 or as much as 80% of the net selling price
Down payment: Pay as low as 20% of the net selling price on your initial cash out
Mode of Payment: Pay your monthly amortization with convenience through an Automatic Debit Arrangement (ADA) or through post-dated checks (PDC)
Payment Scheme: Pay your first monthly amortization 30 days after your approved loan is booked (In Arrears). – OR – Pay your first monthly amortization upon the release of your unit, at lower rates (One-Month Advance or OMA).
Minimum down payment: their required minimum down payment is 20% of the vehicle’s selling price.
Other charges aside from the down payment: You will also need to pay for the Chattel Mortgage Fee, handling fee, and the one-month advance payment (if you choose the One-Month Advance payment scheme).
Please note that you will be required to secure a Comprehensive Motorcar Insurance Policy with an Acts of Nature Coverage for the vehicle, before it is released to you.
Documents Required
If you are employed, the pre-approval requirements are:
Based on your financial capacity, additional documents may be required. A Car Loan Specialist will keep in touch with you regarding your application, and for any other documentary requirements that you will need to submit.
For non-Filipino applicants, they will need a copy of your:
For Overseas Filipino Worker (OFW)
For sole proprietors
Any of the following:
Please remember the following details after the car loan is released:
Note: If you miss monthly amortization/installment payment, a late payment fee of 5.00% per month will be levied on any unpaid amortization computed from the date of default until full payment of the amortization/s due.
Equity Mobile App is a new mobile banking app that replaces the old Eazzy Banking…
Loop by NCBA is a digital banking service by NCBA Bank Kenya that lets customers…
What are the requirements for a customer to have a Timiza Account? Be a registered…
Absa Bank launched Timiza, a mobile banking App that allows people to apply for loans…
1. Fuliza Fuliza is an on-going overdraft service available for Safaricom’s M-PESA customers for them…
1. Mobile Loan Family Bank mobile loan allows both their customers’ and non-customers to access…