Guide on RCBC Personal Loan 2023 Application Process
RCBC PERSONAL LOAN 2023 – Here is a guide on how to apply for the cash loan offer of Rizal Commercial Banking Corporation and the requirements for application.
In the Philippines, one of the banks with multiple loan offers is Rizal Commercial Banking Corporation. More popularly called RCBC, it is one of the giants in the banking field in the country.
One of the loan offers of Rizal Commercial Banking Corporation is the Personal Loan offer, a multi-purpose cash loan. You may apply for it to finance a project, make a purchase, fund a travel abroad, pay for a school tuition, etc.
The RCBC Personal Loan offer is open for both employed and self-employed individuals. The loanable amounts under the said RCBC cash loan offer vary but the bank has generously posted details about the range of the borrowing amounts allowed under the offer.
RCBC charges a monthly add-on interest rate of 1.3%. With regards to the payment terms, the borrower may repay the loan between six (6) months to 36 months. Here are the steps on how to apply for the RCBC Personal Loan offer:
Step 1 — Check your eligibility to the loan offer. The Rizal Commercial Banking Corporation has set two (2) lists of qualifications — one for locally-employed loan applicants and the other for self-employed individuals. Here are the eligibility requirements that the loan applicant must meet to qualify for the loan offer:
If Employed:
- 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, residence landline, or office landline
- must be locally employed at a company registered with Securities and Exchange Commission (SEC)
- with a minimum employment tenure of 2 years and minimum gross monthly income of Php30,000
If Self-Employed:
- Filipino Citizen
- at least 21 years old upon loan application
- at most 65 years old upon loan maturity
- must have a mobile number, residence landline or office landline
- with business operating in the Philippines for at least 3 years and profitable for the past 2 years, and minimum gross monthly income of Php100,000
Step 2 — Prepare your documents. There are documentary requirements for RCBC Personal Cash Loan application that you must prepare for submission to the bank. The lists vary depending if you are employed or self-employed.
Step 3 — Go to an RCBC branch nearest to your residence or workplace. Submit your documents and wait for an update from the bank regarding your loan application. The loan processing may take between five (5) to seven (7) working days.