RCBC in the Philippines

The Rizal Commercial Banking Corporation (RCBC) (Chinese: 中華 銀行; peveji: Tiong-Hoa Gin-Hang) was established in 1960 as a development bank and is licensed by the Central Bank of the Philippines (BSP) for commercial and investment banking. This is one of the largest universal banks in the Philippines with total consolidated resources in the amount of […]

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Rizal Commercial Banking Corporation https://upfinance.com/app/uploads/2019/07/rcbc.jpg
Yuchengco Tower, RCBC Plaza 6819 Ayala Avenue, Makati City 0727 Philippines
632 877 RCBC (877 7222) Contact service, customercare@rcbc.com
Interest rate 0.8% - 2.25%
Loan tenure from 1 to 240 months
Approval duration Up to 120 hours
Min. monthly income

Leading

Helen Yuchengco-Dee, (Chairwoman) Cesar Virata, (Vice Chairman) Gil A. Buenaventura, (President and CEO) Eugene S. Acevedo, (Deputy CEO)

Product Features

Min. financing amount ₱ 50000
Max.financing amount ₱ 2000000
Min. loan tenure 1 months
Max. loan tenure 240 months

Credit

Home loans

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Exclusive for Premier and Advance banking depositors only
Interest Rates:

years 1 2-3 4-5 6-10 11-15 16-20
rates APR 6,38% 6,5% 7,38% 8,5 10% 10,5%

Minimum loan amount: 300 000 PHP
Maximum loan amount: Up to 80% of the appraised value
Payment terms: 1-20 years
Approval time: 5 banking days

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Auto loan

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Interest Rates (Brand New):

months 12 18 24 36 48 60
rates APR 10.5% 10.5% 10.7% 10.8% 10.9% 10.95%

Interest Rates (Pre-owned):

months 12 18 24 36 48
rates APR 15.2% 15.2% 15.3% 15.3% 15.3%

Minimum loan amount: :
Brand new: 300 000 PHP
Pre-owned: 200 000 PHP
Maximum loan amount: Brand new: up to 80% of purchase price
Pre-owned: up to 70% of appraised value
Payment terms: Up to 60 months (Age of vehicle should not be older than 8 years upon loan maturity)
Approval time: 1 banking day
Down payment: Brand new: 20% of the purchase price
Second hand: 30% of the purchase price

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Personal loan

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Interest Rates:  2,3% per month
Minimum loan amount: : 50 000 PHP
Maximum loan amount: 1 000 000 PHP
Payment terms: 6-36 months
Approval time: within 5 banking days

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Loan Calculator

%
Monthly payment
₱ 888.49
Total overpayment
₱ 661.85
Total
₱ 10661.85

Borrower Requirements

Eligibility: 
– A maximum of 65 years if he is working, or 70 years if he is self-employed at the end of the loan period
Сitizenship:
– Must be a Filipino Citizen
– With own (2 years) or rented (3 years) place of residence
If Employed:
– Work at least 2 years
– The employer is among the 10,000 best corporations or a legitimate company operating for at least 5 years
If Self-employed:
– The business must work at least 5 years
– Profitable for the last 2 years.

Business loan

Credit Line

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Interest Rates:  From 10.7% per annum
Minimum loan amount: : 1 000 000 PHP
Maximum loan amount: Loanable Value of Collateral 60% of appraised value (AV) of the real estate collateral
Collateral: Any prime residential, commercial or industrial property with or without improvement
Payment terms: Up to 12 months
Approval time: 5-10 banking days

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Term Loan

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Interest Rates:  From 10.7% per annum
Minimum loan amount: : 1 000 000 PHP
Maximum loan amount: Loanable Value of Collateral 60% of appraised value (AV) of the real estate collateral
Collateral: Any prime residential, commercial or industrial property with or without improvement
Payment terms: Up to 7 years
Approval time: 5-10 banking days

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Borrower Requirements

– If sole proprietorship, must be a Filipino
– If corporation, must be at least 60% owned by Filipinos
– At least 25 years old upon loan application
– At most 60 years old upon loan maturity
– With an existing and profitable business operations for the past 3 consecutive years

For small businesses, a loan is provided for the following conditions:

  • Minimum loan amount: 50,000 Php.
  • Maximum loan amount: 1,000,000 Php (depending on the borrower’s solvency)
  • Minimum term: 6 months
  • Maximum term: 36 months

Who is eligible for a MyCash loan?

