Metrobank Loan Review: Loan Calculator, Requirements, Application

Metrobank Loan Review: Loan Calculator, Requirements, Application

What is Metrobank?

Established in 1962, Metrobank is the second largest universal bank in the Philippines with over 950 branches nationwide. The bank offers a wide range of financial products and services, including savings and checking accounts, loans, credit cards, investments, insurance, and remittances. Metrobank also offers online banking and mobile banking services.

One of Metrobank's key products is its loan products. Metrobank offers both secured and unsecured loans, as well as term loans, cash advances, overdrafts, and credit cards. The bank also offers competitive interest rates on its loans, making it an attractive option for borrowers.

Metrobank's loan products are designed to meet the needs of both retail and corporate clients. The bank has a wide range of loan products to choose from, making it easy for Filipino customers to find a loan that suits their needs.

Metrobank loan, how does it work?

Personal loan

Personal loan at Metrobank Philippines is an unsecured installment loan that’s repaid with fixed interest rates. This payment terms are 12 to 36 months and the interest rates are usually lower than credit card rates, making them an attractive option for people who need to borrow money.

One of the benefits of a personal loan is that it can be used for any purpose the borrower chooses—vacation, medical bills, tuition fees, weddings, debt consolidation, etc. This gives them flexibility in how they use the funds.

Metrobank personal loans are typically easier to obtain than other types of loans, such as mortgages or car loans. This is because personal loans are unsecured, meaning that the lender does not require any collateral from the borrower. This makes them a good option for borrowers who may not have assets to use as collateral.

Home loan

One of the Metrobank loans you can avail of is a home loan. This is the loan you should apply for if you’re looking to purchase or refinance a home or property. The loan amount can cover up to 90% of the property value, with a fixed interest rate and flexible payment terms. However, this will depend on your credit history and ability to pay.

To qualify for a Metrobank home loan, applicants must have a minimum monthly income of PHP40,000 and be between 21 and 65 years old.

The loan requires the borrower to provide collateral in the form of assets that can be used as security for the loan. The assets can be in the form of cash, real estate, stocks, or other investments.

The amount of money that can be borrowed with a Metrobank home loan varies depending on the value of the collateral. The interest rate and terms of the loan may also vary depending on the type of collateral that is used as security. You can use the Metrobank housing loan calculator for estimates.

The application process is simple and straightforward. Applicants just need to provide proof of income, ID, recent bank statements, and collateral requirements. The bank will then evaluate the applicant’s credit score and loan history.

Cash loan

Metrobank cash loan is a short-term loan which borrowers can use to finance their needs. The loan has a fixed interest rate and can be paid in installments.

A cash loan is similar to a personal loan in many ways. An added option to avail of a quick cash loan from Metrobank is to use cash advance through your Metrobank credit card. This type of loan allows borrowers to get a cash advance up to 80% of their credit limit, which is a great way to cover unexpected expenses.

The borrower must have an active Metrobank account and must be able to provide proof of income. He or she must also be at least 21 years old and have a clean credit history.

Salary loan

Metrobank salary loan is designed specifically for employees who receive their salary through direct deposit with Metrobank. It's a fast, convenient, and easy way to borrow money.

The salary loan option can be done through Metrobank’s payroll cash advance offer. Employers can advance a portion of their salary using the debit card issued by their employers.

This is a pre-approved cash advance salary loan, so there’s no application forms to fill out. Payroll salary loan has zero interest, but you have to pay a one-time fee of PHP175. The amount for the payroll cash advance varies between individuals depending on their salary.

So, if you're in need of extra cash between paychecks, a Metrobank salary loan is a great option for a quick cash with no interest.

OFW loan

Metrobank offers a range of OFW loan programs, all of which are designed to help Filipinos who are working overseas.

The Metrobank OFW loans include home loans and car loans. There’s also a Metrobank motorcycle loan available for OFWs. With flexible terms and low interest rates, Metrobank makes it as easy as possible for OFWs to get the money they need to buy a home or a car by offering competitive rates.

The Metrobank loan interest rates on OFW loans are among the lowest in the market, and the bank offers flexible repayment options to help make it easier for borrowers to manage their finances. OFW borrowers can also choose to have their loan payments automatically deducted from their bank account each month, making it easy to stay on top of their payments.

How much does Metrobank loans?

Metrobank offers different loan amounts depending on the type of loan being availed. The bank offers both short-term and long-term loans, with interest rates that vary depending on the loan term.

For home loans, Metrobank offers an 80% loan-to-value (LTV) mortgage facility for both purchasing and refinancing purposes. This means that the maximum loan amount you can borrow is 80% of the property's selling price at low fixed interest rates for up to 25 years to pay. The minimum loan amount for lot purchase or construction is PHP500,000.

Interest rate

The interest rates vary depending on the loan amount and loan term. For home loans, the interest rate is anywhere from 5.75% to 6.75% for short term loans of up to 5 years. You can expect lower rates with Metrobank home loan promos.

For car loans, the interest rate is 4.1% to 26.990% with loan term anywhere from 12 to 60 months. You can use the Metrobank auto loan calculator to know the amount you can borrow and the monthly amortization as well as the Metrobank auto loan rates. From time to time, there will fantastic promos like the Metrobank car loan promo 2021.

For personal loan, the interest is as low as 1.25% per month. Salary loan through the payroll cash advance facility has no interest. You can check out the Metrobank personal loan calculator to get an idea of the estimated repayment amount.

How long does it take to release the loan?

The bank has a quick approval process, typically within 3 to 5 business days. Upon approval of the loan, the money will be released within 2 business days.

However, the bank may need more time to process your Metrobank loan application if you are applying for a large loan amount or if you have a poor credit history. Metrobank may take longer to approve your application.

Metrobank loan benefits

  • Metrobank loans have competitive interest rates that are lower than most other banks.

  • The approval process is quick and easy, and you can get your money in as little as 2 business days upon approval.

  • The loans are available for a wide variety of purposes, including home improvement, education, and small business start-ups.

  • Metrobank offers a maximum loan amount of PHP 1 million for personal loans with flexible repayment terms from 12 to 36 months.

How to apply for a loan at Metrobank?

To be able to obtain your Metrobank loan you will have to follow the next steps:

  1. Choose the type of loan you're interested to request.
  2. Prepare all of the requirements - which may vary depending on the loan you want to apply for -.
  3. Visit any of the Metrobank branches.
  4. Deliver the requirement and fill up the application form.
  5. The process may take a few days but still Metrobank will reach out to you if the loan is approved.


  • Be sure to have the financial capacity to pay your loan installments.
  • In case you have questions don't be afraid to reach Metrobank customer service.
  • Be sure of the interest rate, monthly payments, loan term, etc... that you're applying for.

Metrobank Loan Requirements

  • One valid government-issued ID (Passport, UMID, driver’s license, etc.)

  • [FOR EMPLOYEES] Certificate of employment with compensation (for employees)

  • [FOR METROBANK BUSINESS LOAN] Proof of business registration, financial statements, and income tax returns covering the last 2 years

  • [FOR OFW] Passport, Proof of employment (POEA contract, Certificate of Sea Service, Certificate of Employment and Compensation)

  • Bank statement (latest 6 months)

  • Marriage contract (if applicable)

  • Collateral documents (for home loan)

Loan calculator

Metrobank offers a loan calculator on their website that helps borrowers see the principal and interest paid on a loan. The Metrobank loan calculator is easy to use; just input the amount of the loan, the interest rate, and the number of years you would like to repay the loan. The calculator then calculates the monthly payment, total amount paid, and final payoff date. This information can help borrowers plan their budgets and make informed decisions about taking out a loan from Metrobank.

How to check for a loan status?

You can check the status of your loan application by going to Metrobank website and clicking on "Loan Application Status." From there, you will be able to input your loan details in order to track the status of your loan at Metrobank. Alternatively, you can call Metrobank’s hotline or send an email.

How to pay for the Metrobank loan?

If you have taken a loan from Metrobank, there are several ways to pay for it:

  • You can make a payment in person at any Metrobank branch.
  • Through the bank's online banking system, or at partner payment centers.
  • If you have an automatic payment set up, your monthly payment will be automatically deducted from your checking or savings account.

What happens if I can’t pay?

If you missed your loan payments, you will be charged with late payment fees and interest charges. If you are unable to pay your Metrobank loan, the bank may take legal action against you, for instance:

  • The first step the bank will likely take is to file a complaint with the local court or tribunal.
  • If the court finds in favor of the bank, it may order you to pay the debt plus interest and penalties.
  • If you do not comply with the court order, the bank can seek a judgment against you.
  • This judgment gives the bank authority to garnish your wages or seize assets to satisfy the debt.

Metrobank, customer service

  • Hotline: (02) 88-700-700 (domestic toll-free 1-800-1888-5775)

Metrobank loan reviews

Metrobank loan reviews are generally positive. The consensus seems to be that, overall, borrowers are happy with their Metrobank loans. The interest rates are reasonable, and there haven't been any major surprises in terms of fees or other costs. There’s transparency when it comes to the additional charges.

There were some complaints about the processing time for getting a loan approved, in that it took longer than the expected time. Overall, though, it appears that most people are fairly satisfied with their Metrobank loans.

Have you used the Metrobank loan? Share your experience here.
Rajan M Acevar

I got the loan

Castillo, Baby Rose R.

I got a cash loan

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This article was updated on 15 april 2024