Guide on RCBC Home Loan 2024 Application Process
RCBC HOME LOAN 2024 – Here is a guide on how to apply for the offer and the requirements that a client must submit in applying for it.
One of the trusted banks in the Philippines is Rizal Commercial Banking Corporation or more popularly called RCBC. It has several offers for the public including loans, credit cards, and bank accounts.
Aside from the RCBC Personal Loan, the bank also has the RCBC Home Loan offer that can finance multiple 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
The RCBC loan offer is payable for up to 20 years. The bank requires a minimum of 20% downpayment but the RCBC Home Loan offers one of the huge loanable amounts in the market.
How to apply for the RCBC Home Loan offer? There is an easy process in applying for the offer. Here are the steps that you may follow to ensure a smooth application process:
Step 1 — Check the Qualifications. There are eligibility requirements that a client must comply with to qualify for the loan application. The lists vary between locally-employed and self-employed loan applicants.
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
Step 2 — Prepare the Requirements. Just like the eligibility requirements, the documentary requirements for RCBC Home Loan application also depends whether the borrower is employed or self-employed. Make sure to have all the documents needed in applying for the loan offer.
Step 3 — Go to RCBC. Head to a branch of Rizal Commercial Banking Corporation (RCBC) nearest to you and submit the requirements to file your loan application. The loan application processing may take a few working days or weeks. Wait for an update from the bank.
