Plan your next vacation, purchase new gadgets, or make those home improvements you’ve been wanting to do – all with Maybank.
Headquartered in Malaysia, Maybank started its operations as a commercial bank in the Philippines in 1997. Ranked by Bloomberg Markets as one of the World’s Top 20 Strongest Banks, Maybank has approximately 80 branches in the country. If you’re looking for a personal loan that gives you uniformity in your repayments, a Maybank personal loan could be a good solution. With a fixed interest rate, fixed monthly repayment and flexible payment term, a personal loan from Maybank offers certainty and predictability.
Find out more about its personal loan offerings below.
finder does not currently have access to this personal loan provider. Please review the product details, application criteria and terms and conditions on the provider website if you are considering applying for this product.
Types of personal loans from Maybank
Depending on your needs and what you’re looking to finance, you have a few options to choose from if you’re looking to finance with Maybank:
- Personal loan. Known as Maybank enAble Personal Loan, this is an unsecured personal loan that has no requirement for security. The funds may be used for any personal expenses, from home renovation to bill payments or even taking a holiday. The monthly repayments are fixed and you can choose between payment terms of 12, 18, 24 or 36 months. Loan amounts are available from PHP500,000 to PHP1,000,000.
- Auto loan. Maybank offers auto loans for both new and used cars (any vehicle up to 10 years) with the vehicle offered as security. The minimum down payment is 20% for new cars and 30% for used cars. In addition, you can get your new set of wheels faster with Maybank’s one-day approval process.
Features of Maybank’s personal loan
If you’re interested in applying for Maybank enAble personal loan, here are some of the notable features that make it worth considering, including:
- Flexible loan amounts. Finance whatever you need with a wide range of loan amounts, from PHP50,000 to PHP1,000,000. However, do note that the requested loan amount is subject to approval based on a variety of factors, such as your credit rating and annual income.
- Loan terms. Choose a flexible payment term of either 12, 18, 24 or 36 months that suit your budget.
- Fast approval. As no collateral is needed for this loan, loan applications may be approved within 5 to 10 days.
Other products offered by Maybank
A bank with an extensive global network, Maybank offers a full suite of banking products, such as:
- Deposits. Maybank offers many different bank accounts for personal and business use. Depending on your needs and financial goals, you can choose from a range of savings, checking, time deposit and foreign currency accounts.
- Credit cards. Benefit from high rewards and financial flexibility with Maybank’s wide assortment of credit cards. Whether you’re looking for high rewards or prestige, you can choose one that suits your spending patterns and finances.
- Housing loans. Maybank caters to every housing needs with its MaxiHome loans: home acquisition, home equity, refinancing and construction.
- Investments. Diversify your portfolio and reach your financial goals with Maybank’s investment offerings, such as trust funds and insurance-linked products.
- Business banking. You can access business funding to expand your operations or streamline finance management through Maybank’s corporate banking products and services, such as term loans and a revolving line of credit.
How to apply for a personal loan from Maybank
Ready to apply for a Maybank personal loan? At the time of writing (October 2018), Maybank’s online application facility is currently being updated for a better customer experience. In the meantime, you’ll need to email the following details to Maybank’s customer service department at firstname.lastname@example.org. A bank representative will then contact you for further requirements.
- Referral code
- Loan amount (Minimum PHP50,000)
- Loan term (12, 18, 24 or 36 months)
- Loan purpose
- Full Name
- Date of birth
- Place of birth
- Civil status
- Home address
- Residential status
- Home number
- Provincial address
- Mobile number
- Other loans you’re currently servicing
- Credit cards you currently own
- Employer/business name
- Employer/business address
- Years working or in business
- Office number
- Employer’s address
- Gross monthly salary
To qualify for a personal loan with Maybank, you must meet all these criteria:
- You must be at least 23 and not more than 65 years old upon loan maturity.
- You must be a Filipino citizen.
- Have a landline number (residential and office/business) and a mobile number.
- Be working or residing within any of the bank’s service regions.
Employment and income requirements:
- Salaried employees: Must be employed by the current employer (must be one of the Top 7,000 companies in the Philippines) for at least two years. Minimum gross monthly income of PHP25,000.
- Professionals or Self-employed: Must be in the same business or profession for at least five years. The business must be in operation for the past five years and profitable for at least two consecutive years with an average monthly income of PHP200,000.
Make sure you have the following documentation close by for quick reference: