Maybank Enable Personal Loan

Malayan Banking Berhad or Maybank is a universal bank originating from Malaysia that operates in multiple ASEAN countries one of which is the Philippines. A Brand Finance report in 2020 acknowledges Maybank as Malaysia's most valuable bank brand, fourth in ASEAN and 72nd in the world. As one of the largest banks in Southeast Asia, rest assured that the product quality and level of customer service will reflect the same performance as compared to other regions. A Maybank Personal Loan is available to those who are in need of immediate funds and can be availed if you have a monthly gross income of at least ₱25,000 and between 23 to 55 years of age. You can borrow loan amounts ranging from ₱50,000 to ₱1,000,000 which can be approved within 5 - 10 working days and payable from as early as 12 up to 36 months. Interest rate is 15.6% per annum, with fixed interest rate starting from 1.3% per month.

Advantages Of Applying With Maybank Personal Loan

• Highly competitive interest rates.
• Flexible loan repayment terms.
• Fast and hassle free loan processing.
• Top performing, reputable, and largest bank brand in Asia.

To find out if this product is what you are looking for, check out the product details and eligibility requirements available on this page.

Maybank Personal Loan FAQ

How can I apply for a Maybank Personal Loan?

You can apply for a Maybank Personal Loan by conveniently using and filling out our online application form. Once your application is successful, our friendly Customer Care Agent will reach out to assist you with the process.

Is online application possible for Maybank personal loan?

Yes, Maybank personal loan application can be done online through their portal or through our online application form as previously mentioned if you need immediate assistance.

How much can I borrow?

With a Maybank Personal Loan, borrow as much as ₱1,000,000, subject to approval.

Am I eligible to apply for a Maybank Personal Loan?

An applicant must fulfill Maybank’s eligibility criteria for a loan:

• At least 23 years old, but not older than 65 years old upon loan maturity.
• A Filipino citizen with active contact numbers: home landline, office or business landline, and mobile number.
• If employed:
  • At least 2 years with the current employer.
  • Supervisory level and upwards.
  • Monthly income of at least ₱25,000 (gross).
  • Employer must preferably belong to the Top 7,000 Corporations
• If self-employed:
  • Borrower must be at least 23 years old; 55 years old upon loan maturity.
  • At least 5 years in the same business or profession.
  • Business must have been in operation for the past 5 years and profitable for the past 2 years.
  • Average monthly income of ₱200,000

What are the required documents when applying for a Maybank Personal Loan?

After filling out an application form and opening a Maybank account, the following documents are necessary:

Fully Employed applicants need:

• Original certificate of employment w/ compensation and 1 month pay slip.
• Photocopy of latest ITR or BIR 2316.
• Photocopy of 2 valid IDs with 3 specimen signatures.
• Photocopy of latest credit card billing statement.
• Billing statement with residence address.
• Photocopy of latest utility bill with residence address.

Self-Employed applicants need:

• Photocopy of DTI/SEC Certificate of Registration.
• Photocopy of latest 2 years ITR and audited Financial Statements.
• Photocopy of latest 6 months bank statements with average monthly deposit of Php 200,000.
• Photocopy of 2 valid IDs with 3 specimen signatures.
• Photocopy of latest utility bill with residence address.
• Photocopy of latest credit card billing statement.
• List of 3 major suppliers and major customers.

*Additional documents may be required during credit evaluation.

What is the interest rate, fees, and other charges or penalties?

Maybank Personal Loan has a fixed interest rate starting at 1.30% per month for employed / self - employed. A processing fee that would range between ₱2,000.00 to ₱3,000.00 depending on your region. There is also a stamp duty fee of ₱1.00 for every ₱200.00 in excess of ₱250,000.00 of the loan amount. For late payment, an interest of 5.00% p.a. on any balance outstanding is incurred. No penalties for early settlement if you informed the bank one month ahead.

How does the Maybank Loan Calculator work?

The Maybank Personal Loan calculator computes the estimated cost of borrowing and amount of payment per installment. Input the desired loan amount to automatically get the estimated monthly amortization for different tenors.

How fast is the application and approval process?

Maybank Personal Loan application and approval can take up to 5-10 business days.

What are the payment methods for loan repayment?

You can pay your personal loan over the counter with cash, online banking, check or ATM Transfers.

Once approved, how can I receive my loan?

You will receive your loan through the account you created with the Maybank.

How can I check my Maybank personal loan application status?

You will receive communication from one of their representatives about the status of your application or you can reach out through the following methods:

• Maybank Call Center: (+632)588-3888
• Domestic Toll Free: 1800-10-588-3888
• Email: customerservice@maybank.com.ph
• SMS: 0917-MAYBANK

What happens if I cannot make the loan payment?

There is a late payment penalty of 5% of the outstanding balance however as per the Bayanihan Act, payment extensions can be applied to an existing loan for clients nationwide. The late payment penalty as well as other fees and charges are also waived.

Is early loan settlement allowed with Maybank Personal Loan?

Yes. Early loan settlement is allowed and shall incur no additional charges if the bank has been informed one month ahead.

Where can I download the Maybank personal loan application form?

Here you can download the Maybank Personal Loan application form.

Is Maybank Personal Loan the right one for me?

Choosing one of the top banks in Asia as a financial partner is a smart decision if what you are after is guaranteed high level of service and a wide range of innovative, efficient, financial products for your all around banking needs. Backing you up is a financial provider that is present in multiple ASEAN countries with a reputable performance, bringing their expertise across the region. Having this in mind, if reliability, security, and peace of mind with regards to all of your finance-related requirements is what you are looking for, then Maybank Personal Loan would be the right choice for you.

Here are other personal loans from different banks in the Philippines that's also worth looking into:

BPI Personal Loan

As one of the leading banks in the country, you can expect quality and reliable service with BPI Personal Loan. Enjoy fixed add-on interest rate as low as 1.2% per month, as you borrow a minimum amount of ₱20,000 up to ₱1,000,000. The loan tenure ranges from 1-3 years with a required minimum income of ₱25,000 per month.

Citi Ready Credit Personal Loan

Being one of the top banks in the world, Citibank Ready Credit Personal Loan ensures that your immediate fund requirements are met with easy cash access and excellent service. You can borrow from a minimum of ₱20,000 to ₱2,000,000 with payment option that ranges from 1-5 years. Interest rate is 15.6% per year and you need to have a minimum monthly income of ₱21,000 to be eligible.

Eastwest Bank Personal Loan

With EastWest Bank Personal Loan, you can enjoy easy financing options and flexible payment terms. Having a low minimum income of just ₱15,000, you are eligible to borrow from ₱25,000 up to ₱2,000,000 at a minimum contractual interest rate of 31.51% per year. Payment tenure can be as soon as 12 months up to a maximum of 3 years.

Looking for more choices? You can also take a look at the full line-up of Cash Loans listed on our website and choose which is the right one for you.