RCBC House Loan

Last update 24.07.2024
PH - Digido


Loan Amount 10 000 - 25 000 php
Loan period 1 - 6 mo.
Minimum age 21 year
Interest rate 143 %
  • Get your first loan with 0% interest

  • Payout to your account within 4 minutes

  • Don't require guarantors or guarantee deposits

PH - Loanonline


Loan Amount 500 - 25.000 php
Loan period 3 - 12 mo.
Minimum age 20 year
  • Quick response time

  • Borrow money anytime anywhere

  • Competitive interest rates

PH - Finbro


Loan Amount 1.000 - 20.000 php
Loan period 12 - 12 mo.
Minimum age 20 year
  • 0% interest on first loan

  • Fast response on SMS

  • No guarantor nor a payslip

RCBC House Loan; Things You Need To Know

RCBC or Rizal Commercial Banking Corporation is a reputable bank in the Philippines that offers a wide range of financial products and services, including housing loans. With RCBC’s housing loan, you can easily finance your dream home with flexible loan terms and competitive interest rates. You can borrow a minimum of Php 500,000 and up to 80% of the appraised value of the property, and choose a loan term ranging from 5 to 25 years.

RCBC housing loan products are designed to help individuals and families realize their homeownership goals and provide them with a comfortable and secure living environment. To apply for an RCBC housing loan, you must meet certain eligibility requirements and provide the necessary documents to complete the loan application.

RCBC House Loan

Who is RCBC?

RCBC stands for Rizal Commercial Banking Corporation. It is one of the largest universal banks in the Philippines, offering a wide range of financial products and services to individual and corporate clients. RCBC was founded in 1960 and is headquartered in Makati City, Philippines.

The bank provides various services, including deposits, loans, trust and investment management, credit cards, remittance, foreign exchange, and other banking services. It also has a subsidiary, RCBC Savings Bank, which caters to small and medium-sized enterprises (SMEs), microfinance, and retail banking.

RCBC has been involved in several controversies in the past, including the infamous Bangladesh Bank heist in 2016, where hackers stole $81 million from Bangladesh’s central bank account at the Federal Reserve Bank of New York, which was wired to four RCBC accounts in the Philippines. RCBC was fined $21 million by the Philippine central bank for its failure to prevent the laundering of stolen money.

RCBC House Loan Requirements

To apply for an RCBC home loan, you need to prepare the following requirements:

  1. Duly accomplished loan application form
  2. Two valid government-issued IDs
  3. Income documents such as pay slips, income tax return (ITR), or Certificate of Employment and Compensation (CEC)
  4. Copy of Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) in your name
  5. Updated Tax Declaration, Real Estate Tax Receipt, and Location Map of the property (for purchase)
  6. Vicinity map and building plans or specifications (for construction or renovation)
  7. Appraisal fee payment (non-refundable)
  8. Other documents that may be required during the loan evaluation process

Note that additional requirements may apply depending on the specific loan product or property type. It’s best to check with RCBC or visit their website for the complete list of requirements and guidelines. It’s important to prepare all the necessary documents to avoid delays in the processing of your loan application.

How to Avail RCBC Home Loan

To avail of an RCBC home loan, follow these steps:

  1. Determine your eligibility: Check if you meet RCBC’s eligibility requirements for housing loan RCBC offers. These typically include age, income, and creditworthiness criteria. You can also check your sample computation through RCBC home loan calculator.
  2. Choose your loan product: RCBC offers various home loan products, such as home purchase, home construction, home renovation, or home equity loans. Select the one that fits your needs.
  3. Prepare your requirements: Gather all the necessary documents, such as proof of income, government-issued IDs, property-related documents, and others, as required by RCBC.
  4. Submit your loan application: Fill out the RCBC housing loan application form and submit it along with the complete set of requirements to the nearest RCBC branch. You can also apply online through RCBC’s website.
  5. Wait for loan approval: RCBC will evaluate your loan application based on your eligibility, creditworthiness, and the property’s appraisal value. Once approved, RCBC will release the loan proceeds to you or the property seller, as applicable.
  6. Repay your loan: As per your agreed loan terms, start repaying your housing loan on time to avoid penalties or default.

Note that the exact steps and requirements may vary depending on the specific loan product or property type. It’s best to check with RCBC or visit their website for the latest information and guidelines.