New housing loan offers interest rate hike protection

Although lending rates are currently down, this is not an assurance that they won’t go up in the future.

To shield borrowers from unpredictable interest rates, Metrobank, the country’s largest bank, introduces a new housing loan that offers interest rate protection. In addition to offering one of the lowest interest in the market today, this housing loan, dubbed MetroHome Rate Protect, provides a guaranteed maximum interest to give clients protection from possible sudden rate increases which always upset the household budget.

To qualify, a borrower from Metro Manila must have a gross monthly family income (GMFI) of at least P40,000, while a borrower from the provinces must have at least P30,000. Application fee is waived until June 30, 2002.

For more details, contact the Home Financing Division at tel. nos. 8405771 to 5772, 8989838, 8988929, or 8988000 local 2025 and 2611; or visit any Metrobank branch.