  • The current owner of credit cards issued in the Philippines for at least 2 years
  • With own (2 years) or rented (3 years) place of residence
  • A maximum of 65 years if he is working, or 70 years if he is self-employed at the end of the loan period

If it works:

  • At least middle managers
  • Work at least 2 years
  • The employer is among the 10,000 best corporations or a legitimate company operating for at least 5 years.
  • The business must work at least 3 years

If self-employed:

  • The business must work at least 5 years
  • Profitable for the last 2 years

Deposited

For customers there is the possibility of opening a savings account:

Checking deposit

Type of Deposit: Checking
Nominal Rate of Interest: 0.15%
Manner of Interest Payment: Computed daily and credited Monthly
Basis of Interest Payment: Accruals of End of Day Balances for period covered

Fixed deposit

Type of Deposit: Time Deposit
Nominal Rate of Interest: 1.375%
Manner of Interest Payment: Upon Maturity
Basis of Interest Payment: Principal Amount

Credit Card

Black Card Platinum Mastercard

Available in Peso and Dollar variants
Rewards points AIRMILES, Cash Rebates, Shopping Vouchers, Cash Credit to your RCBC Bankard, or Deposit to your RCBC account, or Donation to a charitable institution
Easyterms Enjoy worry-free shopping with 0% installment for up to 36 months
Unlimited free access to the Skyview Airport Lounge and Club Manila Lounge
Free Travel Insurance up to Php1,000,000 and Purchase Protection
Free-for-life Supplementary Cards (maximum of 5)

Flex Gold Visa

Get 2x Rewards in three preferred categories!
Rewards points AIRMILES, GROCERY, GAS, TRAVEL, DEPARTMENT STORE or HOUSEHOLD APPLIANCES. Plus, earn Rewards points for all your other spending anywhere!
Easyterms Enjoy worry-free shopping with 0% installment for up to 36 months
Exchange them for shopping vouchers, redeem as cash rebate, use them as cash credit to your deposit account, or as donation to a charitable institution.
Free Travel Insurance (Travel Plus Lite) & Purchase Protection when you charge all your international travel-related needs to your card
Access to the Skyview Airport Lounge

World Mastercard

Rewards points AIRMILES, Cash Rebate, Shopping Vouchers, Cash Credit to your RCBC Bankard, Deposit to your RCBC account, or Donation to a charitable institution
Easyterms Enjoy worry-free shopping with 0% installment for up to 36 months
Complimentary Priority Pass™ membership
Unlimited free access to the Skyview Airport Lounge and Club Manila Lounge for the Principal cardholder plus one travel companion
Free Travel Insurance up to Php1,000,000 and Purchase Protection when you charge all your international travel-related needs to your card
Free-for-life Supplementary Cards (maximum of 9)

Visa Infinite Card

5% rebate on straight-charge purchases at any local or international clothing and apparel retail shops
Rewards points AIRMILES, Cash Rebates, Shopping Vouchers, Cash Credit to your RCBC Bankard, Deposit to your RCBC deposit account, or Donation to a charitable institution
Easyterms Enjoy worry-free shopping with 0% installment for up to 36 months
Free Travel Insurance up to Php1,000,000 and Purchase Protection when you charge all your international travel-related needs to your RCBC Bankard
Free-for-life Supplementary Cards (maximum of 9)

Debet Card

RCC MyDebit Mastercard, from everyday essentials to a lifelong dream, can help you uncover what you need to live a full life. Make cashless transactions using your card for purchases in the store or on the Internet, as well as enjoy exclusive privileges and discounts when using it in the partner store.

MyDebit Mastercard

Enhanced Security: card transactions through the Lock and Unlock Feature on RCBC Online Banking, alerts for online transactions to identify potential unauthorized transactions
Worldwide Acceptance: shop in over millions of Mastercard merchants here and abroad
Convenience: Manage and access your savings or current account 24/7 via RCBC Online Banking

FAQ

The longest loan period is 20 years.

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Since this type of loan is associated with large amounts of money and a large volume of documents, the term for making a decision by the Bank depends on two stages of verification. First, the Bank will check your solvency, this stage takes no more than 5 working days on average. Then the Bank will need to check the documents for the land or property you are buying, as well as make an assessment of it.

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There is no single solution. If you need the lowest monthly payment, then take loan for the maximum possible period. If you are not sure that you will have a consistently high income, then take as little time as possible.

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Payment terms for Brand New cars – up to 60 months.
Payment terms for Used cars – up to 48 months.

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No, the car is your property from the moment of 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.

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Documents confirming income and identification are the main requirements for obtaining a car loan.
Application form with filled in fields.
Copy of Passport or any ID ( SSS ID, Driver’s License, Voter’s ID)
Working borrowers must submit documents: certificates from the place of work or COE, a copy of payslip for 2 months, income tax return from BIR or ITR within 1 year.
Self-employed applicants must submit documents : a copy of the ITR with THE bir stamp , a copy of registration with the DTI or SEC, and a copy of financial statements for a period of at least 2 years .
After buying a car, you need to pay for insurance.

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Initial registration is usually done by agents, so you get a copy of OR / CR. You must remember that the initial registration is valid for 3 years, so after that you need to renew it annually in LTO.

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On average, initial approval of a Personal credit application can be done from 10 minutes to 1 day, depending on the bank. Final approval takes on average from 24 hours to 5 days. You just need to make sure your documents are completed when you submit them.

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Credit funds can be issued immediately after the application is approved or 1-3 banking days after a successful phone check.

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You do not require any collateral or guarantor to apply for a Personal loan.

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No, you don’t need to report money spent. You can use the money for a variety of personal needs, such as training, hospitalization, car upgrades, and paying bills.

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Contacts

Full company name Rizal Commercial Banking Corporation
Address Yuchengco Tower, RCBC Plaza 6819 Ayala Avenue, Makati City 0727 Philippines
Phone number 632 877 RCBC (877 7222) Contact service
E-mail customercare@rcbc.com
Social networks

The Rizal Commercial Banking Corporation (RCBC) (Chinese: 中華 銀行; peveji: Tiong-Hoa Gin-Hang) was established in 1960 as a development bank and is licensed by the Central Bank of the Philippines (BSP) for commercial and investment banking.
This is one of the largest universal banks in the Philippines with total consolidated resources in the amount of 645 billion Php at the end of 2018.
In 1964, RCBC noted its presence in the Philippine-Chinese business community, opening its first branch in Binondo.
Thanks to its strong ties with the Philippine-Chinese business community and the bank’s reputation in servicing this market, the Philippine-Chinese market remains one of the bank’s main market niches.

Users rating

Reviews

5 months ago

Auto loan payment inquiry

Napahirap tawagan ang inyong hotline more than 1 hr ng naghihintay sa csr nyo wala pa rin twice ko ng ginawa.. Very poor service ang RCBC shit!

1 year ago

Most Easy Loan Policies

For me, this was so simple. I was approved quickly, no excess paperwork required, and the payment was very manageable. I am already 1 year ahead on payments for this 4 year loan. Discover has great customer service every time I deal with them

1 year ago

Good enterest rates

have poor credit with recent delinquency and charge off, other companies have denied me. The other one that approved me was payday loan asking for very good interest rate.. I went to RCBC and saw I can apply without it hurting my credit and got pre-approval within 5 minutes. Application was easy and they saved me so much on interest.

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