Guide on RCBC Auto Loan Application Process
RCBC AUTO LOAN – Here is a quick and easy way to get your dream car through the help of Rizal Commercial Banking Corporation.
Are you looking for a bank that can help you achieve your dream car? You might have yet to hear about the excellent offer of Rizal Commercial Banking Corporation or more popularly called RCBC,
The RCBC Auto Loan offer is open to finance a car purchase whether it is brand new or pre-owned vehicles. The minimum loanable amount set by the bank is Php 300,000 and the borrowed amount is payable from 12 months up to 60 months.
With regards to the downpayment, RCBC set the downpayment at 20%. For example, the amount of the vehicle is Php 1 million, you need to prepare at least Php 200,000 for the downpayment.
Under its Auto Loan offer, the Rizal Commercial Banking Corporation gives its clients the chance to choose among having low monthly amortizations; flexible and worry-free insurance coverage for the entire loan term; and free insurance coverage for the first year of the loan term, free chattel mortgage fees, and a low downpayment.
Who are qualified to apply for the RCBC Auto Loan offer? The loan offer is open for both employed and self-employed individuals. Here are the qualifications set by the bank:
For Employed Individuals:
- Filipino Citizen or Dual Citizen
- at least 21 years old upon loan application
- at most 65 years old upon loan maturity
- must have a mobile number and a residence or office landline
- with a minimum employment tenure of 1 year and minimum gross monthly income of Php 40,000
For Self-Employed Individuals:
- Filipino Citizen or Dual Citizen
- at least 21 years old upon loan application
- at most 70 years old upon loan maturity
- must have a mobile number and a residence or office landline
- business must be in profitable operations for the past 2 years
