As one of the largest and most trusted commercial bank in the Philippines, Metrobank is a multi-awarded, premier financial banking institution. And it continues to elevate the quality of its service and to broaden its networks. Now, it already has 2,300 ATM’s nationwide, 950 domestic branches, and 32 foreign branches making it easily accessible to apply for.

One of Metrobank’s offered services is its direct personal loan products. They offer car, corporate, and housing loans,that offer competitive promo rates and affordable interest rates to provide the best for their families. This includes a car and a home they can call their own. Metrobank has created these loans which include OFWs as their potential borrowers. Perhaps, it was the clients and the bank’s shared vision to make it big and the passion for excellence that made Metrobank become what it is today: a financial institution that is highly regarded and well-trusted.


So, if you are in need of money to pay for your children’s tuition fee, home purchase, car purchase, or capital for start-up business, here is a complete guide for you if you are planning to apply for an affordable loan that has minimal interest. Basically, OFWs are required to submit different requirements when applying. Take heed of these requirements.

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Metrobank Loan Requirements

OFW’s abroad are eligible for a Metrobank loan based on a different set of eligibility requirement. Aside from the completely filled application form, to get approved, there are other requirements OFWs must bring with them if they wish to avail direct personal loan. Here are those:

  1. For Identification
    • Government issued ID card
    • Latest ID photo (1″ x 1″ or 2″ x 2″)
    • Any one (1) of the following:
      1. 3 months payslips
      2. Latest Income Tax Return (ITR)
      3. Certificate of Employment with details on salary, position and length of service (original if OFW)
  2. Source of Repayment:
    • Land Based – Certificate Of Employment with e-mail of employer Sea Based – Latest POEA Contract
    • For Self Employed – 6 months bank statement with BOO Certification of “No Overdraft Charges”
    • Latest Income Tax Return
    • 3 months of pay slips (original)
    • 6 mos. proof of remittance (bank soa/ passbook)
  3. Collateral Requirements
    • Land Based – Certificate Of Employment with e-mail of employer Sea Based – Latest POEA Contract
    • Transfer Certificate of Title/Condominium Certificate of Title
    • Tax Declaration
    • House Plans / Bill of Materials / Building Specifications (for construction loans) OR Contract-to-Sell (CTS) or Reservation Agreement (RA)

How to Apply for a Personal Metrobank Loan

Follow these easy steps when applying for a Metrobank personal loan.

  1. Visit the nearest Metrobank Branch in your area. Make sure that you bring with you all the requirements needed.
  2. Once your inside and it’s your turn, submit all these requirements to the bank officer. Ask if there are any more additional requirements (Some banks may require you additional requirements not listed above) The Metrobank loan processing officers will be the ones to check or verify all your documents.
  3. Prepare to pay for these fees:
    1. Appraisal Fee – to be paid upon application – ₱3,000.00 – ₱ 3,500.00
    2. Handling Fee – to be paid upon approval of loan/deducted from proceeds – ₱2,000.00
    3. Inspection Fee – to be collected for construction loans only, upon every stage of completion inspection – ₱500.00 per inspection
  4. Other fees and charges

Note: The processing takes a few days. It is usually 5-10 days after you’ve submitted your application form that the bank will contact you if your loan is approved.

Metrobank Loan Products/Programs

1. Car Loan

Metrobank Car loan is made available for Filipinos aged 21 to 65 years old and living in the permanent residence for the past five years. The borrower must have been employed in the current company for two (2) years. You can borrow from ₱250, 000.00 up to 80% of the net selling price of the vehicle. Most banks offer at least ₱100,000.00.

Rates and Fees

TermIn ArrearsOne Month Advance (OMA)In ArrearsOne Month Advance (OMA)
12 mos.8.44%7.27%9.37%8.21%
18 mos.8.44%7.57%9.37%8.22%
24 mos.9.24%8.56%9.24%8.56%
36 mos.9.44%8.93%9.44%8.93%
48 mos.9.53%9.13%9.53%9.13%
60 mos.9.68%9.35%9.68%9.35%

Also, take heed that you still have to pay for handling fee worth  ₱1,500.00 pesos and Chattel Mortgage Fee Composition, which may vary depending on the amount of loan. This many cause you to pay no more  ₱5,000.00 pesos if you continue with the av-ailment of the loan.

