How To Qualify For A Metrobank Loan: Metrobank Loan Application

As one of the largest and most trusted commercial banks in the Philippines, Metrobank is a multi-awarded, premier financial banking institution.

And it continues to elevate the quality of its service and broaden its networks.

Now, it already has 2,300 ATMs 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 a 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 or Seaman are required to submit different requirements when applying. Take heed of these requirements.

Metrobank Loan Requirements

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

For Identification

  • Government-issued ID card
  • Latest ID photo (1″ x 1″ or 2″ x 2″)
  • Anyone (1) of the following:
  • 3 months payslips
  • Latest Income Tax Return (ITR)
  • Certificate of Employment with details on salary, position, and length of service (original if OFW)

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 payslips (original)
  • 6 mos. proof of remittance (bank soa/ passbook)

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

Term In Arrears One Month Advance (OMA) In Arrears One 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 may cause you to pay no more  ₱5,000.00 pesos if you continue with the av-ailment of the loan.

Apply Now Fill out the application form and submit the required documents to get feedback within 24 hours.

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 want 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 about the bank and then give your personal and business details.

3. Home Loan

Metrobank provides home loans 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.

Apply now:

What are the interest rates?

Interest rates start for as low as 5.75% on a 1-year fixing period.

Fixing Period New Booking Rates
1-year fixing 5.75%
2-year fixing 5.75%
3 -year fixing 5.75%
4-year fixing 6.75%
5-year fixing 6.75%

MetroHome Loan Fees:

  • Registration fee – Based on RD schedule / table
  • Notarial fee – PHP 300 / document
  • Appraisal fee – PHP 4,000 (Metro Manila) / PHP 4,500 (countryside)
  • Title investigation fee – PHP 1,000 / title
  • Handling fee – PHP 5,000
  • Mortgage redemption insurance (standard rating) – For quotation
  • Property insurance – For quotation

Rates are indicative figures only and will be subject to final review and assessment upon application.

What can I do with a Metrobank home loan?

You can:

  1. Purchase a lot
  2. Purchase a house and lot
  3. Purchase a lot and construct a house
  4. Build a house and a lot you own
  5. Buy a condominium
  6. Buy a townhouse
  7. Renovate or extend your house
  8. Refinance or take out an existing housing loan
  9. Reimburse amount paid for the house, lot, condo, or townhouse
  10. Use real estate for personal investment (i.e. build and sell, home mortgage)

Tips when applying Loan:

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.

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.

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.

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 the 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.

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:

How long does it take to get approved?

The processing of a loan often takes 5-10 days. Within that same time frame, the bank officer will then call you once your loan is approved.

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

Can I Apply for Metrobank Loan Abroad or online?

Actually, over $24.35 billion worth of remittances has 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 amount of ₱500,000.00
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-buyers tie-up: up to 80% of the selling price

How long do I have to repay my loan? Loan amortizations run at a minimum of 5 years and a 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 the lot and house construction, House construction on the 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 the 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 the 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

Just 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 In case you want to contact the bank via telephone no., here’s the number: (632) 898-8701; (632) 898-8702



I learned a lot about finance after working for a digital marketing company specializing in investing and trading stocks, forex, etc. After that, I got exposed to other verticals such as wealth management and personal finance, which further improved my understanding of the financial world.






3 thoughts on “How To Qualify For A Metrobank Loan: Metrobank Loan Application”

Leave a Comment