Terms and Conditions
1. Easy Installment application is subject to evaluation and approval. The monthly add-on interest rate is 1% across all available tenors: 3, 6, 9, 12, 18, 24, 36, and 48 months.
2. Cardholder must have one verified landline or one postpaid mobile number (copy of latest postpaid bill is required). Cardholder is responsible for keeping the contact information with Metrobank up-to date.
3. The process of conversion of balance to installment is not considered a payment. Hence, a down payment equivalent to the minimum amount due or past due amount, whichever is higher, must be settled prior to the processing of application (except for special cases approved by the Bank). The outstanding balance as of booking date, inclusive of transactions for retail and non-retail purchases, billed amortizations of active installments plus incurred charges, will be considered for processing.
4. Finance charges incurred prior to conversion of balance to installment will be billed on the next statement of account. Applicable fees (ex. Overlimit fee), charges and interest rates will apply if you pay only the minimum amount due after booking or if you have other transactions on top of the Easy Installment amortization.
5. An Overlimit Fee will be charged whenever your balance goes over the credit limit.
6. An Annual Fee will be charged once a year on the anniversary of your card’s issuance date, in accordance with Metrobank Credit Card Terms and Conditions.
7. Transactions posted before or after the down payment is made, or prior to processing the request, may require re-computation. All applications are subject to evaluation and approval. An SMS or email confirmation will be sent to the registered mobile number or email address once the Easy Installment request has been successfully booked.
8. Once Easy Installment has been booked, the account will be temporarily blocked. Reactivation will be subject to evaluation and review based on the payment history of the account.
9. Utilities and insurance(s) enrolled in automatic debit facilities will not be billed, and Bills2Pay enrollments will not be processed as the card will be temporarily blocked upon availing of the Easy Installment program. Existing installments (retail and non-retail) will continue to be billed as scheduled, on top of the Easy Installment amortization.
10. Pre-termination of the Easy Installment program is subject to a fee of 5% of the outstanding principal balance or PHP 550, whichever is higher. The remaining principal amount will be computed using the diminishing balance method and will include any applicable penalties, interest, and other charges, which will be reflected in the next billing cycle.