2. Business Loan

Metrobank has three types of business loans which are SME Credit Line, SME Short-term Loan, and Long-term Loan. SME Credit Line is for people who wants to increase their working capital or those who need funding for their daily business operations. On the other hand, the two SME term loans are for those who are looking at acquiring a commercial property or equipment, so to speak, those who need to add more permanent working capital. Aside from these, SME term loans are also for people who wants to:

  • acquire new machinery/equipment, construction, or renovation of commercial property (i.e. warehouse, facility, or building),
  • franchise financing
  • take-out a loan from another bank.

As for the interest rate, the amount of Metrobank business loan interest rate is not shared on its online site. So, you have to inquire on the bank and then give your personal and busi ness details.

3. Home Loan

Metrobank provides home loan for their customers aged 21-65 years old. The borrower must be living in the current residency for the past five (5) years and earns at least  ₱30, 000.00 as a regular employee. For OFWs, they can also apply for a loan but they must earn a minimum monthly income of $1,000 and have been working for the current employer for the last two years.

The Metrobank home loan interest rate ranges from 5.50% to 10.50%. This is a highly competitive interest rate. You can borrow up to 70% to 80% of the property value.

Interest Rates and Fees for a Metrobank Housing Loan

Period (Fixing Basis)Board RatesPromo Rates
1 year5.20%5.0%
2 years6.25%
3 years6.25%5.75%
4 years6.88%
5 years6.88%6.38%
6-10 years8.50%
11-15 years10.50%
Metrobank Home Loan Application Documents

What can I do with a Metrobank home loan?

  • You can:
    • Purchase a lot
    • Purchase a house and lot
    • Purchase a lot and construct a house
    • Build a house an a lot you own
    • Buy a condominium
    • Buy a townhouse
    • Renovate or extend your house
    • Refinance or take-out an existing housing loan
    • Reimburse amount paid for house, lot, condo, or town house
    • Use real estate for personal investment (i.e. build and sell, home mortgage)

Tips when applying:

  1. Take heed that you bring with you all the needed requirements to have a hassle-free experience applying. I’m sure you would not want to go back and forth to the bank just because you forgot to bring everything you needed with you.
  2. When applying for any of these loans, take note that it is best to borrow what you just need, and not because you just want a particular loan, because there are still other fees to pay aside from the business, house, or car loan itself.
  3. If you are interested in a particular personal loan, you can use a loan calculator, which is available on the website, for you to know how much you can afford to borrow, what your monthly repayments might be, and the number of months or years you can choose to stretch your term and the payment method. By clicking the “calculate” button, you will be able to know what your monthly repayments might be should the loan amount you choose be approved.
  4. Never hesitate to ask questions to the bank officer. If there is something vague or hard to understand about what the bank officer said, raise your concern. If what you want to know is about interest rates, term of loan, monthly payments, feel free to open up. For you not to forget to ask any, it would definitely help if you write down your concerns or questions before going to the bank.
  5. Be sure that you are capable to pay for your loan. Don’t go beyond what you know you can avail. So make sure that you have a sufficient salary, net income, or assets in order to pay your loan.

Frequently Asked Questions:

    1. How long does it take to get approved?
      • The processing of loan often takes 5-10 days. Within that same time frame, the bank officer will then call you once your loan is approved.
    2. What are the valid IDs when applying for a Metrobank Loan?
      • Government issued ID (POEA ID or iDOLE ID for OFWs)
      • Valid ID, such as passport and driver’s license ID
    3. Can I Apply Metrobank Loan Abroad or online?
      • Actually, over $24.35 billion worth of remittances have been sent to the Philippines last year. That is why it is not that surprising that local lenders have been more than willing to accommodate OFWs who are looking to borrow cash, wherever the borrower is, even if they are living with their family abroad, or if their family is residing in the Philippines.
      • So, YES, Metrobank also offers an online loan application, which is the more convenient way for OFWs to apply for a loan, most especially if they’re living abroad with their family and cannot go to the Philippines yet.


  • How much can I borrow?
    • Minimum loan amout of P500,000.00
    • Maximum – Open, provided within 30% credit ratio or 60-80% loan to collateral ratio depending on the loan purpose, whichever is lower
    • For accredited developers/projects or end-buyer’s tie-up: up to 80% of selling price
  • How long do I have to repay my loan?Loan amortizations run at a minimum of 5 years and maximum of 25 years, depending on the loan purpose as detailed below:
    • Purchase of lot [10 yrs.]
    • Personal Investment [10 yrs.]
    • Renovation/ Expansion, Refinancing/Take-out, Reimbursement [15 yrs.]
    • Purchase of house and lot, Purchase of lot and house construction, House construction on owned lot, Purchase of townhouse [25 yrs.]
    • Purchase of condominium [25 yrs.]
  • How much do I have to pay for my loan?
    The interest rate added to the loan amount will vary depending on the prevailing market rates at the time the loan is released and may be fixed for 1 year, or for 2, 3, 4, 5 up to 10 years.
  • How can I repay my loan?
    You can pay via:
    Equal monthly amortization, covering principal and interest, to start one (1) month after loan is released
    Post-dated checks or auto debit arrangements
  • How are existing loans re-priced?
    Existing loans are repriced yearly after the initial fixing period, or every 2, 3, 4 or 5 years depending on availability of such longer fixing periods.
  • What other fees do I need to pay aside from my loan?
    • Appraisal fee
    • Handling fee
    • Inspection fee (construction)
    • Real Estate Mortgage Registration Fee
    • Doc Stamps
    • Notarial/Legal Fees
    • Insurance Premiums
  • Want to own your dream home? Apply for a home loan now!
  • Online Loan Calculator
  • Juts to be sure, you can inquire on Metrobank’s e-mail address or number if there is something you would like to be addressed. For phone calls, call their hotline number: (02) 870 0700. Here’s another alternative as the first one is almost always busy: (02) 870-0900. And for inquiries via e-mail, send it to [email protected] In case you want to contact the bank via telephone no., here’s the number: (632) 898-8701; (632) 898-8702

Pros of Choosing MetroBank as your lender:

All Metrobank Peso Visa/Mastercard Classic/Gold cardholders are entitled to avail of the Cash2Go Installment Program. Listed below is the loan amount and the corresponding tenors for different time periods. So if you are in need of a quick cash, you can avail these affordable loans with minimal interest rate.

In general, Metrobank is truly one of the most reputable commercial banks here in the Philippines. It continuing to serve millions of customers all throughout its 54-year old history is a living testament of the brand’s dependability.


Note: Monthly Interest Rates are at.0.99% for 12, 18, 24 & 36 months.
Their slogan, “You’re in Good Hands,” is more than just a slogan as it lives up to its promise of giving emotional and practical value, which the customers can expect to enjoy from the company or products it provides. Now, Metrobank has been continuously expanding to fulfill a promise that is the very pillar of the bank’s success.



  1. As for the loans, would it make a difference if I decide to pay ahead of time, like when I pay more than the required amount I have to pay for that month?

    Very informative article by the way.

  2. Hi sia thanks you very much for visiting my site. Paying ahead of time or before your due date is good that prevents you from late charges if you did not pay on time. But paying more than your monthly bill is no difference since loan interest is fix.

  3. ofw in vietnam ,
    my half salary is sending true bank in Philipines, Metrobank mangatarem branch. I want to apply a loan is it possible.

    • Hi Joey, once your loan was approve you can get the car anytime as long as your desire unit is available and you already paid the downpayment.

  4. Hello… I’m OFW here in Hong Kong.. I have a savings in metrobank.. Just wanna ask how to loan a money?… Thanks in advance


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