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Article: Metrobank offers below industry car loan rates

Article from:
The Manila Times
Article date:
July 6, 2009
Author:
Copyright

METROPOLITAN Bank & Trust Co. (Metrobank) cut its interest rate on auto loans to boost its consumer-lending portfolio.

In a three-day MetroCar Great Rates Sale promo, Metrobank offered an annual interest rate of 5 percent for the first year of a car loan.

This is lower than the industry rate of 11 percent to 12 percent.

With a month's advance, Metrobank's car loan was offered with an interest rate of 7.20 percent for 18 months, 10.68 percent for 24 months, 16.76 percent for 36 months, 23.05 percent for 48 months, and 29.92 percent for 60 months.

"MetroCar addresses concerns on affordability and flexibility. Our rates are very competitive and borrowers have the option to choose ...

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