Guide on the Requirements for RCBC Home Loan Application Process
REQUIREMENTS FOR RCBC HOME LOAN – Here are the documents needed in applying the Rizal Commercial Banking Corporation loan offer.
In the Philippines, one of the banks that has gained the trust of countless Filipinos across the nation is Rizal Commercial Banking Corporation. More popularly called RCBC, it has several branches across the nation that delivers several services to the public.
The RCBC offers include savings and checking accounts, credit cards, and loans. Aside from the RCBC Personal Loan, another loan offer of the popular and trusted bank is the RCBC Home Loan offer.
The RCBC Home Loan offer is open to finance several purposes. You may apply for it to finance any of the following:
- acquisition of house and lot / condominium unit
- purchase of a vacant lot
- house construction
- home renovation
- home loan refinancing
- loan for multi-purpose
There are eligibility requirements for RCBC Home Loan application. It depends if you are locally-employed or self-employed. Here are the qualifications you must meet to be eligible for the loan application:
Locally-Employed Applicants
- Filipino Citizen or Dual Citizen, if foreigner, must be married to a Filipino 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 Php40,000
- If OFW, must have worked abroad for at least 2 consecutive years
Self-Employed Applicants
- Filipino Citizen or Dual Citizen, if foreigner, must be married to a Filipino 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
There are also documentary requirements for RCBC Home Loan application. Here are the documents that must be submitted to the bank in applying for the loan offer:
- duly-accomplished RCBC Home Loan Application Form
- Copy of TCT and Tax Declaration (Land & Improvement)
- Bill of Materials (Construction)
- proof of income:
- For Employed applicants:
- Certificate of Employment (COE) or latest ITR
- 2 valid government-issued IDs
- Tax Identification Number (TIN)
- Utility bill
- For Self-employed applicants:
- Business Registration with DTI
- Audited Financial Statements
- Income Tax Return (ITR) or bank statements
- For Employed applicants:
