Maybank Loan Requirements

Maybank Loan Requirements


Click for Application Form

Product Features

  • Loan Purpose
  • Purchase of House and Lot
  • Purchase of Lot
  • Purchase of Residential Condominium
  • Purchase of Townhouse
  • House Construction / Renovation
  • Refinancing

Loan Value

  • 80% of Maybank Appraised Value for House and Lot
  • 80% of Maybank Appraised Value for Residential Condominium
  • 60% of Maybank Appraised Value for Residential Vacant Lot

Prevailing Interest Rates:

  • Fixed 1 year – 6.00%p.a. ; subject to annual repricing thereafter
  • Fixed 3 years – 6.00%p.a.; subject to annual repricing thereafter
  • Fixed 5 years – 7.88%p.a.; subject to annual repricing thereafter

Term

  • House and Lot – Maximum of 20 years
  • Townhouse – Maximum of 20 years
  • Residential Condominium – Maximum of 20 years
  • Home Construction or Renovation – Maximum of 20 years
  • Residential Vacant Lot – Maximum of 10 years
  • For OFW Borrowers – Maximum of 10 years

Repayment

  • Equal monthly amortizations(principal and interest) to commence one (1) month from release date.

Basic Credit Parameters / Criteria for Borrowers

  • Age Requirement: 25 to 65 years old upon loan maturity
  • No adverse Credit Finding (i.e. Credit Cards, Court cases, Bank Acct. Handing, etc.)
  • If with Business / self-employed – must be existing for 5yrs and profitably operating for the past 3 years
  • If locally employed – must be regular in status Minimum combined monthly income (both spouses / co-borrowers) – P40K

Loan Requirements
For Employed Applicants: Atleast gainfully employed for 2 years

  • Latest Income Tax Return
  • Certificate of Employment, indicating the applicant’s position, tenure and monthly or annual salary
  • Latest 3 months payslips

For Self Employed: Profitably operating for the past 3 years

  • Business Registration papers (sole proprietorship and SEC for corporations)
  • Latest 2 years ITR
  • Latest 2 years Audited and Inhouse Financial Statements
  • Latest 6 months bank statements
  • List of Suppliers and customers with contact information (At least 3 )
  • Company Profile/ Business Background

For Professionals:

  • Professional Regulation Commission License
  • Latest 2 years ITR
  • Latest 2 years Audited and Inhouse Financial Statements
  • Latest 3 months bank statements
  • List of Suppliers and customers with contact information (At least 3 )

For Overseas Contract Workers (whichever is applicable for your current status at work)

  • Certificate of Employment stating position, years of service, basic salary & fix allowance
  • Latest ITR
  • Latest 3 months payslipss
  • Proof of Remittances (at least 3 months)
  • POEA contract (if applicable)
  • Latest 3 months bank statements
  • Working Visa/ Greencard holder/ Immigrant Visa (Originals of photocopied documents should be presented)

Collateral Requirements
If House and Lot:

  • Photocopy of Transfer Certificate of Title (TCT)
  • Tax Declaration (Lot and Improvement)
  • Lot Plan with Vicinity Map

If Condominium:

  • Condominium Certificate of Title (photocopy)
  • Master Deed of Declaration and Restriction
  • Floor Plan
  • Tax Declaration

Additional Requirements for House Renovation

  • Building plans and specifications
  • Bill of materials/cost estimate
  • Building Permit