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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Malayan Savings Bank

Advertiser Disclosure

About bank

Malayan Savings Bank is a private company. The company currently specializes in the banking area. The bank has been in operation for the last 25 years, offering different financial services to Filipinos.

Emboldened by the goal to provide financial means for middle and lower-income Filipinos through accessible banking instruments, MSB has since served customers by helping them achieve their personal and business goals through their lending services. MSB is one of the top banks in the country and remains a trusted partner of individual customers and small and medium enterprises (SMEs).

Pros and cons

Understanding the benefits and drawbacks of a bank is equally essential. Many individuals are drawn in by appealing commercials, but they must consider all factors before taking out a loan.

Pros

  • The bank offers personal loans to individuals that are collateral-free.
  • The bank offers additional loan products like jewelry loans and teacher’s loans, which are designed to target the unique requirements of the applicants.

Cons

  • The minimum monthly income criteria are higher than those of other competitors.
  • The bank does not offer users the ability to fill out a loan application online. They have to visit their branch physically or write them an email to apply for a loan.

Loan conditions

To be eligible for the loan, one should be at least 21 years old but not more than 65 years old upon loan maturity. The applicant must be a Filipino citizen, and he or she must be a regular and permanent employee for at least one year with a minimum monthly salary of ₱20,000.

Loans types

Malayan Savings Bank offers different types of loans that cater to every requirement. The list of loans includes:

Personal loan

MSB provides personal loans to fulfill customers’ short-term and long-term financial needs. The customer can take a personal loan ranging from ₱30,000 to ₱300,000 for 12 to 36 months at 1.30% interest per month.

Motorcycle loan

An individual can apply for a motorcycle loan in MSB with a minimum loanable amount of ₱30,000 and a maximum of ₱300,000 for a minimum of 12 months to a maximum of 36 months.

Auto loan

MSB offers this loan to individuals who wish to have their car. The minimum loanable amount is ₱100,000, and the maximum loanable amount is ₱5,000,000, which is offered for 12 to 48 months for pre-owned cars and 12 to 60 months for brand new cars.

Teachers’ aid

MSB provides teachers’ aid to the Filipino DepEd Public School teachers and non-teaching personnel under the payroll of DepEd. It is available for 12 months, 24 months, and 36 months at an annual interest rate of 7%.

Jewelry loan

Individual borrowers can apply for a Jewelry loan at an interest rate of 1.5% per month.

Housing loan

MSB offers housing loans to the customers, ranging from ₱300,000 to ₱25,000,000, with a loan tenure of a maximum of 25 years.

Business Loan

MSB offers small business loans where the minimum loanable amount is ₱5,000,000 and the maximum of ₱10,000,000 with loan terms up to 10 years. The company also provides SME loans with a minimum amount of ₱2,000,000 and a maximum depending on the client’s requirements and subject to the bank’s evaluation. It is available for 10 years or even longer term, subject to the bank’s evaluation.

Transport loan

The bank provides fleet financing where the minimum loanable amount is ₱5,000,000. The maximum amount depends on the client’s requirements and is subject to the bank’s evaluation with a tenure of a maximum of 36 months. It also offers a truck loan, and the loanable amount ranges from ₱500,000 to ₱5,000,000, with a maximum loan term of 36 months.

Group salary loan

MSB offers group salary loans to registered business entities operating for at least four years in the Philippines with three years of profitable operations with a minimum of 50 regular employees and operating within the serviceable area of the bank. The applicant can opt for a loan of a minimum of ₱10,000 and a maximum of ₱300,000 for loan periods ranging from 6 to 36 months.

Malayan Savings Bank

FAQ

What is the Malayan Savings Bank?

MSB is a top banking entity in the country that offers services to individual customers and small and medium enterprises (SMEs). They provide lending services with a range of loan products listed under their belt.

Who owns Malayan Savings Bank?

Malayan Savings Bank is a publicly listed company, and its significant shareholders and owners are GMA Networks, Inc., Majalco, Inc., Yupangco Group of Companies, Liberty Flour Mills Inc.

How do you qualify for Malayan Savings Bank?

To be eligible for the loan, one should be at least 21 years old but not more than 65 years old upon loan maturity. The applicant must be a Filipino citizen, and he must be a regular and permanent employee for at least one year with a minimum monthly salary of ₱20,000.

Is Malayan Savings Bank a legitimate company?

Yes, it is a legit company. It is regulated by the Bangko Sentral ng Pilipinas. Furthermore, the customers' deposits are also insured by PDIC for up to ₱500,000 per depositor.

What is the minimum downpayment for auto finance?

The minimum downpayment for auto finance is 20% of the purchase price.

For what period can I take out an auto loan?

The auto loan is offered for 12 to 48 months for pre-owned cars and 12 to 60 months for brand new cars.

Is the car owned by the bank for the loan period?

No, the car is your property from the purchase but remains the bank’s guarantee for the loan period. This means that you cannot sell the car, and you also have to pay for car insurance so that the bank can receive its money in any case.

Can I take out an auto loan for a used car?

Yes, the bank allows you to take out an auto loan for a used car.

What are the requirements for auto loans?

The applicant must submit documents confirming income and identification for obtaining any loan. The basic requirements include an application form with filled-in fields, a copy of a passport or any ID ( from SSS ID, driver’s license, voter’s ID). Working borrowers must submit additional documents like certificates from the place of work or COE, a copy of the payslip for two months, income tax return from BIR, or ITR within one year.

Self-employed applicants must submit additional documents like a copy of the ITR with the BIR stamp, a copy of the registration with the DTI or SEC, and a copy of financial statements for at least two years.

Do I need to register my auto in LTO?

No, you can register your auto after loan processing as well.

What is the longest home loan term?

The longest home loan term is 25 years.

What is the duration of home loan processing?

The bank takes 1 to 5 banking days to approve a home loan, according to the data.

What is more profitable - a long home loan term or a short one?

Applying for a short-term home loan can be more profitable in the long run because the total interest charged will be significantly less.

Financial products

Malayan Savings Bank
Group Salary Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱10,000-₱300,000
Rate
i

Effective interest rate on the product

0.85% per month
Term
i

Loan term for the financial product

up to 36 months
Malayan Savings Bank
Teacher's Aid
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱5,000 -₱1,000,000
Rate
i

Effective interest rate on the product

7% per year
Term
i

Loan term for the financial product

up to 36 months
Malayan Savings Bank
Personal Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱30,000-₱300,000
Rate
i

Effective interest rate on the product

1.30% per month
Term
i

Loan term for the financial product

up to 36 months
Malayan Savings Bank
Transport Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱500,000-₱5,000,000
Term
i

Loan term for the financial product

up to 36 months
Malayan Savings Bank
Auto Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱100,000-₱5,000,000
Term
i

Loan term for the financial product

up to 60 months
Malayan Savings Bank
Motorcycle Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱30,000-₱300,000
Term
i

Loan term for the financial product

up to 36 months
Malayan Savings Bank
Housing Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱300,000-₱25,000,000
Term
i

Loan term for the financial product

up to 25 years
Malayan Savings Bank
Business Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱5,000,000-₱10,000,000
Term
i

Loan term for the financial product

up to 10 years

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All Malayan Savings Bank’s reviews by december 2022
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